After an aggressive upside move, $IR is now flashing clear signs of exhaustion, making this area attractive for a short-term short setup as profit-taking begins to emerge.
Trade Idea — SHORT $IR
Entry Zone: 0.0845 – 0.086
Stop Loss: 0.0895
Take Profit Targets:
TP1: 0.0810
TP2: 0.0785
TP3: 0.072
Price Action Breakdown
$IR recently experienced a vertical rally from 0.0674, pushing price rapidly into the 0.0879 region. Such sharp impulsive moves often lead to temporary tops, and the market is now showing classic distribution behavior.
On the 1-hour chart, price has just printed a strong bearish engulfing candle, fully consuming the prior bullish momentum. This candle structure typically signals trend exhaustion and the start of a corrective phase.
Another key warning sign is declining volume during the final leg of the rally. While price pushed higher, participation faded — a clear indication that buyers are losing strength and late entrants are at risk.
Key Technical Levels
Price is currently pressing against the MA7, which has acted as short-term dynamic support.
A clean break below MA7 is likely to trigger:
Long liquidations
Aggressive profit-taking
Increased downside momentum
If this breakdown confirms, price is expected to rotate back toward the MA25, with deeper correction potential into the MA99 zone, where the market may attempt to establish a new balance.
Market Expectation
This setup does not invalidate the larger trend, but it strongly favors a healthy pullback after an overheated rally. Shorts are favored while price remains below the local high, with risk clearly defined above resistance.
📌 Trade with discipline, respect your stop loss, and manage risk accordingly.
👉 Click and trade $IR responsibly.
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