AR short market read
$AR is trading around 3.38 after a clear intraday drop. Price is holding above the recent low near 3.33 and forming small higher candles on the lower timeframe. Volume is fading on the sell side which tells me sellers are losing strength and a short bounce is likely.
Trade setup I’m watching
Entry Zone
3.34 to 3.38
Target Point(s)
Target 1 3.45
Target 2 3.55
Stop Loss
3.28
Why this setup works
I’m buying close to support where price already reacted. The downside momentum is slowing and candles are stabilizing above the low. Risk is tight below support while upside offers a clean move back to the recent breakdown area. This gives a good risk to reward for a short term bounce trade.
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