$IR just printed a massive expansion wick on the daily chart followed by a tight recovery structure. The violent sweep down was instantly absorbed and price reclaimed the reaction zone fast which tells this was pure liquidity grab not distribution. After that shock move price is now compressing and building a base above the mid range instead of bleeding lower. Momentum has cooled but structure remains constructive.
Here is my full setup from this chart.
Entry Point
0.295 – 0.275
Target Point
TP1 0.335
TP2 0.385
TP3 0.435
Stop Loss
0.235
It is possible because the long lower wick shows strong rejection of lower prices and buyers defended the range aggressively. If IR continues to hold above the 0.27 support zone the next push toward 0.335 becomes the natural continuation before momentum attempts a deeper recovery into the upper range.
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IR
Alpha
0.21121
-18.86%