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PROM has been on a fierce rise these past two days, currently reaching the critical resistance level at 9.2. From the chart, the upward momentum has slowed down, and the rebound height is beginning to be limited. Many people are choosing to go short at this position to see if they can catch the retracement wave. After all, resistance levels are often a testing ground for trend reversals, and the movement here is worth paying attention to.
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The more fierce the rise, the more I fear. There are always lower points waiting for the bagholders.
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History tells us that resistance levels are where you cut the leeks.
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Shorting is not wrong, just afraid of soft hands. Patience and waiting for the decline is the key.
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Another rebound that will be proven wrong. Just watch, it will come back sooner or later.
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9.2? I only see lower levels waving at me.
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Human weakness is chasing highs; waiting for a pullback is the proper thing to do.
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The loudest cheers before resistance levels are the most ear-piercing. Buying the dip after a fall is the trading philosophy.
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Behind the fierce rally is an even fiercer decline brewing.
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Being bearish is not pessimism; it’s respecting market laws.