$NOM 🔻📉 M Pattern Down for NOM | Sellers in Control | Sell Now ⚠️🔥
NOM is currently forming a downward M pattern, indicating a potential reversal towards the downside with strong seller dominance. 📉🔻 Buyers are being rejected near the peaks, while sellers are entering aggressively—making selling now the preferred order.
From a technical perspective, NOM shows a clear double top structure with lower peaks, emphasizing increasing bearish momentum. Volume supports the downward trend: selling expands at the lows and weakens at minor retracements, indicating distribution at the top. ⚠️📊
The market structure favors short positions. Any retracement towards the peaks of the M pattern is likely to be sold aggressively, keeping the bearish pressure strong. NOM is ideal for selling strategies at highs, with further decline likely once the neck line is broken.
Overall market conditions also support the bearish outlook. Weakness across similar assets increases the likelihood of continued decline. 🪙📉
Trade Management:
Short near the M pattern resistance or upon confirmed break
Expect minor retracements to fail
The trend remains bearish while below resistance
⚠️ Invalidating: The downward M pattern is only invalidated if NOM breaks above the M pattern peaks with strong buying volume. Until then, sellers remain strongly in control.
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