🚨 Update $LAB : an unforgiving downtrend—sell the bounce! 🚨
$LAB shows extreme weakness on the PnF (Point and Figure) chart, recording an unforgiving sequence of lower lows and lower peaks. The market structure is bearish overwhelmingly.
📉 The ASI indicator is deeply negative (-128.23), confirming aggressive selling pressure. Any minor bounce is likely to be sold hard. The area between 0.0600 and 0.0650 acts as a strong sell order block.
🔍 Key levels:
• Immediate resistance is the 0.0600 – 0.0650 zone (order block).
• The most recent bottom at 0.0528 is the immediate liquidity target (selling liquidity).
🎯 Trading plan: sell $LAB on the bounce
We are looking to sell a retest of the broken support zone.
• Entry zone: 0.0600 – 0.0650
• Stop loss: 0.0750 (above the last lower high)
• Take profit 1: 0.0528 (last liquidity bottom)
• Take profit 2: 0.0480
• Take profit 3: 0.0450
⚠️ Required confirmation:
Wait for a clear bearish rejection candle (e.g., a shooting star or bearish engulfing) on the hourly timeframe within the entry zone.
❌ Trade invalidation:
An hourly candle close above 0.0750 invalidates this sell setup.
Follow the trend and manage your risk. 📉
$LAB shows extreme weakness on the PnF (Point and Figure) chart, recording an unforgiving sequence of lower lows and lower peaks. The market structure is bearish overwhelmingly.
📉 The ASI indicator is deeply negative (-128.23), confirming aggressive selling pressure. Any minor bounce is likely to be sold hard. The area between 0.0600 and 0.0650 acts as a strong sell order block.
🔍 Key levels:
• Immediate resistance is the 0.0600 – 0.0650 zone (order block).
• The most recent bottom at 0.0528 is the immediate liquidity target (selling liquidity).
🎯 Trading plan: sell $LAB on the bounce
We are looking to sell a retest of the broken support zone.
• Entry zone: 0.0600 – 0.0650
• Stop loss: 0.0750 (above the last lower high)
• Take profit 1: 0.0528 (last liquidity bottom)
• Take profit 2: 0.0480
• Take profit 3: 0.0450
⚠️ Required confirmation:
Wait for a clear bearish rejection candle (e.g., a shooting star or bearish engulfing) on the hourly timeframe within the entry zone.
❌ Trade invalidation:
An hourly candle close above 0.0750 invalidates this sell setup.
Follow the trend and manage your risk. 📉
