The NEAR strategy setup from the previous update played out as expected, securing a solid profit on this move. At this decisive moment, I’m siding with the chart structure, not emotion—$LAB looks more like a trap than an opportunity. The daily, four-hour, and one-hour trends are all below their moving averages, with no sign of the bearish alignment easing. In this kind of confluence, rebounds often just create room for shorts. Resistance is stacked above key levels, and volume hasn’t shown the buying strength needed for a reversal.
There is buying pressure on the 15-minute chart, but momentum on a lower timeframe can’t support the bigger structure. I’m inclined to view this as a continuation pattern within the downtrend. As long as price doesn’t reclaim the overhead level, there’s still room to fall, with the previous low support zone as the first target. Let me ask this: with all three trends pointing down, why bet on a reversal?
🔴 Trade direction: Short
📍 Entry range: 0.0454938 – 0.0457614
🛑 Stop loss: 0.0483018
🎯 Take profit 1: 0.0436220
🎯 Take profit 2: 0.0422849
🎯 Take profit 3: 0.0402792
Take in the vastness of mountains and seas; observe the market’s subtleties.
Trade alongside Uncle Xiong and witness the gains and losses of the markets.
#LAB
Click below to trade 👇
There is buying pressure on the 15-minute chart, but momentum on a lower timeframe can’t support the bigger structure. I’m inclined to view this as a continuation pattern within the downtrend. As long as price doesn’t reclaim the overhead level, there’s still room to fall, with the previous low support zone as the first target. Let me ask this: with all three trends pointing down, why bet on a reversal?
🔴 Trade direction: Short
📍 Entry range: 0.0454938 – 0.0457614
🛑 Stop loss: 0.0483018
🎯 Take profit 1: 0.0436220
🎯 Take profit 2: 0.0422849
🎯 Take profit 3: 0.0402792
Take in the vastness of mountains and seas; observe the market’s subtleties.
Trade alongside Uncle Xiong and witness the gains and losses of the markets.
#LAB
Click below to trade 👇