basing
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$LIGHT
The price appears to have experienced a significant drop from much higher levels and is now forming a tight base at a historic low. This type of chart often precedes a volatile "dead cat bounce" or a more sustained recovery if accumulation is occurring. A break above the immediate resistance could trigger a sharp move.
TRADE SETUP
· ENTRY ZONE: $0.620 - $0.635
· TAKE PROFIT 1: $0.750
· TAKE PROFIT 2: $0.900
· STOP LOSS: $0.590
SHORT MARKET OUTLOOK
Bearish momentum has potentially climaxed, leading to a period of basing. The immediate trend is neutral, awaiting a directional catalyst. The critical level to watch is a break above $0.65 for a bullish reversal, or a break below $0.60 for further decline. The current consolidation suggests a volatile move is being prepared.
Buy and trade here on $LIGHT
#LIGHT #BASING #Reversal #volatility #accumulation
The price appears to have experienced a significant drop from much higher levels and is now forming a tight base at a historic low. This type of chart often precedes a volatile "dead cat bounce" or a more sustained recovery if accumulation is occurring. A break above the immediate resistance could trigger a sharp move.
TRADE SETUP
· ENTRY ZONE: $0.620 - $0.635
· TAKE PROFIT 1: $0.750
· TAKE PROFIT 2: $0.900
· STOP LOSS: $0.590
SHORT MARKET OUTLOOK
Bearish momentum has potentially climaxed, leading to a period of basing. The immediate trend is neutral, awaiting a directional catalyst. The critical level to watch is a break above $0.65 for a bullish reversal, or a break below $0.60 for further decline. The current consolidation suggests a volatile move is being prepared.
Buy and trade here on $LIGHT
#LIGHT #BASING #Reversal #volatility #accumulation
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