$LAB 🆘
$LAB just dumped 8.8%, short opportunity?
- After this -8.8% flush, I expect the price to hover around the 6.577 demand area, with a real possibility of another liquidity sweep down toward 5.519 before any bounce happens
- I do **not** recommend entering a new short here unless price bounces back to at least the 9.699–11.670 resistance area and then shows bearish rejection (e.g., a lower high, strong bearish engulfing, or failure to break through supply)
- A potential trade setup: If price sweeps below 6.577 toward 5.519 and then forms a clear reversal (such as a bullish pin bar, engulfing, or a double bottom on the 5m chart), you could look for a quick long scalp up toward 6.85–7.50, with your stop at the swing low of the move
- If you want to short, wait for a relief rally up to 9.699–11.670 (into FVG and resistance) and for a sign of exhaustion or bearish reversal candle before entering. Take profit targets would be 7.50 and then 6.60. Place your stop at the swing high of the bounce
- If price breaks and closes below 5.519 on strong volume and does not reclaim that level quickly, expect continuation toward 4.680, as there will be little support left
Example confirmations to wait for before any trade:
- On a long: bullish pin bar or engulfing on 5m, strong rejection wick below 6.577 or 5.519, or bullish divergence on RSI/MFI on lower timeframes
- On a short: rejection at 9.699–11.670, lower high with bearish engulfing candle, or a liquidity sweep above previous 15m highs followed by immediate sell pressure
This is not investment advice, but an educational report based on the current chart and price action 📊
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#LAB