$LUMIA saw a strong impulsive breakout followed by heavy rejection from the highs, and price is now consolidating below the failed continuation zone. The sharp pullback and lower highs after the spike indicate distribution rather than healthy continuation, showing that buyers lost control near the top and sellers stepped in aggressively………………….
As long as price remains below the rejection area and fails to reclaim the impulse high zone, continuation toward lower support levels remains the higher-probability scenario, with any weak bounce likely to be sold into………………….
Trade Setup
Entry Range: 0.111 – 0.118
Target 1: 0.105
Target 2: 0.098
Target 3: 0.090
Stop Loss (SL): 0.122
LUMIA
0.109
-16.15%