$LUMIA Rejection at the peak, downward correction likely
Short trading plan for LUMIA (10x)
👉Entry: 0.1920 – 0.1960
SL: 0.2020
TP1: 0.1850
TP2: 0.1780
TP3: 0.1700
LUMIA is showing clear rejection at the peak of 0.1920 – 0.1960 after a previous upward move. The price couldn't maintain momentum, a rejection wick is appearing, and volume is weakening, a sign of a potential downward correction.
Stop loss is placed at 0.2020, a relatively clean level, above the resistance zone. If it gets swept, no regrets. If the price continues to be rejected, the targets of 0.1850 → 0.1780 → 0.1700 are entirely feasible.
The distance from entry to stop loss is quite wide (~3-5%). Divide your capital and manage risk well.
The peak is being rejected will there be a downward correction? Have you entered yet? Comment to discuss!