I’m watching $AXL after this sharp drop on the 15m chart and the first small bounce is showing up. Momentum is still weak but the candles are starting to slow down which usually hints at a short term relief move. I’m keeping it simple and trading only the bounce zone.
Trade Setup
Entry Zone
0.1380 – 0.1410
Target Points
TP1: 0.1455
TP2: 0.1490
Stop Loss
0.1355
Why this setup works
The downtrend is losing strength and the wick at the bottom shows buyers stepping in. I’m aiming for a quick bounce back into the previous support turned resistance zone. Risk stays tight because if price breaks below the last wick the bounce idea is invalid.
