$LIGHT - SHORT Setup
Entry: 0.8800 – 0.8950 (On a clear rejection at the 24h high/resistance zone)
Target 1:0.8300
Target 2:0.8030 (24h Low)
Stop Loss:0.9100 (Above the swing high)
My View:
LIGHT is showing clear bearish momentum after being rejected from the$0.9025 high. The price has broken below immediate support and is now in a weak consolidation bounce. This bounce is approaching a major resistance zone between $0.8800 and $0.8950, which aligns with the 24h high and previous support levels. The chart shows a potential lower high forming, and the price is struggling to regain bullish momentum. The order book indicates more selling pressure than buying above the current price. The high-probability strategy is to short into this relief rally, anticipating a continuation of the downtrend. Wait for a clear rejection candle in the resistance zone for confirmation.
Bias: Bearish below $0.8950. A break and hold above $0.9100 would challenge the bearish view.
Disclaimer:My plan. Not advice. Trade your own risk.
