$LAB
🚨 $LAB bleeding at 5.6%, bounce incoming?
- With this strong selloff and the current price sitting just above 10.32 support, further downside remains likely unless there’s a strong reaction from buyers.
- My expectation is for the price to TEST 10.32 soon. If this level breaks on a 15m close with increased selling, the next targets are 9.85 and then possibly 7.76.
- If you’re considering a short, the ideal entry is on a bounce into 13.24-15.34 with clear rejection, or on a confirmed breakdown below 10.32 with momentum.
- Take profits at 10.32 (first target), then 9.85 (second target), and trail further only if momentum continues.
- Place your stop-loss above the swing high of the rejection candle (for shorts off resistance), or above the last lower high if shorting the breakdown — this will protect you in case of a sharp reversal.
- If price bounces sharply above 13.24 and holds, wait for signs of bullish structure before flipping bias.
- If, instead, there’s a sudden bullish engulfing and reclaim of 13.24-15.34, consider the short thesis invalid and reassess for a reversal.
- This recent high volume flush is often not the absolute bottom, but watch for traps — don’t chase shorts blindly after a big move down; wait for a proper setup as described above.
📝 This is not investment advice, but rather an educational analysis based on the current chart structure and smart money principles. Always wait for confirmation before entering any trade and manage risk accordingly!
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#LAB