$LAB ⚠️ Sharp 4.5% Drop on
$LAB - At this moment, the trend remains strongly bearish, and there is no confirmation that a true bottom is in. More downside is possible, especially if the next 1-2 candles do not reclaim the 8.246 level.
- If you are looking for a short entry, the ideal scenario would be a relief bounce toward 8.246 or 8.705, followed by clear rejection (such as a bearish engulfing, pin bar, or lower high on the 5m/1m chart). Entry: 8.22–8.70 zone. First target: 8.00, second target: 7.00, and possibly down to 6.95 as a stretch target. Stop-loss should be placed just above the last swing high on the local timeframe.
- Only consider a long scalp if there is an aggressive wick below 8.00 (ideally undercutting the current low), and price quickly reclaims 8.00 with a strong reversal candle, aiming for 8.246/8.705, but this would be a counter-trend move and higher risk.
- If price manages to reclaim and close above 8.705, and confirms with bullish structure (higher highs/higher lows), the downtrend could be overextended and a reversal towards 9.224 or 9.468 is possible.
- As of now, it is NOT safe to call this the bottom; more downside is likely unless a strong bullish reaction appears soon. Wait for relief bounces to short, not chase lows unless you see clear manipulation/liquidity sweep and reversal.
📝 This is not investment advice, just an educational analysis report. Please use your own judgment and manage risk carefully!
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