$LPT market recap and new entry
๐ Current Situation Summary
Price: $8.876
24h High: $10.777
RSI (6): 51.5 (recovering from oversold)
Stoch RSI: Turning upward โ momentum building again
Parabolic SAR: Still above price โ trend still bearish, but losing pressure
Volume: Lightly rising again
Price Action: Forming a base or potential reversal zone just above $8.50
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๐ง Interpretation
Youโre seeing:
A pullback pause after a strong sell-off
Buyers are starting to step in, trying to defend this $8.80โ$8.50 zone
Shorts should start protecting profits, and new shorts are riskier here
A bounce or sideways range is the most likely scenario now
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โ If You're Still Holding a Short:
Strategy Details
โ Lock in profits This is a good zone to take 70โ90% profit
๐ Trail stop Just above $9.10โ$9.20 to secure gains
โ ๏ธ Risk of reversal If price reclaims $9.40+, trend could flip again
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โ If Youโre Thinking to Short Now:
> No โ not a good idea right now.
Entering short after a full 2-point drop from $10.77 to $8.77 is late.
RSI and StochRSI say weโre entering bounce territory.
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๐ Possible Scenarios from Here:
๐ผ Bounce Plays Out
Price climbs to $9.20โ$9.40
That becomes a new short zone if rejection forms
You can re-enter short there with tighter stop-loss
๐ป Breakdown
If $8.50 breaks on volume
Short continuation setup activates
Entry: $8.45
SL: $8.80
Target: $7.80
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๐งญ Final Thoughts
Situation Recommendation
Already in short Take profits or trail now โ
Want to short now โ Too late โ bounce zone
Prefer smart re-entry Wait for bounce to $9.20โ$9.40 or breakdown below $8.50
see you soon โค๏ธ
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