LABS - breakout
LABS Update
1D/4H Charts
Labs came in to the 4H demand and golden fib having been accumulated with lots of doji’s formed on the daily showing equilibrium between buyers and sellers.
It formed another smaller falling wedge having broke out of it with supporting volume creating a new structure forming a higher high and currently correcting with lower volume showing harmony in the market between price action and volume. It rejected off the 0.5 fib based on the corrective wave of the smaller wedge and currently heading back to the BOS line that it should now be support and where the golden fib is located after this initial break out.
Expecting this to continue higher over the coming weeks with momentum increasing on the MADC.
I DCA’d on this while it was cheap at 0.009 based on my analysis posted on October 9th as I was waiting for the correction to come back into the major trend which it did and respected it.
1D/4H Charts
Labs came in to the 4H demand and golden fib having been accumulated with lots of doji’s formed on the daily showing equilibrium between buyers and sellers.
It formed another smaller falling wedge having broke out of it with supporting volume creating a new structure forming a higher high and currently correcting with lower volume showing harmony in the market between price action and volume. It rejected off the 0.5 fib based on the corrective wave of the smaller wedge and currently heading back to the BOS line that it should now be support and where the golden fib is located after this initial break out.
Expecting this to continue higher over the coming weeks with momentum increasing on the MADC.
I DCA’d on this while it was cheap at 0.009 based on my analysis posted on October 9th as I was waiting for the correction to come back into the major trend which it did and respected it.
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