$MLK Lower high rejection after relief bounce signaling potential continuation down.

Trade Plan

Entry $0.05600 to $0.05680

Stop Loss $0.05880

TP1 $0.05450

TP2 $0.05300

TP3 $0.05150

Why this setup

MLK remains in a short term downtrend on 1H with a clear lower high around $0.05680 to $0.05700. Price rejected near resistance and is rolling over again. As long as $0.05880 is not reclaimed, sellers maintain control and continuation toward $0.05450 and lower support levels is likely.

Will MLK break $0.05450 support and accelerate the downside move?

Buy and Trade $MLK

MLK

Alpha

0.056193

+1.44%