ASX:LPD 1hr TFAll I'll say is "Healthy, Healthy, Healthy"No...

ASX:LPD 1hr TF

All I'll say is "Healthy, Healthy, Healthy"

No sustainable trend can continue parabolic without retrace. This is normal across all assets and all markets, and keep in mind that Fridays are usually profit taking day for traders.





Above we can see that price originally hit 0.047 and was quickly sold off during the hour then another failed swing high at 0.045 formed a solid resistance yesterday before a 4 pip slip today/yesterday.

Price is currently sitting on the Fib Retracement Level 0.382 and holding as Support. A continuation from this point (as well as anywhere between 0.236 - 0.618 "Golden Ratio") is still considered Bullish.

On the Smaller TFs we are beginning to "Flag" and with the right Volume and Potential Announcement we will be on our way again with flagpole target aligning with TB Fib Extension Level 1.0 at 0.058.

Also note that from this level IF continuation is to play out a TB Fib Extension Target 1.618 aligns with "Cup & Handle" target of 0.068-0.069, which most would agree isn't out of the realms of possibility, considering what we have seen over the last 2 weeks.

RSI although trending down is looking set to test downtrend and potentially break which would see Bullish momentum gain. If this is to occur then the Histogram on MACD would be printing Bearish weakness and the EMAs would be set for a Bullish Cross.

Note: TB Fib Extension levels 0.618, 0.786, 1.0 are also levels of potential profit taking/ retracement.

The key IMO is dont sweat the small stuff and think about what a distant memory this will be when fundamental announcements begin to roll.

It's the weekend, turn off the computer and enjoy your hobbies, friends and family. See you all next week! GLTAH

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