FIL · 1H · DOWNTREND

The short from my November 3 read ran perfectly — confirmation triggered on the 1H close below 0.8750, Target 1 at 0.8421 and Target 2 at 0.8000 both reached, with price bottoming around 0.7771 before recovering. That's a completed move, and I'm starting clean. The invalidation at 0.8970 was also touched at some point during that swing, but the confirmation had already fired first and both targets printed — the structure played out as mapped. Now price is sitting at 0.8026, inside a messy chop band roughly between 0.78 and 0.89, with the daily trend firmly down and no structural reason to call a floor yet.

This is a downtrend with a completed short leg and no clean re-entry. I'm not chasing the bounce here — price has already recovered from the 0.7771 low, the daily trend is still making lower highs and lower lows, and the nearest resistance zone at 0.8359 carries a dense liquidation cluster that is going to cap any rally hard. The funding rate is negative, meaning shorts are paying longs — there's a crowd of shorts on this, which creates squeeze risk to the upside, but I'm not fading the daily trend from the middle of a range. The honest setup is the same structure as last time: let price rally into resistance, then fade the rejection.