INJ · 1H · UPTREND
Price carved out a major bottom around 4.60–4.70 in mid-July, then launched a near-vertical move up to the 5.50 area — that's the dominant structure I'm reading here. Right now price is pulling back from that 5.50 swing high and sitting at roughly 5.22, which is an area that previously acted as resistance during the mid-range chop before the breakout. My bias is long — the higher low structure from the 4.60 base is intact, and this pullback is giving me a re-entry opportunity closer to structure rather than chasing the spike. I'm watching whether 5.20 holds as the first real test of former resistance flipping support. The news context mentions broad market weakness in major indexes and macro uncertainty — that's the headwind I'm factoring in, which is why I'm not loading up before seeing confirmation that this level holds with a clean close.
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LONG SCENARIO
Confirmation
5.20
Holding above 5.20 on a 1H close with a reclaim of 5.28 confirms bullish structure and continuation of the post-breakout trend.
Invalidation
5.00
Structure invalidated below 5.00 — that's the prior congestion ceiling and a decisive close under it flips the read.
Target 1
5.40
Prior swing resistance from the recent high cluster.
Target 2
5.50
The swing high printed on the breakout move.
Risk/Reward
(5.40 - 5.28) / (5.28 - 5.00) = 0.43 : 1 to T1 / (5.50 - 5.28) / (5.28 - 5.00) = 0.8:1 to T2 — tight until T2, so I'm sizing accordingly and targeting the full extension
Resistance: 5.40 / 5.50
Support: 5.20 / 5.00
This is not financial advice. Content is AI-generated.