INJ · 1H · SIDEWAYS
Price made a clear peak around 5.50 in mid-July, sold off hard into the 4.40–4.50 zone by late July, and has since bounced back to the 4.94 area where it's sitting right now — essentially the midpoint of the broader range. The structure is choppy, no clean higher highs or lower lows on this timeframe, and price is caught between 4.80 support and 5.10–5.15 resistance. Mid-range is the worst place to be initiating anything — I'm not touching this until price reaches one of the extremes and shows me a reaction I can work with.
LONG (CONDITIONAL) SCENARIO
Confirmation
4.80
Holding above 4.80 on a pullback and closing back above 5.00 confirms bullish structure off range support.
Invalidation
4.75
Structure invalidated below 4.75.
SHORT (CONDITIONAL) SCENARIO
Confirmation
5.10
Rejection at 5.10–5.15 with a close back below 5.00 confirms bearish structure off range resistance.
Invalidation
5.20
Close above 5.20.
Resistance: 5.10–5.15 / 5.35
Support: 4.80 / 4.50
This is not financial advice. Content is AI-generated.