INJ · 1H · DOWNTREND
Both previous reads hit Target 2 — the long from 4.00 ran to 5.24+ and the move is now a completed impulse. Price peaked near 6.00 on this chart and has been grinding lower ever since, printing a clear sequence of lower highs and lower lows from that 6.00 swing high down through 5.50, 5.20, and now sitting at 5.054. The completed long target means I'm not looking to ride continuation — I'm reading the rollover from 6.00 as a new distribution leg, and the structure since the 25th is a staircase down with each bounce failing at a lower high. Funding is mildly long-biased at 0.0100% per 8h — nothing extreme, but it confirms longs are still holding positions that will need to unwind if support breaks. The dense liquidation cluster at 4.93 just below current price is the first magnet, and the 4.55 cluster below that is the real draw if that gives way.
SHORT SCENARIO
Confirmation
5.20
Rejection at 5.20–5.24 with a close back below 5.10 confirms bearish structure — that zone was prior support turned resistance and aligns with where the last bounce capped out; at that moment price will have printed a lower high inside the established downtrend.
Invalidation
5.49
Structure invalidated on a close above 5.49 — that reclaims the dense liquidation cluster above and breaks the sequence of lower highs visible across the right side of this chart.
Target 1
4.93
Dense liquidation cluster just below current price; first structural draw and where a stop-hunt sweep is most likely to stall initially.
Target 2
4.55
Dense liquidation cluster below, aligns with the visible swing support zone from mid-August; this is where the move exhausts if 4.93 gives way cleanly.
Risk/Reward
(5.20 − 4.93) / (5.49 − 5.20) = 0.27 / 0.29 ≈ 0.9:1 at confirmation; extending to Target 2: (5.20 − 4.55) / (5.49 − 5.20) = 0.65 / 0.29 ≈ 2.2:1
Resistance: 5.20 / 5.49
Support: 4.93 / 4.55
This is not financial advice. Content is AI-generated.