INJ · 1H · DOWNTREND
My last two reads both got invalidated at 7.58 — the zone I flagged as the line between "daily uptrend pullback" and "something worse." Price sliced through it and is now sitting at 7.664, right on top of the dense liquidation cluster I had marked below at 7.58. That cluster has been tagged, so the fuel beneath it has been at least partially spent. The daily trend is still up, so I'm treating this as a deep pullback, not a structural breakdown. But two consecutive failed long setups mean I'm not reaching for a bottom here without a clean reclaim signal. I'm waiting for this zone to prove itself before I commit to anything.
The dense cluster at 7.58 sitting directly under current price kills my interest in fading into the daily trend from the short side — cascades through there have already fired, the fuel that would power a flush is largely spent. The setup I want is long, but I need the zone to hold and a clear reclaim, not a hope.
LONG (CONDITIONAL) SCENARIO
Confirmation
7.58
On a pullback or continued chop in the 7.58–7.70 zone, a 1H close back above 7.70 confirms the reclaim. Note: the 7.80 dense cluster is a waypoint sitting just above — I'm not treating it as Target 1, it's an obstacle the move has to clear on the way to the real structural objective at 8.22.
Invalidation
7.25
A 1H close below 7.25 — through the next dense cluster below, signalling the daily structure is genuinely breaking.
Target 1
8.22
Dense liquidation cluster above, the nearest structural magnet and most likely first stall point.
Target 2
8.57
Next cluster above, extended target if 8.22 clears with momentum.
Risk/Reward
(8.22 − 7.70) / (7.70 − 7.25) = 0.52 / 0.45 = 1.2:1
Resistance: 7.80 / 8.22
Support: 7.58 / 7.25
This is not financial advice. Content is AI-generated.