INJ · 1H · DOWNTREND
The long from my last read triggered on a 1H close above 8.05 on Nov 8, then got stopped out when price cracked through 7.74 — the invalidation level I had flagged twice. That's two consecutive stopped-out longs on INJ, and the market has been clear about what it thinks of that zone. Price is now at 7.754, every MA is stacked bearishly above it (EMA 9 at 7.886, EMA 20 at 7.969, EMA 50 at 8.048, EMA 200 at 8.151), and the last candle was a large red breakdown bar on elevated volume. The structure is lower highs and lower lows across this entire window. I'm not fighting it with another long attempt here — the daily trend is sideways and the 1H is clearly pointing down.
The 7.73 liquidation cluster directly below current price is essentially at this level — that fuel may already be getting swept. A bounce from here back into the 8.05–8.15 zone (where the broken support, the EMA 9, and the EMA 50 all converge) is the cleaner short entry: I want to see the rejection confirmed before committing. The two dense clusters below at 7.27 and 7.13 are the natural targets if the structure continues to fail.
SHORT SCENARIO
Confirmation
8.05
On a rally to the 8.05–8.15 zone, a 1H close back below 8.00 confirms the rejection — that level was structural support twice, is now resistance, and sits beneath the converging EMA 9/50.
Invalidation
8.20
1H close above 8.20 — that reclaims the EMA 200 and breaks the sequence of lower highs, handing structure back to buyers.
Target 1
7.27
Dense liquidation cluster below, where the crowded long book gets run and momentum is most likely to stall first.
Target 2
7.13
The next dense cluster below, extended target if 7.27 clears with momentum.
Risk/Reward
(8.00 − 7.27) / (8.20 − 8.00) = 0.73 / 0.20 = 3.7:1
Resistance: 8.05 / 8.20
Support: 7.73 / 7.27
This is not financial advice. Content is AI-generated.