LINK · 1H · DOWNTREND
Both targets from my last short read hit cleanly — 10.46 and 10.16 both reached — so that move is fully completed. Price has since bounced from the 10.13 low, rallied into the 10.60–10.75 zone where the EMA 9/20/50 cluster is converging, and is now back down to 10.48. The structure is still a downtrend: lower highs throughout the entire chart window, the EMA 200 descending at 10.92, and every bounce getting absorbed by the falling MA stack. I'm not chasing a fresh short from here mid-range — the nearest clean entry is a rally back into the MA cluster, then a rejection confirmed by a 1H close back below.
SHORT SCENARIO
Confirmation
10.65
On a rally to the 10.65–10.75 zone (the converging EMA 9/20/50 cluster), a 1H close back below 10.60 confirms rejection and bearish continuation.
Invalidation
10.92
Structure invalidated above 10.92 — a 1H close through the descending EMA 200 breaks the rejection thesis.
Target 1
10.16
The dense liquidation cluster directly below and the prior swing low; primary magnet.
Target 2
9.94
Next liquidation cluster below; full leg if selling pressure extends.
Risk/Reward
(10.60 – 10.16) / (10.92 – 10.60) = 0.44 / 0.32 = 1.4:1
Resistance: 10.75 (dense liquidation cluster / EMA stack convergence) / 10.92 (EMA 200)
Support: 10.16 (dense liquidation / prior swing low) / 9.94 (dense liquidation cluster)
This is not financial advice. Content is AI-generated.