UNI · 1H · UPTREND
Price bottomed around 2.75 in late June, then launched a near-vertical move that carried it all the way to 3.70 — a full dollar of upside in just over a week. The structure is clean: higher lows and higher highs stacking from the July 2 lows, with the most recent leg printing fresh highs around 3.70 before pulling back to where price sits now at 3.625. I'm watching this pullback closely — after a move this extended on the 30-min/1H, I want to see where the first meaningful demand level holds before committing. The red dashed horizontal on the chart around 3.60 lines up with prior consolidation resistance-turned-support, and that's my pivot.
I'm not chasing here. The move from 2.75 to 3.70 is roughly 35% in a week — that's extended. I'm letting price breathe and waiting for a defined re-entry, not buying into a candle that's already mid-pullback with no confirmation. If 3.50 holds and price coils back above 3.60, I'm long with a clear thesis. If it slices through 3.50 without a base, I'm stepping aside entirely and reassessing at the 3.20–3.25 zone.
LONG (CONDITIONAL) SCENARIO
Confirmation
3.50
Holding above 3.50 with a close back above 3.60 confirms bullish structure and continuation of the uptrend.
Invalidation
3.50
Structure invalidated below 3.50 on a clean close — opens the door to 3.25.
Target 1
3.70
(recent swing high, first structural resistance).
Target 2
3.80
+ (measured extension from the breakout base).
Risk/Reward
(3.70 - 3.60) / (3.60 - 3.50) = 1.0:1 to T1 — acceptable only with T2 in play at ~2.0:1
Resistance: 3.70 / 3.80
Support: 3.50 / 3.25
This is not financial advice. Content is AI-generated.