UNI · 1H · DOWNTREND

The previous short from my last read triggered on a close below 7.30, then got stopped out when price pushed through 7.53 — that's the fact I'm starting from. The stop-out was clean: price closed through 7.53, which was my stated invalidation. Per my own rules, I can't re-enter short until price makes a fresh lower low beneath the low that preceded this bounce. That low is around 7.00. What I'm looking at now is a 1H chart that's been in a hard downtrend — every MA still in bear stack, EMA 200 at 8.17 far overhead — but the daily trend is up, which means this whole 1H collapse from 10.94 is a counter-trend move on the bigger frame. Price is currently sitting just under the 7.56 dense liquidation cluster, the EMA 9 and EMA 20 are converging with price right at that level, and the last closed candle printed 7.47. The news confirms Stove Finance's tokenized equities went live on Uniswap this week — that's a real catalyst that could explain why longs are paying shorts at a modest 0.01% and why price found footing after the flush to 7.00.

The honest read here: I'm not short because my stop was taken and no fresh lower low exists. I'm not long either, because a close above 7.53 — the dense cluster that stopped me out — is the minimum I'd need, and price is approaching it from below on the forming candle which hasn't closed. One more closed 1H candle above 7.53 would change my view entirely.