UNI · 1H · UPTREND

Both short setups from my last two reads are stopped out — the invalidation at 7.53 was reached and price has since pushed to 7.79 on the high. The short thesis is dead, and I'm not chasing it. What I'm looking at now is a chart that recovered from the 6.88 low, cleared 7.53 cleanly, spiked to 7.79, and is now pulling back into the EMA 9/20 cluster which is rising steeply through the 7.45–7.50 area today. The daily trend is sideways, so I'm not calling this a clean trend trade — but within that sideways context, the 1H structure is clearly printing higher lows since the 18 Oct flush, and the pullback here looks like a time correction resolving into the moving averages rather than a breakdown.

The liquidation cluster at 7.65 is the nearest overhead magnet, dense enough to be a genuine target, and the cluster at 7.38 sits just below the current EMA 9/20 band — that's my natural stop zone. Funding is a mild positive (longs paying shorts at 0.01% per 8h) which doesn't signal a crowded squeeze risk, so I'm not fading this on positioning. The 8-hour note from Oct 17 caught the early leg of the move from 7.18 to 7.46; that move has since extended significantly and confirms the recovery was real. I'm waiting for the pullback to confirm support at the rising EMA cluster before adding any directional conviction here.