UNI · 1H · SIDEWAYS
The short from my last read ran the full distance — confirmation triggered on October 23, Target 1 at 6.68 reached, Target 2 at 6.46 reached. That's a completed move, and I'm starting clean from it. What I'm looking at now is price grinding back up from the 6.25 low, recovering through the 6.50s and 6.70s, and now sitting at 6.97 with the EMA 9, 20, and 50 all clustered tightly between 6.97 and 6.99 — essentially coiled right at the EMA 200 at 7.01. The daily trend is sideways, and the 1H picture confirms it: no clean directional bias, just a recovery off a spike low that's now churning at MA confluence. I'm not taking anything here from the middle of that mess. The nearest structural decision sits above at 7.04 — a dense liquidation cluster that price hasn't been able to close through — and below at 6.78, the next dense cluster that rejected the recovery once already. Until one of those levels breaks with conviction, I'm watching, not trading.
LONG (CONDITIONAL) SCENARIO
Confirmation
6.78
On a pullback to the 6.78–6.85 zone, a 1H close back above 6.85 confirms the reclaim and bullish structure holding above the cluster.
Invalidation
6.70
1H close below 6.70 — that puts price back below the cluster and signals the recovery is failing.
Target 1
7.04
Dense liquidation cluster overhead, first magnet and highest-probability stall.
Target 2
7.34
Next dense cluster above, extended objective if 7.04 gives way on a close.
Risk/Reward
(7.04 − 6.85) / (6.85 − 6.70) = 0.19 / 0.15 = 1.3:1
SHORT (CONDITIONAL) SCENARIO
Confirmation
7.04
On a rally to the 7.04–7.10 zone (the dense liquidation cluster and EMA 200 band), a 1H close back below 7.00 confirms the rejection and bearish structure reasserting.
Invalidation
7.15
1H close above 7.15 — that clears the cluster and the EMA 200 with room, and the lower-high sequence from the 7.50 high is broken.
Target 1
6.78
Dense cluster below, first magnet on a rejection.
Target 2
6.37
Next dense cluster, extended flush objective if 6.78 gives way.
Risk/Reward
(7.00 − 6.78) / (7.15 − 7.00) = 0.22 / 0.15 = 1.5:1
Resistance: 7.04 (dense liquidation cluster) / 7.34 (dense liquidation cluster)
Support: 6.78 (dense liquidation cluster) / 6.37 (dense liquidation cluster)
This is not financial advice. Content is AI-generated.