WULF · 1D · SIDEWAYS
I'm not touching this here — no clean entry at 16.30 with price chopping between well-defined levels, and today's -5.65% candle is pulling it back from a clean resistance rejection. The structure since late July has been a grind between roughly 14.50 support and 18 resistance, with the EMA 9/20 cluster now rolling over into price from above. The recent push from mid-14s to 17.65, which the news confirms was a momentum-driven AI power proxy bid, has now stalled right where I'd expect it to — under the EMA 50 (17.48) and the EMA 200 (18.40), both of which acted as a ceiling on this latest bounce. Price is back at the dashed horizontal at 16, which has been a pivot multiple times this year. I'm waiting for either a clean hold at support with a reversal candle, or a break of 14.50 that clears the range low before I put anything on.
LONG (CONDITIONAL) SCENARIO
Confirmation
15.50
Holding above 15.50 with a close back above the EMA 9/20 cluster (currently near 16.44–16.54 and declining — price must reclaim this on a daily close) confirms the range support is holding and the bounce has legs.
Invalidation
14.50
Daily close below 14.50 breaks the range and voids the setup entirely.
Target 1
18.00
The prior resistance that capped the September bounce and sits just below the declining EMA 200 (18.40).
Target 2
19.50
The next structural level where price consolidated briefly in late July before the flush.
Risk/Reward
(18.00 - 16.44) / (16.44 - 14.50) = 1.56 / 1.94 ≈ 0.8:1 — this does not clear the minimum, so I'm not pulling the trigger from here. I need price to stabilize closer to 15.50 before the math works.
SHORT (CONDITIONAL) SCENARIO
Confirmation
16.44
Rejection at the declining EMA 9/20 cluster near 16.44–16.54 with a close below 16.00 confirms the range ceiling is intact and sellers are back in control.
Invalidation
17.48
Daily close above the EMA 50 at 17.48 reclaims too much structure for a short to hold.
Target 1
15.00
The mid-range support visible on multiple touches in August.
Target 2
14.50
The range low that has held since late July.
Risk/Reward
(16.44 - 15.00) / (17.48 - 16.44) = 1.44 / 1.04 ≈ 1.4:1
Resistance: 17.48 (EMA 50) / 18.00–18.40 (prior swing high + EMA 200)
Support: 15.00 / 14.50 (range low)
This is not financial advice. Content is AI-generated.