$INJ - SHORT Setup
Entry: 4.82 – 4.85 (On rejection from this resistance zone)
Target 1:4.75
Target 2:4.70
Stop Loss:4.88 (Above the recent high)
My View:
INJ is exhibiting clear bearish structure,having been rejected from higher levels and now consolidating in a downtrend. The price is currently in a weak retracement, approaching a defined resistance area. This zone aligns with a prior breakdown level and the upper boundary of the recent bearish consolidation. The order book data is not fully displayed, but the price action shows a consistent pattern of lower highs, confirming selling pressure. The current bounce lacks the momentum to challenge the established downtrend and appears corrective. The plan is to enter a short position on a confirmed rejection from the defined resistance area, anticipating a continuation of the downtrend towards the recent swing low and potentially lower support levels.
Bias: Bearish below 4.85. A break and hold above 4.88 would challenge the immediate bearish outlook.
Disclaimer:My plan. Not advice. Trade your own risk.
