$INJ is trading inside a well-defined descending channel after rejecting the 6.11 resistance, showing strong bearish continuation structure on the 1H and 4H timeframes..........
Sellers have dominated every bounce with aggressive distribution and rising volume on pullbacks, confirming clear exhaustion at higher levels..........
Price is now retesting the broken 5.60 support (now resistance) as resistance with a bearish engulfing candle; as long as this level caps upside, momentum strongly favors a breakdown toward lower liquidity pools..........
Trade Setup (Short)
Entry Range: 5.35 – 5.42
Target 1: 5.20
Target 2: 5.00
Target 3: 4.80
Stop Loss: 5.55
Risk management advised. Position valid as long as price stays below 5.60.
INJ
5.38
-5.77%