Down 11.34% in a day, and I’m still thinking about shorting it—it sounds like chasing the move, but once I lay out the data, you’ll see why. $INJ is trading at 7.04, with a 24-hour high of 8.00, a low of 6.56, and $29.2M in trading volume.
In plain English: a drop this steep accompanied by high volume means sellers haven’t let up at all. People holding spot are in the toughest position right now—if they sell, they’re afraid of selling at the bottom; if they don’t, they’re afraid it’ll drop another leg tomorrow.
I’m leaning toward watching for a short, not chasing one. I’d wait for a bounce back near 7.28, the 24-hour midpoint, before reassessing. But if it moves straight above 8.00, I’ll take back this view—that would mean the bears have run out of steam.
Direction: Watch for a short; don’t chase one now. Reference range: 7.04–7.28; wait for a bounce near 7.28 before reassessing. Invalidation level: above 8.00. Target: 6.20. Risk level: high. Assuming an entry near 7.28, the loss at the invalidation level would be about 0.72, while the potential gain at the target would be about 1.08, giving a risk-reward ratio of around 1.5.
INJ has fallen to 7.04. Is shorting still going with the trend, or am I already chasing the move?
For reference only; not investment advice. Please manage your position size.
$INJ
#INJ #TradingOpportunity
In plain English: a drop this steep accompanied by high volume means sellers haven’t let up at all. People holding spot are in the toughest position right now—if they sell, they’re afraid of selling at the bottom; if they don’t, they’re afraid it’ll drop another leg tomorrow.
I’m leaning toward watching for a short, not chasing one. I’d wait for a bounce back near 7.28, the 24-hour midpoint, before reassessing. But if it moves straight above 8.00, I’ll take back this view—that would mean the bears have run out of steam.
Direction: Watch for a short; don’t chase one now. Reference range: 7.04–7.28; wait for a bounce near 7.28 before reassessing. Invalidation level: above 8.00. Target: 6.20. Risk level: high. Assuming an entry near 7.28, the loss at the invalidation level would be about 0.72, while the potential gain at the target would be about 1.08, giving a risk-reward ratio of around 1.5.
INJ has fallen to 7.04. Is shorting still going with the trend, or am I already chasing the move?
For reference only; not investment advice. Please manage your position size.
$INJ
#INJ #TradingOpportunity