$INJ HTF Update: Revised Bottom Target + opening Swing Short :
If you remember, my previous bottom target for INJ was around $1.20. However, after analysing the latest price movements and reassessing the current structure, I’ve revised my projection.
My updated bottom target is now in the $2.70–$3.00 range, representing a potential downside of approximately 70–72% from current levels.
Here’s the reasoning behind this revision:
Within the NEoWave framework, the current structure appears to be developing as a Double Combination. Comparing it with the 2022 structure helps us better understand INJ’s position within the larger corrective formation.
What’s particularly interesting is how the current structure continues to rhyme with the 2022 formation, with each stage developing in a similar sequence.
The current Double Combination appears to be approaching completion. However, before INJ can begin its next major bull cycle, I’m watching for one final downside impulse toward the previous bottom zone, potentially reaching the $2.70–$3.00 range.
Looking back at the 2022 structure, we can observe a similar sequence: following wave B, price declined into wave C, returning to the previous bottom zone and reaching slightly above it. Price subsequently developed waves D and E before transitioning into a new bullish cycle.
My expectation is that INJ could follow a similar path. One final corrective decline may still be ahead before the larger structure completes.
My Trading Plan:
Based on this framework and my confidence in the projected structure, I’ve decided to open a swing short on $INJ .
First entry: Around $8.060
Potential DCA: Around $9.00, if the market provides the opportunity
Target zone: $2.70–$3.00
Once INJ reaches this area, I’ll be watching closely for signs that the larger corrective structure has completed and a new bullish phase is beginning.
If you remember, my previous bottom target for INJ was around $1.20. However, after analysing the latest price movements and reassessing the current structure, I’ve revised my projection.
My updated bottom target is now in the $2.70–$3.00 range, representing a potential downside of approximately 70–72% from current levels.
Here’s the reasoning behind this revision:
Within the NEoWave framework, the current structure appears to be developing as a Double Combination. Comparing it with the 2022 structure helps us better understand INJ’s position within the larger corrective formation.
What’s particularly interesting is how the current structure continues to rhyme with the 2022 formation, with each stage developing in a similar sequence.
The current Double Combination appears to be approaching completion. However, before INJ can begin its next major bull cycle, I’m watching for one final downside impulse toward the previous bottom zone, potentially reaching the $2.70–$3.00 range.
Looking back at the 2022 structure, we can observe a similar sequence: following wave B, price declined into wave C, returning to the previous bottom zone and reaching slightly above it. Price subsequently developed waves D and E before transitioning into a new bullish cycle.
My expectation is that INJ could follow a similar path. One final corrective decline may still be ahead before the larger structure completes.
My Trading Plan:
Based on this framework and my confidence in the projected structure, I’ve decided to open a swing short on $INJ .
First entry: Around $8.060
Potential DCA: Around $9.00, if the market provides the opportunity
Target zone: $2.70–$3.00
Once INJ reaches this area, I’ll be watching closely for signs that the larger corrective structure has completed and a new bullish phase is beginning.