$MU printed a violent wick up to $1,106.00 that swept liquidity above the consolidation highs before sellers drove price right back inside the bracket.
We are now compressing beneath a descending supply trendline just above the $1,072.00 intraday pivot. Bidding $1,082 here makes zero sense into heavy overhead supply at $1,090.00. I am waiting for this compression to resolve toward genuine demand rather than guessing the break.
Levels to trade:
- Bid zone: $1,042 to $1,048 (major higher low structural demand shelf)
- Take profit: $1,072 on initial rotation, runners to $1,090
- Invalidation hard stop: 1H candle close below $1,036. Cut it on the close without hesitation, no bagholding.
Tactical short alternative: if price tests $1,088 to $1,092 and prints a 1H rejection wick under the descending trendline, take the short fade down to $1,072 with a hard stop above $1,102.
We are now compressing beneath a descending supply trendline just above the $1,072.00 intraday pivot. Bidding $1,082 here makes zero sense into heavy overhead supply at $1,090.00. I am waiting for this compression to resolve toward genuine demand rather than guessing the break.
Levels to trade:
- Bid zone: $1,042 to $1,048 (major higher low structural demand shelf)
- Take profit: $1,072 on initial rotation, runners to $1,090
- Invalidation hard stop: 1H candle close below $1,036. Cut it on the close without hesitation, no bagholding.
Tactical short alternative: if price tests $1,088 to $1,092 and prints a 1H rejection wick under the descending trendline, take the short fade down to $1,072 with a hard stop above $1,102.
