$INJ is up 15.51% over 30 days, 10.0 points ahead of BTC, and it's parked 0.2% above its daily EMA20. that's the whole setup.
the week has been quiet at +0.48%, but a quiet week after a strong month is a coin catching its breath, not giving up. it's holding the line while the rest of the month's gain stays intact.
the soft spot is volume. the last 5 days ran at 0.63x the 20 days before, and the daily MACD histogram is still negative. the screener scores this 8 out of 14, so it's a decent setup and not a great one. I'm taking it anyway because the downside is so close and so clearly marked.
close to the line, cheap to be wrong. that's the trade.
$INJ trades at $7.39 right now, with a 24h range of $7.19 to $7.57. if it holds $7.38668, I think it grinds up to the 20-day mean at $7.7157, about 4.3% away. if it loses $7.38668 on a daily close, I'm wrong on this and there's nothing to defend. anyone long from here takes that loss with me.
holding $7.38668 or losing it?
follow me for more calls like this.
the week has been quiet at +0.48%, but a quiet week after a strong month is a coin catching its breath, not giving up. it's holding the line while the rest of the month's gain stays intact.
the soft spot is volume. the last 5 days ran at 0.63x the 20 days before, and the daily MACD histogram is still negative. the screener scores this 8 out of 14, so it's a decent setup and not a great one. I'm taking it anyway because the downside is so close and so clearly marked.
close to the line, cheap to be wrong. that's the trade.
$INJ trades at $7.39 right now, with a 24h range of $7.19 to $7.57. if it holds $7.38668, I think it grinds up to the 20-day mean at $7.7157, about 4.3% away. if it loses $7.38668 on a daily close, I'm wrong on this and there's nothing to defend. anyone long from here takes that loss with me.
holding $7.38668 or losing it?
follow me for more calls like this.