source avatarTrader Steve

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$EWY just round-tripped most of the August breakdown in a single session. I'm bullish, but I'm not buying up here. My bid is 182.20–183.80, well below the 190 area price is retesting now. The gap between price and that bid is the trade. I'd rather miss it than chase it. August: 190 fails, price bleeds to 174. Then the lows stop going lower — 174, then 176, then 181. Sep 4 does 4.6% in one day and puts 190 back in play. That vertical move left things behind: - an unfilled gap from the run itself - 183, resistance on the way down - the one-month average in the same pocket - the 181 higher low just underneath Four reasons landing in a 1.6-point band. Not a level I drew, one the market keeps coming back to. Entry 182.20–183.80, a resting limit inside the band. Target 190.11. Stop 179.70. The stop is not a percentage. Below 180 the gap from the 4.6% day closes and the 174→176→181 sequence breaks. Those were the two reasons I was long. If both are gone, I'm wrong. Risks: US markets are closed Monday while Korea trades, so Tuesday can gap either way. Samsung and SK Hynix are over 40% of this fund, so one memory headline moves it more than an index should. Published by YTIlab · OMNISIGHT REPORT Not investment advice. All decisions and responsibility are your own.

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