source avatarTrader Steve

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$INTC has held 85-86 four separate times in two weeks. I'm long into that zone, with 83.95 as the line that ends it. What I keep arguing with myself about: the larger trend is still down. This is a counter-trend bounce, not a bottom call. Price came off 142 in June and printed 87. The slide has been steep and one-directional. What sits at 85-86: - Four defended touches in two weeks - A volume vacuum through the band, where price travels fast on little trade - The CEO bought stock with personal money last week, in this same area Any one alone is a coin flip. Three in one band is where I take defined risk. Entry 85.30-86.00, staggered limits. I want fills inside the shelf that already absorbed four tests, not above it. Target 89.20, first objective. Stop 83.95 - below the shelf, so a wick through 85 doesn't remove me. A close under it does. I'm wrong if INTC closes below 85. Four holds turning into a fifth break is how this fails. Risks: the US cash session is still closed, so the book is thin and the open can swing hard. I'm also fading the dominant trend, so size stays small. Published by YTIlab · OMNISIGHT REPORT Not investment advice. All decisions and responsibility are your own.

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