source avatarTrader Steve

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$MU made a new high twice last week and handed it back inside the same hour both times. I stay long-biased, but not here — I want the pullback into last week's unfilled gap, where the 4h 20-period average and the 38% retracement of this leg stack up. Context: four higher daily swing lows since late July, and the structure shift confirmed on a close above the early-September high. Price sits in the upper part of that leg — where chasing gets punished. Five of six perspectives cleared the risk-reward filter. All five read long: - structure and liquidity, the strongest of the set - news and macro/trend, agreeing with less room - the lone short came from divergence and failed the filter Those references overlap, which is why a resting limit beats a chase. On ICT: bias is long after four rising lows, but price is deep in the premium half of the leg. Last week's sweep above the prior high reversed inside the same candle on the week's lightest volume. Where I'm wrong: if the gap fills completely and the 12h closes below its lower edge, the higher-low sequence breaks and this advance re-reads as a bounce. Risk: earnings after the close on the 30th — a double-digit day is on the table. If price never comes down, there is no trade. Published by YTIlab · OMNISIGHT REPORT Not investment advice. All decisions and responsibility are your own.

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