$SKHY fell hard for two straight sessions with the memory names and is now bouncing off the lows. I lean bearish, but I'm not selling here. I'm waiting for the bounce to reach the zone where the broken double bottom and the crash gap overlap. Context: the daily broke its October low, and the 12h kept printing lower highs before cutting through its prior low. Volume expanded on the drop and faded on the bounce. - Three of four technical methods point down - The prior call's bearish structure is still intact; its stop was never touched Several independent levels sitting in one place above price is what makes the zone worth waiting for. ICT read: higher and lower timeframes agree, so order flow favors selling rallies. The entry zone stacks the upper part of the 4h fair value gap, the broken double bottom acting as a breaker, and the optimal retracement of the leg. The target is liquidity under the twin lows. Where I'm wrong: if the 4h closes back above the swing high where the crash started, and above the 4h 20 EMA, the bearish premise is gone. Risks: 1h RSI near 17 is deeply oversold, and record earnings could fuel a sharp bounce. Jobs and CPI can swing chips hard. Published by YTIlab · OMNISIGHT REPORT Not investment advice. All decisions and responsibility are your own.
Trader SteveShare

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