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$CHIP (1H) - Bearish Retracement Short
Bias: Short
Entry (Zone): 0.0598 - 0.0610
Targets:
TP1: 0.0582
TP2: 0.0568
TP3: 0.0545
Stop Loss: 0.0622
Why this Setup:
I’m watching for a weak bounce into resistance after the sharp selloff, with price still trading below the recent breakdown area. I want to short any rejection in this zone because failed recovery attempts often roll back toward the prior lows first, then extend if selling pressure returns.
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