$VELVET (1h) - Resistance Rejection Short


Bias: Short
Entry (Zone): 0.1085 - 0.1105
Targets:
TP1: 0.1050
TP2: 0.1020
TP3: 0.0990
Stop Loss: 0.1142
Why this Setup:
I’m seeing a strong push into local resistance followed by a clear rejection wick, so I want to fade the move on a retrace. If price loses momentum here, I expect a move back into the prior breakout area before any deeper continuation.
VELVET10.12%
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