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$CHIP (1h) - Bearish Rejection Short
Bias: Short
Entry (Zone): 0.0408 - 0.0416
Targets:
TP1: 0.0394
TP2: 0.0378
TP3: 0.0358
Stop Loss: 0.0443
Why this Setup:
I’m seeing a strong push into the 0.0430 area followed by a sharp rejection, which makes this a cleaner short setup as long as price stays below the recent highs. I want to sell rallies into resistance and look for a move back toward the prior breakout zones if momentum continues to fade.