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$VELVET (1h) - Bearish Rejection Setup
Bias: Short
Entry (Zone): 0.4580 - 0.4680
Targets:
TP1: 0.4420
TP2: 0.4280
TP3: 0.4100
Stop Loss: 0.4890
Why this Setup:
I’m still bearish here because price rejected the recent highs and is failing to reclaim the 0.46-0.47 resistance area cleanly. I’m looking for continuation lower if the current bounce loses momentum and sellers step back in under the recent range.