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$KGEN (1h) - Rejection Short
Bias: Short
Entry (Zone): 0.1940 - 0.1995
Targets:
TP1: 0.1860
TP2: 0.1785
TP3: 0.1700
Stop Loss: 0.2055
Why this Setup:
I see a strong push into the highs, but the move is starting to lose momentum and price is stalling just under resistance. I want to fade this extension if the rally fails to hold above the recent peak, since a rejection from this area could trigger a pullback back into the prior breakout levels.