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$CHIP Short 50x – Rejection zone is live.
CHIP is weakening from the 0.06996–0.07119 zone, so I entered a Short 50x Isolated position.
Trade Plan:
- Entry: 0.06996 – 0.07119
- TP1: 0.06685 (R:R 1:1.0)
- TP2: 0.06561 (R:R 1:1.3)
- TP3: 0.06313 (R:R 1:2.0)
- SL: 0.07430
Why this setup?
- 4h short structure remains intact, while the daily range-bound backdrop persists and price continues reacting from 0.06996–0.07119 near 0.07057.
- 15m RSI sits at 34, indicating stretched downside momentum—follow-through is key here.
- 15m volume prints 1.31x, with 19.99M traded versus 15.27M expected, confirming real sell-side participation.
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