Short $CHIP : price sits at 0.0522, the 4H resistance sellers must defend.
Reject 0.0522 → 0.0500, then 0.0488.
Reclaim 0.0537 → the idea is off the table.
I wait for sellers to step in here and push it back down.
What backs it:
- 4H price 0.0521 above EMA50 0.0459: this is a fade against the trend, so the stop matters
- Risk 3.1% to SL vs 6.3% to TP3: about 2.0R if the full move plays out
- 1H RSI 69: stretched, room to cool off
🔴 SHORT · Entry 0.05195–0.05221 · TP 0.05085 / 0.05003 / 0.04880 · SL 0.05372
NFA · DYOR
Reject 0.0522 → 0.0500, then 0.0488.
Reclaim 0.0537 → the idea is off the table.
I wait for sellers to step in here and push it back down.
What backs it:
- 4H price 0.0521 above EMA50 0.0459: this is a fade against the trend, so the stop matters
- Risk 3.1% to SL vs 6.3% to TP3: about 2.0R if the full move plays out
- 1H RSI 69: stretched, room to cool off
🔴 SHORT · Entry 0.05195–0.05221 · TP 0.05085 / 0.05003 / 0.04880 · SL 0.05372
NFA · DYOR
