$CHIP Short 10x | Sellers are holding the line I anticipated.
CHIP is at the critical level that distinguishes a solid short from a failed attempt. This is the point where sellers need to step up, or the trade loses its advantage.
Trade Plan:
- Entry: 0.04158 – 0.04176
- TP1: 0.04102 (R:R 1:0.7)
- TP2: 0.04059 (R:R 1:1.2)
- TP3: 0.03994 (R:R 1:2.0)
- SL: 0.04254
Why this setup?
- The setup remains intact due to the 4h structure aligning with the range-bound 1D context at this target zone.
- RSI15 at 46 indicates neutral momentum, allowing for potential downside; I want sellers to capitalize on that space, not merely graze it.
- Current volume sits at 4.00x, with 1.33M traded against 331.65K expected, highlighting genuine sell-side engagement.
Trade here 👇 and Are we seeing supply hold firm, or is a breakdown still a possibility?
EDUCATIONAL INFORMATION ONLY. NO ADVICE, OFFER, SOLICITATION, OR RECOMMENDATION. YOUR MOVE, YOUR RISK.
CHIP is at the critical level that distinguishes a solid short from a failed attempt. This is the point where sellers need to step up, or the trade loses its advantage.
Trade Plan:
- Entry: 0.04158 – 0.04176
- TP1: 0.04102 (R:R 1:0.7)
- TP2: 0.04059 (R:R 1:1.2)
- TP3: 0.03994 (R:R 1:2.0)
- SL: 0.04254
Why this setup?
- The setup remains intact due to the 4h structure aligning with the range-bound 1D context at this target zone.
- RSI15 at 46 indicates neutral momentum, allowing for potential downside; I want sellers to capitalize on that space, not merely graze it.
- Current volume sits at 4.00x, with 1.33M traded against 331.65K expected, highlighting genuine sell-side engagement.
Trade here 👇 and Are we seeing supply hold firm, or is a breakdown still a possibility?
EDUCATIONAL INFORMATION ONLY. NO ADVICE, OFFER, SOLICITATION, OR RECOMMENDATION. YOUR MOVE, YOUR RISK.
