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$VELVET (1h) - Rejection Short
Bias: Short
Entry (Zone): 0.465 - 0.480
Targets:
TP1: 0.445
TP2: 0.430
TP3: 0.408
Stop Loss: 0.512
Why this Setup:
I’m looking for a short here because price has already made a sharp impulsive move into a clear resistance area, and the recent candles are showing exhaustion after the spike. If buyers fail to reclaim the upper range with acceptance, I expect a rotation back toward the nearest support and liquidity below.