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$PIPPIN – Hidden Trap Emerges as Overbought Conditions Signal Weak Bounce
Trade Setup: Short $PIPPIN
• Entry Zone: 0.02569 – 0.02587
• Target 1: 0.02511
• Target 2: 0.02467
• Target 3: 0.02400
• Stop Loss: 0.02667
The daily trend remains firmly bearish while the fifteen minute RSI reading of 60.3 indicates overbought conditions within a weak rebound against the broader downtrend. This divergence creates a favorable short entry window with downside targets positioned to capture the next leg lower.
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