$MAGMA is moving fast — this is where I would stop chasing and watch the reaction.
What stands out here is that volume is running about 88.2x its recent pace, the 1H move is -14.50%, and open interest is down 16.0%. That gives the move real context instead of treating every candle as a signal.
The next test is around $0.83581. A clean hold above that area would strengthen continuation; rejection there would make a pullback more likely.
Do you think $MAGMA has another leg left, or is this move already too stretched?
#MAGMA #Trading
Trade plan: LONG
Entry: $0.21171
SL: $0.06902
TP1: $0.83581
TP2: $0.83582
TP3: $0.83583
What stands out here is that volume is running about 88.2x its recent pace, the 1H move is -14.50%, and open interest is down 16.0%. That gives the move real context instead of treating every candle as a signal.
The next test is around $0.83581. A clean hold above that area would strengthen continuation; rejection there would make a pullback more likely.
Do you think $MAGMA has another leg left, or is this move already too stretched?
#MAGMA #Trading
Trade plan: LONG
Entry: $0.21171
SL: $0.06902
TP1: $0.83581
TP2: $0.83582
TP3: $0.83583
