$MAGMA — Rejection Under 0.26063 Descending Resistance, Flush Incoming 📉
Trade Plan: Short $MAGMA
Entry: 0.252 - 0.260
SL: 0.28280
TP: 0.22407 | 0.18827 | 0.15497
Why this Setup?
MAGMA has sharply bounced from 0.18827 but is now pushing into the descending resistance around 0.26063, creating a clear rejection zone. Failure to reclaim this trendline could send MAGMA back through 0.22407 and toward the deeper support levels at 0.18827 and 0.15497. As long as 0.28280 holds, the bearish setup remains valid.
Trade $MAGMA here 👇
Trade Plan: Short $MAGMA
Entry: 0.252 - 0.260
SL: 0.28280
TP: 0.22407 | 0.18827 | 0.15497
Why this Setup?
MAGMA has sharply bounced from 0.18827 but is now pushing into the descending resistance around 0.26063, creating a clear rejection zone. Failure to reclaim this trendline could send MAGMA back through 0.22407 and toward the deeper support levels at 0.18827 and 0.15497. As long as 0.28280 holds, the bearish setup remains valid.
Trade $MAGMA here 👇
