Most traders are still bullish on $MAGMA/USDT but this setup points the other way. ๐
$MAGMA โ SHORT
Trade Plan:
Entry: 0.3008600 โ 0.3020400
๐ SL: 0.3193472
๐ฏ TP1: 0.2880271
๐ฏ TP2: 0.2790785
๐ฏ TP3: 0.2656557
Why this setup?
The 15m RSI is sitting around 29.31, showing oversold conditions, but the higher timeframe trend remains weak and range bound. With a controlled stop above 0.3193, this setup aims to capture a potential rejection while managing risk. A move to TP1 would deliver roughly a 4.5% decline if bearish momentum continues.
What do you think?
Will $MAGMA bounce from oversold levels, or will the bearish setup take control? Share your view below.
Trade $MAGMA here ๐
#MAGMAUSDR
#MAGMASHORT
$MAGMA โ SHORT
Trade Plan:
Entry: 0.3008600 โ 0.3020400
๐ SL: 0.3193472
๐ฏ TP1: 0.2880271
๐ฏ TP2: 0.2790785
๐ฏ TP3: 0.2656557
Why this setup?
The 15m RSI is sitting around 29.31, showing oversold conditions, but the higher timeframe trend remains weak and range bound. With a controlled stop above 0.3193, this setup aims to capture a potential rejection while managing risk. A move to TP1 would deliver roughly a 4.5% decline if bearish momentum continues.
What do you think?
Will $MAGMA bounce from oversold levels, or will the bearish setup take control? Share your view below.
Trade $MAGMA here ๐
#MAGMAUSDR
#MAGMASHORT