MAGMA is testing a tight 3% downside corridor after a sharp pullback, and the price is staring at a fresh supply zone.
š“ $MAGMA SHORT š ā Trade Plan
ā¢ Entry: $0.426923 ā $0.427777
ā¢ Stop: $0.440171 (-3.0%)
ā¢ Target 1: $0.420940 (+1.5%)
ā¢ Target 2: $0.405982 (+5.0%)
ā¢ R/R 1:1.7 | Confidence 64%
The market structure broke lower (CHoCH) while volume surged on the sell side (CVD), confirming the bias. A fair value gap lines up with an order block, and the recent liquidity sweep hit that POI, stacking OB and FVG overlap for confluence.
A 3.0% stop is relatively tight on this timeframe, so 5ā6x leverage keeps exposure appropriate.
Scale out half the position at the first profit target for a 1.7R payoff.
DYOR ā this isn't financial advice, size your risk accordingly š
$MAGMA #MAGMAUSDT #THORChain #TradingSignals #Write2Earn
š“ $MAGMA SHORT š ā Trade Plan
ā¢ Entry: $0.426923 ā $0.427777
ā¢ Stop: $0.440171 (-3.0%)
ā¢ Target 1: $0.420940 (+1.5%)
ā¢ Target 2: $0.405982 (+5.0%)
ā¢ R/R 1:1.7 | Confidence 64%
The market structure broke lower (CHoCH) while volume surged on the sell side (CVD), confirming the bias. A fair value gap lines up with an order block, and the recent liquidity sweep hit that POI, stacking OB and FVG overlap for confluence.
A 3.0% stop is relatively tight on this timeframe, so 5ā6x leverage keeps exposure appropriate.
Scale out half the position at the first profit target for a 1.7R payoff.
DYOR ā this isn't financial advice, size your risk accordingly š
$MAGMA #MAGMAUSDT #THORChain #TradingSignals #Write2Earn