$MAGMA trades in a strong bearish breakdown below its declining 60-period MA near $0.24269. Weak buying volume on relief attempts indicates heavy distribution, with sellers maintaining dominant control. Trapped long positions remain vulnerable to further liquidations toward the $0.23015 local low, making shallow retracements ideal for short execution.
​🎯 Trade Setup
​Direction:
SHORT
​Entry Zone
$0.23700 – $0.24100
​Take Profit 1
$0.23015
​Take Profit 2
$0.22200
​Take Profit 3
$0.21000
​Stop Loss
$0.24550
​Risk : Reward
1.80
​Trade Type
Scalp
​#MAGMASHORT