🔴 $MAGMA | SHORT SETUP — Momentum Gone! 🐻
The recent rebound has hit a brick wall. We are seeing strong seller defense in the resistance zone, and the upward momentum is fading fast. This looks like a perfect rejection play for a move back to the lows.
Technical Outlook:
Resistance Hit: Rejection from the "Seller Defense" zone.
Momentum: RSI shows weakening strength (bearish divergence).
Bias: Strongly bearish as long as we stay below the SL level.
📉 THE TRADE PLAN:
📍 Entry: 0.2163 – 0.2170
🛡 Stop Loss: 0.2350
🎯 Take Profit Targets:
1️⃣ 0.2103 (Locking in first gains)
2️⃣ 0.1950 (Mid-term target)
3️⃣ 0.1546 (Main support target)
InsideFantom Note: Don't fight the trend. If the resistance holds, the drop will be fast. Manage your risk and stick to the targets! 💸📉
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#TradingSetup $MAGMA