MYX is breaking down from a key level, and the momentum is picking up steam. This short setup is looking increasingly compelling by the minute.
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🔴 MYX SHORT 📉
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📍 Entry Range: $0.163336 – $0.163663
🛑 Stop Loss: $0.168405 (-3.0%)
🎯 TP1: $0.161048 (+1.5%)
🏆 TP2: $0.155325 (+5.0%)
⚡ R/R Ratio: 1:1.7
📊 Confidence: 88%
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The market structure break, coupled with volume confirming direction, has me focused on this MYX short. We've also got a fair value gap and order block convergence, which suggests the selling could accelerate. The chart is painting a picture of a significant move unfolding.
A 3.0% stop loss feels about right for this trade, and I'd recommend leveraging around 2-3x to maximize potential gains while keeping risk in check.
Once we reach the first target, consider taking some profit off the table to lock in gains and free up capital for the next opportunity.
Not financial advice — always manage your own risk 🙏
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