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$MAGMA (1h) - Resistance Rejection Short
Bias: Short
Entry (Zone): 0.424 - 0.438
Targets:
TP1: 0.405
TP2: 0.392
TP3: 0.372
Stop Loss: 0.452
Why this Setup:
I see price stalling after a strong impulsive move into resistance, and the recent candles are showing lower momentum and repeated failure to extend higher. I want to fade the push if it rejects this zone, looking for a move back toward the prior support areas.