$MAGMA (1h) - Bearish Rejection


Bias: Short
Entry (Zone): 0.4200 - 0.4260
Targets:
TP1: 0.4080
TP2: 0.3960
TP3: 0.3840
Stop Loss: 0.4345
Why this Setup:
I see price grinding back into a short-term supply area after the rebound, but the move still looks corrective and lacks strong acceptance above the local highs. I want to short into resistance and look for a rejection back toward the recent range lows if momentum fades here.
MAGMA-7.30%
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