【$MAGMA Signal】Pullback to go long, 1H level charging

$MAGMA 1H level is consolidating sideways around 0.195, with buy order depth 14% higher than sell orders, showing a clear intent to support funds. The 4H timeframe Bollinger Bands middle band at 0.1646 has turned into strong support. The MACD histogram is still expanding, and the medium-term trend is still intact. Although the 1-hour MACD fast and slow lines are sticking together, the price has not deeply pulled back, which is a strong consolidation.

Go long directly around the current price of 0.196, or place an order at 0.19509 to set up.

🛑Stop loss must be placed below 0.17335.

🚀First target: look at 0.19616.

🚀Second target: look at 0.19695.

🛡️Trade management: - Execute strategy: After hitting target 1, cut the position in half. Move the remaining stop loss up to the cost price. If the price drops back into the entry area, exit unconditionally.

Order book depth shows strong support below, with a very thick buy wall of orders around 0.19. After the 4-hour level was pumped from 0.135 to 0.214, the current pullback is less than 50%, which is a healthy adjustment. The 1-hour RSI has fallen from the overbought zone to 62.5, providing room for another push higher. The current risk-reward ratio is suitable; the key is to strictly defend the support below.

Check the live market 👇 $MAGMA
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