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$MAGMA | 1H | Rejection Short
Bias: Short
Entry Zone: 0.505 to 0.525
Stop Loss: 0.553
Targets:
TP1: 0.478
TP2: 0.455
TP3: 0.425
Invalidation:
Close above 0.525
Why This Setup:
I’m treating the 0.50 to 0.525 area as a major supply zone after the sharp impulse and failed continuation. Price is still trading below the recent spike high, so I want to sell into a bounce and look for a move back toward the prior support shelf.