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MAGICUSDT trade ideas

SHORT #MAGICUSDT Target: $1.0777SHORT #MAGICUSDT from $1.268 stop loss $1.3012 4h TF. The instrument is in a downward correction to the momentum. The second test of the seller's level is at 1.2800. Since the maximum of 1.4331 has not been updated, according to the law of withdrawal of reverse liquidity, the price will tend to go down. To the shopping area of interest. Along the way, we will finalize the local trend line in order to confuse everyone. We will break through and close all the targets. They are shown on the graph as abnormal imbalances. The final goal may come at 1.0777
Short
by CScalp_EN
🚀 MAGICUSDT.P: Bullish Trend (Bullish Harmonic Pattern)Greetings, fellow traders! 🌐 I've identified a promising opportunity on MAGICUSDT.P that demands your attention. The 1-hour chart is revealing a perfect bullish harmonic pattern, accompanied by a bullish divergence. This powerful combination signals a potential uptrend in the making. 🔍 Analysis Overview: - Harmonic Pattern: A meticulous formation of a bullish harmonic pattern indicates a high-probability reversal or continuation. - Divergence: The presence of bullish divergence adds weight to the setup, suggesting underlying strength in the upward momentum. 📉 Entry Point: Consider going long upon confirmation at the specified point to ride the anticipated bullish trend. 💡 Trading Strategy: 1. Confirmation: Wait for a clear confirmation of the bullish move at the identified point. 2. Risk Management: Set stop-loss orders to protect your investment and adhere to a risk-reward ratio that aligns with your trading plan. 3. Target Profits: Establish realistic profit targets based on key resistance levels and market conditions. 🚨 Risk Warning: Trading involves risk, and it's essential to conduct your thorough analysis and risk assessment. 👉 Disclaimer: This idea is for educational purposes only and not financial advice. Always do your research and consult with a financial professional before making trading decisions. 👁‍🗨 Conclusion: Keep a close eye on MAGICUSDT.P as it navigates this potentially bullish scenario. Feel free to share your thoughts and analysis in the comments, fostering a collaborative learning environment. Happy trading! 🌟
Long
by mudusir
2
MAGIC/USDT Break out of resistance level. Bullish Momentum ??💎MAGIC has undeniably garnered significant attention in the market. Currently, it is breaking out of a local resistance level, and there is the potential for a retesting phase, primarily at the support level that was previously a resistance at 1.315. 💎 If the retest proves valid, the price is likely to bounce from this support and continue its upward trajectory. The next significant challenges lie in the bearish OB and supply area. Breaking out of this area would confirm a bullish trend in the mid-term, and the price could probability reach our target zone. 💎 The overall chart pattern appears to be forming a rounding bottom, which is typically considered a bullish pattern. However, if MAGIC fails to bounce when retesting the support, there is a potential for a downward movement, leading to a retest of the bullish trendline. 💎 This level is crucial, and a bounce is required to maintain the bullish stance. Breaking below the bullish trendline would signify a significant trend change, with the next potential support being in the demand area. 💎 The demand area represents the last level of bullish support. A bounce at this level is essential to sustain the bullish momentum. Failure to do so could result in a continuation of the downward movement, eventually reaching the bottom support area.
by MyCryptoParadise
MAGICUSDT - BULLISH OUTLOOKMAGICUSDT is currently exhibiting a pattern of lower lows and lower highs, indicating a downtrend. However, there is a notable bullish divergence on the 1-hour (1H) time frame, suggesting a potential reversal in the prevailing trend. Here's a concise technical analysis with a suggested trading strategy: Entry: Consider initiating a long position by placing a buy-stop order at 1.1150. Stop Loss (SL): Implement a risk management stop loss at 1.00 to mitigate potential losses. Take Profit (TP): Set take-profit levels to achieve a 1:1 and 1:2 risk-reward ratio: TP1 = 1.23 TP2 = 1.3450 This trading strategy aims to capitalize on the anticipated bullish reversal signaled by the observed divergence. As with any trading approach, it's essential to monitor the market closely for changing conditions and adjust the strategy accordingly.
Long
by sunnytrader07
MAGIC ANALYZE 2H BUY Dear Traders, I hope you're doing well. Happy New Year! This is my first post in the new year, and I hope it proves useful to you. In Magic Currency, on the two-hour time frame, the price has broken the ascending channel and consolidated its support level. If the price can close above the black line with good strength, it can first reach the yellow level and then move up to the blue level. Based on your analytical style, you can find your entry point. Thank you for your kindness and for following me. Best regards,
Long
by jawad369
MAGIC/USDT LAST SCENARIOI would like to share the latest status of our chart and explain why I didn't enter at the previous levels of $0.76-$0.77. Since my target for this coin is over 30%, my priority is to enter positions with minimal risk to safely carry the position. What caught my attention, thanks to my alerts, was the consistent approach to our initial levels without breaking through. Currently, it has established that region as a support level. A break below that region would mean taking more than a 10% risk for me. Considering the target we have in mind, this isn't ideal. Those who wish can still enter from these levels gradually. However, for me, entering from the green area starting at $0.65, as you can see in the chart, seems much safer. With my alerts active, placing orders when it reaches that point and waiting for the targets to be achieved is the most prudent strategy. I hope we achieve maximum gains with minimum risk.
Long
by Enes_Ibraimi