sell
GMXUSDT Short Position Targeting Range Boundaries
The analysis suggests a short position on GMXUSDT with entry at $15.622 and a stop loss at $15.831. The price has reached the supply zone between $15.60 and $15.80, an area known for aggressive selling in the past. A false breakout of the upward channel has been observed, accompanied by a series of ChOCH patterns indicating buyer weakness. Resistance is formed by upper FVG and OB zones, and current structures point towards a high likelihood of decline.
The compression pattern and decreased volumes support the scenario of a retracement towards the range's lower elements. The targeted profit levels are $15.300 (nearby FVG zone), $15.074 (30-minute OB and channel boundary), and $14.678 (a key support and liquidity zone). The overall technical setup favors a downward move, making this a potentially advantageous shorting opportunity.
Source available for registered users Sign Up Free
AI Analysis
The current market structure for GMXUSDT indicates a potential reversal pattern, as evidenced by the price reaching historically significant supply zones. The engagement of aggressive selling in these...
AI Recommendation
Based on the analysis, taking a short position in GMXUSDT appears justified, especially with well-defined entry and stop-loss levels to manage risk. It’s advisable to monitor price action closely near...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
You might also be interested in:
trade
buy on weakness