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GMXUSDT trade ideas

📈GMX: Support and Short Opportunities🔒🔍Today the market is taking a breather, and the analysis focuses on the coin GMX, which has broken the line at $54.01 from our previous analysis, triggering a 23% short position. Currently, it's testing support at $44.24, having faked out once and reacted twice. ✅If you opened a short position at $54.01 and haven't taken profit yet, I suggest closing a small portion to secure some gains. If you've taken profit, wait to see how it reacts at $44.24. If it breaks down, expect lower targets; if it holds, consider closing your position to lock in profits. 📉If you don't have an open position, the next trigger is $44.24, which could accompany the next wave. Currently, volume has decreased compared to before, typical for weekends. ⚡️The RSI indicator lacks a precise trigger, but considering the downward momentum on the 4-hour timeframe, opening a position could be warranted. If the price continues to range for an extended period, assess new market structures before opening positions. 🔑Note that all downward movements are corrective, and any coin could pump at any moment. If you have confirmation, you can consider longing after the breakout of $48.02. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
by itsparham96
📈Weekly Analysis: Bullish Signals for MANA🔥🔍Today is Sunday, marking the end of the week and typically low trading volume. Hence, we'll analyze the weekly timeframe for Mana against USD for potential insights. On this timeframe, Mana has reached a supply zone, evidenced by a bearish engulfing candle. However, the current candle is showing signs of buyer strength. 📈If this candle closes bullish, we can consider a pullback to the level of $0.5517, supported by the 7-period Simple Moving Average (SMA). Additionally, Fibonacci retracement levels indicate that we've reached the 1 extension point, suggesting a consolidation phase. For higher targets, $1.0989 could be considered, overlapping with the 1.414 extension. 📊Volume is decreasing during this correction, signaling a healthy trend. The Relative Strength Index (RSI) previously faked an overbought condition and could potentially surge upwards again. 🛒Buying on the confirmation of the current candle closing bullish seems opportune. 🧠💼Just remember, jumping into trades too quickly before the main trigger can be risky. Always manage your money wisely and be aware of the risks involved.
Short
by itsparham96
GMXUSDT Buy opportunityThe GMXUSDT trading pair is displaying initial stages of an Elliott Wave formation, characterized by leading diagonal structures, with the completion of the Wave 1 to Wave 2 sequence. The price is currently forming a robust bullish continuation pattern, identified as an Inverse Head and Shoulders (IH&S), with the pattern's price target indicated on the chart. Additionally, the projection for the culmination of the current Wave 3 is also delineated. The designated accumulation zone on the chart represents an opportune area for initiating long positions. As always, it is prudent to engage in trading with due diligence, implementing a suitable stop-loss strategy to manage risk effectively. We welcome your engagement with our analysis in the form of comments and likes.
Long
by weslad
4
GMX/USDT getting ready for potential shift? 👀 🚀 GMX Analysis💎Paradisers, prepare for an engaging trading opportunity as #GMXUSDT shows signs of an upcoming pivotal move. The market dynamics indicate a strong push from a crucial demand level at $58.88, with the price aiming to breach a significant supply zone. Our strategy hinges on confirming this transition from supply to demand before making our move. 💎Targets Post-Breakout:Upon successfully navigating past the current supply level, our sights are set on the next target at $64.55. Surpassing this will open the door to approach a higher supply threshold at $71.89. It's essential to tread carefully, as the market may present psychological traps during these transitions. A solid strategy backed by clear confirmation is crucial for moving forward. 💎Preparing for Volatility:The unpredictable nature of the market necessitates readiness for diverse outcomes. Should #GMX retreat below the $58.88 support, a bullish resurgence from the $54.10 support level might be our next focal point. A fall below this marker signals a need to recalibrate our approach, potentially considering short positions to align with the prevailing market sentiment. 💎Strategic Market Navigation:Embracing all potential market scenarios is what makes us proficient traders. By keeping a vigilant eye on market movements and maintaining a patient and strategic approach, we can navigate through market uncertainties effectively. Rest assured, the Paradise Team is here to support and guide you through every twist and turn of this thrilling trading venture!
Long
by MyCryptoParadise
GMX/USDT upward trajectory?👀 🚀GMX Today analysis💎 Paradisers, turn your attention to #GMXUSDT as we gear up for a potential bullish shift. It's currently challenging a key resistance, hinting at a possible change in direction. 💎 #GMX is on the brink of breaking through its resistance at $49.89. If it manages to push past this level and keep up the momentum, there's a high chance we'll see it embark on a bullish journey, aiming for higher resistance levels. For now, we're expecting a slight pullback to the demand zone. 💎 There's a possibility that #GMX may not maintain the momentum needed to break out initially. Should this happen, a period of downward consolidation might occur before it tests our defined support level at $45.85 again. A successful retest of this level could pave the way for a substantial upward move.
Long
by MyCryptoParadise_Simon
📈GMX Futures: Potential Long Opportunities🚀🔍In the 4-hour timeframe, GMX exhibits a clear ascending trendline providing consistent support, yet to be breached. It once faked out the trendline, followed by higher lows, demonstrating resilience and breaking the resistance at 59.2 with conviction. 📈Following the break, two significant red candles with substantial volume are observed, serving as potential pullbacks. Should the current candle engulf the previous one, it presents a favorable opportunity to enter a long position in futures. Aim for a risk-to-reward ratio of at least 2, ensuring the use of stop-loss orders to mitigate potential losses. 💎For those waiting on the sidelines, patience until the trigger at 64.35 is advisable before considering entry. ✅The target for long positions, apart from the risk-to-reward ratio of 2, could be set at 71.66, although current price levels may pose a challenge for immediate attainment. 📉In the event of a reversal at 59.2, a more aggressive entry could be considered at 57.52 in lower timeframes. However, exercise caution and promptly secure profits to avoid substantial losses. 🐢For a more conservative approach, waiting for confirmation at 54.01 before considering short positions is prudent. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2.
by itsparham96
GMXUSDT Faces Retest of Weekly Resistance: Breakout or RejectionGMXUSDT is poised for a retest of a critical resistance level on the weekly chart at $59.3517. This resistance zone has been tested seven times on the daily chart, with the last two attempts accompanied by decent buying pressure. Technical Analysis: Resistance: $59.3517 (Weekly) Support: $40.1870 Volume: Increased buying pressure on recent touches of resistance Key Observations: GMXUSDT is approaching a crucial resistance level on the weekly chart. A breakout above this level could signal further upward momentum. The repeated tests on the daily chart, particularly with the recent buying pressure, suggest a potential upcoming breakout. If the price manages to overcome the resistance, the next resistance level on the daily chart is $71.745. Conversely, if the price fails to break above resistance, it could find support at $40.1870. Conclusion: The upcoming price action for GMXUSDT hinges on its ability to overcome the key weekly resistance level. A successful breakout could lead to a surge towards $71.745, while a rejection might trigger a pullback towards the $40.1870 support zone. This information is for educational purposes only and should not be considered financial advice. Please conduct your own research before making any investment decisions.
Long
by behnoudt
Alikze → GMX| Leaving the cornerIt is moving in an ascending channel, which after forming a floor at the bottom of the ascending channel and exiting the corner, it is moving towards the supply area and the $50 range. If it breaks the $50 area, the path will be opened to continue climbing to the next range and the ceiling of the channel. 🟩Sup: 43.80 - 45.30 ⛳️Tp 1:50 - 53 ⛳️ Tp2 : 56.20 ⛳️ Tp3 : 62.5 - 68.80 ----------------- Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️
Long
by alikze
GMX/USDT in a Strong Positions for Bullish Rally? 🚀GMX Analysis💎Paradisers, let's focus on #GMXUSDT, where current market signals hint at a potential bullish turnaround from a vital support region. 💎A review of #GMX's latest trading data reveals a significant 70% retracement from its recent high. However, the steadfastness at the $43.19 support level suggests a window for an upward trajectory. 💎The journey to surpass previous peaks or achieve new milestones has been challenging, fostering a temporary bearish sentiment. Yet, the critical $43.19 threshold for TSX:GMX is on the verge of initiating a notable bullish wave upon further evaluation. 💎With a forward-thinking mindset, we've prepared an alternative plan. If #GMX declines beyond this support, we anticipate a bullish revival from the next support at $34.17. It's vital to acknowledge that slipping below this marker could signal a deeper bearish trend. 💎Keep your trading strategies adaptable and your eyes peeled for market shifts, Paradisers. Rest assured, the ParadiseTeam is closely observing these developments, ready to guide you through the evolving market landscape.
Long
by MyCryptoParadise_Simon
GMX/USDT | 1W 👀1. As time passes, only accumulation ranges change... 2. I expect to see the continuation of the correction now. It's better to buy on the dip and accumulation phases rather than when the coin is already rising. - Not financial advice, trade with caution. ✅ Stay updated on market news and developments that may influence the price of GMX. Positive or negative news can significantly impact the cryptocurrency's value. ✅ Exercise patience and discipline when executing your trading plan. Avoid making impulsive decisions driven by emotions, and adhere to your strategy even during periods of market volatility. ✅ Remember that trading always involves risk, and there are no guarantees of profit. Conduct thorough research, analyze market conditions, and be prepared for #Crypto #Investment #GMX
by Nyskohuz
GMX ANALYSIS (1D)According to the wave count of the GMX chart, we can consider a triangle or diametric scenario for this coin. We now seem to be in wave e of D. Whichever of these scenarios is going on, the red flip range is the range where we are looking for sell/short positions. We marked the targets on the picture. We also specified the invalidation level, closing a daily candle above this level will violate the analysis. For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark