MAGIC returns to be madeOn the above daily chart price action has corrected 80%. A number of reasons now exist to be long, including:
1) Price action and RSI resistance breakouts.
2) Support and resistance. Look left. See where price action is now testing for support?
3) The bull flag breakout + back test. The flagpole measures a 300% return.
Is it possible for price action to correct further? Sure.
Is it probable? No.
Ww
Type: Trade
Risk: <6%
Timeframe for long: Hours, yes you read that correct.
Return: 300%