$IMX : Breakout After Long Consolidation
Entry Zone: Above 0.55 (confirmation breakout)
Targets:
- TP1: 0.65
- TP2: 0.816
- TP3: 0.90–0.95
Stop-Loss: Below 0.48
Leverage: 5–10x (moderate range; adjust lower if volatility increases)
Details & Rationale
- Consolidation Base: IMX has been trading in a tight range between 0.48–0.55 for weeks. Such long consolidations often precede strong directional moves.
- Breakout Trigger: A sustained close above 0.55 with volume expansion signals a bullish breakout.
- Momentum Indicators:
- RSI is recovering from oversold levels, showing improving buyer strength.
- MACD is close to a bullish crossover, supporting upward momentum.
- Bollinger Bands are tightening, indicating a volatility squeeze.
- Liquidity Magnet: 0.816 is a key liquidity wall and order block, making it a natural mid-term target.
- Risk Management: Stop-loss below 0.48 protects against false breakouts.