🚀
$GMX /USDT Price Action Breakdown and Best Trading Strategy 🔐 👇
Timeframes Observed: 1H & 4H Charts
Chart Observations & Technical Overview:📊
👉 On the 1H chart, GMX faced a healthy pullback after a strong bullish impulse that pushed price above $16.20. Price is now consolidating between $15.90 and $16.20, forming a potential bull flag or consolidation base.
The moving averages (20/50/100/200) on the 1H are now aligned for short-term bullish continuation, with the 20 EMA ($15.98) acting as a local support.
RSI (1H) is showing a mild bearish divergence (lower highs on RSI vs. price) but remains above the neutral 50-level (currently around 57.94), hinting at slight momentum cooling.
👉 On the 4H chart,
$GMX recently broke above the 100 EMA and retested it. Price structure still supports higher lows, suggesting that the uptrend is holding for now.
The 4H RSI is just above 60, showing bullish strength, though not yet overbought.
Updated Trading Strategy (Neutral-Biased Bullish):💥
Entry Zone: $15.85–$15.95 (on minor pullback toward 20 EMA)✅
Stop-Loss: Below $15.50 support region (below 200 EMA 1H)☣️
Targets:🎯
TP1: $16.30 (recent wick high)
TP2: $16.75 (next resistance from previous price structure)
TP3: $17.20 (mid-level Fib zone from previous breakdown)
Alternative Bearish Rejection Plan:🤽
If price fails to hold $15.90 and closes below $15.50, look for a short setup targeting $15.10–$14.80
Risk Note: Ideal to wait for a 1H candle close confirmation above $16.10 or successful bounce off $15.90 before initiating.
Key Takeaways:🧑🏫
$GMX is in a phase of micro-consolidation with potential continuation.
Bullish structure remains intact as long as $15.50 is held.
4H RSI still supports healthy upside.
🔊"A disciplined trader rides the trend, not their emotions."
⚠️ This is not financial advice. Always do your own research before making trading decisions.
#gmx #BinanceAlphaAlert #Binance #TradingSignals #MarketPullback