$GMX BEARISH BREAKDOWN 🔻 | STRONG DOWNTREND CONTINUES

📉 Current Price: $11.25 (-20.61%)

📅 Date: July 9, 2025 | ⏰ Timeframe: 4H / 1D

🔍 KEY LEVELS TO WATCH

📌 Resistance:

🔺 $13.80 – Immediate resistance zone

🔺 $14.57 – 24H high, strong rejection area

📌 Support:

🔻 $11.25 – Current price (recently broken support)

🔻 $10.23 – 24H low, crucial support

🔻 $10.00 – Psychological round number

🎯 TRADE SETUP – SHORT IDEA

🔽 Short Entry: $11.20 – $11.50

🎯 Take Profits:

TP1: $10.60

TP2: $10.00

TP3: $9.20 (if sell-off deepens)

🛡️ Stop Loss: $12.20 (above resistance)

📊 TECHNICAL INDICATORS

📉 MACD: Bearish crossover – momentum building

📉 EMA/MA: Price below 20/50 EMA – confirms trend

📉 Volume: Increasing sell-side pressure

📉 Bollinger Bands: Price riding lower band – high bearish volatility

⚠️ RISK MANAGEMENT

🔒 Use max 1-2% risk per trade

📉 Set SL immediately after entry

📊 Use trailing SL if high volatility continues

🚫 NO OVERLEVERAGING – TRADE SMART, STAY SAFE! 💼

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