$GMX/USDT 12h (#Bybit) Rising wedge breakdown and retest

GMX (f.k.a. Gambit) lost 100EMA support and got rejected after pulling back to it, bearish continuation would make sense.

⚡️⚡️ #GMX/USDT ⚡️⚡️
Exchanges: Binance Futures, ByBit USDT
Signal Type: Regular (Short)
Leverage: Isolated (4.2X)
Amount: 5.0%

Current Price:
72.890

Entry Zone:
74.345 - 77.445

Take-Profit Targets:
1) 67.335
2) 60.890
3) 54.450

Stop Targets:
1) 83.055

Published By: @TradingOn

GMX #GMXUSDT #Gambit #Derivatives #DEx

gmx.io/

Comment:

Risk/Reward= 1:1.2 | 1:2.1 | 1:3.0
Expected Profit= +47.4% | +83.0% | +118.7%
Possible Loss= -39.6%
Estimated Gaintime= 3-4 weeks

Trade active:

Entered entry zone

Trade closed: target reached:

🎯 TP1 reached with +1.2R

Gambit got rejected on supply zone as planned and went down printing a Lower Low (LL).
Remaining targets are still valid, SL adjusted above entry zone to secure the trade!

Trade closed: target reached:

🎯TP3 reached with +118.7% (4.2x) and +3R

GMX made it to final target nicely, trade is fully closed, waiting for more reversal signs now.