GMXUSD Elliott wave countBelow 48.9254 we are looking to the downside to complete an ending diagonal wave (c) from a flat correction wave ((2)).
GMXWAVAX_0C91A0.USD trade ideas
GMXNot financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor. Not financial advice, dyor.
Retest coming for GMX0.382 serves as a prime support level for a potential pullback. Stop loss: 45.
Closed above the 0.5 so my expectation is a further re-test as the btc halvening comes closer.
Re-testing the top 0.618 range. Mac D seems primed for another go.
Entry between 50 - 53.
Targets:
0.786
1
GMX Could Be Another Big Mover Soon.After having reached its Cup and Handle target, GMX has now formed a beautiful bull flag and looks like it will move to at least $59-60 dollars. If it really gets a head full of steam, I can easily see it tagging $73.
Cautions? We are on the underside of that RSI TL. Looks like we'll hit our heads on that about the same time as we hit $60. Might be a good time to sell at this level. Or at least take some profits, move those stops up, and let the rest ride.
Positives? All those SMA below should help support. If it was me, I'd set my SL just below the red 200 day SMA.
Best,
Stewdamus
GMXUSD 1day MA50 based trading strategy.GMXUSD almost hit the 1day MA50 two days ago and has so far turned sideways.
This inability to cross over this Resistance level that has been holding since early August, is technically a bearish signal.
As long as it holds, sell and target 30.150 (Support A).
If broken though, we can have a June 30th type break out to the 1day MA100. Consequently be ready to close the sell and open a buy targeting 42.000 (top of the Channel Down and possible contact with the 1day MA100).
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GMX - Daily Key LevelsDaily Key levels for you to watch for support / resistance. Golden Pockets, Volume Profiles. Boring TA that typically makes real money.
GMXUSDTGMXUSDT is trading in bearish channel and smoothly following technical pattern of break and retest of structure. currently the instrument is retesting the broken support level and seems like it is getting ready for another sell off.
GMXUSD - Horizontal SupportGMX has formed this nice up channel
This is also accompanied by a horizontal support
I expect a rise once both channel and line are tested.
GMXUSD: Outside its Triangle, targeting 100.GMXUSD is attempting to close today over its short term Triangle pattern, which is just a neutral formation inside the long term bullish Channel Up pattern. The 1D technicals are bullish (RSI = 62.080, MACD = 0.000, ADX = 29.989) and if the 1D RSI crosses over the LH trendline, it will be the buy trigger we need to target firstly the R1 (90.00) and secondly the top of the Channel Up (TP = 100.00).
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The GMX (GMX) DEX Token: 🔍 Enigmatic and 🤔 ConvolutedDiscovering the GMX (GMX)DEX Token: A 🌐 Decentralized Exchange with Mind-Blowing Features
The GMX (GMX) DEX Token is a 🌐 decentralized exchange for both spot and margin trading, boasting a credit leverage of up to a staggering x50. It was launched in September 2021, and it supports the seamless functioning of two networks, namely Arbitrum and Avalanche.
The 🤫 enigmatic and mysterious GMX team remains entirely anonymous, and there are no confirmed external investors. The exchange is governed and managed by the community of GMX token holders. Interestingly, since its inception in September 2021, the usage of the GMX exchange has been steadily growing. Even amidst the bearish market in 2022, the Total Value Locked (TVL) on the smart contract project has increased by more than a staggering 300%.
GMX (GMX) DEX Token's Mind-Boggling Financial Performance
As of March 9th, 2023, the TVL on GMX stands at a staggering 💰 $607.5 million, ($512.04 million in the Arbitrum network and $95.45 million in the Avalanche network). At present, GMX stands as the best-decentralized application on the Arbitrum network, primarily due to its exemplary TVL performance.
Since its establishment, the total trade volume on the GMX exchange has been steadily approaching the 💲 $90 billion mark, and the overall platform fee has already exceeded a staggering 💰 $130 million. The number of unique users in 2023 shows an upward trend, and a more detailed statistical breakdown on GMX can be viewed through the link provided.
GMX (GMX) DEX Token's Robust Market Prices and Secure Smart Contracts
The market prices on GMX are primarily anchored on Chainlink oracles, which gather information from leading exchanges, thereby providing protection for positions against liquidation caused by erratic ticks from a single automated market maker.
The smart contracts on the GMX exchange have undergone an audit by ABDK Consulting. The GMX token is used to manage the ecosystem of the decentralized GMX exchange. Notably, all platform fees are distributed between the GMX token holders and liquidity providers, with 30% going to GMX stakers and 70% going to liquidity providers.
The maximum token supply is planned for 13.25 million GMX, which may be increased in the event that more products are launched and users need to be incentivized to provide liquidity. Any changes to the project's tokenomics will be subject to the relevant voting process.
Currently, there are 8.5 million GMX tokens in circulation. For more detailed information on the project's tokenomics, please refer to the exchange's blog.
GMX (GMX) DEX Token: A Viable Alternative to Centralized Exchanges
There is no information in the exchange's blog on any significant events to expect in the near future. The GMX exchange represents a viable alternative to centralized exchanges, providing both traders and liquidity providers with opportunities to trade and earn.
According to Zion Market Research's 2021 report, the DeFi market was valued at 💰 $11.96 billion. It is expected that this figure will exceed 💲 $232.2 billion by 2030. Betting on GMX represents a bet on the continued growth and development of the DeFi market, especially given that it is the leading protocol by TVL on the Arbitrum network, which is yet to reach its peak in popularity.
The fully anonymous team is undoubtedly a risk. However, this also isolates GMX from unwarranted lawsuits. It is also worth considering that the value of the GMX token has risen significantly over the past few months. Sellers may apply significant pressure to lock in profits.
🤔 CONSIDERING THE ABOVE, the picture looks as follows: purchases from 💲$50.
GMXUSD Buy signal on the next Low.GMXUSD is inside a Channel Up with very straightforward increase and decline ranges. So far both increases have been 137% on average.
The price is now on the 1day MA50 but it is the next drop that will approach the bottom of the Channel Up and create that buy opportunity.
Aim for a new +137% increase at 130.00.
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GMX Uptrend Channel**I bought GMX**
GMX is inside a bull channel, currently at the bottom of the channel, which gives us a short stop entry opportunity.
Entry: 51.53
Starting target: 63.30 (22.8%)
Stop: 48.68 (5.52%)
Volume: 2%
