ADA/USDT 2h (Binance Futures) Descending triangle near breakout
Updated
Cardano is getting ready for the next big move, I expect it will be upwards as long as 200MA is holding the trend!
The chart is showing Spot pair, but we will trade it with low leverage in Futures market.
Current Price= 0.10302
Buy Entry= 0.10310 - 0.10106
Take Profit= 0.10756 | 0.11299 | 0.11842
Stop Loss= 0.09664
Risk/Reward= 1:1 | 1:2 | 1:3
Expected Profit= +10.66% | +21.28% | +31.92%
Possible Loss= -10.66%
Fib. Retracement= 0.618 | 1 | 1.272
Margin Leverage= 2x
Estimated Gain-time= 240h
The chart is showing Spot pair, but we will trade it with low leverage in Futures market.
Current Price= 0.10302
Buy Entry= 0.10310 - 0.10106
Take Profit= 0.10756 | 0.11299 | 0.11842
Stop Loss= 0.09664
Risk/Reward= 1:1 | 1:2 | 1:3
Expected Profit= +10.66% | +21.28% | +31.92%
Possible Loss= -10.66%
Fib. Retracement= 0.618 | 1 | 1.272
Margin Leverage= 2x
Estimated Gain-time= 240h
Trade active
First entry filled and bouncedTrade closed: target reached
TP1 with +10.66% (2x) then TP2 was missed by 0.00001$I adjusted it a bit lower so the trade is more than secure now with +19% (2x) and holding remaining position to last target 💪🏼
Cardano is forming a bigger triangle, ascending this time (purple one) and we are near resistance now.
I guess a retracement could take place soon, revisiting the entry zone or maybe even triangle support (~0.09400$)...
Note
Went down to entry as I suggested the other day.PC bot closed the trade for Cardano there, but it would have been a nice re-entry since it went for TP1 again.
If you are still in manually last target is valid, don't forget your Stop Loss!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.