$ATOM/USDT 3h (Binance Futures) Rising wedge breakdown & retest
Cosmos broke bearish locally and is likely to make new lows revisiting broken descending TL.
Current Price= 12.607
Sell Entry = 12.560 - 12.990
Take Profit= 11.668 | 10.406 | 9.593
Stop Loss= 13.785
Risk/Reward= 1:1.1 | 1:2.35 | 1:3.15
Expected Profit= +17.34% | +37.08% | +49.82%
Possible Loss= -15.82%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 10 days
Current Price= 12.607
Sell Entry = 12.560 - 12.990
Take Profit= 11.668 | 10.406 | 9.593
Stop Loss= 13.785
Risk/Reward= 1:1.1 | 1:2.35 | 1:3.15
Expected Profit= +17.34% | +37.08% | +49.82%
Possible Loss= -15.82%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 10 days
Trade active
All entries filledCosmos is retesting the broken wedge, let's see if gets rejected here.
Note
No rejection so farCosmos entered back the wedge but still facing supply zone so we updated SL slightly above 14$.
Trade closed: stop reached
SL hit with -19.36% (2x) and -1.22RCosmos did not care about the wedge and kept pushing higher, maybe next time.
Trade closed: target reached
TP2 would have been reached with up to +44.18% (2x)Too sad we got Stopped hunted on Cosmos, seems like the rising wedge played out with some delay.
If you were still in manually or if you dared to re-enter, then we recommend you to take profit here!
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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.