BCHBTC 1D long setup after confirmed support
Updated
TA explained
BCH found support at the bottom and already made a first move upwards. Now its heating up for the next impulse to the upside. First target aligns with -0.618 extended fib level and with previous resistance area. Stop loss is below the bottom of the previous impulse so price has some fib levels as support that need to be broken before getting stopped out.
This setup can be traded with leverage in margin, trade up to 5x max for this setup.
Trade setup
Best entries: 0.026095 - 0.026475
TP1: 0.027999
TP2: 0.030347
TP3: 0.032477
SL: 0.024832
RR: 3.8
Max leverage: 5x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
BCH found support at the bottom and already made a first move upwards. Now its heating up for the next impulse to the upside. First target aligns with -0.618 extended fib level and with previous resistance area. Stop loss is below the bottom of the previous impulse so price has some fib levels as support that need to be broken before getting stopped out.
This setup can be traded with leverage in margin, trade up to 5x max for this setup.
Trade setup
Best entries: 0.026095 - 0.026475
TP1: 0.027999
TP2: 0.030347
TP3: 0.032477
SL: 0.024832
RR: 3.8
Max leverage: 5x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
Trade closed: stop reached
BCH stop was reached after a powerful drop in the entire market. SL was hit with 6% loss (max 30% with 5X lev)
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