BNBUSDT 4H long setup after confirmation of support area
Updated
TA explained
BNB broke out of the falling wedge after confirming the strong support zone between 15.8 and 15.65. Now moving upwards to retest previous resistance zones and expected to retest broken channel.
Also BNBBTC is looking very bullish. Im waiting for a breakout of the falling wedge there to create a setup for a long trade for that one as well.
Trade setup
Best entries: 16.375 - 16.490
TP1: 16.736
TP2: 16.939
TP3: 17.323
SL: 16.134
RR: 3.16
Max leverage: 8x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
BNB broke out of the falling wedge after confirming the strong support zone between 15.8 and 15.65. Now moving upwards to retest previous resistance zones and expected to retest broken channel.
Also BNBBTC is looking very bullish. Im waiting for a breakout of the falling wedge there to create a setup for a long trade for that one as well.
Trade setup
Best entries: 16.375 - 16.490
TP1: 16.736
TP2: 16.939
TP3: 17.323
SL: 16.134
RR: 3.16
Max leverage: 8x
—————
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
There was a very good attempt to reach TP1 but at that moment BTC decided to turn around strong and BNB collapsed, hit SL. Too bad. Especially since BNBBTC is looking so strong. It would have been interesting to have this trade still running...
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.