$EGLD/USDT 4h (Binance Futures) Bearish pennant break and retest
Updated
Elrond eGold has recovered nicely but could reverse locally again on 200MA resistance.
Current Price= 82.19
Sell Entry = 83.97 - 88.37
Take Profit= 77.05 | 68.01 | 59.42
Stop Loss= 93.80
Risk/Reward= 1:1.2 | 1:2.38 | 1:3.51
Expected Profit= +21.16% | +42.14% | +62.08%
Possible Loss= -17.70%
Fib. Retracement= 0.236 | 0.5 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 2 weeks
Current Price= 82.19
Sell Entry = 83.97 - 88.37
Take Profit= 77.05 | 68.01 | 59.42
Stop Loss= 93.80
Risk/Reward= 1:1.2 | 1:2.38 | 1:3.51
Expected Profit= +21.16% | +42.14% | +62.08%
Possible Loss= -17.70%
Fib. Retracement= 0.236 | 0.5 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 2 weeks
Trade active
First entry filledElrond eGold is being rejected on 200MA has planned so far!
Trade active
Second entry filledElrond eGold faked-out bullish and finally reversed, road to first target now for 100EMA retest!
Note
TP1 missed by 0.26%, that was closeElrond eGold is showing some bullish sign, but we still think first target is quite reachable, maybe even the second one.
That's why we will start a swing long down there, in the meantime let's keep that scalp short alive (hedging)!
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