$EGLD/USDT 4h (Binance Futures) Bearish pennant break and retest
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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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.