NEO/USDT 12h (Binance Futures) Big ascending channel breakdown
Neo is looking for further retracement, I expect it to continue falling inside that smaller channel.
Current Price= 18.818
Sell Entry= 18.971 - 19.791
Take Profit= 17.477 | 15.481 | 13.716
Stop Loss= 20.910
Risk/Reward= 1:1.25 | 1:2.55 | 1:3.71
Expected Profit= +19.64% | +40.24% | 58.46%
Possible Loss= -15.78%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 2x
Estimated Gain-time= 720h
Current Price= 18.818
Sell Entry= 18.971 - 19.791
Take Profit= 17.477 | 15.481 | 13.716
Stop Loss= 20.910
Risk/Reward= 1:1.25 | 1:2.55 | 1:3.71
Expected Profit= +19.64% | +40.24% | 58.46%
Possible Loss= -15.78%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 2x
Estimated Gain-time= 720h
Trade active
All entries filled.It is back inside the big channel and trying to break out the small one.
To be honest, this doesn't look that good but since it's facing resistance zone and we are using low leverage, I'll stick to it!
A move down from Bitcoin would help but we'd rather switch to a long on a retest if breaks up.
Note
Got rejected on the resistance so farYou may reduce your position in small loss here if you averaged your entry but entered too big.
Trade closed: target reached
TP1 with +9.60% from average entryI moved first target in profit to secure the trade!
Trade closed: target reached
TP2 with +20% profit from average entry using 2x onlyI just moved it since original first target would have been reached now
Trade closed: target reached
TP3 with +28% (2x) from average entryI moved last target to fully close that trade.
We could see more downtrend but I prefer to take profit now!
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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.