$MANA/USDT 4h (Binance Futures) Ascending channel breakdown
Updated
Decentraland has broken bearish locally and is likely to retrace down after 50MA retest.
Current Price= 0.6676
Sell Entry = 0.7171 - 0.6919
Take Profit= 0.6313 | 0.5832 | 0.5273
Stop Loss= 0.7657
Risk/Reward= 1:1.2 | 1:1.98 | 1:2.9
Expected Profit= +20.78% | +34.44% | +50.30%
Possible Loss= -17.38%
Fib. Retracement= 0.618 | 0.786 | 1
Margin Leverage= 2x
Estimated Gain-time= 10 days
Current Price= 0.6676
Sell Entry = 0.7171 - 0.6919
Take Profit= 0.6313 | 0.5832 | 0.5273
Stop Loss= 0.7657
Risk/Reward= 1:1.2 | 1:1.98 | 1:2.9
Expected Profit= +20.78% | +34.44% | +50.30%
Possible Loss= -17.38%
Fib. Retracement= 0.618 | 0.786 | 1
Margin Leverage= 2x
Estimated Gain-time= 10 days
Trade closed: target reached
TP1 reached with +20.78% (2x) and +1.2RDecentraland tried to break-in the channel but got rejected a bit higher than expected.
Fortunately, Stop Loss was well placed and it was just updated to 2nd entry (0.7170$) now.
Also, we can observe a break-out and retest on the RSI that would indicate a possible bounce soon.
And drawing TLs using bodies shows us a symmetrical triangle on potential support here!
Trade closed: target reached
TP2 reached with +34.44% (2x) and +1.98RDecentraland bounced twice on TL support then finally broke it down!
Last target is in play, SL has been automatically moved to 1st entry (0.6920$).
Trade closed: target reached
TP3 reached with +50.30% (2x) and +2.9RDecentraland went for all targets and even more, great to make such profit during market correction!
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