$NEAR/USDT 4h (Binance Futures) Descending broadening wedge
Updated
Near Protocol is pulling back and is likely to bounce on 200MA support then probably breaking out of the wedge.
This network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, more information on near.org
Current Price= 7.429
Buy Entry = 7.405 - 6.871
Take Profit= 8.808 | 10.706 | 12.847
Stop Loss= 5.797
Risk/Reward= 1:1.25 | 1:2.66 | 1:4.26
Expected Profit= +23.40% | +49.99% | +79.98%
Possible Loss= -18.79%
Fib. Retracement= 0.786 | 1.414 | 2
Margin Leverage= 1x
Estimated Gain-time= 2 weeks
This network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, more information on near.org
Current Price= 7.429
Buy Entry = 7.405 - 6.871
Take Profit= 8.808 | 10.706 | 12.847
Stop Loss= 5.797
Risk/Reward= 1:1.25 | 1:2.66 | 1:4.26
Expected Profit= +23.40% | +49.99% | +79.98%
Possible Loss= -18.79%
Fib. Retracement= 0.786 | 1.414 | 2
Margin Leverage= 1x
Estimated Gain-time= 2 weeks
Trade active
All entries filledNear Protocol lost 200MA but TL is holding so far, also 100EMA on 12h chart, we still believe it's a good place for a bounce.
Note
TP1 missed by 0.056$ then pulled back to entryNear Protocol faked-out bullish last week but this time it seems for real, we are manually adding to the position here!
Trade closed: target reached
TP1 reached with +23.40% (1x) and +1.25RNear Protocol took its time to regain 200MA support and finally break out of the wedge.
Bulish continuation is likely, SL adjusted to lowest entry anyway (6.871$)
Trade closed: target reached
TP2 reached with +49.99% (1x) and +2.66RNear Protocol is pushing higher according to the plan, great profit so far with up to +64.74%!
Road to last target now, SL updated to first entry (7.405$) so we can't lose anymore.
Trade closed: target reached
TP3 reached with +79.98% (1x) and +4.26R 🎯Near Protocol achieving all targets as well, what a winning streak, trade is closed now.
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