NEOUSDT 12H short setup after broken support
Updated
TA explained
NEO broke below the upward trendline a couple of days ago. In the previous days it broke down former support and retested it as resistance. Stop loss is above resistance area and 0.786 fib level. Targets align with extended fib level of last retracement and S/R levels of the past.
Trade setup
Best entries: 10.437 - 10.270
TP1: 9.596
TP2: 9.127
TP3: 8.728
SL: 10.926
RR: 2.86
Max leverage: 4x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
NEO broke below the upward trendline a couple of days ago. In the previous days it broke down former support and retested it as resistance. Stop loss is above resistance area and 0.786 fib level. Targets align with extended fib level of last retracement and S/R levels of the past.
Trade setup
Best entries: 10.437 - 10.270
TP1: 9.596
TP2: 9.127
TP3: 8.728
SL: 10.926
RR: 2.86
Max leverage: 4x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
Trade closed: stop reached
Unfortunately the setup hit stop loss. Currently it still looks like the targets are realistic but position was closed with a loss sadly.
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