YFI/USDT 2h (Binance Fut.) Descending channel breakout & retest
Yearn.Finance seems to be preparing for bullish continuation, next big move should be soon!
Parallel channel broke out and is being retesting, also 200MA is acting as support.
Current Price= 23214.3
Buy Entry= 23351.2 - 21851.2
Take Profit= 26924.9 | 34272.0 | 40698.1
Stop Loss= 18983.5
Risk/Reward= 1:1.2 | 1:3.23 | 1:5
Expected Profit= +19.13% | +51.64% | +80.07%
Possible Loss= -16.01%
Fib. Retracement= 0.786 | 1.272 | 1.618
Margin Leverage= 1x
Estimated Gain-time= 240h
Parallel channel broke out and is being retesting, also 200MA is acting as support.
Current Price= 23214.3
Buy Entry= 23351.2 - 21851.2
Take Profit= 26924.9 | 34272.0 | 40698.1
Stop Loss= 18983.5
Risk/Reward= 1:1.2 | 1:3.23 | 1:5
Expected Profit= +19.13% | +51.64% | +80.07%
Possible Loss= -16.01%
Fib. Retracement= 0.786 | 1.272 | 1.618
Margin Leverage= 1x
Estimated Gain-time= 240h
Trade closed: target reached
TP1 reached with +19.13% (1x)Nice move up for YearnFinance, bullish breakout is confirmed, hold for higher targets!
Note
TP2 reached with +32.54% (1x) 🎯yearn.finance kept going up, but since targets were far away I decided to adjust them:
TP2 at Current Price (Fib 1) & TP3 at ex-TP2 (Fib 1.272).
Very nice profit without leverage again, enjoy and hold remaining position!
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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.