ADA/USDT 2h (Binance Futures) Descending channel near breakout
#Cardano is on small ascending channel support and if bounce here it would probably break out the bigger descending channel.
Current Price= 0.09293
Buy Entry= 0.09302 - 0.09142
Take Profit= 0.9670 | 0.10256 | 0.10694
Stop Loss= 0.08774
Risk/Reward= 1:1 | 1:2.31 | 1:3.29
Expected Profit= +9.72% | +22.42% | +31.92%
Possible Loss= -9.72%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 120h
Current Price= 0.09293
Buy Entry= 0.09302 - 0.09142
Take Profit= 0.9670 | 0.10256 | 0.10694
Stop Loss= 0.08774
Risk/Reward= 1:1 | 1:2.31 | 1:3.29
Expected Profit= +9.72% | +22.42% | +31.92%
Possible Loss= -9.72%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 120h
Trade closed: target reached
TP1 with +9.72% (2x)Note
TP2 reached with +22.42% (2x)#Cardano did break out of both parallel channel as expected, that was a very nice dip catch!
Last target was missed by 0.00004$, kind of frustrating but I believe it will go up there again, if not I may adjust it lower to close that trade before weekend.
Trade closed: target reached
TP3 with +31.92% (2x)And that's a wrap for #Cardano, trade totally closed on last target with that 3.29 R/R 💪🏼
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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.