$AXS/USDT 4h (KuCoin) Descending trendline break & retest
Updated
Axie Infinity Shard looks good for bullish continuation inside the parallel channel after that reaction on 100EMA.
Current Price= 78.030
Buy Entry = 77.835 - 74.549
Take Profit= 85.936 | 94.426 | 104.592
Stop Loss= 68.948
Risk/Reward= 1:1.35 | 1:2.52 | 1:3.92
Expected Profit= +25.58% | +47.86% | +74.54%
Possible Loss= -19.02%
Fib. Retracement= 0.618 | 1 | 1.414
Margin Leverage= 2x
Estimated Gain-time= 3 weeks
Current Price= 78.030
Buy Entry = 77.835 - 74.549
Take Profit= 85.936 | 94.426 | 104.592
Stop Loss= 68.948
Risk/Reward= 1:1.35 | 1:2.52 | 1:3.92
Expected Profit= +25.58% | +47.86% | +74.54%
Possible Loss= -19.02%
Fib. Retracement= 0.618 | 1 | 1.414
Margin Leverage= 2x
Estimated Gain-time= 3 weeks
Trade active
First entry filledAxie Infinity Shard already bounced back +12.20% (2x) since called, that's a good start.
Trade active
Second entry filledAxie Infinity Shard dipped more revisiting 100EMA, still respecting the plan so far, waiting for bulls to step back in!
Trade closed: stop reached
SL hit with -19.02% (2x) and -1RAxie Infinity Shard lost support and dived a lot, at least we took the loss early!
If you are still in, now would be the time to close until a new bullish formation is created.
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