BCHSV What's Next?: Strong Ascending triangle + Trading Plan

TRADING STRATEGIC .
$BINANCE:BCHSVUSDT

Study Range:
-Chart Time frame: 1H
-Timeframe 4H-1D

TRADE MANAGEMENT:

Trade entry: 105.50~106.50 (Blue Rectangle)
Stop Loss: 104.95.

-Targets:

Moon: 125.30

Risks/Rewards:
-Risk/Reward Ratio: 39.38
-Risk per trade: 0.47%

Trade active

Note

Note

reversal pattern, I did my best to fit them into the pattern. interesting trend projection

Note

SV is preparing for its next big move, if we break to the upside 104.00 and 110.00 are my targets if we break the channel trend-line I will be looking to buy at the next support lvl.

Note

we still doing some sideways consolidation. however cycles are oversold.

Note

follow up of the XABCD pattern, just for learning purpose.

Note

Possible double bottom forming

Note

be aware of the descending triangle and its target, if we break market structure it could get ugly for SV

Note

I will be re-entering tehe trade around 62 to 65 and i will trade that support bounce mean while ill be waiting on the side lines.

Note

BCHSV Has successfully bounce from 64.00 and has broken the top of the channel, i could expect some consolidation and then a small upward correction before continuation of the down trend.

Trade closed: target reached

Note

SV is trading above 1 of the resistances. if SV cant to break purple channel we could potentially go down. Here is the two potential scenarios

Note

SV has surpass resistance now facing a major down trend. I will be watching to see how react to this levels

vfxvictor

Related publications

BCHSV Double Bottom

by vfxvictor

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.