$BNB/USDT 3h (Binance Futures) Rising wedge facing resistance
Binance Coin broke bullish but is forming a bearish pattern on lower TF.
I believe a pull-back is likely, maybe even down to a retest of 200MA, let's give it a try!
Current Price= 614.435
Sell Entry= 614.670 - 624.430
Take Profit= 566.490 | 531.855 | 508.681
Stop Loss= 659.620
Risk/Reward= 1:1.35 | 1:2.22 | 1:2.8
Expected Profit= +17.24% | +28.40% | +35.86%
Possible Loss= -12.82%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 2 weeks
I believe a pull-back is likely, maybe even down to a retest of 200MA, let's give it a try!
Current Price= 614.435
Sell Entry= 614.670 - 624.430
Take Profit= 566.490 | 531.855 | 508.681
Stop Loss= 659.620
Risk/Reward= 1:1.35 | 1:2.22 | 1:2.8
Expected Profit= +17.24% | +28.40% | +35.86%
Possible Loss= -12.82%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 2 weeks
Trade active
First entry filledBinance got rejected perfectly so far, let's see if it breaks down the TL now or bounce again...
Trade closed: target reached
TP1 reached with +12.66% (2x) and +0.99RLet's adjust the first target for Binance Coin to secure the trade here.
Trade closed manually
Was closed at 2nd entry with -3.12% (2x) after TP1Seems like Binance Coin was too strong to retrace down further, that is why I adjusted the 1st target the other day.
PC bot closed remaining position at 2nd entry (624.43$) as it does it automatically, but I am still hedging manually here with higher SL.
I am expecting a deeper dip in crypto market so I will keep an eye on it for a possible pull-back entry in order to long, maybe on 200MA retest!
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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.