BNB/USDT 12H (Binance Fut.) Ascending channel break-out
Updated
Binance Coin broke the channel support and start looking bearish after the token sale on Launchpad and quarterly Burn.
So it could be a good Short opportunity, we are operating it in Binance Futures Tournament, set-up:
Sell Entry= 14.786 - 15.186
Take Profit= 13.741 | 12.623 | 10.335
Stop Loss= 16.232
Risk/Reward= 1:1 | 1:1.9 | 1:3.73
Expected Profit= 24.93% | 47.31% | 93.12%
Possible Loss= -24.93%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 3x
So it could be a good Short opportunity, we are operating it in Binance Futures Tournament, set-up:
Sell Entry= 14.786 - 15.186
Take Profit= 13.741 | 12.623 | 10.335
Stop Loss= 16.232
Risk/Reward= 1:1 | 1:1.9 | 1:3.73
Expected Profit= 24.93% | 47.31% | 93.12%
Possible Loss= -24.93%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 3x
Note
100EMA broke and original stop got hit at 16.232 with -24.93% (3x).If you're using the PCbot, SL was updated in time and is now 17.057, so you're still in.
I can see another channel forming and the first target can still be reached, so you can decide to exit right now at 16.137 with -23.04% by clicking on Close Now, or leave it with that new set-up:
Risk/Reward= 1:0.6 | 1:1.14 | 1:2.25
Expected Profit= 24.93% | 47.31% | 93.12%
Possible Loss= -41.46%
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