$COMP/BTC 3D (Binance Margin) Symmetrical triangle on resistance
Updated
Compound pumped very nicely but it is about to face strong resistance and RSI is quite high.
We expect a last push up before probably starting to reverse, if you bought lower you can take some profit on that zone too!
Current Price= 0.014715
Sell Entry = 0.015580 - 0.017230
Take Profit= 0.011628 | 0.008104 | 0.005263
Stop Loss= 0.020241
Risk/Reward= 1:1.15 | 1:2.08 | 1:2.97
Expected Profit= +19.47% | +35.38% | +50.47%
Possible Loss= -17.00%
Fib. Retracement= 0.618 | 1 | 1.414
Margin Leverage= 1x
Estimated Gain-time= 5 months
We expect a last push up before probably starting to reverse, if you bought lower you can take some profit on that zone too!
Current Price= 0.014715
Sell Entry = 0.015580 - 0.017230
Take Profit= 0.011628 | 0.008104 | 0.005263
Stop Loss= 0.020241
Risk/Reward= 1:1.15 | 1:2.08 | 1:2.97
Expected Profit= +19.47% | +35.38% | +50.47%
Possible Loss= -17.00%
Fib. Retracement= 0.618 | 1 | 1.414
Margin Leverage= 1x
Estimated Gain-time= 5 months
Note
Went down -12.50% (1x) from local topCompound started retracing as expected but entry was missed by 0.000222, that was quite near.
Trade closed: target reached
TP1 would have been reached with up to +27.54%Compound kept retracing down, now sitting on 100EMA potential support.
Could be a good spot to start reducing the short position here since a bounce is likely!
Trade closed: target reached
TP3 reached with +67.91% and +2.91RCompound did a full retracement, that was precise! Recovery is around the corner now.
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