$DYDX/USDT 12h (Binance Futures) Broadening wedge near breakout
dYdX got rejected on 100EMA resistance again, next attempt should be enough to break it up!
Current Price= 8.888
Buy Entry= 8.907 - 8.239
Take Profit= 11.954 | 15.237 | 20.777
Stop Loss= 6.879
Risk/Reward= 1:2 | 1:3.93 | 1:7.2
Expected Profit= +39.44% | +77.73% | +142.35%
Possible Loss= -19.76%
Fib. Retracement= 0.382 | 0.559 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 1.5 months
Websites: dydx.community/ dydx.foundation/ dydx.exchange/
Current Price= 8.888
Buy Entry= 8.907 - 8.239
Take Profit= 11.954 | 15.237 | 20.777
Stop Loss= 6.879
Risk/Reward= 1:2 | 1:3.93 | 1:7.2
Expected Profit= +39.44% | +77.73% | +142.35%
Possible Loss= -19.76%
Fib. Retracement= 0.382 | 0.559 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 1.5 months
Websites: dydx.community/ dydx.foundation/ dydx.exchange/
Trade closed: stop reached
SL was hit with -19.76% (1x) and -1RdYdX is definitely not willing to let us win, fell deeper forming a broadening wedge and just broke-out locally.
Still quite uncertain though, we'll wait patiently for a clearer opportunity!
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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.