Long
Our First Trade on Binance
Our first trade on Binance was with ICX/ETH. We started our account with 4.49 ETH to trade with.
After the initial run of > 14%, we saw ICX/ETH forming a flag with support around 5500. Our plan was to enter the trade when the flag was broken.
Flag Break
Trade Setup:
1. Coin made initial run > 10%
2. Consolidates at (key) support level and forms a flag pattern
Trade Management:
1. Entry: After flag break, above moving averages (9 and 50) for higher probability
2. Profit: 1/2 of initial run (1/2 of 14.6% = 7.5%). Can take partial or “trial” profits at (key) resistance levels.
3. Stop: 1/3 of Profit
Trade
Entry: 5663
Exit: We've decided to take partial profits, 1/2 at 5990 and 1/2 at 6137
Profit: 7.1%
With this trade our ETH's grew from 4.49 to 4.80.
Please like and share if you found this informative and helpful. Leave a comment if you have any questions.
And until next time, good luck with your trading!
After the initial run of > 14%, we saw ICX/ETH forming a flag with support around 5500. Our plan was to enter the trade when the flag was broken.
Flag Break
Trade Setup:
1. Coin made initial run > 10%
2. Consolidates at (key) support level and forms a flag pattern
Trade Management:
1. Entry: After flag break, above moving averages (9 and 50) for higher probability
2. Profit: 1/2 of initial run (1/2 of 14.6% = 7.5%). Can take partial or “trial” profits at (key) resistance levels.
3. Stop: 1/3 of Profit
Trade
Entry: 5663
Exit: We've decided to take partial profits, 1/2 at 5990 and 1/2 at 6137
Profit: 7.1%
With this trade our ETH's grew from 4.49 to 4.80.
Please like and share if you found this informative and helpful. Leave a comment if you have any questions.
And until next time, good luck with your trading!
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.
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.