KAVA - good R2R trade if resistance line breaks (LONG)
Updated
KAVA has a very good R2R trade idea. Currently they are 3 main patterns which mix in different timeframes.
1) In 1D KAVA is in big H&S pattern and "blue" line in chart is the resistance zone. IF this breaks will be the best scenario.
2) On 4 HRs frame we have a good trendline which holds the current move from 24th. If this holds in next few days will be good indicator
3) Again on 4 HRs we have resistance line which mix very well with 1D H&S pattern. I want to see this breaks
Trade will be like:
Entry: After break and retrace to H&S resistance line
Exit: 2.1+ (even higher if BTC holds)
SL: ~1.82
Overall 2:1 R2R
1) In 1D KAVA is in big H&S pattern and "blue" line in chart is the resistance zone. IF this breaks will be the best scenario.
2) On 4 HRs frame we have a good trendline which holds the current move from 24th. If this holds in next few days will be good indicator
3) Again on 4 HRs we have resistance line which mix very well with 1D H&S pattern. I want to see this breaks
Trade will be like:
Entry: After break and retrace to H&S resistance line
Exit: 2.1+ (even higher if BTC holds)
SL: ~1.82
Overall 2:1 R2R
Trade active
Trade is active. I personally got into market with limit order at 1.82 EUR.My SL is 1.78
Current price ~1.94
Target 1) 2 EUR
Target 2) 2.1+ EUR
Target 3) 2.2 EUR
Note
Target 1 - reached!Target 2 - in progress!
Trade closed: target reached
Target 2 reached!Target 3 was stopped!
For me personally I exit 30% on Target 1 and 40% on Target 2. My last portion got stopped with SL. Overall very successful trade!
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