$MATIC/USDT 4h(#BinanceFutures)Falling broadening wedge breakout
Updated
Polygon just regained 50MA support and looks ready for bullish continuation after a last retest.
Current Price= 2.2351
Buy Entry= 2.2088 - 2.1160
Take Profit= 2.4165 | 2.6646 | 3.0737
Stop Loss= 1.9585
Risk/Reward= 1:1.25 | 1:2.46 | 1:4.47
Expected Profit= +23.50% | +46.44% | +84.28%
Possible Loss= -18.86%
Fib. Retracement= 0.559 | 0.786 | 1.117
Margin Leverage= 2x
Estimated Gain-time= 3 weeks
Current Price= 2.2351
Buy Entry= 2.2088 - 2.1160
Take Profit= 2.4165 | 2.6646 | 3.0737
Stop Loss= 1.9585
Risk/Reward= 1:1.25 | 1:2.46 | 1:4.47
Expected Profit= +23.50% | +46.44% | +84.28%
Possible Loss= -18.86%
Fib. Retracement= 0.559 | 0.786 | 1.117
Margin Leverage= 2x
Estimated Gain-time= 3 weeks
Trade closed: target reached
TP1 reached with +23.50% (2x) and +1.25RPolygon continued with the recovery as predicted, we expect it to keep rising!
Having a hard time to regain 200MA, SL adjusted to lowest entry to protect the trade (2.1160$)
Trade closed manually
Remaining position was closed with -4.30% (2x) and -0.23RPolygon got rejected on 200MA resistance twice and retraced down below demand zone.
Higher targets are still valid but we are out for now, we'll try to buy back later!
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