$YFI/USDT 3h (Binance Futures) Descending trendline breakout
Updated
yearn.finance broke-out bullish and looks good for continuation, we better wait for a small pull-back before entering though.
Current Price= 33444
Buy Entry = 32014 - 31214
Take Profit= 34105 | 36425 | 39169
Stop Loss= 29614
Risk/Reward= 1:1.25 | 1:2.41 | 1:3.78
Expected Profit= +23.64% | +45.66% | +71.70%
Possible Loss= -18.99%
Fib. Retracement= 1.272 | 1.618 |2
Margin Leverage= 3x
Estimated Gain-time= 10 days
Current Price= 33444
Buy Entry = 32014 - 31214
Take Profit= 34105 | 36425 | 39169
Stop Loss= 29614
Risk/Reward= 1:1.25 | 1:2.41 | 1:3.78
Expected Profit= +23.64% | +45.66% | +71.70%
Possible Loss= -18.99%
Fib. Retracement= 1.272 | 1.618 |2
Margin Leverage= 3x
Estimated Gain-time= 10 days
Trade active
First entry filledYearnFinance retesting the demand zone / 100EMA, could go for 2nd entry before bouncing.
Trade closed: target reached
TP1 reached with +23.64% (3x) and +1.25RYearnFinance perfectly bounced back on 100EMA and is confirming the breakout!
Trade closed: target reached
TP2 reached with +45.66% (3x) and +2.41RYearn.finance went for 50MA retest and bounced back hitting second target!
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.