SNX
$SNX/USDT 1h (Binance Fut.) Symmetrical triangle break & retestSynthetix Network looks ready for bullish continuation after that last pull-back!
Current Price= 21.346
Buy Entry = 20.949 - 20.949
Take Profit= 22.077 | 23.081 | 24.146
Stop Loss= 19.873
Risk/Reward= 1:1.5 | 1:2.63 | 1:3.84
Expected Profit= +25.44% | +44.80% | +65.32%
Possible Loss= -17.00%
Fib. Retracement= 0.786 | 1.272 | 1.764
Margin Leverage= 4x
Estimated Gain-time= 1 week
SNX long position potentialLooking for various indicators in confluence to solidify confidence in SNX long term.
Stop loss 18-19 dollars
Target: set up various targets on the way up 25/30/40
Loading: ladder your position in slowly.. it's a long position and dependent on etherium movement
Please ask any questions.
SNX/USD: BULLISH SET UPSNX (Synthetix Network) Binance Chart
Ichimoku : The lagging span was blocked by the candle. Price still below the cloud so trend still bearish.
However
Kijun and Tenkan as support
And
Trend line : was broken which shows some signs of reversal. Price now retesting the trend line, could bounce and start an uptrend.
Targets: Fibo extensions on the chart
How to play it?
You could enter now with a stop loss just below the trend line (about 18.40) OR wait for the price to be back above the cloud and the lagging span to break the trend line. With the 2nd option you'll miss a part of the move but the change of trend will be confirmed.
Trade safe
SNX/USDT BreakoutSynthetix (SNX) - Daily Log Chart
A Protocol For Trading Synthetic Assets On Ethereum.
Synthetix is an Ethereum-based protocol for issuing and trading synthetic assets, including cryptocurrencies, leveraged tokens, equities, and other real-world assets.
We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature.
and are therefore are unqualified to give investment recommendations.
Always do your own research and consult with a licensed investment professional before investing.
This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
SNX just triggered for a solid bounce play off the lower rangeSNXUSDT just triggered for a possible good risk conscious trade off the lower range. With crypto on whole in a massive bull market bounces off the lower range have been super high probability trades with large returns really quickly. A potential trade could be a buy here with a target up into the 19.50 range. We are trading this long in our live account.