Short
$LUNA/USDT 15m (Binance Futures) Rising wedge near breakdown
Terra had a crazy uptrend and is locally retracing down, I believe it could last some more days.
It is now forming a rising wedge which could break bearish in case of rejection on 100EMA and TL retest!
Current Price= 18.2512
Sell Entry= 18.3351 - 18.5555
Take Profit= 17.7800 | 17.3745 | 16.7006
Stop Loss= 19.0020
Risk/Reward= 1:1.2 | 1:1.92 | 1:3.13
Expected Profit= +18.05% | +29.05% | +47.30%
Possible Loss= -15.10%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 5x
Estimated Gain-time= 2 days
It is now forming a rising wedge which could break bearish in case of rejection on 100EMA and TL retest!
Current Price= 18.2512
Sell Entry= 18.3351 - 18.5555
Take Profit= 17.7800 | 17.3745 | 16.7006
Stop Loss= 19.0020
Risk/Reward= 1:1.2 | 1:1.92 | 1:3.13
Expected Profit= +18.05% | +29.05% | +47.30%
Possible Loss= -15.10%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 5x
Estimated Gain-time= 2 days
Trade active
All entries filledSeems like Terra is pushing higher, not the best timing but can still play out.
I updated the SL (Stop Loss) a bit higher (19.1106$) to give it more air to breathe!
RR (Risk Reward) ratio is 1:1 now for first target, let's wait and see if gets rejected here.
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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.