$MANA/USDT 4h (Binance Futures) Ascending channel breakdown
Decentraland has broken bearish locally and is likely to retrace down after 50MA retest.
Current Price= 0.6676
Sell Entry = 0.7171 - 0.6919
Take Profit= 0.6313 | 0.5832 | 0.5273
Stop Loss= 0.7657
Risk/Reward= 1:1.2 | 1:1.98 | 1:2.9
Expected Profit= +20.78% | +34.44% | +50.30%
Possible Loss= -17.38%
Fib. Retracement= 0.618 | 0.786 | 1
Margin Leverage= 2x
Estimated Gain-time= 10 days
Current Price= 0.6676
Sell Entry = 0.7171 - 0.6919
Take Profit= 0.6313 | 0.5832 | 0.5273
Stop Loss= 0.7657
Risk/Reward= 1:1.2 | 1:1.98 | 1:2.9
Expected Profit= +20.78% | +34.44% | +50.30%
Possible Loss= -17.38%
Fib. Retracement= 0.618 | 0.786 | 1
Margin Leverage= 2x
Estimated Gain-time= 10 days
Trade closed: target reached
TP1 reached with +20.78% (2x) and +1.2RDecentraland tried to break-in the channel but got rejected a bit higher than expected.
Fortunately, Stop Loss was well placed and it was just updated to 2nd entry (0.7170$) now.
Also, we can observe a break-out and retest on the RSI that would indicate a possible bounce soon.
And drawing TLs using bodies shows us a symmetrical triangle on potential support here!
Trade closed: target reached
TP2 reached with +34.44% (2x) and +1.98RDecentraland bounced twice on TL support then finally broke it down!
Last target is in play, SL has been automatically moved to 1st entry (0.6920$).
Trade closed: target reached
TP3 reached with +50.30% (2x) and +2.9RDecentraland went for all targets and even more, great to make such profit during market correction!
Related publications
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.
Related publications
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.