Long
$MATIC/USDT 4h(#BinanceFutures)Falling broadening wedge breakout
Polygon just regained 50MA support and looks ready for bullish continuation after a last retest.
Current Price= 2.2351
Buy Entry= 2.2088 - 2.1160
Take Profit= 2.4165 | 2.6646 | 3.0737
Stop Loss= 1.9585
Risk/Reward= 1:1.25 | 1:2.46 | 1:4.47
Expected Profit= +23.50% | +46.44% | +84.28%
Possible Loss= -18.86%
Fib. Retracement= 0.559 | 0.786 | 1.117
Margin Leverage= 2x
Estimated Gain-time= 3 weeks
Current Price= 2.2351
Buy Entry= 2.2088 - 2.1160
Take Profit= 2.4165 | 2.6646 | 3.0737
Stop Loss= 1.9585
Risk/Reward= 1:1.25 | 1:2.46 | 1:4.47
Expected Profit= +23.50% | +46.44% | +84.28%
Possible Loss= -18.86%
Fib. Retracement= 0.559 | 0.786 | 1.117
Margin Leverage= 2x
Estimated Gain-time= 3 weeks
Trade closed: target reached
TP1 reached with +23.50% (2x) and +1.25RPolygon continued with the recovery as predicted, we expect it to keep rising!
Having a hard time to regain 200MA, SL adjusted to lowest entry to protect the trade (2.1160$)
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!
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.