Long
$MC/BTC 2h (Binance Spot) Ascending triangle breakout & retest
Merit Circle regained 200MA and successfully pulled back to 50MA after, printing a golden cross!
Current Price= 0.0001191
Buy Entry= 0.0001161 - 0.0001113
Take Profit= 0.0001294 | 0.0001419 | 0.0001632
Stop Loss= 0.0001032
Risk/Reward= 1:1.5 | 1:2.69 | 1:4.71
Expected Profit= +13.81% | +24.80% | +43.54%
Possible Loss= -9.23%
Fib. Retracement= 0.786 | 1.272 | 2
Margin Leverage= 1x | 2x
Estimated Gain-time= 10 jours
Current Price= 0.0001191
Buy Entry= 0.0001161 - 0.0001113
Take Profit= 0.0001294 | 0.0001419 | 0.0001632
Stop Loss= 0.0001032
Risk/Reward= 1:1.5 | 1:2.69 | 1:4.71
Expected Profit= +13.81% | +24.80% | +43.54%
Possible Loss= -9.23%
Fib. Retracement= 0.786 | 1.272 | 2
Margin Leverage= 1x | 2x
Estimated Gain-time= 10 jours
Trade active
All entries filledMeritCircle kept going up at first almost reaching all targets, with up to +34.85%
Then went down revisiting neckline support, we guess another run is coming!
Let's update TP2 a bit higher (0.0001459₿) and SL slightly lower (0.0000980₿), with R/R= 1:1 for TP1
Note
Back to BE (Break-Even)Merit Circle bounced then regained 200MA & 50MA, bullish scenario remains valid, just taking a bit longer!
Trade closed: stop reached
SL hit with -13.81% and -1RMeritCircle was not able to keep up and dipped more, we'll keep an eye on that broadening wedge.
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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.