$MKR/USDT 12h (#BinanceFutures) Falling broadening wedge
Maker DAO bounced back on support and seems to be heading toward 50MA retest, let's give it a try.
Current Price= 1850.9
Buy Entry= 1822.4 - 1733.4
Take Profit= 1994.5 | 2199.6 | 2494.3
Stop Loss= 1596.7
Risk/Reward= 1:1.2 | 1:2.33 | 1:3.95
Expected Profit= +24.36% | +47.44% | +80.58%
Possible Loss= -20.38%
Fib. Retracement= 0.382 | 0.559 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 1.5 months
makerdao.com
Contracts:
#ERC20 0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2
#BEP20 0x5f0da599bb2cccfcf6fdfd7d81743b6020864350
#BEP2 MKR-F04
Current Price= 1850.9
Buy Entry= 1822.4 - 1733.4
Take Profit= 1994.5 | 2199.6 | 2494.3
Stop Loss= 1596.7
Risk/Reward= 1:1.2 | 1:2.33 | 1:3.95
Expected Profit= +24.36% | +47.44% | +80.58%
Possible Loss= -20.38%
Fib. Retracement= 0.382 | 0.559 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 1.5 months
makerdao.com
Contracts:
#ERC20 0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2
#BEP20 0x5f0da599bb2cccfcf6fdfd7d81743b6020864350
#BEP2 MKR-F04
Trade active
All entries filledMakerDAO is retesting the demand zone, set-up is in play, let's remain patient!
Note
Back to first entryMakerDAO is still ranging inside the wedge, looks like it is just a matter of time before we retest 50MA resistance!
Trade closed: target reached
TP1 reached with +24.36% (2x) and +1.2RMakerDAO made it to 50MA quite accurately following the arrow, nice to earn while market is still uncertain!
If the breakout is confirmed it will continue towards higher targets, SL adjusted to lowest entry anyway (1733.4).
Trade closed: target reached
TP2 reached with +47.44% (2x) and +2.33RMakerDAO confirmed the breakout and continued the recovery, retesting 100EMA resistance.
A pull-back before heading higher would make sense, SL adjusted to highest entry now (1822.4)
Note
Pulled back to 50MAMaker DAO took its time and finally retested the support, still expecting a bounce toward last target!
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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.