BAL had been trying hard to break the key demand area after successfully making cup and handle pattern, though the bulls failed to keep BAL above key level area and the trendline support which has been held since 21st July has been broken downward along with printing of first LL after a long time. It would be safe to assume that after a strong upward rally, BAL is heading for correction now. My target would be that yellow rectangle area as it is where Golden Pocket lies as well.
Trade closed: stop reached:
Went down almost 1.8$ after my call, was expecting to reach the highlighted area but due to strong upward movement in Bitcoin, bulls became strong and pushed the price upward.
Stop-loss was placed in profit so it was exited in profit with profit @26.07$
Stop-loss was placed in profit so it was exited in profit with profit @26.07$