BNB/USDT 8H (Binance Fut.) Rising wedge breakout & pullback Short

Binance Coin / TetherUS PERPETUAL CONTRACTBinance

Description

⋅ May 6, 2020 12:28 PM

Binance Coin clearly broke-out this bearish pattern, now pulled-back is about to end, better prepare for downtrend.
We've got that blue Trend Line that was broken last week acting as support, but a breakdown would trigger lots of sell orders.

Sell Entry= 17.035 - 17.715
Take Profit= 15.445 | 13.807 | 11.025
Stop Loss= 19.306

Risk/Reward= 1:1 | 1:1.85 | 1:3.29
Expected Profit= 33.33% | 61.62% | 109.65%
Possible Loss= -33.33%

Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 3x

Trade closed: target reached

⋅ May 15, 2020 4:43 PM

TP2 hit with +61.62% profit (3x) last Sunday then went up for the blue TL acting as resistance right now.