BitOwned here back again with another chart just for you.
The chart is quite self explanatory, small risk-reward ratio, some hidden chart work behind the scenes just to share with you this simple beauty. I like to keep the charts as simple as possible when sharing with you, so you can have a better perspective over the trade entries and targets.
To explain in a few words, I'm waiting for a small pullback to enter long, or simply a strong break and close above the resistance line at $10150 to consider entering from there.
We have broken the trendline established from 20-July and I'm currently expecting to go higher. There's a retracement level successfully retested at $9500 that I've been calling since 12-July. Since that has been fulfilled and we broke above in a quite bullish way, I expect my 1st target and potentially the 2nd target to be met very soon.
Enjoy trading everyone and make sure to join our community at BitOwned. (com) and share your thoughts in the comments.
Trade Successfully Entered on support retest as explained. We are in the game now.
HINT: Stop-Loss level should be moved closer to our entry if we don't see a powerful move up soon enough. I was expecting this and a potential stop-loss hunt. I didn't see any of this until now. So be careful.
I will keep everyone updated. Make sure to follow to be up-to-date.
Trade active
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I found another target for those who want to get extra profit from this trade.
Move T1 to $10940, close when it reach and enter again on a retest of $10550.
Long Trade called at $9950 is going according to the plan. Even called the retracement to $10550. 🤑 Followers should have made lots of money in just a few days from our call !
Bullandbeartrading
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Very good analysis and target as well as risk reward !!