COMP/USDT 8h (Binance Fut) Descending channel on midline support
#Compound retracement is almost over, be ready for uptrend soon!
Current Price= 105.43
Buy Entry= 107.19 - 103.59
Take Profit= 116.79 | 127.66 | 135.99
Stop Loss= 93.99
Risk/Reward= 1:1 | 1:1.95 | 1:2.68
Expected Profit= +10.82% | +21.13% | +29.04%
Possible Loss= -10.82%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 360h
Current Price= 105.43
Buy Entry= 107.19 - 103.59
Take Profit= 116.79 | 127.66 | 135.99
Stop Loss= 93.99
Risk/Reward= 1:1 | 1:1.95 | 1:2.68
Expected Profit= +10.82% | +21.13% | +29.04%
Possible Loss= -10.82%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 360h
Trade active
All entries filled#Compound dipped more than I expected, but it's back above midline and a falling wedge is forming.
So I'm still positive about that trade, since I'm not levering I'll stick to it.
Note
Still holding that long, SL wasn't hit yet but not looking so goodBreaking that wedge wasn't enough to propel the price up and dipped even more afterwards.
I'll stick to it anyway, no leverage so I can afford losing the trade, I believe #Compound can surprise us!
Trade closed: stop reached
Stopped with -10.82% (1x)Bad moment for ALTS market, better take a step back for some time.
Always manage risk, respect leverage & position size!
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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.
Always manage risk, respect leverage & position size!
Auto trading channels using Cornix bot:
t.me/TradingOnCornix (3 TPs)
t.me/HedgeMeDerivatives (1 TP)
t.me/HedgeMeSpot (vs BTC)
Don't hesitate to send DM for more info.
Auto trading channels using Cornix bot:
t.me/TradingOnCornix (3 TPs)
t.me/HedgeMeDerivatives (1 TP)
t.me/HedgeMeSpot (vs BTC)
Don't hesitate to send DM for more info.
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.