$COMP/USDT (Binance Futures) Falling wedge breakout Long

COMP / TetherUS PERPETUAL CONTRACTBinance

Description

⋅ Sep 1, 2021 10:49 AM

Compound is looking good for bullish continuation here after regaining 100EMA and breaking out.

Current Price= 455.95
Buy Entry = 455.63 - 442.81
Take Profit= 496.82 | 548.43 | 601.95
Stop Loss= 1039.8

Risk/Reward= 1:1.25 | 1:2.6 | 1:4
Expected Profit= +21.20% | +44.16% | +68.00%
Possible Loss= -17.02%

Fib. Retracement= 0.786| 1.117 | 1.414
Margin Leverage= 2x
Estimated Gain-time= 5 weeks

Comment

⋅ Sep 1, 2021 11:06 AM

EDIT:
Stop Loss= 410.99 (as chart is indicating)

Trade closed: target reached

⋅ Sep 2, 2021 5:25 PM

First entry filled

Compound moved up to +14.50% (2x) then got rejected on descending TL again, next attempt would be it!
50MA was just retested after that and seems to be acting as support nicely.

Trade closed: target reached

⋅ Sep 8, 2021 5:58 PM

TP1 was reached with +21.20% (2x) and +1.25R

Similar situation with Compound, remaining position closed in small loss: -2.86% (2x) since 2nd target was missed by 3.10% (18.03$).