$EGLD/USDT 8h (Binance Futures)Falling broadening wedge breakout

Elrond eGold has broken out and is likely to retest 50MA before bullish continuation.

Current Price= 80.52
Buy Entry = 75.09 - 70.69
Take Profit= 85.98 | 99.50 | 115.25
Stop Loss= 61.94

Risk/Reward= 1:1.2 | 1:2.43 | 1:3.87
Expected Profit= +17.96% | +36.51% | +58.11%
Possible Loss= -15.02%

Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 3 weeks

Comment:

Went up +27.44% (1x) since called

Elrond eGold pumped almost instantly and crossed above 100EMA like it was nothing.
Unluckily, entry was never filled but 50MA is still laying down there and RSI is about to enter overbought territory, so we'll wait for it patiently!

Trade active:

First entry filled

Elrond eGold finally dipped to demand zone letting us in! It may go for 2nd entry before a bounce though.

Trade active:

Second entry filled

Elrond eGold went for it, let's wait and see if bounces in the coming days now.

Trade closed: target reached:

TP1 reached with +17.96% (1x) and +1.2R

Elrond eGold bounced back nicely, regaining both 50MA then 200MA and forming a bull-flag.
Bullish continuation is in play, SL updated to 2nd entry (70.69$) in any case!

Comment:

TP2 reached with +36.51% (1x) and +2.43R

Elrond eGold pushed higher breaking the Trend-Line, SL moved up to 1st entry (75.09$).

Trade closed: target reached:

🎯 TP3 reached with +58.11% (1x) and +3.87R

All targets achieved for Elrond eGold, patience paying-off, totally worth the wait!