EOS/BTC 12H (Binance) Falling wedge breakout & ready to fly Long

EOS / BitcoinBinance

Description

⋅ Mar 5, 2020 6:01 PM

EOS is looking ready to retrace after this clear breakout.
We can see how Price Action respected EMA20 (red one) in both uptrend and downtrend.
If we close above it, we are definitely bullish but I'm expecting a retest that's why I put a lower entry:

Buy Entry= 0.0004176 - 0.0004116
Take Profit= 0.0004394 | 0.0004748 | 0.0005000
Stop Loss= 0.0003897

Risk/Reward Ratio= 1:1 | 1:2.42 | 1:3.43
Expected Profit= 6.01% | 14.52% | 20.60%
Possible Loss= -6.01%

Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 1x | 3x | 5x

Trade active

⋅ Mar 5, 2020 8:12 PM

Entry hit.

Comment

⋅ Mar 8, 2020 2:35 AM

Perfect pullback and bounced from wedge resistance became support, keep holding!

Trade closed: stop reached

⋅ Mar 9, 2020 7:47 PM

SL hit with -6.01%, I will look for a better entry soon!