jacobcanfield
Long

Playing Fetch For a 24-40%+ Reversal Swing Trade

BINANCE:FETBTC   Fetch.AI / Bitcoin
- Falling wedge structure with a 261.8% downside support.
- Hourly and 4 hour are showing Bullish Divergence
- Double bottom on price structure with a small breakout and retest of the falling wedge resistance turned support.
- Higher risk trade due to newer listing.
Comment: Strong breakout from my initial entry for 18% gain.

Retraced back to the 50% fibonacci level from the impulse and is forming a continuation bullish pennant.

Trailing stop loss below the initial retrace to secure 8% profit in case the trade turns back down from here.

8% from our initial risk is still a 3-4 RR trade.

I see a 17-20% continued upside with a breakout in the next 24 hours hopefully.

If not, the profit will be secured and we will move on to the next trade.

Hope you guys enjoyed this one. :)

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Please take a look at our idea and let us know what you think!
Reply
It was more of a descending triangle before it broke out, but yeah, super play. Have you seen ENJBTC? => Completely on a tear, basically 5xed.
Reply
spot on,
what move do you think it'll make now?
+1 Reply
"Stop trying to make Fetch happen, Jacob. It's not going to happen."
Reply
Nice catch! Thanks for this good game of fatch :)
+4 Reply
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