$FXS/BTC 4h (Binance Spot) Bull-pennant breakout

Sep 13, 2021

Frax Share broke out bullish locally and looks ready for another leg-up that pull-back.
FXS is not only a DeFi token but also a member of the Avalanche Ecosystem!
It works as a governance for the Frax Protocol, which is the first fractional-algorithmic stablecoin system (FRAX).

Current Price= 0.00012369
Buy Entry= 0.00012395 - 0.00011715
Take Profit= 0.00014456 | 0.00015810 | 0.00018294
Stop Loss= 0.00010275

Risk/Reward= 1:1.35 | 1:2.11 | 1:3.51
Expected Profit= +19.92% | +31.15% | +51.75%
Possible Loss= -14.77%

Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 1x
Estimated Gain-time= 2 weeks

Sep 13, 2021

Note

More information about Frax Share

Governance:
Grants holders governance rights to add/adjust collateral pools, set minting/redemption fees
Staking:
Stake in various pools to earn interest with preferred APY.
Minting & Redeeming:
FXS will be burned when minting FRAX and minted when redeeming FRAX.
Rewards:
FXS rewards will be claimable for users who deposit Uniswap LP tokens to incentivized pairs.

research.binance.com/en/projects/frax-share

Frax Protocol: frax.finance/

Sep 15, 2021

Trade active

All entries filled

Frax Share did not bounce on pennant retest and is now on critical local support!
Seems like the SL is quite "huntable" so we edited it a bit lower (0.00009654₿) for now (R/R= 1:1 for TP1)

Sep 20, 2021

Trade closed: target reached

TP3 reached with +51.75% (1x) and +2.6R

Frax Share pumped out of nowhere achieving all targets at once before pulling back!