benjihyam

$GRT breaking out w/ upside to $8.10

Long
BINANCE:GRTUSD   GRT / US Dollar (calculated by TradingView)
$GRT seems to be breaking out after consolidating since it's February highs.

If it can push past the 50% retracement level at $1.71 and then it's ATH at $2.97, then I think there could be a strong move upwards and the first take profit level will be somewhere between $4.49 and $6.42. After that, I think it's likely to consolidate further before surging up to a final target of $8.10.

Let's see how it plays out over the coming weeks/months.

Entry at $.87.
Comment: I'm out of this trade. Exited in the $1 range. I think it likely doesn't run until sometime late next year... sensing overall weakness in the market and the r/r isn't there for me to hold.

There's a possibility that it still goes and tests the 50% retracement level at $1.70 before correcting further, but I don't think there's enough reward in this trade for me to take it.