KAVA is in a really good place for small retrace as technically we reached double bottom at ~1.5 EUR. The target is around 1.7 EUR. The SL should be around 1.47 EUR. Overall this is a very good R2R place to open long with SL of course.
Why now? 1. KAVA went down with nearly 17% and that is another indicator that a retrace should happen anytime soon. 2. KAVA has problems with liquidity which means that if you put a limit order it can get filled/sold in 1 wick around 1.7 3. BTC seems on the trendline, so don't expect immediate drop from here
Summary: Entry - 1.5 Target - 1.7 SL - 1.47
Good luck!
Comment
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Trade is active and it is doing quite well. 1.6 EUR is the first resistance zone and if this is being taken out then 1.7 is near.
Trade closed: target reached
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Last evening the target was reached t 1.7+ For me personally the trade was with 14% profit.
Now as KAVA is looking good, I will be looking for another opportunity in short term. I would like to see a good trendline to trade or some range that can be predicted with SL ofc :)