davec83
Long

LRC/BTC Loopring Trading Setup - Bullish Pennant

BINANCE:LRCBTC   Loopring / Bitcoin
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13
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LRC is showing a bullish pennant formation. Pennants are not very reliable, but given the current volume momentum, I believe we will see higher prices.

I plan to enter this trade only after the breakout AND if price action stays above support. If you have already entered, please use a stop loss.

Entry: 5800 on breakout confirmation
TP1: 6500
TP2: 7400
TP3: 8000
SL: around 4995

*Not intended as trading advice, please use your own judgment when trading with real money.*

If you agree with this chart please give thumbs up!!! Comments are welcome :D
Comment: We had a breakout, but I would still like to wait for confirmation that we are staying above. There's room to come a little lower, so no need to rush right now. Also, you can move your SL a little higher.

Comment: This is sort of what I expect, it we don't break heavy resistance right now
Comment: Targets 1 and 2 reached.

TP1: 6500 (reached)
TP2: 7400 (reached)
TP3: 8000
Trade closed: target reached: All targets reached by 4/13.
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