TradingOn

NEO/BTC 8H (Binance) Big fat ascending triangle in formation

Long
TradingOn Updated   
BINANCE:NEOBTC   NEO / Bitcoin
NEO is at triangle support and seems like it's done with correction from last high.
Let's long this retracement, targets are in safe zone for short/mid term, but long term looks good also and can grow way higher.
In fact, in case the patter would be broken, hold some for big ROE!

Entry= 0.001264 - 0.001238
Take Profit= 0.001375 | 0.001473 - 0.001542
Stop Loss= 0.001127

Risk/Reward Ratio= 1:1 | 1:1.79 | 1:2.35
Expected Profit= 9.91% | 17.75% | 23.26%
Possible Loss= -9.91%

Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 1x | 3x | 5x
Trade closed: target reached:
TP1 hit with +9.91%, take some profit and hold for other targets!
Comment:
Right now it's fluctuating between Fibs 0.236 & 0.382 but if goes down to entry fill back your bag.
Trade active:
Best entry at 0.001238 filled!
Comment:
Also a double bottom is forming, but not bouncing yet.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.