POEBTC - Potential 40% Profit on Breakout

POE has been moving in an ascending triangle, respecting trendline support.

We are currently waiting for a breakout through the top right corner of the triangle and through horizontal support.

It is important not to enter trade until we have confirmation.

Risk : Reward is always 1 : 3 with my trades, but you could make your Stop Loss even tighter and go for a 1 : 4 if you wanted to.

ALWAYS use SL for protection on every trade. We can't win them all.

Targets marked on chart and will be published in next comment.

Happy Hunting

Comment:

PROFIT TARGETS:
1. 732 sats
2. 805 sats
3. 862 sats
4. 923 sats

Trade active:

Previous 4hr candle closed above resistance. New candle opened higher. Trade is now active.
I encourage everyone to use SL on every trade.

Comment:

If anyone is unsure how to set a SL target, simply do it like this:
If your Risk : Reward Ration is 1 : 4, you draw that into your chart and then use those sat levels to create your sell order on the exchange.
See the below picture for example.

Comment:

We have really only had some Doji candles over the last few periods. Nothing to do just yet. I am personally down around 1.2% from entry, which is well within my risk threshold. The trade continues.

Comment:

Important to note that we are still sitting at the top of the Bollinger Bands as well. This is a good sign for bullish movement.

Trade closed: stop reached:

Unfortunately overnight the price dipped dramatically and the SL was activated.

We can't win them all, but we always use SL for protection and look for next entry.

Thanks for watching