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Nov 27, 2020 11:32 AM

YFI/USDT 2h (Binance Fut.) Descending channel breakout & retest Long

BINANCE:YFIUSDT.P120
YFI / TetherUS PERPETUAL CONTRACTBinance

Description

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Yearn.Finance seems to be preparing for bullish continuation, next big move should be soon!
Parallel channel broke out and is being retesting, also 200MA is acting as support.

Current Price= 23214.3
Buy Entry= 23351.2 - 21851.2
Take Profit= 26924.9 | 34272.0 | 40698.1
Stop Loss= 18983.5

Risk/Reward= 1:1.2 | 1:3.23 | 1:5
Expected Profit= +19.13% | +51.64% | +80.07%
Possible Loss= -16.01%

Fib. Retracement= 0.786 | 1.272 | 1.618
Margin Leverage= 1x
Estimated Gain-time= 240h

Trade closed: target reached

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TP1 reached with +19.13% (1x)

Nice move up for YearnFinance, bullish breakout is confirmed, hold for higher targets!

Comment

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TP2 reached with +32.54% (1x) 🎯

yearn.finance kept going up, but since targets were far away I decided to adjust them:
TP2 at Current Price (Fib 1) & TP3 at ex-TP2 (Fib 1.272).
Very nice profit without leverage again, enjoy and hold remaining position!

Support and ResistanceParallel ChannelMoving AveragesyearnfinanceYFIYFIUSDTbinancefuturesbullishbreakoutfibretracementDEFI
Comments
mapicurs35133
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Thank you for your chart
TradingOn
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@mapicurs35133, You're welcome, thanks for your support!
Protixder
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TradingOn
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@Protixder, It seems like that fractal is invalidated already, but thanks for sharing anyway.
Protixder
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nice
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