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bizmark
25 aoƻt 2022 08:26

BNB to break out 2Ā Long

Binance Coin / TetherUSBinance

Description

ā‹…
EDIT: Please ignore the lower chart, it's shown by mistake, just go with the upper chart and press the rectangle button to maximize it (alt + click).
This is follow up to the original idea down below. We just got wider triangle before the real breakout.


Binance Coin broke up this trianglešŸ“ and I think there is chance for run to 314 and even higher. Setting BUY LIMIT order to previous range high to catchšŸŽ£ the pullback.
  • ENTRY: local high @ 300.5
  • STOPLOSS (SL): local low @ 295.7
  • TARGET (TP): height of the triangle projected from midpoint of the local range (BUY LIMIT - STOPLOSS) @ 314.5
  • REWARD RISK RATIO (RRR): 2.9
  • INVALIDATION: when SL level hit


Check my other stuff in related ideas.

Please boostšŸš€, commentšŸ—£ļø, follow meāœ’ļø, enjoyšŸ“ŗ!

āš ļøDisclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.

Transaction en cours

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Order filled āœ”ļø
As predicted price dropped to the breakout level and bounced. Nice...

Trade fermĆ©e: ordre dā€™arrĆŖt atteint

ā‹…
Stoploss hit šŸ›‘

Price got below both triangle edges, not looking good. Breaking the orange level would be even more bearish...
Commentaires
MBM_Crypto
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Good setup!
CoffeeChillTrader
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Buy Limit reached āœ“
Solldy
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As always, a great technical analysis and qualitative description. Thank you for that!
CoffeeChillTrader
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On what price should I buy now(late)?
bizmark
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@TheDReysSQ86, I wouldn't chase it. BUY LIMIT @ 300.5 seems like the best solution...
CoffeeChillTrader
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@bizmark Is it good to set Buy limit at 300.5 now?
bizmark
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@TheDReysSQ86, absolutely. Price tends to test the breakout level quite often. But it can also go straight to the target...
CoffeeChillTrader
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@bizmark Makes sense, thanks for the advice
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