TradingOn

$ADA/USDT 4h (Binance Futures) Rising wedge breakdown

Short
TradingOn Updated   
BINANCE:ADAUSDT.P   Cardano / TetherUS PERPETUAL CONTRACT
Cardano did a nasty bearish move and is probably going for a deeper retracement, let's try to enter on a retest.

Current Price= 2.5853
Sell Entry = 2.7256 - 2.8366
Take Profit= 2.0803
Stop Loss= 3.0150

Risk/Reward= 1:3
Expected Profit= +50.40%
Possible Loss= -16.82%

Fib. Retracement= 0.786
Margin Leverage= 2x
Estimated Gain-time= 2 weeks
Trade closed: target reached:
TP would have been reached with up to +58.80% (2x)

Cardano was no exception and instantly puked, entry was missed but nice profit if you jumped in.
Waiting for a true retest of the wedge or 100EMA now to short with the PC bot!


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.