$COMP/USDT 1h (Binance Futures) Descending trendline breakout
Updated
Compound is looking ready for recovery after that local break-out.
Current Price= 494.81
Buy Entry = 497.60 - 473.70
Take Profit= 567.50 | 617.90 | 688.90
Stop Loss= 430.91
Risk/Reward= 1:1.5 | 1:2.42 | 1:3.71
Expected Profit= +33.70% | +54.46% | +83.70%
Possible Loss= -22.54%
Fib. Retracement= 1 | 1.272 | 1.618
Margin Leverage= 2x
Estimated Gain-time= 3 days
Current Price= 494.81
Buy Entry = 497.60 - 473.70
Take Profit= 567.50 | 617.90 | 688.90
Stop Loss= 430.91
Risk/Reward= 1:1.5 | 1:2.42 | 1:3.71
Expected Profit= +33.70% | +54.46% | +83.70%
Possible Loss= -22.54%
Fib. Retracement= 1 | 1.272 | 1.618
Margin Leverage= 2x
Estimated Gain-time= 3 days
Trade closed: target reached
TP1 reached +30.98% (2x) and +1.5RCompound bounced nicely and hit first target here at 50MA retest!
Note
Back to entryCompound lost 50MA support and dipped back to buy zone.
You can stick with original SL but be aware that PC bot would close if 2nd entry is crossed (473.70$)
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