COMP/USDT 8h (Binance Fut.) Descending channel breakout & retest

Oct 28, 2020

#Compound is pulling back to give us entry after that clear breakout of parallel channel.
I believe this is a new opportunity to long it before a possible bull run!

Current Price= 107.06
Buy Entry= 107.03 - 102.23
Take Profit= 116.77 | 123.26 | 133.20
Stop Loss= 96.51

Risk/Reward= 1:1.5 | 1:2.29 | 1:3.52
Expected Profit= +23.20% | +35.62% | +54.62%
Possible Loss= -15.52%

Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 480h

Oct 30, 2020

Note

Original Stop would have been hit

#Compound made a first move up of +7% then dumped hard, it is quite unpredictable lately...
But looking at the satoshi pair, it still looks like a pullback so I adjusted SL lower with R/R= 1:1 for TP1.
You can close the trade now if you don't feel like taking that risk, or on the contrary add to your position if you want to average entry, it's up to you!

Oct 30, 2020

Trade closed: stop reached

Stopped with -23.20% (2x)

#Compound dumped even more down to midline channel, that's too bad.
I'm still expecting a move up soon but too risky to make another call right now!
If keeps down trending, 85$ would be a juicy entry, I'll wait for it.