Trade setup for RENUSDT.
REN broke out of the supply line today and is now retesting the ATH from September '20
Wait for entry once we get a bounce from that area. Breaking this high to the downside at $0.59 area will probably take price down to $0.50 and even all the way down to $0.35 which is a 88% retracement.
However this retracement could end up being a bullish bat, which will be a nice entry point. I will be following price action on REN and update if this plays out.
Entry : $0.612
Stop loss : $0.559
TP1 : $0.77
TP2 : $0.86
TP3 : $1.1
Risk warning, volatility is rising so make sure you put in a stop loss.
No FA DYOR
REN broke out of the supply line today and is now retesting the ATH from September '20
Wait for entry once we get a bounce from that area. Breaking this high to the downside at $0.59 area will probably take price down to $0.50 and even all the way down to $0.35 which is a 88% retracement.
However this retracement could end up being a bullish bat, which will be a nice entry point. I will be following price action on REN and update if this plays out.
Entry : $0.612
Stop loss : $0.559
TP1 : $0.77
TP2 : $0.86
TP3 : $1.1
Risk warning, volatility is rising so make sure you put in a stop loss.
No FA DYOR
Trade active
Stop loss move to $0.49. Profit take targets stay the same.