$ATOM/USDT 3h (Binance Futures) Rising wedge breakdown & retest

9 lug 2021

Cosmos broke bearish locally and is likely to make new lows revisiting broken descending TL.

Current Price= 12.607
Sell Entry = 12.560 - 12.990
Take Profit= 11.668 | 10.406 | 9.593
Stop Loss= 13.785

Risk/Reward= 1:1.1 | 1:2.35 | 1:3.15
Expected Profit= +17.34% | +37.08% | +49.82%
Possible Loss= -15.82%

Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 2x
Estimated Gain-time= 10 days

9 lug 2021

Trade attivo

All entries filled

Cosmos is retesting the broken wedge, let's see if gets rejected here.

9 lug 2021

Nota

No rejection so far

Cosmos entered back the wedge but still facing supply zone so we updated SL slightly above 14$.

19 lug 2021

Trade chiuso: stop raggiunto

SL hit with -19.36% (2x) and -1.22R

Cosmos did not care about the wedge and kept pushing higher, maybe next time.

19 lug 2021

Trade chiuso: obiettivo raggiunto

TP2 would have been reached with up to +44.18% (2x)

Too sad we got Stopped hunted on Cosmos, seems like the rising wedge played out with some delay.
If you were still in manually or if you dared to re-enter, then we recommend you to take profit here!