$DOTECO/USDT 90m (Binance Futures) Descending channel breakout

29 gen 2021

DotEco (Polkadot Ecosystem) was launched 10 days ago, looking after that bullish break and retest.

Current Price= 1061.7
Buy Entry= 1054.8 - 1040.8
Take Profit= 1097.4 | 1143.0 | 1204.1
Stop Loss= 1251.68

Risk/Reward= 1:1.2 | 1:2.29 | 1:3.77
Expected Profit= +14.19% | +27.27% | +44.76%
Possible Loss= -11.88%

Fib. Retracement= 0.786 | 1 | 1.272
Margin Leverage= 3x
Estimated Gain-time= 120h

29 gen 2021

Trade attivo

All entries filled

DotEco dipped as expected, now time to be patient and wait for the possible bounce!

29 gen 2021

Nota

More info about DotEco Composite Index:

The underlying asset of the DOTECO Composite Index perpetual contract consists of a basket of Polkadot Ecosystem protocol tokens listed on Binance.
The index price is calculated using weighted averages of real-time prices of the tokens on Binance and is denominated in USDT.

As of today, KSM (Kusama) is leading the pack with around 55% dominance, then comes $REEF (ReefFinance) ~22.3%, AKRO (Akropolis) ~13.5% and $DOCK (Dock) ~9.2%!
binance.com/en/support/faq/619b8baa275a43f69a6c02eb16df07b3

You can see updated weights here on "Component Info" tab under the chart:
binance.com/en/futures/funding-history/3?contract=DOTECOUSDT

30 gen 2021

Trade chiuso: obiettivo raggiunto

TP1 with +14.19% and 1.2R

DotEco pumped as planned, taking some profit here and waiting for higher targets!

2 feb 2021

Trade chiuso: obiettivo raggiunto

TP2 with +27.27% (3x) and 2.29R

DotEco dipped back to entry and even lower but then bounced back before SL.
PC bot closed early but very nice profit manually and still one target to go!

3 feb 2021

Trade chiuso: obiettivo raggiunto

TP3 with +44.76% (3x) and 3.77R

Same for DotEco, all targets reached and even more, very nice profit!