$AVAX/USDT 4h (#BinanceFutures) Rising wedge breakdown & retest

4 Mar 2022

Avalanche lost 100EMA support and is pulling back to it, probably before retracing down again.

Current Price= 79.44
Sell Entry= 79.54 - 82.21
Take Profit= 71.56 | 66.50 | 59.72
Stop Loss= 88.07

Risk/Reward= 1:1.29 | 1:2 | 1:2.94
Expected Profit= +23.02% | +35.54% | +52.30%
Possible Loss= -17.80%

Fib. Retracement= 0.618 | 0.883 | 1.272
Margin Leverage= 2x
Estimated Gain-time= 2 weeks

Tags: #AVAX #AVAXUSDT #AvaxNetwork #AvaLabs #PoS #SC #DApp #DeFi #BSC #Gaming $WAVAX

Websites: avax.network avalabs.org

Contracts:
#Mainnet
#BEP20 0x1ce0c2827e2ef14d5c4f29a091d735a204794041
#AVAXC 0xb31f66aa3c1e785363f0875a1b74e27b85fd66c7

4 Mar 2022

İşlem aktif

All entries filled

Avalanche is retesting the wedge resistance as planned so far, let's see if it gets rejected.

7 Mar 2022

İşlem kapandı: hedefe ulaştı

TP1 was reached with +23.02% (2x) and +1.29R

Avalanche got rejected and went down according to the plan, quite an accuracy!
Now bouncing back but lower targets remain valid, SL adjusted to highest entry (82.21$)

14 Mar 2022

İşlem kapandı: hedefe ulaştı

TP2 reached with +35.54% (2x) and +2R

Avalanche went back up retesting supply zone then resumed the retracement down.
Last target is in play, SL edited to lowest entry (79.54) to secure that trade anyway.

This shows quite well how predictable market can be, as long as you've got the right bias of course!

17 Mar 2022

İşlem elle kapatılmış

Remaining position closed with +3.28% (2x) and +0.18R

Avalanche bounced back and regained both 100EMA & 200MA, we are out for now!
If you used short targets to buy then don't forget to TP here since RSI is entering overbought territory.