NEO/USDT 12h (Binance Futures) Big ascending channel breakdown

Neo is looking for further retracement, I expect it to continue falling inside that smaller channel.

Current Price= 18.818
Sell Entry= 18.971 - 19.791
Take Profit= 17.477 | 15.481 | 13.716
Stop Loss= 20.910

Risk/Reward= 1:1.25 | 1:2.55 | 1:3.71
Expected Profit= +19.64% | +40.24% | 58.46%
Possible Loss= -15.78%

Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 2x
Estimated Gain-time= 720h

İşlem aktif:

All entries filled.
It is back inside the big channel and trying to break out the small one.
To be honest, this doesn't look that good but since it's facing resistance zone and we are using low leverage, I'll stick to it!
A move down from Bitcoin would help but we'd rather switch to a long on a retest if breaks up.

Yorum:

Got rejected on the resistance so far

You may reduce your position in small loss here if you averaged your entry but entered too big.

İşlem kapandı: hedefe ulaştı:

TP1 with +9.60% from average entry

I moved first target in profit to secure the trade!

İşlem kapandı: hedefe ulaştı:

TP2 with +20% profit from average entry using 2x only

I just moved it since original first target would have been reached now

İşlem kapandı: hedefe ulaştı:

TP3 with +28% (2x) from average entry

I moved last target to fully close that trade.
We could see more downtrend but I prefer to take profit now!