KAVA - Retrace in bear leg / Technical double bottom at 1.5 EUR
KAVA is in a really good place for small retrace as technically we reached double bottom at ~1.5 EUR. The target is around 1.7 EUR. The SL should be around 1.47 EUR. Overall this is a very good R2R place to open long with SL of course.
Why now?
1. KAVA went down with nearly 17% and that is another indicator that a retrace should happen anytime soon.
2. KAVA has problems with liquidity which means that if you put a limit order it can get filled/sold in 1 wick around 1.7
3. BTC seems on the trendline, so don't expect immediate drop from here
Summary:
Entry - 1.5
Target - 1.7
SL - 1.47
Good luck!
Why now?
1. KAVA went down with nearly 17% and that is another indicator that a retrace should happen anytime soon.
2. KAVA has problems with liquidity which means that if you put a limit order it can get filled/sold in 1 wick around 1.7
3. BTC seems on the trendline, so don't expect immediate drop from here
Summary:
Entry - 1.5
Target - 1.7
SL - 1.47
Good luck!
Comment:
Trade is active and it is doing quite well. 1.6 EUR is the first resistance zone and if this is being taken out then 1.7 is near.
Trade closed: target reached:
Last evening the target was reached t 1.7+
For me personally the trade was with 14% profit.
Now as KAVA is looking good, I will be looking for another opportunity in short term.
I would like to see a good trendline to trade or some range that can be predicted with SL ofc :)
Last evening the target was reached t 1.7+
For me personally the trade was with 14% profit.
Now as KAVA is looking good, I will be looking for another opportunity in short term.
I would like to see a good trendline to trade or some range that can be predicted with SL ofc :)