BNX 📢
The previous BNX signal worked out perfectly, providing an accurate entry point and the first take profit. If you entered the trade, congratulations—you're already in a good profit. However,
instead of the anticipated upward movement, the asset has entered a consolidation phase that resembles a triangle. Overall, this is a positive sign—triangles after a strong impulse move often act as continuation patterns. Additionally, buyers are currently exerting significantly more pressure than sellers.
This might indicate a forthcoming breakout of the triangle to the upside, potentially up to the 1.55 level, where there is a large blocking sell order. This situation might be nerve-wracking, especially considering that such patterns often break in both directions to gather liquidity before continuing in the trend. ✅
Right now, if you have closed part of your position at the first take profit, there are several possible scenarios:🔵1️⃣ Do nothing and leave the position as is. Your stop is likely set below 1.1, which is quite far from the entry point under current conditions. It might make sense to move it closer, around 1.26.
2️⃣ Close another part of the position at the current prices, for example, another third. In this case, you should also consider moving the stop closer to the entry point.
3️⃣ Exit the position at the current prices, closing the remaining shares in profit.
In the first two scenarios, if you decide to keep the position, it makes sense to add another target and set your goals at the following levels: 1.634, 1.743, and 1.842.