On daily time period chart, the price action of Uniswap (UNI) is completing final leg of bullish Butterfly and soon it will be reached in potential reversal zone.
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Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of Butterfly pattern should be as below:
Potential reversal or buying zone: $2.81 to $2.43
Sell or Fibonacci projection zone: $3.10 to $3.79
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Stop Loss:
The potential reversal zone area that is up to $2.43 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 55.5% and as per the above-mentioned stop loss, the loss possibility is 13.5%.
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Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
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