Arbitrum cryptocurrency or the ARB coin was trading in a range from past few weeks. The price has recently broken down the support and currently going up for a retest.
I expect a bearish continuation.
A short can be initiated.
Entry- 1.14
Stop loss- 1.25.
But if a daily closes back above the broken support turned resistance, exit the trade. No need to wait for stop loss to hit.
Target- 0.5. However, keep booking profits as price goes down and trail your stop losses.
Let me know in the comments section if you want me to analyse any other financial instrument.
WARNING:-
ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
I expect a bearish continuation.
A short can be initiated.
Entry- 1.14
Stop loss- 1.25.
But if a daily closes back above the broken support turned resistance, exit the trade. No need to wait for stop loss to hit.
Target- 0.5. However, keep booking profits as price goes down and trail your stop losses.
Let me know in the comments section if you want me to analyse any other financial instrument.
WARNING:-
ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.