ARB is currently knocking at resistance levels. A pullback towards 0.83-0.78 area is possible but not necessary.
In either case, as long as 0.75 level is not lost, this one looks to be heading towards 1.25-1.30 area.
In either case, as long as 0.75 level is not lost, this one looks to be heading towards 1.25-1.30 area.
Trade active
Target met. Now we have a couple of options.One of the scenarios would be to form a handle for this huge cup to consolidate and accumulate once more. Will draw the handle once it forms for the new targets up there. Also its good to mention that if the handle completes, this would also form a huge inverse H&S pattern with a price target around $2
Only thing to do here is take profit and wait for the new price action. I will try to remember to post an update once the patterns complete
Cheers
Note
0.79 / 0.83 / 0.95 /1.25 are the respective s&r levels to watchout for.A potential trade would be longing here with a stop below 0.79 for ex.
Happy new year
Trade closed manually
new buy area is around $0.60 for the best R&R
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.