ARB / TetherUSLong
ARB Long
Rationale:
- Multiple Divergences: Hidden Bullish Divergence: 1D price action shows a Hidden Bullish Divergence, suggesting weakening bearish momentum and potential for a bullish reversal. Bullish Divergence: 1D MACD confirms the bullish divergence, with price making lower lows while MACD forms higher lows.
- Demand Zone: Current price action is within a previously identified Demand Zone, indicating a historical area of strong buying pressure and potential support.
- Trend Change: 1D CHOCH has recently transitioned from a downtrend to an uptrend, signaling a shift in market sentiment and increasing the probability of further upward price movement.
Entry Strategy:
This setup utilizes two potential entry points within the identified Demand Zones:
Position 1:
Entry: 0.7272
SL: 0.6450
TP: 1.2300
Position 2:
Entry: 0.7272
SL: 0.4554
TP: 1.2300
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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.
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.