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.
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.
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.