ARB Bulls are cooking, Is ARB Ready for $2 move?ARB Trading is currently trading within a rectangle range with a price range of $1.1 up to $1.6 on the chart. This pattern suggests a potential bullish continuation pattern, indicating that the current pause is temporary and an upward movement may be imminent.
However, it is important to consider the possibility of a bearish reaction to the top of the box, which may create breakout pressure. Therefore, caution should be exercised as the price approaches this area, and profits should be protected by moving the stop loss up to breakeven or by using a trailing stop loss.
If the bulls succeed in breaking out, the upward move will most likely continue. However, it is important to remain open-minded, as anything can happen at any time.
👉 ASSET: ARB(ARB/USDT)
👉 ACTION: BUY
👉 1st ENTRY PRICE: $1.1979
👉 STOP LOSS: $1.09
👉 1st TAKE PROFIT: $1.6
2nd TAKE PROFIT: $2.17
💰 RISK MANAGEMENT: I strongly recommend the use of stop loss, you can use the $1.09 to limit potential losses in case the trade goes against us as ranges are unpredictable. We also suggest taking profits as price approach $1.6 to lock in gains. before hitting TA at HKEX:2 range incase the bears get weak on reaction to the box Support
🚨 DISCLAIMER: This is not financial advice. Please do your own research before making any trades. We are not responsible for any losses that may occur from following this trade signal.
