ARK │ LONG │ 31.10.2023
Updated
ARKUSDT.P Comment
The instrument is heading towards breaking its all-time highs. It's clear that it's not being pushed down. Although there are plenty of signals against taking a LONG position, they are offset by the lack of obvious restraining factors that would hinder the price from rising.
The only thing I'll personally wait for before opening a trade is consolidation. I want to see more accumulation before the level is breached.
Signals for level breakout
- close retest of the level;
- a clear zone beyond the level;
- there is no reaction to a strong instrument movement;
- the instrument is not allowed to decrease in price;
- there is a reserve of technical ATR;
- the instrument is stronger than the market
Signals against breaking the level
- there is little ATR remaining;
- no consolidation before the level;
- quick approach to the level;
Order parameters (risk-to-reward ratio = 1 to 3)
- Open: 1.1117106;
- Stop loss: 1.1031576;
- Take profit:1.1373696;
Every trader should make their trading decisions based on their own analysis and circumstances. The signals in this channel should be considered as an additional tool for your own consideration.
Follow me and receive high-quality cryptocurrency market analysis! - Take profit:1.1373696;
- Stop loss: 1.1031576;
Trade closed: stop reached
I received one stop loss on 01.11.23, and the next day, I wasn't at the computer. I'm canceling the entry because the level shifted to 1.1529. If, in my opinion, the instrument is going up, I will create a new idea.Note
Unfortunately, due to the fact that I can't always be near my computer, I couldn't publish the idea in time. The instrument moved significantly upwards, just as I expected.
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