Trade Setup Overview
Entry Zone (CMP): $16.80 - $16.60 (current price action suggests consolidation near these levels).
Stop Loss: $16.21 (below recent lows and key support).
Target: $17.90 (next significant resistance level).
Risk-to-Reward Ratio: 4.18
Key Levels to Watch
Entry Zone: $16.80 - $16.60. This zone is near current price action and offers a good entry point, with a favorable risk setup.
Stop Loss: $16.21, placed just below the recent low to manage downside risk.
Target: $17.90, a key resistance level, aligning with the expected short-term bullish move.
Technical Context
1️⃣ Price Action: AR/USDT is holding near the support zone of $16.80 - $16.60, which could act as a base for a short-term rally.
2️⃣ Fibonacci Retracement: The entry range aligns well with the 0.5 retracement of the previous move, strengthening the support.
Next Steps for Traders
1️⃣ Watch for Confirmation: Look for a bullish candlestick pattern or price action confirmation within the entry range before entering.
2️⃣ Manage Risk: Place your stop-loss at $16.21 to keep risk limited while targeting the $17.90 level for profit.
3️⃣ Target Execution: Consider taking partial profits as the price approaches $17.90 or use trailing stops to lock in gains.
Conclusion:
With a 4.18 R:R ratio and a defined entry range of $16.80 - $16.60, AR/USDT is setting up for a short-term bullish move toward $17.90. Keep an eye on the support at $16.21 and the key target at $17.90
What’s your view on this setup? Share your thoughts in the comments below! 👇
Disclaimer: This is not financial advice. Always conduct your own research before trading.
Entry Zone (CMP): $16.80 - $16.60 (current price action suggests consolidation near these levels).
Stop Loss: $16.21 (below recent lows and key support).
Target: $17.90 (next significant resistance level).
Risk-to-Reward Ratio: 4.18
Key Levels to Watch
Entry Zone: $16.80 - $16.60. This zone is near current price action and offers a good entry point, with a favorable risk setup.
Stop Loss: $16.21, placed just below the recent low to manage downside risk.
Target: $17.90, a key resistance level, aligning with the expected short-term bullish move.
Technical Context
1️⃣ Price Action: AR/USDT is holding near the support zone of $16.80 - $16.60, which could act as a base for a short-term rally.
2️⃣ Fibonacci Retracement: The entry range aligns well with the 0.5 retracement of the previous move, strengthening the support.
Next Steps for Traders
1️⃣ Watch for Confirmation: Look for a bullish candlestick pattern or price action confirmation within the entry range before entering.
2️⃣ Manage Risk: Place your stop-loss at $16.21 to keep risk limited while targeting the $17.90 level for profit.
3️⃣ Target Execution: Consider taking partial profits as the price approaches $17.90 or use trailing stops to lock in gains.
Conclusion:
With a 4.18 R:R ratio and a defined entry range of $16.80 - $16.60, AR/USDT is setting up for a short-term bullish move toward $17.90. Keep an eye on the support at $16.21 and the key target at $17.90
What’s your view on this setup? Share your thoughts in the comments below! 👇
Disclaimer: This is not financial advice. Always conduct your own research before trading.
Trade closed: target reached
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.