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Short

FRONT │ 12.10.2023

By phoenix_995
Updated
BINANCE:FRONTUSDT.P

Signals for level breakout
  • close retest of the level;
  • the instrument gradually approaches the level;
  • accumulation of energy for level breakout;
  • a good approach to the level;
  • consolidation near the level;
  • decrease in trading volumes before the level;
  • a clear zone beyond the level;
  • there is a reserve of technical ATR;


Trade Parameters
  1. Open: 0.28745;
    1. Stop loss: 0.29019;
      1. Take profit:
      • 0.27923;
      • 0.27649;
      • 0.27375;
      Disclaimer
      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.
Note
I continue to wait for an entry point into the market.
Note
I continue to wait for a SHORT position, despite the fact that the instrument is moving away from the level. Yesterday, there was a false level breakout, and after such an event, the instrument should sharply return to the level, which would be an adequate reaction to the false breakout. However, we are not seeing a sharp reversal; instead, we observe a gradual increase in the instrument's price. I believe that in the coming days, the instrument will return to the level, and we can look for an entry point in the market.
Note
In this situation, there is a special aspect: the instrument is at its historical lows. I will continue to wait for a short position, and the key signal for me to open a position will be a smooth approach to the level (gradual, without sharp movements).
Note
I am still waiting for the level to be breached.
Note
Yes, I am still waiting for my entry point!
Note
Perhaps today?)
Trade active
Trade closed: target reached
YES! One of the main skills in trading is the ability to wait. Just sit and wait for your entry point without making unnecessary moves. I posted the idea back on October 12, 2023, but I didn't have my entry point and didn't open any trades. Only yesterday, a good entry point appeared, and I entered, getting one stop out. However, since I'm confident in this situation, I re-entered, and now I already have a 7-to-1 risk-reward ratio. I'm taking 15% of the position off the table and waiting for my 10-to-1 target.

We've reached all the targets I provided in the description, so I'm marking the profit-taking on this idea.

0.27923✔️
0.27649✔️
0.27375✔️
cryptoSupply and DemandSupport and Resistancetechnical_analysisVolatility
phoenix_995

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