Short

Tellor Trade Successfully Closed — Signal Indicates More Downsid

Just yesterday, I posted a trade setup to short on the 4H chart. With today's market dip we reached the profit target easily.

However, the dip flashed another bearish signal for Tellor, indicating even more downside potential. Here are the details 👇

1️⃣ Trade Signal
Tellor flashed a bearish Parabolic Trader signal on the 4H chart. The signal combines indicators such as the EMA200, PSAR, ADX, and MACD.

2️⃣ Reliability
Based on backtests, the signal shows solid reliability on the 4H chart. In terms of TRB and based on 13 signals, it has a 77% probability of achieving 5% gains.

3️⃣ Profit Potential
The profit target is calculated at 8% and aligns with the TRB's resistance at $82. However, based on the backtest data, it might be reasonable to use two profit targets.

4️⃣ What about the chart?
Tellor's 4H chart looks mostly bearish and, therefore, supports the signal. The token fell below the reversal trendline, which has served as a support area for several days.

ben_walther

I'm Ben. Crypto lover, trader, and coder.

Join my free newsletter for insights and the hottest trade setups every weekday!
newsletter.bencrypto23.com

🔥 For exclusive content: newsletter.bencrypto23.com/exclusive

Also on:

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.

ben_walther

Also on: