ARB - Clear Triangle Breakout - Long Trade

10 Mar 2024

#ARB/USDT #Analysis
Description
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+ ARB has unmistakably formed a symmetric triangle pattern and has broken out from it.
+ Currently, the price is retracing back to its support level.
+ I perceive this as a favorable opportunity to enter a long trade with an appropriate stop loss in place.
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VectorAlgo Trade Details
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Entry Price: 2.063
Stop Loss: 1.704
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Target 1: 2.2365
Target 2: 2.5830
Target 3: 3.17
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Timeframe: 4H
Risk: 1-2% of trading capital
Leverage: 5-10x
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Enhance, Trade, Grow
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Best Regards,
VectorAlgo

13 Mar 2024

Not

Target 1 reached. Enjoy the profits

16 Mar 2024

Not

If you have entered the trade with low leverage (less than 5x) then you can move the SL to 1.56
we can expect some more correction in pricing