Analysis of ARUSDT Instrument’s Trading Prospects
Key Points
- The ARUSDT instrument is showing high volume spikes and a pattern of higher highs (HHs) and higher lows (HLs), suggesting strength in the current upward trend.
- No divergence is being observed, indicating an absence of significant internal weaknesses in the ongoing market direction that might hinder it from hitting take profit (TP1 and TP2) levels.
- The stipulated trading plan entails placing a stop loss (SL) at the previous HL, with instant buy entries at the current market price (CMP).
- Take profit levels are set at TP1 and TP2, offering risk-to-reward ratios of 1:1 and 1:2 respectively.
- If TP1 is hit, traders are advised to move their stop losses to break-even for the TP2 position, thereby mitigating exposure to risk.
Takeaway Analysis
The outlined ARUSDT trading strategy presents a calculated approach to extract profits from the escalating trend using a rational stop loss and take profit strategy. As per the existing indicators and patterns, the prospects appear promising for attaining the specified targets. Yet, it is crucial for investors to understand that cryptocurrency markets are notoriously volatile, and while indications seem favorable, there’s no definitive certainty in the trading world. Consequently, apply caution and manage risks sensibly.
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Original article: https://www.tradingview.com/chart/ARUSDT.P/35RyDBGH-ARUSDT-1H-TF-Bullish-Dow-Series-HHs-and-HLs/
