Everyone, I'm planning to open a large long position on
$ARX .
Take profit: 0.2167
Stop loss: 0.186961 👇
You may be wondering why I'm going long at this level.
The latest 15-minute candle closed at 0.1936. The 20-day range is 0.1812 to 0.2877, and the current price is only at the 11.6th percentile.
Honestly, it's down 15.35% over the past seven days, with the price sitting near the bottom of the range. I'm not going to guess when it'll turn around.
With average daily volatility at 15.47, both the take-profit and stop-loss for this trade are within that range—not one of them is set outside it. That's discipline.
The take-profit at 0.2167 is 11.93% above the current price, and the stop-loss at 0.186961 is 3.43% below it. A wider target and a tighter stop—just right.
The risk-reward ratio for this trade is about 3.48.
The stop-loss is set close to the low of the past six hours, with an extra 0.5% buffer—like setting a pot near the fire, but just far enough away that it won't burn you.
I chose this level because both the liquidity and the range look the cleanest.
$BNB and
$TRX have also been watching these past few days, but those two levels haven't settled into place yet.
A dip only counts if there's buying support. If it breaks through, I won't stubbornly hold on.
I'm willing to take a chance at this level and lock in what I've got first.
Do you think this setup makes sense? Let me know in the comments.
#ARX #BNB #cryptocurrency
The above is a record of my personal trading system and observations of the data. It does not constitute investment advice.