$ARB · Spot market, outlook for the next few weeks
Chasing the price now would be a bit hasty. It only broke below the previous range at the close, so I’d wait for it to reclaim lost ground before considering a long. The price has moved back into the range, but an intraday move back in and a firm close above the boundary are two different things.
To judge whether it can recover over the next few weeks, I’ll first watch to see whether it can hold the lower end of the range at the close. I’ll consider going long once the recovery is established. If it falls back below the range, I’ll keep waiting—there’s no need to rush to find an entry.
Here’s what I’ll wait for: a daily close above 0.2555, followed by a pullback that holds, before considering a long. The breakout candle’s volume ratio also needs to be above 1.2.
If I can enter near 0.2555, 0.230193 is the stop-loss level and 0.306114 is the target.
The candle that just closed is still below the range, so I’ll wait for a recovery first. The conditions for going long haven’t been met yet.
Chasing the price now would be a bit hasty. It only broke below the previous range at the close, so I’d wait for it to reclaim lost ground before considering a long. The price has moved back into the range, but an intraday move back in and a firm close above the boundary are two different things.
To judge whether it can recover over the next few weeks, I’ll first watch to see whether it can hold the lower end of the range at the close. I’ll consider going long once the recovery is established. If it falls back below the range, I’ll keep waiting—there’s no need to rush to find an entry.
Here’s what I’ll wait for: a daily close above 0.2555, followed by a pullback that holds, before considering a long. The breakout candle’s volume ratio also needs to be above 1.2.
If I can enter near 0.2555, 0.230193 is the stop-loss level and 0.306114 is the target.
The candle that just closed is still below the range, so I’ll wait for a recovery first. The conditions for going long haven’t been met yet.