TRB │ LOBG │ 07.11.2023

7 Nov 2023

TRBUSDT.P

Comment
On the 5-minute time frame, the instrument is clearly testing a level, confirming its presence. Furthermore, if the buyers were weak, the price would have moved away from this level. However, what we observe is multiple touches of the level. To me, this indicates strong buying interest.

Signals for level breakout

• bar/candles closure near the level;
  
• bar/candles closure near its high/low;
  
• close retest of the level;
  
• the instrument gradually approaches the level;
  
• accumulation of energy for level breakout;
  
• consolidation near the level;
  
• a clear zone beyond the level;
  
• there is no reaction to a strong instrument movement;
  
• no response to a false level breakout;
  
• the instrument is not allowed to decrease in price;
  
• there is a reserve of calculated ATR;
  
• there is a reserve of technical ATR;
  
• the instrument is not following the market.
  

Order parameters (risk-to-reward ratio = 1 to 3/4/5)

1. Open: 128.294308;
   
   1. Stop loss: 126.322768;
      
      1. Take profit: 134.208928/ 136.180468 / 138.152008;
         
      Disclaimer
      Every trader should make their trading decisions based on their own analysis and circumstances. The signals in this channel should be considered as an additional tool for your own consideration.
      
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8 Nov 2023

Dagangan ditutup: hentian tercapai

Got stopped out.
The level got wiped.
I won't consider going long as I don't see a clear entry point in the market.