breakout strategy on $AR (Arweave) on the 1-hour time frame, here's how to structure the trade:
đ Strategy: Wait for a breakout at key levels.
Entry: Look for an entry at the blue line or after a retest, which represents a confirmed breakout above a resistance level.Target: The green line will represent your first target price based on expected movement post-breakout.
đ Probable Take Profit (TP) Levels:
TP1: $4.85 (short-term resistance after breakout)TP2: $5.12 (intermediate resistance, aligning with the breakout trend)TP3: $5.40 (major resistance, marking potential exhaustion of the breakout move)
Make sure to watch for key confirmation signals, like increased volume and a bullish RSI or Stochastic indicator, as these can strengthen the breakout and reduce the chance of a false breakout. Breakout strategies can be effective, but always manage risks with a stop-loss below the breakout pointâ(Altrady)â(Altrady).
This should give you a solid framework to trade $AR using a breakout strategy!
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