Technical analysis by rohitkukreja about Symbol ARB: Sell recommendation (5/10/2023)

ARBITRUM (ARB) CRYPTOCURRENCY SHORT | 50% DOWNSIDE | SWING TRADE Arbitrum cryptocurrency or the ARB coin was trading in a range from past few weeks. The price has recently broken down the support and currently going up for a retest. I expect a bearish continuation. A short can be initiated. Entry- 1.14 Stop loss- 1.25. But if a daily closes back above the broken support turned resistance, exit the trade. No need to wait for stop loss to hit. Target- 0.5. However, keep booking profits as price goes down and trail your stop losses. Let me know in the comments section if you want me to analyse any other financial instrument. WARNING:- ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.