I've got to go long ARB here but I am def keeping a tight stop. We're going long to the top of the channel. I'm in at 1.63 with a final target of 2.24 and a SL of 1.54 making the RRR 8/1.
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Prophesying the price action of markets one chart at a time.
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stewdam.us
Based on the underwhelming bounce from BTC thus far, I sold 2/3 of my BTC and left the stop tight. If I hit the stop, I will still profit from this trade.
With ARB, which was greatly oversold at the time of purchase, I was expecting much more of a bounce. We are not getting that. I sold half and raised my stop to break even on that trade so that I remain in the profit there as well.