BLZ │ SHORT │ 06.11.2023

BLZUSDT.P

Comment
Throughout the day yesterday, the instrument experienced a significant upward pull, but towards the end of the day, it was once again pulled down. This was followed by consolidation right before a key level, and it looked quite promising. We didn't observe the expected reaction to a sharp decline, which usually triggers a correction. On the contrary, what we can see is a clearly defined presence of sellers, as the price almost touched the level twice, and it seems like there is no one actively defending this level. Instead, the price gradually moves lower within a local consolidation, indicating that sellers are gaining the upper hand.

Signals for level breakout

• bar/candles closure near the level;
  
• close retest of the level;
  
• accumulation of energy for level breakout;
  
• consolidation near the level;
  
• there is no reaction to a strong instrument movement;
  
• the instrument is not allowed to increase in price;
  
• there is a reserve of calculated ATR;
  

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

1. Open: 0.2735526;
   
2. Stop loss: 0.2761894;
   
3. Take profit:0.2656422 / 0.2630054 / 0.2603686;
   
   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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Trade closed: target reached:

Take profit: 0.2656422✅/ 0.2630054✅/ 0.2603686❌.