UNFI │ LONG │ 07.11.2023

UNFIUSDT.P

Comment
There are several drawbacks in this situation, which I've listed. However, the strong signals for me are that the instrument is outperforming the market, going against BTC. Additionally, there was a level touch, a false breakout, and the instrument is not undergoing a correction, even though it should.

Signals for level breakout

• close retest of the level;
  
• the instrument gradually approaches the level;
  
• accumulation of energy for level breakout;
  
• decrease in trading volumes before the level;
  
• a clear zone beyond the level;
  
• there is no reaction to a strong instrument movement;
  
• no response to a false level breakout;
  
• there is a reserve of technical ATR;
  
• the instrument is stronger than the market
  

Signals against breaking the level

• there is little ATR remaining;
  
• no consolidation before the level;
  
• quick approach to the level;
  

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

1. Open: 11.2512040;
   
2. Stop loss: 11.0701840;
   
3. Take profit: 11.794264/ 11.975284 / 12.156304;
   
   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.
   
   Follow me and receive high-quality cryptocurrency market analysis!

Trade closed: target reached:

Take profit: 11.794264 ✅ / 11.975284 ✅ / 12.156304✅