Market Overview for Tether/Argentine Peso (USDTARS)

Summary
• Price action remains range-bound with key resistance at 1479.0.
• Volatility fluctuated with high-volume clusters during the early trading hours.
• RSI and MACD signals show mixed momentum but no strong overbought or oversold readings.

Tether/Argentine Peso (USDTARS) opened at 1470.6 at 12:00 ET − 1 and reached a high of 1483.7 before closing at 1480.9 at 12:00 ET on 2025-11-09. The 24-hour trading range was between 1470.5 and 1483.7, with a total volume of 518,493.0 and a turnover (notional value) of approximately 775.5M ARS.

Structure & Formations

The price showed a series of bullish and bearish consolidations during the session, with notable resistance at 1479.0 and 1483.7. A bullish breakout above 1479.0 occurred mid-session but failed to hold, suggesting the level could be a psychological barrier. A large bearish candle at 18:15 ET marked a pullback from 1479.7 to 1477.0, forming a potential bearish engulfing pattern.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are closely aligned in a sideways pattern, indicating no strong directional bias. Daily data is not provided, but the 50/100/200 EMA lines would be critical for longer-term positioning.

MACD & RSI

MACD remained in a positive but narrowing range, suggesting fading bullish momentum. RSI oscillated between 50 and 60 for most of the session, indicating a balanced market without overbought or oversold conditions. A short-lived spike near 1483.7 pushed RSI slightly above 60, but it quickly retraced, suggesting limited conviction in the move.

Bollinger Bands

Price action expanded within the Bollinger Bands during the mid to late session, with the upper band fluctuating around 1480.0–1484.0. The most significant expansion occurred between 04:00–05:00 ET, during which price touched the upper band and pulled back.

Volume & Turnover

Volume spiked to over 27,000 during key reversal points, particularly between 18:15–19:45 ET. Turnover closely mirrored volume, confirming the price movements. However, divergence between price and volume was observed during the final 2 hours of the session, indicating potential exhaustion.

Fibonacci Retracements

Applying Fibonacci retracement to the swing from 1470.5 to 1483.7, key levels include 1478.7 (38.2%) and 1475.9 (61.8%). Price briefly tested the 61.8% level before bouncing back, suggesting it could offer support in the next 24 hours.

Backtest Hypothesis

To run an accurate back-test I just need a little more detail:
1. Which specific stock (ticker) should we analyse?
2. How would you like the “sell at resistance 1479.0” rule to work?
• Do we open (enter) a short position every time the price first touches or rises above 1479, then close the position at some later signal (e.g., next day’s close, a fixed % stop, or when price falls to a support level)?
• Or is the idea simply to sell (close a long position) once the price reaches ≥ 1479?
3. Any risk-management rules to include (e.g., stop-loss %, take-profit %, maximum holding days)?
4. Confirm the back-test period: from 2022-01-01 through today (2025-11-09).
Once I have these details I can pull the relevant price data, generate the trade signals and run the back-test.