DASHLong
Rotation into DASH + Break out Targets
BTC shot to 8000 USD,
then BCH rose 300% in a few days,
now the rotation has funds flowing into DASH.
Hopefully, like me, you've been watching the pattern build and the pressure mount over the last few months.
We had a great bull run up July to September and since then we've declined in a very orderly way.
Orderly pullback = healthy behavior. When something acts healthy, then we have a better chance at forecasting the
break out.
We had a classic 1,2,3 break out pattern. The 1st high sees sellers taking profits and a mini crash. Buyers buy
back in until we almost reach those highs, but sellers take profits once again. But finally, we can see that in
September through November, that price wasn't crashing, just orderly pulling back. We wait for the break out
of the descending trend line that connects the highs. When that happens, we buy.
If you were in this move, then you see a 100% return. Incredible.
Our target is the 161.8% Fibonacci retracement of the August to November decline. That brings us to 530-550.
We will take profits there and re-evaluate the price action. If price consolidates around that level, then we can get
in for another move higher. But we don't want to waste our time for a few pennies. We just want to capture the meat
of the move, and that is what we have done. Congrats!
--
!! PM me with chart requests !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections, measured moves, support and resistance.
Successful trading means proper risk sizing and trading small so you can stay in the game.
then BCH rose 300% in a few days,
now the rotation has funds flowing into DASH.
Hopefully, like me, you've been watching the pattern build and the pressure mount over the last few months.
We had a great bull run up July to September and since then we've declined in a very orderly way.
Orderly pullback = healthy behavior. When something acts healthy, then we have a better chance at forecasting the
break out.
We had a classic 1,2,3 break out pattern. The 1st high sees sellers taking profits and a mini crash. Buyers buy
back in until we almost reach those highs, but sellers take profits once again. But finally, we can see that in
September through November, that price wasn't crashing, just orderly pulling back. We wait for the break out
of the descending trend line that connects the highs. When that happens, we buy.
If you were in this move, then you see a 100% return. Incredible.
Our target is the 161.8% Fibonacci retracement of the August to November decline. That brings us to 530-550.
We will take profits there and re-evaluate the price action. If price consolidates around that level, then we can get
in for another move higher. But we don't want to waste our time for a few pennies. We just want to capture the meat
of the move, and that is what we have done. Congrats!
--
!! PM me with chart requests !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections, measured moves, support and resistance.
Successful trading means proper risk sizing and trading small so you can stay in the game.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.