DASHUSDTI like these kind of trades because your stops can be very tight. You can see we're hitting major overhead resistance put in on 11/13, 2/5, 3/14, 3/22 and the 3 showing currently on the chart ass well as today. Indicators show we've put in a top, with divergence, as well as a bullish flag with the top being higher than the flag pole........they usually fail. Overhead support is 395......we're at as we speak. There's actually 2 trades setting up here if you're so inclined and are nimble. The initial is a short here with a stop just over 400 due to all the divergence I explained so far. If we do break out.....a long a 400 with a stop at 387 would be the next setup. You don't see opportunities like this very often so I thought I'd point it out.
Note
You can see we did in fact break thru all the divergence, the short stop was hit but the long trade took place. A retest of the resistance we broke thru and onto higher highs would be buy points.
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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.