Both TA And FA Supporting DYDX (Top Investment)
Updated
Hello, I am Tommy. I am using Naked-chart only.
If this is your first time coming to my idea, thank you very much for taking the time to pay attention to it. My opinions are all subjective and personal. It might be right, or wrong, but there is one thing I can guarantee you will never go wrong - always set the SL for each entry before setting the TP for it.
I'm seeing a big opportunity for DYDX in both FA and TA aspects, of course, both Future and Spot Trading (but Spot is recommended)
TA:
- Day TF's MA21 is showing a strong support/resistance area (blue arrows)
- Recently, MA21 has refused to break out twice, but after each time, the falling price range of DYDX fluctuates narrower and narrower.
- If a resistance line is touched again and again with a price range after resistance declines, then there is a high chance that the price will break out of that resistance line on the next time (the further it is, the more likely it is that the price will break out)
- The daily candle is about to close now (few hours left), and the price action has started to breakout, so I can enter first at this point (this is based on experience)
- RSI is starting going up
- My first target is the MA50, where I will watch the price action for further actions
FA:
- DYDX is a token of DYDX Exchange, basically not a junk or 'trash' token
- The current marrketcap of DYDX is only 84M, a very modest number for a main token of DEX Trading (which I believe DEX Trading will be the future)
- The revenue of DYDX exchange in the last 30 days is nearly 6M$ - most of it is fees collected from traders on the exchange, which is not bad. In the past, DYDX turnover in 30 days used to be close to 100M - Ref here
- DYDX is one of the rare remaining tokens that have not been pushed after listing on Binance (also GAL)
- That's why I strongly recommend Spot Trading for DYDX. With Spot Trading, I don't set Stop-loss because I have great faith in DYDX (of course I won't all-in my entire savings lol)
> Entry: 1.26 - 1.27
> Stl: 0.93
> TP1: MA50 (Day TF)
> TP2: 1.8
> TP for Spot Trading: $9.95
If this is your first time coming to my idea, thank you very much for taking the time to pay attention to it. My opinions are all subjective and personal. It might be right, or wrong, but there is one thing I can guarantee you will never go wrong - always set the SL for each entry before setting the TP for it.
I'm seeing a big opportunity for DYDX in both FA and TA aspects, of course, both Future and Spot Trading (but Spot is recommended)
TA:
- Day TF's MA21 is showing a strong support/resistance area (blue arrows)
- Recently, MA21 has refused to break out twice, but after each time, the falling price range of DYDX fluctuates narrower and narrower.
- If a resistance line is touched again and again with a price range after resistance declines, then there is a high chance that the price will break out of that resistance line on the next time (the further it is, the more likely it is that the price will break out)
- The daily candle is about to close now (few hours left), and the price action has started to breakout, so I can enter first at this point (this is based on experience)
- RSI is starting going up
- My first target is the MA50, where I will watch the price action for further actions
FA:
- DYDX is a token of DYDX Exchange, basically not a junk or 'trash' token
- The current marrketcap of DYDX is only 84M, a very modest number for a main token of DEX Trading (which I believe DEX Trading will be the future)
- The revenue of DYDX exchange in the last 30 days is nearly 6M$ - most of it is fees collected from traders on the exchange, which is not bad. In the past, DYDX turnover in 30 days used to be close to 100M - Ref here
- DYDX is one of the rare remaining tokens that have not been pushed after listing on Binance (also GAL)
- That's why I strongly recommend Spot Trading for DYDX. With Spot Trading, I don't set Stop-loss because I have great faith in DYDX (of course I won't all-in my entire savings lol)
> Entry: 1.26 - 1.27
> Stl: 0.93
> TP1: MA50 (Day TF)
> TP2: 1.8
> TP for Spot Trading: $9.95
Trade active
It's a good start for DYDX in a bear market. A clear positive signal is that the buying volume is quite high yesterday.Trade active
Volume is huge. Good signal for us.
There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer.
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