Get started

DOTUSDT

DOT/USDT Breaking LTB After Reaction at POCBINANCE:DOTUSDTPERP DOT is breaking the long-term LTB after suffering a price reaction in the POC of a session between August and December 2020, see that this zone remained reactive for prices. But now it's easy to think like that since it already happened, however, here I'm going to leave a study done on May 11, 2022 where the 4.39 range was already plotted on my screen, waiting for a price reaction. These plotted regions were reactive, some more, some less, but if you see the price reaching a certain region and consider it important, you can operate more objectively. See how the price arriving in an area where it is interested in being traded works Let's dissect this movement, the numbers are clear possible trades in my view. See that on possible entry 1 it was a falling knife buy, few traders have the stomach for limit buys against the move, but the price level showed strong supply absorption and paid a great risk return. Next we have the possible entry, number 2, see that this is already a clearer and calmer entry for many operators, either by buying limited below the last minimum, with the reading of 3 consecutive breakout failures or the purchase with a stop order at signal bar breakout with projected movement objective. If the operator was unsure with entry number 2, he would have confirmation a few bars ahead, with an opportunity for entry number 3, with a slightly higher price and even so with a potential risk, favorable return, see that this is the entry of the late ones, it sometimes does not occur. And finally entry number 4, which can also be a position increase, this operation 4 would be the purchase of a pullback in the price RANGE in which the buying demand managed to absorb the offer, and consequently the demand should take the market to at least a test in extreme zones where the greatest supply of assets will be found. So the point here is, mark your charts here on TradingView in order to find the best zones where the price should show strength, be it buying or selling and trade in favor of the price reaction. At the moment DOT/USDT is working in an area that is not very favorable for purchases, but these are the levels that I am looking to trade Daily and 4 hours - 5.29 / 5.10 / 4.68 For those who like Fibonacci, the 5.29 and 5.00 range is also important and is confluent with the reference ranges plotted in the study. This idea intends to find relevant zones for Pullbacks in DOT/USDT in search of a purchase for a new high Swing, if these zones do not show a reaction, it is possible that the balance of forces returns in the market and the context becomes more lateral. 🚨Disclaimer: The comments above reflect solely and exclusively my opinion, this is not a recommendation to buy or sell. Just a series of published studies, so that with the community we can discuss tactics and operational techniques.
Education
by leandrosander_
Short-term trading kills your deposit (2 part)Let's explore the topic of our previous post a little more and see what other mistakes you could have avoided. As we identified in the last article, the first mistake was trading on the news. Second on the list, but not the second most important, is your trading style. Your profit depends on the trading style you follow, it's a fact. At Pennygene we are supporters of long-term trading and investments, but there is also short-term intraday trading. To understand why we are not in favor of the intraday style, let's find out what makes it so special. Almost all beginning traders come to the market with a small capital of up to $10.000. It seems to many people mistakenly, that they cannot make a large fortune without using the leverage and dozens of deals every day. Sometimes intraday traders use more volatile assets and this approach becomes very dangerous and unreliable when combined with big leverage and market bounces. So any minor correction of 5-7% can ruin your deposit, and for the cryptocurrency market, these kinds of dumps are commonplace. Newcomers to trading mistakenly think that a basic knowledge of patterns, price, and trading volumes is enough to succeed in intraday. But this is far from being true. I have repeatedly heard from traders with many years of experience that they think they have not enough knowledge for intraday. Even with a small capital, a long-term trading style can bring you stunning results. Our reports confirm this. May the big profit be with you!
Education
by pennygene
Pennant pattern - DOTUSDT Review 📚Good day everyone. Today, I'll be discussing on the pennant chart pattern. 1. DEFINITION What Is a Pennant? In technical analysis, a pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole. 2. ENTRY The entry of a pennant chart pattern is simply the breakout ( for an uptrend continuation) or the breakdown ( for a downtrend continuation). 3. TARGET ( TAKE PROFIT). The take profit levels of a pennant are the swing resistance levels (for breakout ⬆️) or the swing support levels (for a breakdown ⬇️). The target level of a pennant pattern breakout can also be identified by using the fibonacci extension tool. 4. SETUP INVALIDATION AND STOP LOSS The setup invalidation of a pennant pattern is set below the previous swing low (for a breakout ⬆️) and above the previous swing high (for a breakdown ⬇️). The stop loss can be less than or equal to the setup invalidation, but not greater. TRADE EXAMPLE I'll be using my analysis on DOTUSDT as a trade example on pennant chart patterns. The market played out as expected from my previous analysis. My buy entry ⬆️ - breakout above the pennant resistance. My targets 🎯- swing resistance levels, fibonacci extension level (1.0). My setup invalidation ❌ - breakdown below the previous swing low. My stop loss 🔴 - my setup invalidation / 2. Thank you.
Education
by Chibuike_Odoh