DENTUSDT - Can Move 60% Higher ⚠️Dent on the weekly chart with a possible bullflag ! If you zoom in to the daily chart you can see a falling wedge pattern.
IF this break bull and we change the daily trend then we know that the weekly higher low is set!
Keep in mind that my last ideas about weekly charts are good for swing traders and not for scalpers or day traders.
Just want to give some perspective about where we are in the market on the higher time frames.
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DENTUSDT trade ideas
DENTUSDT🌟this alt has a great potential to shine in the bullish runs and that comes with a high ATR ratio so be ready to put a portion of your whole basket into this alt
🌟for now this alt become sideway and waiting for a motivation (it might lose some value too but don't panic its so far from our stop loss)
👉This idea has the confirmation of "advanced price action" 👍
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‼️Watch $DENT how it holds the sit movement to continue UP.Dent did a rejection holding the previous breakout line so it headed to previous support, which is trying to hold now and it's doing quite a good job. Altough we must be watching this level either if it holds or looses, to take corresponding actions.
INVERSE HEAD AND SHOULDERS PATTERN - DENT/USDT REVIEW 📚Good day everyone.
Today, I'll be discussing the inverse (inverted) head and shoulders reversal pattern.
1. DEFINITION
What is Inverse Head And Shoulders?
An inverse head and shoulders , also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of a security meets the following characteristics: the price falls to a trough and then rises; the price falls below the former trough and then rises again; finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs.
2. ENTRY
The entry (buy order) of an inverse head and shoulders pattern can be of three types:
- Market entry: current market price.
- Stop limit entry: breakout above the inverse head and shoulders neckline resistance.
- Limit entry: Retest of the right shoulder's horizontal support level.
3. TARGET (TAKE PROFIT)
The target level of your inverse head and shoulders pattern should be the key trend based fibonacci extension zone (1 - 1.272 - 1.414).
4. SETUP INVALIDATION AND STOP LOSS
The setup invalidation of this setup is a breakdown below the shoulders support level.
The stop loss can be less than or equal to the setup invalidation.
TRADE EXAMPLE
I'll be using my analysis on DENT/USDT {DENT} as a trade example on the inverse head and shoulders reversal pattern.
My entry (buy order) ⬆️: breakout above the neckline resistance.
My target 🎯: the key trend based fibonacci extension zone (1 - 1.272 - 1.414).
Setup invalidation ❌: breakdown below the shoulders support level.
Stop loss 🔴: breakdown below the shoulders support level.
The trade played out as expected, hitting my take profit and it's still pumping.
🔥 DENT Bullish ContinuationA while ago I made an analysis on the expected future price action of DENT, see below.
While the bullish move happened quicker than initially anticipated, the 0.0075 resistance mentioned in the previous analysis was almost spot-on.
At the moment we're seeing a period of consolidation for DENT, which was expected after the huge move from early August.
Assuming BTC will remain relatively bullish, I'm expecting the red area of support to hold. Next target is the green area of resistance drawn on the chart. Assuming we get there in the next two weeks, we might already be looking at new all time highs in the near future.
Happy trading!