My opinion on Dash is on request, I don’t actually hold.
Measuring probability of return versus risk of loss in combination with ‘looking left’ in the charts is how I’m making money. So I'm applying the same reasoning here with Dash. Would I open a position now? No is the short answer. My reasons:
The weekly chart - the facts:
1) Last week’s candle on the above weekly chart closed under the 21-week EMA = bearish
2) MFI support trend line failed recently.
3) Price action resistance (see callout) continues to act as resistance. This resistance must break by October 19th for price action to remain inside the consolidation pattern.
The bullish:
Price action is inside a sideways consolidation pattern having corrected some 96% from the all time high. On the 3-day chart below a closer look of the consolidation tells us support is required at $61.
To trade Dash you must wait for confirmation of a breakout. Trading inside is guessing.
The 1-day chart is interesting and worth watching for the next couple of weeks. The facts:
1) RSI resistance is now broken looking for support. Something similar occurred on Ether as it floated around $230 for weeks on end.
2) RSI @ 42 - too high. If you’re looking for maximum return for minimum risk, open a position with a RSI of 30 or less.
One final observation - Price action recently enters the Gaussian strip through the green area of the band, this is nearly always a bad sign. Further downside should be expected. I've circled in orange the last time we had price action enter the strip.
Measuring probability of return versus risk of loss in combination with ‘looking left’ in the charts is how I’m making money. So I'm applying the same reasoning here with Dash. Would I open a position now? No is the short answer. My reasons:
The weekly chart - the facts:
1) Last week’s candle on the above weekly chart closed under the 21-week EMA = bearish
2) MFI support trend line failed recently.
3) Price action resistance (see callout) continues to act as resistance. This resistance must break by October 19th for price action to remain inside the consolidation pattern.
The bullish:
Price action is inside a sideways consolidation pattern having corrected some 96% from the all time high. On the 3-day chart below a closer look of the consolidation tells us support is required at $61.
To trade Dash you must wait for confirmation of a breakout. Trading inside is guessing.
The 1-day chart is interesting and worth watching for the next couple of weeks. The facts:
1) RSI resistance is now broken looking for support. Something similar occurred on Ether as it floated around $230 for weeks on end.
2) RSI @ 42 - too high. If you’re looking for maximum return for minimum risk, open a position with a RSI of 30 or less.
One final observation - Price action recently enters the Gaussian strip through the green area of the band, this is nearly always a bad sign. Further downside should be expected. I've circled in orange the last time we had price action enter the strip.
Komentarz:
Candle closed under the 50-week. The rest of the month will be hell for the bulls.
This is why we don't trade emotions.
This is why we don't trade emotions.
Komentarz:
Should $66 fail to act as support, look out for $52 mark, the next support.
Komentarz:
Price action resistance is broken, now looking for support.
Komentarz:
Rejection from $81 = bull run not yet.
Komentarz:
Dash on the move ever since Palm Beach Confidential mentioned it last night as one of their buys.
$86 is the level to watch (orange line) this would be a significant indication of an exciting uptrend (look left!).
$86 is the level to watch (orange line) this would be a significant indication of an exciting uptrend (look left!).
Komentarz:
Now my opinion on Dash is changing, resistance broken though - that was a battle. Now looking for support.
Zlecenie zamknięto ręcznie:
The wait is over. I mentioned above $73, must break. We did. The threat of a bearish outlook has now past. Good to go long.
And here's why. The 21-week (yellow) crosses the 50-week (green) moving average. Not financial advice, I'm not your advisor at all.. but anything bought from $86 is a great buy.
2021 will be a great year for Dash. Still I think there's better opportunities out there.
And here's why. The 21-week (yellow) crosses the 50-week (green) moving average. Not financial advice, I'm not your advisor at all.. but anything bought from $86 is a great buy.
2021 will be a great year for Dash. Still I think there's better opportunities out there.
BTC
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Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Price action must close above or at $73 by the weekly candle close (tomorrow morning)