Here is a simple low risk trade for some wanting to dabble in trading. There are several reasons I like this trade. 1) It pulled back to the 0.618 level after a 5 wave small movement and double bottomed. 2) It is starting to consolidate at the 0.618 level 3) It is not pegged to BTC does not necessarily move the same direction 4) It has market penetration and a working product 5) It's in my core holdings 6) Low risk to the downside
Pretty straight forward trade. Look for a breakout of the box to the upside either on strength or a retest of the box. This is where I will look to enter a position based on the RSI levels. Also you could add the stochastic RSI to it as well which I am playing with.
Your exit would be monitored at reentry to the box after breakout.
Simple trade setup I like it a lot!
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Added to my original DASH trade yesterday! $304 level.
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In USD as requested which is more relevant for the trade.
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update be cautious of a failure this is where we need to trade tight!
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Trade closed at $304. Do not like the market right now. 0.33% loss
Be careful Please, they are monitoring my posts as there has been a lot of trash talk, and any advisarial comments they will remove and you may be monitored. If you see a hate post or profanity I would not respond as everyone in the thread gets hit with the monitor. My articles seem to attract a lot of back talk and they are monitoring them per their rules. so please be careful and ignore them.
Thanks
CatoshiDogamoto
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@goldbug1, well it is called envy. I really enjoy and appreciate your TA and your comments... lots of things to be learned from your work. Thank you! ps: I know is easy to say and hard to do, but try to ignore the mofos, don't waste your time on them
goldbug1
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@gturcan, Thank you sir!
Echten
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I wouldn't touch DASH with a ten foot pole. It is unforseeable when this scheme is going to implode.
goldbug1
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@Echten, I'm mixed on it, but this is a trade so fundamentals are not taken into consideration. thank you for the post!
@Echten, could you please elaborate on what you are referring to when you say you wouldn't touch DASH? If possible could you provide references to something that indicates weaker fundamentals with respect to other cryptos? I did a search and couldn't find anything. Thank you in advance.
Echten
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@deonjoubert, there is a whole subreddit devoted to the shady practices of the DASH devs reddit.com/r/DashUncensored/, which was apperantly necessary, because of heavy moderation by the Dash core group. A few things that are most concerning: DASH is not decentralized, all the power lies within the hands of one guy Evan Duffield and he has the master private key to reroll the last 24hours of the blockchain. A user pointed out that "they can literally deposit Dash on an exchange, sell it, and then flip a switch invalidating the deposit under the guise of a "fix"".
Duffield and other devs also massively premined, he admits to having 256.000 coins himself. You can do the math on that. Besides the heavy moderation of criticism they have an army of shills (probably the first to buy into this ponzi) and are very good at marketing, while on the other side most of their claims of being superior to other coins cannot hold under scrutiny. For example the claim of privacy:
moneroforcash.com/monero-vs-dash-vs-zcash-vs-bitcoinmixers.php. Whatsmore the high volume seems to be caused by heavy washtrading, a user points out that "if you take the estimated circulating supply of Dash (1-3 million) and multiply by price of $320 per coin, you'll see that approximately every 5 - 7 days they are trading through the entire circulating supply of coins. This is 10-20 times faster than any other coins." I know you guys don't care for fundamental research here and just want make a quick buck, but what would you do if you used DASH as a hedge and the whole scheme collapses tomorrow?
Would you trust this guy with your money: youtube.com/watch?v=0EG2km7GAmM&feature=youtu.be&t=2834
goldbug1
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@Echten, This is very interesting especially since it is a core holding of mine. I'm floored now and can't explain how much I appreciate the info!!!
Thanks