DASHUSD
Consolidating recent gains in a pennant: not as trustworthy as
a flag, though. The recent low was 609, exactly double the
price we paid at 305 some 15 days or so ago. Are you watching, Bitcoin?
Two strikes on the lower line shows 'hot', still. Now it has to
find enough buyers to beat the upper line of the pennant...
If it can mange this we can follow/add but because it's a
pennant am wondering how good the break will be if we see
it now. Folow the break but stick a stop under 624 in case it
fails...want to see a couple of big green candles emerge on
exit, therwise beware the break..(look at ETHUSD failed
break last time to study a failure...if you can learn to spot
thse in real time your whole outlook and trading record will
improve...not easy sometimes, buy others, it is!)
Be lucky. And alert.
Consolidating recent gains in a pennant: not as trustworthy as
a flag, though. The recent low was 609, exactly double the
price we paid at 305 some 15 days or so ago. Are you watching, Bitcoin?
Two strikes on the lower line shows 'hot', still. Now it has to
find enough buyers to beat the upper line of the pennant...
If it can mange this we can follow/add but because it's a
pennant am wondering how good the break will be if we see
it now. Folow the break but stick a stop under 624 in case it
fails...want to see a couple of big green candles emerge on
exit, therwise beware the break..(look at ETHUSD failed
break last time to study a failure...if you can learn to spot
thse in real time your whole outlook and trading record will
improve...not easy sometimes, buy others, it is!)
Be lucky. And alert.
Comment:
Dash Update as feared this break is feeble, Stick a stop under 627 or just close for rough break even. It may be Ok yet, but doesn't have that feel, does it? study this now, try to learn as much as possible about the a nature of the break.
Comment:
DASHUSD
Strugggling a bit with the pattern emerging on Dash right now...damn pennants.
Think it's a flag forming but not exactly perfect. It can still have another attempt and 2 strikes on the lower line is still positive (so long as there is not another one now, obviously) nearterm suport at 628 and whilst that holds this is still good, just not quite ready to yet. So be ready to have a second attempt on the next break above the line on chart...again, need to see green candles emerge...now you have a study to check over here to see what a failed break looks like. that's good for your better understanding, hopefully useful for the future. Remember we never trade on hope...was easy to 'HOPE' that last break out would be good. The chart told you otherwise. Just do what the chart tells you. You know that. Hope has it's place .But not in markets. you KNOW that anyay by now.
Strugggling a bit with the pattern emerging on Dash right now...damn pennants.
Think it's a flag forming but not exactly perfect. It can still have another attempt and 2 strikes on the lower line is still positive (so long as there is not another one now, obviously) nearterm suport at 628 and whilst that holds this is still good, just not quite ready to yet. So be ready to have a second attempt on the next break above the line on chart...again, need to see green candles emerge...now you have a study to check over here to see what a failed break looks like. that's good for your better understanding, hopefully useful for the future. Remember we never trade on hope...was easy to 'HOPE' that last break out would be good. The chart told you otherwise. Just do what the chart tells you. You know that. Hope has it's place .But not in markets. you KNOW that anyay by now.
Comment:
DashUSd
Dash dreams on hold for now. Someone is selling it hard off the lines. Pin bar of rejection....aren't you glad you accepted what the chart was saying and didn't cling to forlorn hope instead? If so we learned something valuable: do what the chart tells you. That isn't complicated once you accept the chart is the master, not you! As with ETHUSD you can sell failed breaks if you want, taking scalps for the next few hours or so after you''ve tumbled to the fact it's a failure. Dashed dreams. But better be flat and ready to pounce than stuck in a crappy break all day. Agreed?
We will have a better chance at this soon. Long pull holders from 305 can raise their stops now to 599, so we just under double if this goes pear shaped later. If this does break 600 we have an almighty shorting oportunity on our hands (real level is 609, but the stop can be 599 for now)
Dash dreams on hold for now. Someone is selling it hard off the lines. Pin bar of rejection....aren't you glad you accepted what the chart was saying and didn't cling to forlorn hope instead? If so we learned something valuable: do what the chart tells you. That isn't complicated once you accept the chart is the master, not you! As with ETHUSD you can sell failed breaks if you want, taking scalps for the next few hours or so after you''ve tumbled to the fact it's a failure. Dashed dreams. But better be flat and ready to pounce than stuck in a crappy break all day. Agreed?
We will have a better chance at this soon. Long pull holders from 305 can raise their stops now to 599, so we just under double if this goes pear shaped later. If this does break 600 we have an almighty shorting oportunity on our hands (real level is 609, but the stop can be 599 for now)