Welcome in everyone!
Today I am going to be showing a 12hr Chart on DASH. First things first, WOW, was it intense emotionally last night and this morning. DASH moved up a decent amount last night, but being the patient people we are, we figured that DASH would stamp a gravestone doji on the 12hr, and it DID.
We entered into this descending triangle on February 22nd, and we fell under it on March 22nd.
Dash then tried to pump back above it, but got rejected from the bottom of the triangle on the 23rd and 24th.
We came back up to test this area again on March 31st and are still testing this area on April 1st (by the way- this is NOT an April fools post).
As you can see, the March 31st candle CLOSED as a Textbook Gravestone Doji, showing for a trend reversal from the fake-out between $181 and the $240 range.
This is very amazing news to expect that price will eventually retrace to the $136 area, next to the 200 Day Moving Average. This is because, not only did we have a gravestone doji, but it also got rejected from the 50 Day Moving Average AND the bottom of the descending triangle.
One thing I am keeping an eye on, is how our new 12hr candle closes. I expect that, even though at the time of publishing this idea, it is a green bullish looking candle, I expect its body to turn into a wick, similar to the gravestone doji that closed before it.
Hope everyone stays level headed, enjoyed this analysis, and has a great day. Be sure to give a LIKE and SUBSCRIBE if you found this helpful, and as always, be sure to do your own due diligence.
Today I am going to be showing a 12hr Chart on DASH. First things first, WOW, was it intense emotionally last night and this morning. DASH moved up a decent amount last night, but being the patient people we are, we figured that DASH would stamp a gravestone doji on the 12hr, and it DID.
We entered into this descending triangle on February 22nd, and we fell under it on March 22nd.
Dash then tried to pump back above it, but got rejected from the bottom of the triangle on the 23rd and 24th.
We came back up to test this area again on March 31st and are still testing this area on April 1st (by the way- this is NOT an April fools post).
As you can see, the March 31st candle CLOSED as a Textbook Gravestone Doji, showing for a trend reversal from the fake-out between $181 and the $240 range.
This is very amazing news to expect that price will eventually retrace to the $136 area, next to the 200 Day Moving Average. This is because, not only did we have a gravestone doji, but it also got rejected from the 50 Day Moving Average AND the bottom of the descending triangle.
One thing I am keeping an eye on, is how our new 12hr candle closes. I expect that, even though at the time of publishing this idea, it is a green bullish looking candle, I expect its body to turn into a wick, similar to the gravestone doji that closed before it.
Hope everyone stays level headed, enjoyed this analysis, and has a great day. Be sure to give a LIKE and SUBSCRIBE if you found this helpful, and as always, be sure to do your own due diligence.