DASHUSDT
Trading is easy when the patterns are easily identifiable. There is a case of both bullish and bearish scenario which I will discuss one of one.
Bullish Scenario: It's currently testing a potential neckline. It could be argued however if it's a valid head and shoulder with left should is not touching the neckline. If it breaks the resistance, there is potential rise up to the top of the channel which is around 250 and rising.
Bearish Scenario: Five waves from the rally since March is complete and we might already in a correction phase. In that case, we will see a downward move toward bottom channel line.
Whichever position you take, make sure you apply money management principals which suit your particular risk orientation. Successful trading is more about successful money management than identifying winners and losers all the time.
Comment:
This rally does not look complete. The wave structure allows further upside potential. There is potentially another leg up which I suspect would take it to near 400. the best way to ride is by increasing stop losses as it goes higher.