$DOT is an interesting one, there isn’t much in history in its price action. While some alts have been creating recognizable MS to day trade $DOT has been ranging between $6 and $4.
Price has been trapped here since the last week of August both the high and low were printed in that month, not something I would try to swing trade but it looks like a scalper dream. Little else has happened since, just ranges and mor ranges.
Market structure is still bullish on the higher timeframes.
It looks like it could dip towards $4 before it runs but in reality there is a lot of room for this thing to fall.
I would be more interested if price came to the zone between $4.35-$4.20
Seeing as it loves creating socks on the higher timeframes the dip in to that zone could happen very quickly and it probably wouldn’t give a decent chance to enter a position that would satisfy proper risk management when it comes to stop placement.
To be honest anything can be traded if you follow it long enough to see the zones it likes trading at and figuring out how it acts before a move.
If I were to touch this I would need it to “come to me” as it’s currently trading in no mans land.
Price has been trapped here since the last week of August both the high and low were printed in that month, not something I would try to swing trade but it looks like a scalper dream. Little else has happened since, just ranges and mor ranges.
Market structure is still bullish on the higher timeframes.
It looks like it could dip towards $4 before it runs but in reality there is a lot of room for this thing to fall.
I would be more interested if price came to the zone between $4.35-$4.20
Seeing as it loves creating socks on the higher timeframes the dip in to that zone could happen very quickly and it probably wouldn’t give a decent chance to enter a position that would satisfy proper risk management when it comes to stop placement.
To be honest anything can be traded if you follow it long enough to see the zones it likes trading at and figuring out how it acts before a move.
If I were to touch this I would need it to “come to me” as it’s currently trading in no mans land.