DOT completed a five wave advance starting in Oct 23 and then put in a high on 14 Mar. Since then it sold off sharply. I suspect we are in wave 4 of c and about to put in an additional low before we can look for an impulsive development on the intraday charts. I'd buy a break above the b wave high at 10.06 (stop under 8.08) , or if new low forms in the next couple sessions then use the wave 4 of c pivot at 8.74 (stop under the new low).
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Looks like we may have completed the C wave and getting the initial impulse move up from that pivot. I think we can be long against the 13 Apr low at 5.77 with a small starter. From there we can add on the dips as the pattern proves itself.
Liking your approach! If a new low forms, buying at the wave 4 of c pivot at 8.74 with a stop under the new low sounds like a solid plan. Thanks for the insight
evilpancake
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@MyCryptoParadise_Simon, Wave 4 extended a little bit higher after I posted. We can probably get a little closer to the market by using the pivot at 7.49 now.