Descending channel which isn't breaking out yet
As usual in this period this is a quick signal with little to no explanation.
Sooner or later this descending channel will break out but I don't see this happening right now. If I'm right it'll be a very good occasion to buy some DOT. A -14% retracement is likely, if it goes below that DOT might touch the lower border of the channel. If you short use stop loss off course!
Again I don't have much time to do TA so my signals are shorts and not well explained like those of the past months. As the summer ends I'll start being more thorough like I used before.
Sooner or later this descending channel will break out but I don't see this happening right now. If I'm right it'll be a very good occasion to buy some DOT. A -14% retracement is likely, if it goes below that DOT might touch the lower border of the channel. If you short use stop loss off course!
Again I don't have much time to do TA so my signals are shorts and not well explained like those of the past months. As the summer ends I'll start being more thorough like I used before.
Comment:
well... I was partially right on this (not breaking out soon) indeed it took 8 days to look like a proper breakout but in the end it didn't bottom.