EthanTW

DYDXUSDT is Converging and two timing to entry!/Trading strategy

Long
BINANCE:DYDXUSDT   DYDX / TetherUS
BYBIT:DYDXUSDT
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1H trend chart
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DYDX has converged for a while and formed an obvious triangle.
You can notice lots trend lines needed to be broken, so I'll provide 2 different entry timing for you as below
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1. Aggressive traders
There are 2 blue horizontal lines, the upper one is a nice timing for aggressive traders.
It just broke out the orange downtrend line, so can wait for price stands firm at $24.960

2. Conservative traders
Conservative one could wait for the price takes out the long-term upper downtrend line, as the pattern at the top left.
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Profit Targets:
a) 27.857----Fib(1)
b) 32.414~34.257----Fib(1.272~1.382)
c) 44.611-----Fib(2)

Stop losses:
a) 22.001-----for Aggressive traders(Red horizontal line)
I'll update for Conservative traders if the downtrend line are taken out.
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