DASHUSDT: short setup from daily support at 40.63

4 days ago

DASHUSDT.P is consolidating on the lower timeframe right above the level. This is a strong signal, although ideally, I would prefer to see at least one clear test (a price touch) of the level. However, perfect setups are rare, so I consider the overall situation very promising. On the Daily timeframe, the asset has been holding above support for 5 days, confirming the level multiple times. Given the general bearish trend of the market, we have all the prerequisites for a solid short trade. All that remains is to wait for the entry trigger.

Key factors for this scenario:

• Correlation with the market
  
• Volatility contraction on approach
  
• Immediate retest
  
• Prolonged consolidation
  

Factors that contradict this scenario:

• Yesterday's bar closed far from the level
  

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yesterday

Trade closed: target reached