Based on the 4H chart we can see that price broke the downtrend line. It's a signal that the market probably is going to move higher. We have long opportunity and a possible entry level higher than 182.500. If the maket reaches this level, we'll open long trades with stop orders below the uptrend line and profit target near the resistance zone. We also have to watch for DMI indicator. When ADX line of this indicator rises higher than 20, we'll have confirmation of trend market conditions and the up movement.
Can anyone explain what upward 'green arrow' means? Also is 'support level' determined as a area just above support line?
DLavrov
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@hanjustin, green arrow show the direction of a trade. Green arrow means buy, read arrows - sell.
Zargham
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@DLavrov, do you expect it to rise against the bitcoin as well?
Zargham
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@Zargham, Im still learning but I trade against the BTC. The DI+ line crosses the DI- line on the DASH/BTC graph and ADX line is trailing close to 20, which is why I was thinking it can rise against the BTC as well, would that make sense? Thank you for your analysis :)
DLavrov
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@Zargham, It's better to use DMI as an indicator which can show you market conditions. If ADX line is above 20 and rise - you have trend market conditions. If ADX line is above 20 and falls - you have trend market conditions and correction wave. If ADX is below 20 - you have range market conditions. Something like this.
chris27
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This was good, and I took profit at target before the brief dip. What are your ideas/strategies for taking profit at target as opposed to letting the trade continue for further growth - such as on this occasion?
juniooor
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DASH at $210 , targets $230 - $245 ?
elkirill
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how do you think - is it possible to breakout 200 lvl? it seems to be like this