I was waiting for the structure to break and return to the imbalance which was created to get me enter into a short trade. I'm just backtesting the concepts which I'm learning.
2.32% Loss (if made so)
8.57% Profit (might exit before hand)
Polkadot has started consolidating, indicating the change in the trend (Downtrend).
DOTUSDT is respecting the trendline(RED). Also started to make the W reversal pattern.
RSI is in an uptrend and 50MA also supporting the candles.
Keep the trend line(RED) as the stop loss, For the 1st target of 23.25 DOTUSDT
#-There is a possibility That We can see a Pullback to the suggested support line (42.73).
The Analysis is based on personal Knowledge of technical analysis , Please Do Not Take It as a Financial Advice, And Always Do Your Own Research.
. DOTUSD is in an Ascending Parallel Channel .
. The price is above the 50 Ema and It is also Acting as a...
$DOT has been perfectly following the Fibonacci Fan and is in a massive bull trend. Taking resistance in the 0.25 level on the fan, and is ready to break it. The All Time High, which is at 50 USDT, might be broken at the end of next week.
". There is a possibility of temporary retracement to the suggested support line (20.99).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. DOTUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic...