Dash Entry Point Reward to Risk 2:1
Updated
Dash is forming an ascending triangle (Bullish). A break above the top could see a gain of 80-110% the height of the triangle.
A pending order could be placed above the top of the triangle.
Two things to watch out for. Target 1 is the ATH and it's pretty close. We might find resistance or reversal here.
Between the buy opportunity and the max expected profit is the psychological barrier of 1K. This may cause heavy resistance or a reversal.
Buying within the triangle is not advisable, since there is still roughly a 35% the trend will break the bottom rather than the top.
Stops can be adjusted upward if the candles stay within the triangle for a while longer. This will eventually give a more attractive R:R
A pending order could be placed above the top of the triangle.
Two things to watch out for. Target 1 is the ATH and it's pretty close. We might find resistance or reversal here.
Between the buy opportunity and the max expected profit is the psychological barrier of 1K. This may cause heavy resistance or a reversal.
Buying within the triangle is not advisable, since there is still roughly a 35% the trend will break the bottom rather than the top.
Stops can be adjusted upward if the candles stay within the triangle for a while longer. This will eventually give a more attractive R:R
Note
Target 1 reached a break above 920 has us headed to around 1K.Note
There we have it a new All time high 921 Time for liftoffTrade closed: target reached
Second and final targets reached trade closed for new setup.
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