DASH/USDT Long Position
Updated
Dash was depreciating for quite a while now in a down wedge and formed a triple divergence on AO indicator. That is also supported by the divergence on the RSI. The price action formed a nice hammer candle with a good volume spike on the 26th of December. At the same time, the volume was steadily increasing. The strategy is to go long when the highest point of the hammer would be broken by the price with the stop loss of just below the minimum value of the same hammer candle.
Entry: 40.97
Stop Loss: 37.95
Take Profit: 49.56
Entry: 40.97
Stop Loss: 37.95
Take Profit: 49.56
Trade active
Still in the trade. Due to the lack of activity during the New Year, the price re-checked the entry price. This move was on a very low volume and formed a horizontal channel between $39.45 and $44.59. If the asset would be able to pick up the volume in the next 2-3 days, then there is a good chance of breaking the resistance at $44.59 if not then it would be appropriate to close the position at this level.
There is no need to move the stop loss yet, as there can be a quick drop and bounce before the upward move.
Trade closed: target reached
Nice profit of +20.97%!
BUY - SELL - REPEAT
(c) WunderTrading
(c) WunderTrading
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