DOTUSDT Consolidate and wait for entry!/Trading Strategy
Updated
DOTUSDT1H trend chart
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With the strong support zone, that was formed from long-term neckline, and the upper downtrend line.
Both keep price converging in a triangle formation, direction is still unknown.
So just wait for a break from this triangle.
If the upper downtrend line can be broken out, trading strategy as below.
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Profit Targets:
a) 35.320----Fib(1)
b) 37.005~37.685----Fib(1.272~1.382)
c) 41.510-----Fib(2)
Stop losses:
a) 32.430----Redhorizontal ray
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Trading is a reflection of yourself. Learn more daily and be ready for every opportunity.
Have a nice trading!
Note
*New SL: $34.825
Congrats guys, you definitely took some profit on 1st TP.
Now, whole market is facing a pullback.
During this correction, DOT obviously gets support on Fib(1) around $35.3
But don't forget setting your SL up.
For who have followed this trading strategy, I suggest you could move your SL upper to assure your profit.
So I setup a new SL on $34.825(blue horizontal line) or you can take profit anytime after this surge.
Like this analysis and leave comment below if have any questions or ideas!
Note
Guys, DOT hit 2nd TP. Congrats!
Don't forget to take a part of profit, and let's wait for 3rd TP
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