USDT DOMINANCE: THIS ISN'T GOOD!
Welcome traders to this USDT Dominance update.
Timeframe: 6 hours.
Update: This break out right there, isn't looking good to me. It looks scary and if it doesn't drop down leaving a shadow behind, then the market will bleed bad. For the last 30 days, the USDT.D was under a falling wedge pattern and today it has broken above it. This means the market is on the red alert and we the trader should trade safely.
Conclusion: We still have 4 hours and 30 mins left for this candle to close so either we can wait for confirmation or close positions accordingly. For the last couple of weeks, I was out of trades so currently, I am not holding any positions. If you are stuck in any trades with heavy losses then you better be careful. Always use SL to be on the safer side.
I hope this idea was helpful to you.
Trade safely.
Timeframe: 6 hours.
Update: This break out right there, isn't looking good to me. It looks scary and if it doesn't drop down leaving a shadow behind, then the market will bleed bad. For the last 30 days, the USDT.D was under a falling wedge pattern and today it has broken above it. This means the market is on the red alert and we the trader should trade safely.
Conclusion: We still have 4 hours and 30 mins left for this candle to close so either we can wait for confirmation or close positions accordingly. For the last couple of weeks, I was out of trades so currently, I am not holding any positions. If you are stuck in any trades with heavy losses then you better be careful. Always use SL to be on the safer side.
I hope this idea was helpful to you.
Trade safely.
coincall.com/r/43438887
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
Trade crypto options and futures on Coincall for great onboarding bonuses and a premium trading experience.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.