DOTUSDT - Wave 4 looks to be in. Wave 5 ride? Nice R:RMY FIRST CHART
New guy here learning to swing trade and chart - band new to technical analysis so...grain of salt and all, laughs to be had. Just posting my charts as part of my learning process. Want to archive and review my charts/trades/thoughts to track progress/accuracy if any. Open to feedback from anyone who comes across this. Thank you.
- My count has DOTUSDT on wave #3 for an overall count. Have three different counts of different magnitudes going from start of chart. All meshing well as of now.
- It looks like subwave 4 of wave #3 is in. My large count of subwave 4 has ended (9 vectors inside subwave 4). Subwave 4 is also resting on the 4/1 Gann fan as well a sqrt support. My smallest count of subwave 4 is done or almost done, there could be a few more down vectors but I think the 4/1 fan and the sqrt support have a good chance to hold.
- Subwave 3+4 also line up nicely on the Gann square arcs just like subwaves 1+2
- MACD just crossed over as well
- I'm thinking wave 5 is now underway (usually sideways to start out)
- Using square roots of close on low candle 7/20/2021 ($10.80) for support and resistance levels (worked good for waves 1+2+4)
- Loose target of $50 for truncated 5 and $69 for a normal vector as of now - will adjust the target further into the wave if it goes up
- Look for entry now or wait for breakout and ride the wave to the top or buy the dips
- I will update this periodically
*Need to look into targets for time (only have loose price target nothing on time axis other than Gann square) Charts are price and time, price only half the chart/equation. Can time be forecasted/projected like price for a better picture?
