Polkadot Elliott Wave My Count Polkadot elliott wave principle theory my count
I would be glad if you write your thoughts in the comments.
This is purely my opinion, not any investment advice, trading at your own risk.
DOTUSD.P trade ideas
DOT/USD - SHORTDate: 26/03/2023
Technical Analysis:
The market respected a supply/demand zone initially.
Price broke the demand zone, which is now acting as supply, and came back to test and closed with a bearish doji.
In the Fibonacci retracement of the last down wave, there is a correction at the 0.5% level and a close with a doji candle.
In the 1-hour timeframe, there is an engulfing pattern at the 0.5% Fibonacci level, indicating a final correction of the Correction.
The market is currently in a clear downtrend.
Trade Plan:
Take Profit Target 1: The last lower low.
Take Profit Target 2: The daily supply/demand zone.
Stop Loss: Placed above the last lower made.
Risk per trade: 1% of capital. However, it is recommended to wait for a correction to enter with 0.5% risk.
Please note that this is a professional and clear trade plan for informational purposes only. It is important to conduct your own research and analysis before making any trading decisions. Additionally, please always remember to manage your risk carefully and never risk more than you can afford to lose.
DOTUSD-1HR-TF-BEARISH FLAGThe bearish flag is a candlestick chart pattern that signals the extension of the downtrend once the temporary pause is finished. As a continuation pattern, the bear flag helps sellers to push the price action further lower. No sign of divergence so, we can easily rely on bull flag continuation pattren. Dow theory and reversal pattren will not play its role.
SELL STOP VALUES:
EP: 5.81
SL: 6.07
TP1 = 5.55
TP2 = 5.03
RISK @ 2%
LOT SIZE: 3.56
Dot -bullish flag, waiting for breakoutThe DOT has formed a bullish flag, we await the breakout. In the event of a breakout, $6,600 and $7,000 could be targets.
DOT / USD, Double Bottom Chart Pattern AnalysisAccount Size: 9670
Risk: 1%
Buy Stop: 6.4
Stop Loss: 5.95
No. of Coins: 215
TP-1: 6.9
TP-2: 7.4
DOTUSD 1H - Bear TrendAnalysis:
DOTUSD is currently in a bearish trend. If the price breaks below 5.92 which is previous lower low level, it will be a sign of bear trend continuation. In this case we can enter in a short trade. For this trade the stop loss will be at 6.48 which is the previous lower high level.
------ Trade ------
Type: Short
Entry: 5.92
Stop Loss: 6.48
TP1: 5.36
TP2: 4.80
DOTUSD-Bearish Divergence-Falling WedgeDOTUSD has shown a bearish divergence by using RSI indicator. Now it is forming falling wedge. We predict that it's price will have a breakdown towards downside and we will place a Sell Stop order.
Possible 3 of a 3 of a 3Cute little nest in progress (1-2 1-2). That's how the price reacting to the bankrun?
Polkadot's Bear RunThis one isn't as clear either and looks like it wants to reverse.
It looks like it wants to go up.
The bearish cross can lead to just that, a short-term reversal but it signals a mid/long-term drop.
Look at the volume, it has been decreasing.
The Altcoins move together.
What one does the rest follows...
Polkadot (DOTUSD) is also likely to go down before the next bullish run.
Namaste.
DOT PERSONAL ANALYSIS IN THE NEXT 1-3 DAYS The total evaluation for the Polkadot asset is bearish in both long-term and short term time frames. The weekly chart has an obvious arch to the downside but in the hourly chart, you can see a more detailed scenario of where and when you can put a proper short position with confirmation of resistance. The projection can easily go to the downside up to 5.15$ with a MAX weekly downside up to 4.8-5$ -- After that, DOT is a barren wasteland to trade so its better to trade other assets for a better idea on direction and position.
Please take in consideration as well the upcoming CPI inflation data report and make sure to take profits appropriately.
DO NOT BE GREEDY.
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-Wamses
Polkadot Bullish Divergencespotted some bullish divergence on polkadot which looks promising as one of the market leaders, and one of the strongest parachain tokens. would be neat to see it turn around and help the market as a whole
Weekend update - Polkadot and our alt.(ii)Quite a few traders reached out to me in the last days since I posted our first updates on Polkadot and Vechain. Both coins could gain further momentum in the last days and slightly overshot our wave (i) top estimation.
Today we start with Polkadot, and before we dive into the count, I would like to highlight that everybody should carefully read our assumptions about a possible alt.(ii) which can be seen on the chart.
We assume that Polkadot established its original wave (i) high back on the 23rd of January at 6.813$. Since then the coin moved in multiple a-b-c waves which as of now point towards an expanded flat correction in which the upcoming wave (c) should deal the most damage. So we expect a very similar movement in most altcoins in the next days, the movements in polkadot and solana resemble an expanded flat. The rules are the same as described in our last article, the price should enter the blue retracement box and from there on should gain bullish momentum again.
We provided a more detailed count below, featuring the important alt.(ii). As of now it’s difficult to estimate how long this wave (ii) correction will last and the important question is now – will Polkadot already bottom after the upcoming yellow wave (c)?
This scenario would mean that Polkadot will decline in a 5 wave impulse in the next days and therefore would finish the whole wave (ii) correction already. Because of this, we will start to accumulate in this next wave already and won't speculate on a lower wave (c) marked in red.
Investors who aren’t familiar with the Elliot wave theory might be overwhelmed with this count, feel free to ask questions below in the comment section or just message us directly – we are happy to help!
Please note that we are already invested Polkadot since the 29th of July, back then we announced our first positions here on tradingview.
Long Polkadot (DOTUSD)
AVERAGE EXECUTION PRICE: 7.33
STOP-LOSS: NONE
LONG TERM TARGET: 55$ and more
DOTUSD (4H) - Bearish breakoutHi Traders
DOTUSD (4H Timeframe)
The market is in a downtrend and we are waiting for an entry signal to go SHORT below the 5.73 support level. Only the upward break of 6.06 would cancel the bearish scenario.
Trade details
Entry: 5.73
Stop loss: 6.06
Take profit 1: 5.54
Take profit 2: 5.21
Score: 9
Strategy: Bearish breakout
POLKADOT - BOTTOM IS IN!From looking at POLKADOT on a high timeframe, we can see that Polkadot has completed wave 2 PERFECTLY and the bottom is in.
We are now looking to ride wave 3, we made one impulse to the upside and now we are correcting that move.
See lower timeframe analysis for the breakdown.
Trade idea:
- Watch for the completion of the current correction
- Enter at the break of wave 2, stops must be below the bottom
- Targets: 14, 24, 54, HODL the rest
Goodluck and as always, trade safe.
Polkadot: On the Dot ⌚️Polkadot has already made further progress in our primary scenario and should continue the downwards movement. We expect our crypto-friend to arrive in the magenta-colored zone between $6.49 and $6.06 on the dot to finish wave a in green. Then, the altcoin should apply itself to the countermovement of wave b in green, which should lead out of the magenta-colored zone but stop before the resistance at $7.89. Afterwards, Polkadot should take another southwards step by completing wave c in green as well as wave ii in orange. Alternatively, there is a 40% chance that Polkadot could climb above the resistance at $7.89, thus shifting the recent high upwards by developing wave alt.i in orange.
My PolkaDot Buy ZoneOne of these days Dot is going make me some money, not today, but one of these days, maybe..
DOTUSD - Crypto | Bullish TrendDOTUSD is a Crypto coin and it is showing a Bullish Trend with HHs and HLs . It is expected that this trend will continue further.
Reinvesting DOT profits JUST CRUSHED a prior trade. TAGGED below! :-)
I'm taking those profits and taking this trade! =-)
DOTUSD Roadmap to $19.50 - 24.00DOTUSD/ Polkadot hit the 7.40 Resistance A, filling the gap of November 7th. We are about to form a 1day Golden Cross and the next MA Resistance is the 1W MA50 but the gap to fill is on Resistance B at 9.70. We can see a strong bullish wave in the next two months with the 1day MA50 supporting. If Resistance C breaks, a huge bullish leg is expected within 19.50 and 24.00.
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dot dumpdot is forming a head and shoulders on the daily, as the alt cap begins to look week and btc to be rejected at 25k. i expect dot to go under $6. but also look for support around the $6 area. rsi continues to weaken which is another sign
DOTUSD - A Quick 10% Gain After Breaking Trend LinePolkadot seems to have just broken through that long descending trend line after testing this line a few times historically. There's a good area for the price to head to of recent consolidation so we'll be aiming for around 10% gains to reach the bottom edge of this area after a Buy signal from Crypto Tipster v2.
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DOTUSD Potential for Bullish Continuation| 26th January 2023Looking at the H4 chart, my overall bias for DOTUSD is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. With price tapping into my buy entry at 6.124, where the overlap support and 23.6% Fibonacci line is, we are looking to take profit at 7.415, where the previous swing high is. Stop loss will be placed at 5.704, where the previous overlap support is.
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