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DYDX / TetherUS PERPETUAL CONTRACT

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DYDXUSDT.P trade ideas

DYDXUSDT wants the false breakout?In the landscape of the DYDXUSDT trading pair, a notable development has surfaced with the price currently testing the daily resistance. This testing phase is transpiring within the context of both a triangle pattern and a descending channel. These patterns offer valuable insights into the market's current dynamics and potential future movements. The triangle pattern signifies a convergence of the price's highs and lows, resulting in a narrowing price range over time. Simultaneously, the descending channel further characterizes the market's behavior, showcasing a sequence of lower highs and lower lows within a defined channel structure. Of particular interest is the possibility of the price capitalizing on the false breakout that transpired in the $2.3 area. False breakouts, where the price briefly breaches a key level before reversing, can lead to a liquidity grab as traders' positions are triggered, potentially resulting in a swift price movement. Following Plancton's rules, this scenario might align with a new short position opportunity. Plancton's approach emphasizes the importance of confirmation and adherence to specific criteria before entering trades. To align with Plancton's rules, traders are encouraged to: Confirmation: Wait for a clear and sustained breakdown below the support level of the triangle or descending channel. This confirmation involves ensuring that the price remains below the level and is supported by factors like increasing volume. Technical Indicators: Utilize technical indicators such as moving averages, oscillators, and trend confirmation tools to assess the strength of the potential breakdown. Risk Management: Implement effective risk management strategies, including setting appropriate stop-loss levels and considering position sizing. This helps manage potential losses in case the market movement doesn't align with expectations. Patience: Exercise patience and wait for a definitive confirmation before entering a trade. False breakouts can lead to losses, so caution is paramount. Market Context: Consider the broader market context, news, and events that could influence the price movement of DYDXUSDT. In summary, the DYDXUSDT trading pair is currently engaged in testing the daily resistance within the confines of both a triangle pattern and a descending channel. The potential for a new short position based on the premise of liquidity grab from the false breakout is in line with Plancton's rules. However, thorough analysis, careful execution, and risk management are crucial components of making informed trading decisions within this context. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
16
1HR DYDX EW Short Nice impulse wave formation with the top of 5 wave perfectly snugged in with previously tested resistance level. This gives some confidence to shorting with the corrective waves, rather than an upward continuation at this time. With DYDX seemingly being on the cusp of a bullish take off however, I placed my SL right above 5. Overall it looks to be a great trade so I have no complaints EVEN IF the market decides that now is the time to blast off. Time will tell. What would you put your money on? TP is at the 618 fib level which correlates with an OB as well. Makes for a solid 1:3 RR. 1 HR timeframe so Updates to follow
Short
by NurseTrade
short dydx## Risk & Management - 1% capital per trade. - Move SL to breakeven at 1:1R ## Points of Interest - Order blocks - Major liquidity grab ## Framework - On the 4H timeframe, gauge overall bias & locate major points of interest. - When price enters a point of interest, drop down to the 15M or 5M timeframe. - Wait patiently for price to purge liquidity within the point of interest. - Wait for price to impulsively break structure & create imbalance. - Enter at the order block responsible for the break of structure. ## Entries - The OB caused a BOS. - The OB is the extreme zone. - The OB created clear imbalance. - Liquidity has been clearly Identified.
Short
by qtranhtc
dYdX Tight RangeThe price of dydxusdt went up a lot yesterday. Now, I think the price needs to calm down a bit. My expectation is that the price will go back up again to a certain level. This level is where the price was before and acts like a support area. This should help the price to keep going up. There is a level at $2.203 where the price has had trouble going above. It's like a strong wall. Instead of trying to go over it in one big jump, I expect the price to go up and down around this level a few times. This can make it easier to finally break through this level. Daily timeframe shows more details on overall picture:
by ArShevelev
DYDX Buy TradeHere is My Study on DYDX. Welcome to my channel! Here you'll find daily technical analysis ofthe latest trends in the crypto market. From Bitcoin to altcoins, I'lIl be sharing my insights and predictions to help you make informed decisions about your investments. Follow me for the latest updates and join the conversation in the comments! Crypto technical analysis uses past price history to predict future price. It's not a guarantee and shouldn't be relied on solely for investment decisions. Consider other factors such as market trends, economic strength and information dissemination. Use with caution. This Is Not A Finacial Advise
Long
by MoonTradingForecast