Keep it simple!
Looking at DASH on the monthly, we can see a strong down trend momentum. With this trade I will be very cautious, placing my buy entries in the blue box at the 6100 Sat's range. There is a good chance DASH finds support above this range at the orange boxes, but my retracement levels don't suggest this as a level to buy at. I have posted better trades with a greater risk to reward if you are eager to be in a trade!
I appreciate my buy range may be too conservative, but in trading it is better to only enter trades with a good risk to reward, than to gamble at finding the "bottom".
So for now i am bearish until I can see a level of support to be made, and higher low plays to be seen, followed by a test and break of a previous resistance.
At this point I will have my entries on the blue box, until I see a change in momentum to the downside.
Looking at DASH on the monthly, we can see a strong down trend momentum. With this trade I will be very cautious, placing my buy entries in the blue box at the 6100 Sat's range. There is a good chance DASH finds support above this range at the orange boxes, but my retracement levels don't suggest this as a level to buy at. I have posted better trades with a greater risk to reward if you are eager to be in a trade!
I appreciate my buy range may be too conservative, but in trading it is better to only enter trades with a good risk to reward, than to gamble at finding the "bottom".
So for now i am bearish until I can see a level of support to be made, and higher low plays to be seen, followed by a test and break of a previous resistance.
At this point I will have my entries on the blue box, until I see a change in momentum to the downside.