DYDX is too new for any Daily chart analysis, so the next best thing is a 4H.
I don't often use EWT, mostly because I can spot a 5 count in everything, and it feels very subjective, but let's see how this thesis holds up.
Using my Confluence indicator (not public), DYDX reached somewhat of a clear Top on a HTF. Logically I want it to have a smooth ride down Wave #4, but as per textbook rules, if it goes below peak of Wave #1 or below Fib 0.382 ($18.3), the entire structure is invalidated and back to the drawing board.
My SHORT target is towards $18.3 (Fib 0.382)
If that works out, I expect to enter a LONG towards R1 $22.9 and then R2 $27.3
I trade on FTX so naturally charts are a bit different on Binance Futures and Spot, adjust targets accordingly. I also trade with x1 Leverage, because it's not a race
p.s. I see mixed signals on a 1H chart, if you enter a trade, keep a close eye!
DYDXUSDTPERP
DYDXPERP
I don't often use EWT, mostly because I can spot a 5 count in everything, and it feels very subjective, but let's see how this thesis holds up.
Using my Confluence indicator (not public), DYDX reached somewhat of a clear Top on a HTF. Logically I want it to have a smooth ride down Wave #4, but as per textbook rules, if it goes below peak of Wave #1 or below Fib 0.382 ($18.3), the entire structure is invalidated and back to the drawing board.
My SHORT target is towards $18.3 (Fib 0.382)
If that works out, I expect to enter a LONG towards R1 $22.9 and then R2 $27.3
I trade on FTX so naturally charts are a bit different on Binance Futures and Spot, adjust targets accordingly. I also trade with x1 Leverage, because it's not a race
p.s. I see mixed signals on a 1H chart, if you enter a trade, keep a close eye!
DYDXUSDTPERPDYDXPERP
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.