Time to SHORT DYDX, for now.
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
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.