DASHUSD DashDollar
We got stopped out of the long from 305 at 599 which was
cruel considering it bottomed at 596. Just bad stop
management - should have lowered it to cover the lower
parallel but didn't pay enough attention in truth, so busy with
those other 3 favorite girlfriends to pay this enough time.
Bad. And got punished for that lapse.
Back on the trail: the continuation pattern is clearer now.
There are two posible entry points here:
1. On a break of the upper parallel, confirmed by a push
above the blue line above it at 638, looking to buy on the
first minor pull-back with stops kept under the parallel.
2. But Dash is now in a vulnerable spot, trying to break above
the old dynamic support line from the lows which is now
acting as resistance...If this continues and Dash falls away
from the old dynamic stopping it now there is a good chance
it will fall back to 606-595 range again. If so look to buy here
with stops below 590/adjusted to below the lower parallel,
unlike the mistake made above, with a little luck.
But if Dash can break above this old dynamic and then the
resistance immediately above it, it would be a real show of
strength. Follow it as per 1st option.
We got stopped out of the long from 305 at 599 which was
cruel considering it bottomed at 596. Just bad stop
management - should have lowered it to cover the lower
parallel but didn't pay enough attention in truth, so busy with
those other 3 favorite girlfriends to pay this enough time.
Bad. And got punished for that lapse.
Back on the trail: the continuation pattern is clearer now.
There are two posible entry points here:
1. On a break of the upper parallel, confirmed by a push
above the blue line above it at 638, looking to buy on the
first minor pull-back with stops kept under the parallel.
2. But Dash is now in a vulnerable spot, trying to break above
the old dynamic support line from the lows which is now
acting as resistance...If this continues and Dash falls away
from the old dynamic stopping it now there is a good chance
it will fall back to 606-595 range again. If so look to buy here
with stops below 590/adjusted to below the lower parallel,
unlike the mistake made above, with a little luck.
But if Dash can break above this old dynamic and then the
resistance immediately above it, it would be a real show of
strength. Follow it as per 1st option.
Comment:
Pin bars of rejection just under the upper parallel as day traders take profits.
Day traders can still pick this up around 600-595 with stops under the lows of the day at 593. But it's a sell just under the upper parallel again. this will continue until one side or the other, bull or bear, gets fed up with the fight and submits. If the bulls can win we know they have to push price above the upper parallel and sustain it..loads of failed breaks since the weekend (dollar is closed down for 48 hours, in a box with a lid on it then. That means the baby Alts can play amonsgst themselves without having to worry about a strong $. And is why breaks can happen more freely at weekends). Anyway, if this happens we can follow it (dollar counter-rally has very little to run from here) looking for a retest of the highs, and perhaps substantially more.
On downside, the spike lows at 593 probably need more respect than they've been given here so far, so another support line has been added to chart . If this level gives way it will fall to the lower parallel where it becomes a speccy buy only with a stop just 3 points under the parallel at most. And if the lower parallel fails to hold price up from that point we know we have a potential bear raid about to blow up...short it with stops above the same parallel once broken to downside if a day trader and stand back if not. We should be able to buy again from lower down at that point.
Day traders can still pick this up around 600-595 with stops under the lows of the day at 593. But it's a sell just under the upper parallel again. this will continue until one side or the other, bull or bear, gets fed up with the fight and submits. If the bulls can win we know they have to push price above the upper parallel and sustain it..loads of failed breaks since the weekend (dollar is closed down for 48 hours, in a box with a lid on it then. That means the baby Alts can play amonsgst themselves without having to worry about a strong $. And is why breaks can happen more freely at weekends). Anyway, if this happens we can follow it (dollar counter-rally has very little to run from here) looking for a retest of the highs, and perhaps substantially more.
On downside, the spike lows at 593 probably need more respect than they've been given here so far, so another support line has been added to chart . If this level gives way it will fall to the lower parallel where it becomes a speccy buy only with a stop just 3 points under the parallel at most. And if the lower parallel fails to hold price up from that point we know we have a potential bear raid about to blow up...short it with stops above the same parallel once broken to downside if a day trader and stand back if not. We should be able to buy again from lower down at that point.
Comment:
DXY Dollar Update
Comment:
DASHUSD
A wild break out of the continuation pattern on Dash. It was so volatile on the breakout and forced price right back to a
spike low at 586 and likely causing havoc with stops as it swung wildly in a 10% range. Then it settled after this spike
with pin brs above showing heavy selling pressure still, but now price started to build off the upper parallel and the bears
started losing the battle. Bigly. It was horrible gut-wrenching stop-popping break - it came in London time too, showing how
the thirst for Alts is spreading across the globe. If you got this break and held on through the maelstrom you did well to hold
your nerve. And if you got stopped out on the 10% break lower once the parallel had been beaten that's a cruel twist of fate
and very disheartening, especially after seeing what came next. It was the 8am (GMT) print that gave the clue, just
coming back to test the parallel and holding, followed by a green candle, the signal to get long once more with stops
below the parallel, again. But when you've just been mauled by a bear it's understandable to hold back and be wary. This is
a good example here of what separates the great trader from the average. A top trader will accept the loss but won't give
up the hunt, looking to go again if he can see the dust settle a litttle and see what the chart is saying through the noise. At
that point he's robotic, unemotional, cold, calculating. He is Bourne, he is Bond. So easy to say it. In reality not so much.
But it's a lesson we have to try to learn from.
Since the break Dash has fired up to reach a high at 786 and is now using an old resistance line as support as it unwinds from
a 180 point 30% burst higher. The big pin bar at the top from 730 to 786 shows sellers are dominant in this space yet Dash is
trying to push higher again from 730. We need to see it consolidate now and form a new pattern from here.
So far it appears to be doing that within the boundaries of the upper parallels. It will have to break below the central
parallel to turn negative again, forcing price back to 656, a good buy point if seen. But at the moment it won't drop below
699...untill it does it's making a flag formation between the upper two parallels. That's still bullish unless/until 699 breaks.
A wild break out of the continuation pattern on Dash. It was so volatile on the breakout and forced price right back to a
spike low at 586 and likely causing havoc with stops as it swung wildly in a 10% range. Then it settled after this spike
with pin brs above showing heavy selling pressure still, but now price started to build off the upper parallel and the bears
started losing the battle. Bigly. It was horrible gut-wrenching stop-popping break - it came in London time too, showing how
the thirst for Alts is spreading across the globe. If you got this break and held on through the maelstrom you did well to hold
your nerve. And if you got stopped out on the 10% break lower once the parallel had been beaten that's a cruel twist of fate
and very disheartening, especially after seeing what came next. It was the 8am (GMT) print that gave the clue, just
coming back to test the parallel and holding, followed by a green candle, the signal to get long once more with stops
below the parallel, again. But when you've just been mauled by a bear it's understandable to hold back and be wary. This is
a good example here of what separates the great trader from the average. A top trader will accept the loss but won't give
up the hunt, looking to go again if he can see the dust settle a litttle and see what the chart is saying through the noise. At
that point he's robotic, unemotional, cold, calculating. He is Bourne, he is Bond. So easy to say it. In reality not so much.
But it's a lesson we have to try to learn from.
Since the break Dash has fired up to reach a high at 786 and is now using an old resistance line as support as it unwinds from
a 180 point 30% burst higher. The big pin bar at the top from 730 to 786 shows sellers are dominant in this space yet Dash is
trying to push higher again from 730. We need to see it consolidate now and form a new pattern from here.
So far it appears to be doing that within the boundaries of the upper parallels. It will have to break below the central
parallel to turn negative again, forcing price back to 656, a good buy point if seen. But at the moment it won't drop below
699...untill it does it's making a flag formation between the upper two parallels. That's still bullish unless/until 699 breaks.
Comment:
Closer Up
long again from here with a low at 601. Did anyone short the
failed break? A classic example here yesterday, of those who
bought anticipating a break out which failed under the old
dynamic - now acting as resistance - and then held on, against
what the chart was telling them and then slowly giving in as
their position sunk lower and lower against them. Ever been
there before? Probably. Hearts ruled charts at that point. You
know better! Sell each little rally attempt back down to
support. That big pin bar of rejection off the upper parallel is
showing strong rejection there. Sell this position on any strike
of that parallel if we see it - or on abreak below 599 for small
loss if wrong here. Look to buy again off the lower parallel
with stops 5 points lower.