From neutral to bearish (see previous idea/post link below) especially if we see a daily close as confirmation.
Measured target for this move shown in the chart.
This is a reversal trade and is a contrarian position against the overall preceding trend. I tend to view these setups as lower probability so I'm managing my risk here as best I can. Let's see what...
Current pattern resembles a spike and ledge consolidation pattern which can go either direction. I lean towards using it for reversal trades but it can also be a continuation pattern. What's interesting here is that the ledge structure is an ascending triangle. If this is confusing other traders like it is confusing me, we might see more trading range price action...
Step #1: Dash cryptocurrency price needs to show a steady rise that suddenly accelerates to the upside.
When this reversal pattern is complete, it will resemble a cup with a sharp bottom.
This sharp acceleration usually is the last stage of a bull cryptocurrency market, and it’s followed by a sharp reversal if all the trading criteria for a valid Spike and Ledge...
