DASHUSD

DASHUSD

PAIR:DASHUSD
Little bounce back of most of the coins, calls for a fast swing trading to take some profit this week.
On the 2 hours time frame, a chart pattern called the PIPE BOTTOM and a complex head&shoulders is forming.
Pipe bottoms are excellent performers in a bull market, second only to high and tight flags. They have a low break even failure rate and high average rise.
PREVIOUS MARKET PERFORMANCE
Break even failure rate: 5%
Average rise: 45%
Throwback rate: 44%
Percentage meeting price target: 83%
TRADERS GUIDELINES:
Price trend Downward leading to the pattern.
The Shape looks more like a Twin and adjacent downward spikes. On a bar chart, the two price bars look like spikes. On a candlestick chart, the candles can be any shape (from doji to Marubozu).
Spikes    The spikes should be longer than most others in the past year. Longer is better.
Needs a price rise,but need not bottom at the same price. Most pipes show above average volume on one or both spikes.
Obvious    The pipe should stand-alone and be obvious on the chart. The spike should clear the surrounding price action.The best performing pipes appear at the end of downtrends.
The pattern confirms (becomes a valid pattern) when price closes above the highest high in the pattern.
While the the complex head&shoulders patterns is forming.
A complex head-and-shoulders bottom is a chart pattern that looks like an inverted head-and-shoulders but with multiple heads, multiple shoulders, or sometimes both. The break even failure rate is low.
 PREVIOUS MARKET PERFORMANCE:
Break even failure rate: 4%
Average rise: 39%
Throwback rate: 63%
Percentage meeting price target: 74%
TRADERS GUIDELINES:
Price trend Downward leading to the pattern.
A head-and-shoulders bottom with multiple shoulders or multiple heads but rarely both.
The shoulders should bottom near the same price, be nearly the same distance from the head, and look similar to their mirror opposite.
Voulme Usually higher on the left side of the pattern. Trends downward 65% of the time. The link to the left gives an example and this link discusses performance.
The pattern confirms as a valid one when price closes above a down-sloping trendline or above the right armpit when the neckline slopes upward.AS SHOWN BELOW:


MARKET SUGGESTION:
Traders should always wait until the closes above the neckline before taking a position.
VERDICT:
BUY:$247
SELL:$260 up to $300
STOP LOSS:$232

Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.

$COV HODL

 

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