Market Structure: Based on the 1D TF, there is a support level @ 17.25 and a resistance level @ 25.74. On July 23, the price of DASHUSDT bounced off the resistance level therefore we can assume that the price will move towards the support level @ 17.25.
Area of Value: Based on the 4H TF, we can see the possible pivot points with the confluence of the Fib. Retracement and Resistance level @ 22.02.
Entry: We have entered the trade @ 21.30, after a justifiable bounce off our Area of Value.
Exits:
- Stop Loss level @ 22.70 which is the top off our bounce + ATR Value.
- Take Profit @ 18.25 which respects the Fib. Extension @ 18.16, and Support level @ 17.25
Max R:R = 2.18
Area of Value: Based on the 4H TF, we can see the possible pivot points with the confluence of the Fib. Retracement and Resistance level @ 22.02.
Entry: We have entered the trade @ 21.30, after a justifiable bounce off our Area of Value.
Exits:
- Stop Loss level @ 22.70 which is the top off our bounce + ATR Value.
- Take Profit @ 18.25 which respects the Fib. Extension @ 18.16, and Support level @ 17.25
Max R:R = 2.18
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.