After reaching all time high in November 2021, DOTUSD completed the first advance wave (1), then subsequently declines on the a-b-c wave (2) with an extended c wave retracing more than 90% of wave (1), while still respecting the guideline that wave 2 can retrace 99% of wave 1 but not overthrow it.
Expecting the final wave v down towards a lower low near 2.0, which will complete the wave c of (2) before reversing on wave (3).
The Strategy is to setup for longs next month (correlating with BTCUSD reversal), with SL at 0.0 for max. R/R.
Expecting the final wave v down towards a lower low near 2.0, which will complete the wave c of (2) before reversing on wave (3).
The Strategy is to setup for longs next month (correlating with BTCUSD reversal), with SL at 0.0 for max. R/R.
Trade active
Update on 2 hour chart, setting alert at min. retracement
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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.