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DOTUSD Latest Bear Pennant Part of its 4H Megaphone Structure

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Avatar for rafaelken1989
Written by   52
4 months ago
Topics: Polkadot, Dot, DOTUSD, Technical, Analysis, ...

Polkadota has an interesting price structure that has starting to develop since August 2022.

It has a megaphone structure (expanding triangle pattern) which usually very volatile in nature.

This type of structure usually ends in trend continuation and we can see the DOTUSD came from a nasty down trend and probable re-occurrence once its latest local bear pennant PoD (point of decision) arrives.

I will put a short order once price starts to break-down outside the pennant and take some profit at the next lower low chance of its wide megaphone structure. Sell stop once price gets back inside the pennant range then that's being bullish?

This short trade has a flat 1 RR score.

Original article written by me:

https://www.finlogix.com/analysis/20220917/dotusd-latest-bear-pennant-part-of-its-4h-megaphone-structure

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Avatar for rafaelken1989
Written by   52
4 months ago
Topics: Polkadot, Dot, DOTUSD, Technical, Analysis, ...
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