Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
๐ DYDX has been overall bullish, trading within the rising channel in blue.
Currently, DYDX is undergoing a correction phase and it is currently approaching the lower blue trendline.
Moreover, it is retesting a strong support zone marked in green.
๐น Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline acting as a non-horizontal support.
๐ As per my trading style:
As #DYDX approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
๐ Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
๐ DYDX has been overall bullish, trading within the rising channel in blue.
Currently, DYDX is undergoing a correction phase and it is currently approaching the lower blue trendline.
Moreover, it is retesting a strong support zone marked in green.
๐น Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline acting as a non-horizontal support.
๐ As per my trading style:
As #DYDX approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
๐ Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
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Use Coupon: TV6 on www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal