DAO/EUR - Daily chart

in #dao • 8 years ago

Hello guys,
on this post we talk about the DAO. The next chart (DAO/EUR) is daily:

We have seen a triangle pattern: symmetrical triangle. In technical analysis symmetrical triangle is a continuation pattern developed in markets that are aimless in direction.

(Edwards and Magee suggest that roughly 75% of symmetrical triangles are continuation patterns and the rest mark reversals.)

...On the DAO's chart, this pattern is not perfect, but it's present...

For the moment our best trading strategy is double:

  • Bullish: breakout of the upper trendline. The 1st target is @0.134 (Probability 40%)
  • Bearish: breakout of the lower trendline. The 1st target is @0.978 (Probability 60%)

Look at the oscillators:

It's important to note that the bearish strategy must be confirm by a negative crossover of the MACD & RSI/CCI divergences.

Good trading

Best

#analysis #trading #performance #euro
8 years ago in #dao by
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