DENT - Easy Double Bottom

14 thg 12, 2021

Dent is fast approaching a double bottom level where we may see price bounce off aggressively like it did in late July. For confirmation of bearish reversal, you can wait for the break of the red descending trendline.
It is possible to take short term short trades back to the double bottom but there will be limited gains. The bigger move will be the move up.

Trade Idea:
- Watch for price to continue correcting back to the double bottom region of 0.001500
- Once bullish price action appears, enter with stops below the structure (risk entry)
- For safe entry, watch for the break of the descending red trendline and enter with stops below the structure level
- Target the recent highs as first target and actively manage your other positions

Goodluck!