USDT DOMINANCE: THIS ISN'T GOOD!
Welcome traders to this USDT Dominance update.
Timeframe: 6 hours.
Update: This break out right there, isn't looking good to me. It looks scary and if it doesn't drop down leaving a shadow behind, then the market will bleed bad. For the last 30 days, the USDT.D was under a falling wedge pattern and today it has broken above it. This means the market is on the red alert and we the trader should trade safely.
Conclusion: We still have 4 hours and 30 mins left for this candle to close so either we can wait for confirmation or close positions accordingly. For the last couple of weeks, I was out of trades so currently, I am not holding any positions. If you are stuck in any trades with heavy losses then you better be careful. Always use SL to be on the safer side.
I hope this idea was helpful to you.
Trade safely.
Timeframe: 6 hours.
Update: This break out right there, isn't looking good to me. It looks scary and if it doesn't drop down leaving a shadow behind, then the market will bleed bad. For the last 30 days, the USDT.D was under a falling wedge pattern and today it has broken above it. This means the market is on the red alert and we the trader should trade safely.
Conclusion: We still have 4 hours and 30 mins left for this candle to close so either we can wait for confirmation or close positions accordingly. For the last couple of weeks, I was out of trades so currently, I am not holding any positions. If you are stuck in any trades with heavy losses then you better be careful. Always use SL to be on the safer side.
I hope this idea was helpful to you.
Trade safely.
