Dogecoin / TetherUSเพิ่มขึ้น
DOGE → Ready to Rip! Ascending Triangle Says Long? Let's Answer.
ที่อัปเดต:
Dogecoin has had some fantastic bullish action as of late! If you followed my previous 4HR analysis from December 5th and longed, you made out with a 1:3 trade. What we're looking at now is another nice long setup, but should we take it?
How do we trade this? 🤔
We have an ascending triangle which is a bullish pattern following a strong bull macro trend, the 30EMA is also giving us great support. The answer is yes, I would long now!
Long here and place a protective stop just below the 30EMA and ascending triangle support line. Sell half of your position at 1:1 Risk/Reward at 0.10700, move your stop up to your entry, then swing the remainder to at least 1:3 but preferably, until you see a reversal signal. The next strong resistance is at $0.15.
💡 Trade Idea 💡
Long Entry: 0.101500
🟥 Stop Loss: $0.09600
✅ Take Profit #1: $0.10700
✅ Take Profit #2: $0.11800
⚖️ Risk/Reward Ratio: 1:3
🔑 Key Takeaways 🔑
1. Macro Trend is Bullish, Bias to Long!
2. Established Support at $0.0875.
3. In Bullish Ascending Triangle Pattern.
4. RSI at 59.00 and Below Moving Average, Does not Support Long.
5. Long here and place protective stop under 30EMA. 1:3 R/R.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like 👍 and comment if you found this analysis useful!
How do we trade this? 🤔
We have an ascending triangle which is a bullish pattern following a strong bull macro trend, the 30EMA is also giving us great support. The answer is yes, I would long now!
Long here and place a protective stop just below the 30EMA and ascending triangle support line. Sell half of your position at 1:1 Risk/Reward at 0.10700, move your stop up to your entry, then swing the remainder to at least 1:3 but preferably, until you see a reversal signal. The next strong resistance is at $0.15.
💡 Trade Idea 💡
Long Entry: 0.101500
🟥 Stop Loss: $0.09600
✅ Take Profit #1: $0.10700
✅ Take Profit #2: $0.11800
⚖️ Risk/Reward Ratio: 1:3
🔑 Key Takeaways 🔑
1. Macro Trend is Bullish, Bias to Long!
2. Established Support at $0.0875.
3. In Bullish Ascending Triangle Pattern.
4. RSI at 59.00 and Below Moving Average, Does not Support Long.
5. Long here and place protective stop under 30EMA. 1:3 R/R.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like 👍 and comment if you found this analysis useful!
บันทึก
A massive bear bar hit the stop loss target, but not before making some money!
If you followed the suggested trade idea, your Take Profit #1 target of $0.10700 was hit and with your stop loss moved to your entry price, you made a profit! If you didn't move your stop loss to your entry, you broke even!
The massive bear bar certainly woke the bulls up. This could be a triple top reversal pattern and with the RSI below the Moving average heading toward the downside, I wouldn't enter a long right now. Stay on the sidelines and let some more price action print on the screen before entering in either direction.
A fresh Doge analysis will be coming soon!
-Joe Dean
Trader Engineering Course
**Available Now at TraderEngineering.com**
Trader Engineering Course
**Available Now at TraderEngineering.com**
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