DGBUSD- "Waiting and Watching" Retest Support or Breakout?
Updated
DGB remains in a structured Downtrend, (albeit a wide one) and if current support holds it should attempt a breakout in the coming hours or days.
Seen in the charts, besides a brief dip it remains within the triangle and the length of this consolidation should prove to build momentum into a move to the upside.
MACD and RSI may need to test lower support ranges before breakout so cautious entry advised.
I have lofty targets if the move plays out but lately DGB has been notorious for quick profit taking so structure your own profit markers accordingly and a tight SL is a must in the current environment.
If short term support fails, possible entry at bottom of channel should prove profitable.
Any feedback is appreciated.
Happy Trading!
Seen in the charts, besides a brief dip it remains within the triangle and the length of this consolidation should prove to build momentum into a move to the upside.
MACD and RSI may need to test lower support ranges before breakout so cautious entry advised.
I have lofty targets if the move plays out but lately DGB has been notorious for quick profit taking so structure your own profit markers accordingly and a tight SL is a must in the current environment.
If short term support fails, possible entry at bottom of channel should prove profitable.
Any feedback is appreciated.
Happy Trading!
Comment
We just saw the 4 hr Candle close at 10.60% Gains from Entry. Dependent on position, consider protecting profits.
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