DOGE Short Term Short, Long Term Long
Rejected with a double top. If it breaks down out of this flag we could see some correction in the next day or two. Price targets are circled, personally i'd take 35%, 30%, 20$, 10%, 5%. Stop above the VWAP ~.465. Not Financial Advice!! Make your own decisions and do your own research!! I will not be taking this trade since I don't like shorting crypto with its sporadic movements.
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Taking 10% of the remaining 15% off the table here since we are holding the 250MA on the hourly well. No need to get greedy, but leaving the remaining 5% as lottos shares. Stop moving to.4525. Anyone that took the trade, Well Done!!Note
Trade yielded ~6.3% gain with just under a 1% risk. Once it got down to the lower trend line, Sizing back in was very possible. Note
This short worked well because you only take a short when the price is below the VWAP with the moving averages tightening up right above the price, then they start to curl down that is where you could initiate the trade, and have super tight stop loss. In this instance, you would most likely have been stopped out, and had to re-enter once confirmation of the break down was apparent. This is why I have moved to using a slightly larger stop on certain things, but waiting for the MA's to start curling as one, THEN waiting for a candle on the 5min to form confirming the trade. Hope this helps someone!!Note
Almost forgot, waiting until volume picks up exponentially is crucial.
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