Instrument : Dogecoin/USDT Perpetual
Entry: 0.17321 USDT (65% Fibonacci retracement of the last down‑swing)
Stop Loss: 0.17604 USDT (≈2 × ATR above entry; just above the recent swing high)
Take Profit: 0.16754 USDT (≈4 × ATR below entry / next structural support)
Rationale:
Downtrend Structure: Price has been carving out lower highs and lower lows on both the 1 h and higher time‑frames, confirming bearish control.
EMA Alignment: The fast EMA sits below the slow EMA, both angling downward on 1 h, with the higher‑TF EMA also bearish.
Indicator Confirmation: RSI and MACD are both in seller‑favoring territory, and volume is supportive of the down‑move.
ATR‑Based Levels: Stop set at 2 × ATR to cushion normal volatility; TP at 4 × ATR to capture a strong move with a favorable reward/risk.
Risk/Reward: ~2 : 1
Risk: 0.17604 – 0.17321 = 0.00283 USDT
Reward: 0.17321 – 0.16754 = 0.00567 USDT
Entry: 0.17321 USDT (65% Fibonacci retracement of the last down‑swing)
Stop Loss: 0.17604 USDT (≈2 × ATR above entry; just above the recent swing high)
Take Profit: 0.16754 USDT (≈4 × ATR below entry / next structural support)
Rationale:
Downtrend Structure: Price has been carving out lower highs and lower lows on both the 1 h and higher time‑frames, confirming bearish control.
EMA Alignment: The fast EMA sits below the slow EMA, both angling downward on 1 h, with the higher‑TF EMA also bearish.
Indicator Confirmation: RSI and MACD are both in seller‑favoring territory, and volume is supportive of the down‑move.
ATR‑Based Levels: Stop set at 2 × ATR to cushion normal volatility; TP at 4 × ATR to capture a strong move with a favorable reward/risk.
Risk/Reward: ~2 : 1
Risk: 0.17604 – 0.17321 = 0.00283 USDT
Reward: 0.17321 – 0.16754 = 0.00567 USDT
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.