Keeping it simple with everyone's favorite Pet!! DOGEUSD!!
Updated
Hello Trading View Community,
Pretty simple and right to the point analysis with DOGEUSD. After printing a double bottom on the support zone, its moved its way up to $0.28 price area which is now acting as primary resistance zone. If DOGEUSD is able to claim this zone, a move up to 0.5 Fib level*** (see below) would be a possible target zone. If we see a rejection here, then a retest of EMA cluster as support would be next.
Thank you guys for checking out this idea on DOGEUSD. If you find this analysis useful, support with a simple "Like" or "Follow".
Trade carefully and remember these are just ideas, not trading advise.
***Although 0.5 is commonly used as par of Fibonacci analysis, it's not a true fib level.***
Pretty simple and right to the point analysis with DOGEUSD. After printing a double bottom on the support zone, its moved its way up to $0.28 price area which is now acting as primary resistance zone. If DOGEUSD is able to claim this zone, a move up to 0.5 Fib level*** (see below) would be a possible target zone. If we see a rejection here, then a retest of EMA cluster as support would be next.
Thank you guys for checking out this idea on DOGEUSD. If you find this analysis useful, support with a simple "Like" or "Follow".
Trade carefully and remember these are just ideas, not trading advise.
***Although 0.5 is commonly used as par of Fibonacci analysis, it's not a true fib level.***
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Since our initial post, DOGEUSD has made a 24% move to the upside as expected. Personally I have taken out profits here, since RSI is getting fairly extended on the daily chart. Its not impossible however to see DOGEUSD continue to pump up to .5 fib range and consolidate there before another pump. As always, thank you for checking out this idea on DOGEUSD. If you find this analysis useful, support with a simple "Like" or "Follow".
Trade carefully and remember these are just ideas, not trading advise.
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