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Dogelongsetup

DOGE → A Rip to $0.10! Will We Continue to $0.15 and Beyond?Dogecoin ripped through the $0.88 Resistance, found support on it, then blasted through the next resistance of $0.10! My previous analysis projected this outcome and successfully closed the proposed trade. Where does the Doge price go from here? How do we trade this? 🤔 We're now zooming out to the Weekly candles to see where the next Resistance Zone is and it appears to be in the $0.15 to $0.16 range. That's a 50% increase in price from where we are now! To take advantage of that range, we need to take a breath after those last few Daily bull candles and wait for a pullback. This Weekly candle needs to close bull followed by a bar or two of sideways price action. It's reasonable to zoom into the Daily chart for more detail and I'll provide updates on that chart here as the days pass. Once a pullback is completed and we have the proper signs of continuation, it's reasonable to long again for another 1:3 Risk/Reward trade! Look for strong bull channel support or the 30EMA once it catches up to the price. RSI is also at 74.00 which supports at least a pullback. Be very careful here as it wouldn't surprise me if we get a rapid sell-off in response to the rapid buy. Markets are about balance and right now, we're a bit out of balance. 💡 Trade Idea 💡 Long Entry: $0.0990 🟥 Stop Loss: $0.08435 ✅ Take Profit: $0.14300 ⚖️ Risk/Reward Ratio: 1:3 🔑 Key Takeaways 🔑 1. Breakout of Bear Channel, Bias to Long! 2. Wait for Weekly Candle to Close Before Entering. 3. Test Bear Channel Support Means Higher Probability of Profit. 4. RSI at 74.00, Bias to Short. 5. Best to wait for pull back before entering. ⚠️ 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!
Long
by TraderEngineering
Doge Pay Day Possible Flag Forming on 15m towards top trendlineThe Flag is kind of sloppy but it can be blamed on BTC and market movements just an idea here because if you measure how much the flag gives you it brings us exactly to the upper trendline for another possible 3rd touch and possible breakout again or of course rejection You can see my other Doge Chart below where I called the breakout perfectly reaching 100% of the target originating from invesrse H&S I do stress caution and to take profits along the way as doge has been swinging around on dips from bitcoin
Long
by dogdaddevan
DOGE 1HR → A Drop Before the Pop! Here's a Setup for Max Profit.Doge is currently marching forward in a bull channel showing the bears who's boss. Both the Daily and Hourly timeframes are bullish, but don't long yet! Within the 1HR bull channel is an ascending wedge pattern, a bearish signal. Does that mean we short? How do we trade this? Shorting in a bull channel is not ideal, there are more bull candles than bear, making the probability of profit greater for the bulls. We should let the ascending wedge pattern play out, and let the price fall near the bull channel support and bounce. If Doge gives us a strong bull signal and confirmation bars closing on or near their highs, it's reasonable to long. Place a protective stop below the bull channel support or 200EMA and set a take profit target near the previous high of $0.083. Trade Idea Long Entry : $0.0795 Stop Loss: $0.0775 Take Profit: $0.0835 Risk/Reward Ratio: 1:2 Key Takeaways 1. Bull Channel, Bias to Long. 2. Ascending Wedge Within Bull Channel, Bearish Short-Term. 3. Wait for Bull Signal and Confirmation to Long off of Bull Channel Support. 4. Bitcoin Struggling to Break Weekly Resistance, a Market Leading Indicator. 5. RSI at 50.00 and below Moving Average, wait for a sign of support to Long. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
Long
by TraderEngineering
1
DOGE → To the Moon or Doom!? This Chart Makes It Clear.Dogecoin is currently sitting on Bull Channel Support, a moment we need to pay close attention to if we want to enter a trade and maximize our profits. If the price falls through, we should be looking to get short and a bounce means we ought to long. How do we trade this? If you're not in a trade right now, wait. We need to see not only a bull signal bar but a bull confirmation bar as well for optimal justification to enter a long. That means a bull bar closing on or near its high above the bull channel support. Long take profit targets could be the previous high of around $0.087 and the top of the bull channel of around $0.09. Stop loss should be just below the 200EMA. To justify a short, we need to see a bear bar closing on or near its low below the bull channel support, preferably below the 200EMA. That would be our signal bar, the confirmation would be a follow-through bar closing on or near its low below the 200EMA. Reasonable take profits would be the previous support areas around $0.068 and $0.06. Stop loss just above the 200EMA. Key Takeaways 1. Bull Channel, Bias to Long. 2. Currently Testing Bull Channel Support. 3. Wait for Bull Signal and Confirmation to Long. 4. Bitcoin Struggling to Break Weekly Resistance, a Market Leading Indicator. 5. RSI at 42.00 and below Moving Average, wait for a sign of support to Long. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
Long
by TraderEngineering
2
DOGE to $0.10!? A Long Setup for Maximum Profit!DOGE continues to march upwards in its month-long bull run and has its eye on $0.10! If you're not long yet, prepare yourself for a long entry that could return up to 50% profit. To get there, we need to assess our current risk/reward ratio and probability of profit. How do we trade this? In a bull channel, our bias should be toward the upside since the probability of profit is greater. That doesn't mean we long right now at $0.08, our Risk/Reward would be about 1:1. The better long entry is at the bottom of the bull channel around $0.75, which allows for a 1:3 Risk/Reward ratio if we target just shy of $0.09. Not only does the price need to fall to $0.075, but we also need a strong bull signal and confirmation bar for a long entry. The signal bar will have a tail 1/3 to 1/2 the total bar size with the price closing on or near its high. The confirmation bar should be a strong bull bar closing on or near its high. This would be the safest long entry because it secures a higher probability that the price will continue to respect the bull channel. Key Points 1. Bull Channel, Probability of Profit is greater to the upside. Always in Long. 2. Price in Center of Channel, wait for a pullback to enter long. 3. Bitcoin Leading Indicator, Risk of Pullback. 4. RSI around 50.00, wait for it to fall between 35 and 40 to long. 5. Wait for a Strong Buy Signal at $0.075 You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
Long
by TraderEngineering