As always, I like to take a look at the BIG PICTURE.
And for Dogecoin I see a fairly reliable sine wave.
We only skipped one wave at number 5.
Right now, we are at a critical support area, where it decides whether we skip the next sine wave or not.
We could see a basically 100% retracement like we did in the correction of wave 6.
I think O2 is more likely than O1.
And I actually think that if we see O1 and we don’t skip wave 8, that we will at least retrace to the yellow support line.
How To Trade:
Either way if we will see O1 or O2 I will use the same strategy.
I will enter the trade when we break through the 0.786 Fib (orange box)
And I will exit the trade at the 0.618 Fib (green box).
This results in about 55% profit in both cases.
And again I will use trailing stop losses in order to catch tops and bottoms.
More Updates/Details coming over the next couple of days.
And for Dogecoin I see a fairly reliable sine wave.
We only skipped one wave at number 5.
Right now, we are at a critical support area, where it decides whether we skip the next sine wave or not.
We could see a basically 100% retracement like we did in the correction of wave 6.
I think O2 is more likely than O1.
And I actually think that if we see O1 and we don’t skip wave 8, that we will at least retrace to the yellow support line.
How To Trade:
Either way if we will see O1 or O2 I will use the same strategy.
I will enter the trade when we break through the 0.786 Fib (orange box)
And I will exit the trade at the 0.618 Fib (green box).
This results in about 55% profit in both cases.
And again I will use trailing stop losses in order to catch tops and bottoms.
More Updates/Details coming over the next couple of days.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.