DOGE - 12% PUMP OR 12% DUMP Inside A Descending TriangleHappy Fiery Friday, Traders!
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
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This is going to be a great start of the weekend!
Let's Get Started.
Chart Timeframe: 1 Day
Char Pattern: Since Dec. 5th of last year, DOGE continued to weaken and has formed a Bearish Descending Triangle.
Local Trend: Upwards
Weekly Trend: Downwards
Overall Trend: Downwards
Price Action: Respecting the 200EMA as RESISTANCE since mid-March and staying below it up until this writing.
DOGE has to break 2 RESISTANCE areas to show it's potential, if it has to prove its worth (if there is any)
Resistance Price Target: $0.07993
Support Price Targets: $0.7377
RSI: Peaking it's head above Bullish Territory. Posing as a Pseudo-Bull.
Never let your guard down.
Always remember to place your Stop Loss.
And watch out for stop-hunting bots, they can liquidate stops and once they've taken out those stops will allow price to continue on its merry little way.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
