Hello traders .
let's start with the daily time frame :
in the daily time frame , we could easily see DOGE price is in the triangle pattern , but in the another point of view we can count this as a W pattern. however it's not important to how you consider this pattern , the matter is how we can trade based on it ; so let's talk about more details in the chart :
one of the important level that we should pay attention to it , is the daily structure (daily resistance) at the 0.27$ , in my point of view if DOGE price could close daily candle above the 0.27$ level and retest it as a new support structure , we could see price pump to the possible price targets that i will talk about them in this idea , so stick with me until the end of this idea 🙏🚀 .
so where is the potential price targets for this pattern ?
in the picture above you can see different price level , but where is the most probable price target ?
the first price target which shown by the orange line is about the W pattern , and you can clearly see it's very alignment with the 0.5 fib level and also the weekly structure (red box) ; so you can count this level as very strong resistance area.
the second price target is about the triangle pattern , and this level alignment with the 0.618 fib golden ratio , and as every trader know , this fib level is very strong area .
but let's talk about the 4H time frame to find more details :
in the 4H chart we could see a nice flag pattern , and as you see after breaking the 4H structure ( yellow box ) price comes back to retest it as support , if this pattern break to the upside we would expect this break out to lead the breaking the triangle pattern ; but if this pattern breaking to the downside , as long as price hold above the previous low we can say , still there is possibilities to see price pump , but if price lose the momentum we can expect more accumulation in the triangle pattern , so never rush into the trade , and wait for the best opportunity.
I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for watching my ideas
let's start with the daily time frame :
in the daily time frame , we could easily see DOGE price is in the triangle pattern , but in the another point of view we can count this as a W pattern. however it's not important to how you consider this pattern , the matter is how we can trade based on it ; so let's talk about more details in the chart :
one of the important level that we should pay attention to it , is the daily structure (daily resistance) at the 0.27$ , in my point of view if DOGE price could close daily candle above the 0.27$ level and retest it as a new support structure , we could see price pump to the possible price targets that i will talk about them in this idea , so stick with me until the end of this idea 🙏🚀 .
so where is the potential price targets for this pattern ?
in the picture above you can see different price level , but where is the most probable price target ?
the first price target which shown by the orange line is about the W pattern , and you can clearly see it's very alignment with the 0.5 fib level and also the weekly structure (red box) ; so you can count this level as very strong resistance area.
the second price target is about the triangle pattern , and this level alignment with the 0.618 fib golden ratio , and as every trader know , this fib level is very strong area .
but let's talk about the 4H time frame to find more details :
in the 4H chart we could see a nice flag pattern , and as you see after breaking the 4H structure ( yellow box ) price comes back to retest it as support , if this pattern break to the upside we would expect this break out to lead the breaking the triangle pattern ; but if this pattern breaking to the downside , as long as price hold above the previous low we can say , still there is possibilities to see price pump , but if price lose the momentum we can expect more accumulation in the triangle pattern , so never rush into the trade , and wait for the best opportunity.
I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for watching my ideas