DOGE long trade set up
DOGE is consolidating inside the apex of an ascending triangle (bullish) and a break out is imminent.
With bullish news and media hype from dogeday 4/20, I expect us to break to the upside.
But if you want a simple,relatively safe trade set-up you can use this technique.
Do not place a long at the break of the triangle, but wait for the retest of the previous resistance flipped support , and a close above the previous rejection point. This is mapped by the blue arrows and white line. Note that the breakout may differ in strength and these lines were drawn only to represent the strategy of the trade.
Break out
Retest
Close above previous rejection point.
Go long
Be safe out there and manage your risk
Never leverage more than 5% of your portfolio
Use wide leverage with doge.
Take profits early
Don’t lose money🙂
With bullish news and media hype from dogeday 4/20, I expect us to break to the upside.
But if you want a simple,relatively safe trade set-up you can use this technique.
Do not place a long at the break of the triangle, but wait for the retest of the previous resistance flipped support , and a close above the previous rejection point. This is mapped by the blue arrows and white line. Note that the breakout may differ in strength and these lines were drawn only to represent the strategy of the trade.
Break out
Retest
Close above previous rejection point.
Go long
Be safe out there and manage your risk
Never leverage more than 5% of your portfolio
Use wide leverage with doge.
Take profits early
Don’t lose money🙂
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