✅ I just opened a short at $DOGE #Dogecoin
I share with you the summary of my analysis behind the trade.
🔍 What did I see on the chart?
— In 4H, the price was falling sharply until it reached the area of $0.117, a relevant low that should act as support
— However, the price breaks that area downwards, retests it, and clearly rejects it, confirming that it now acts as resistance
📉 In 15M:
— The break + retest + formation of rejection is seen more clearly, and the price begins to form a new bearish sequence
— My entry was after seeing that the price fails to recover the level that should have been a support and now changes its bias to resistance, and starts to break the low left after the break of 0.0117
🎯 SL: located above the new resistance, at $0.117
📉 TP: projected at $0.105, previous relevant support area
What do you think of this set up?
#TradingSignals #TradingCommunity
I share with you the summary of my analysis behind the trade.
🔍 What did I see on the chart?
— In 4H, the price was falling sharply until it reached the area of $0.117, a relevant low that should act as support
— However, the price breaks that area downwards, retests it, and clearly rejects it, confirming that it now acts as resistance
📉 In 15M:
— The break + retest + formation of rejection is seen more clearly, and the price begins to form a new bearish sequence
— My entry was after seeing that the price fails to recover the level that should have been a support and now changes its bias to resistance, and starts to break the low left after the break of 0.0117
🎯 SL: located above the new resistance, at $0.117
📉 TP: projected at $0.105, previous relevant support area
What do you think of this set up?
#TradingSignals #TradingCommunity