DOGE - Hourly vs Daily

Daily Chart - Bullish Sentiment

• Broken resistance
  
• Broken declining pivot high trendline
  
•  Bullish Gartley pattern setup - but already have run up to target 1
  

Hourly Chart - Mildly bearish sentiment

• Seems to be rejecting under horizontal resistance
  
• High volume on previous extreme candle - may signify temporary exhaustion
  
• Bearish Harmonic Patterns in play
  
• Support ahead from both trend lines and horizontal support level.
  

Trading plan
Short position followed by long position as shown in the chart below.

You can skip short position and just place a limit order for retest.

Plan B - if short position hits stoploss

Bình luận:

Plan A failed. Switch to plan B, long position with stoploss set to 0.1685. Will revise as and when it makes new higher lows.

Đóng lệnh: dừng lỗ

Bình luận:

Looking back, it was was really good plan. Only mistake was setting stoploss too tight - specially for short trade.

Will refine this further :)