Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
After breaking above 0.08 resistance, DOGE traded higher in an aggressive manner to find resistance around 0.1
0.1 is a previous support turned resistance and a strong round number.
🏹 For the bulls to take over from a long-term perspective, we need a daily close above 0.107
In this case, a movement till the next resistance 0.13 would be expected.
Meanwhile, the 0.1 - 0.107 zone is still acting as a resistance and the bears can still kick in (by breaking the last low from H1)
In this case, a movement till the 0.08 support / demand would be expected where we will be looking for new short-term buy setups.
Which scenario do you think is more likely to happen first? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
After breaking above 0.08 resistance, DOGE traded higher in an aggressive manner to find resistance around 0.1
0.1 is a previous support turned resistance and a strong round number.
🏹 For the bulls to take over from a long-term perspective, we need a daily close above 0.107
In this case, a movement till the next resistance 0.13 would be expected.
Meanwhile, the 0.1 - 0.107 zone is still acting as a resistance and the bears can still kick in (by breaking the last low from H1)
In this case, a movement till the 0.08 support / demand would be expected where we will be looking for new short-term buy setups.
Which scenario do you think is more likely to happen first? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich