DOGE has been nothing short of phenomenal these last few weeks. It has gained over 350% during the previous seven trading days. It is only befitting that it has lost 50% so quickly after such a tremendous extension higher. The chart shows this critical % decrease through the use of Gann box squared at the rate of 0.0035 per 2 hours of trading, the current rate of change that I was able to decipher. It seems to be in an excellent position to continue its trajectory higher; however, if the crypto spectrum goes through a correction phase, DOGE might correct further towards the 75% decline point, but that is yet to be seen during the upcoming few weeks. The chart shows two potential long entries with detailed risk profiles of not less than 4R return. If there's anything that I am missing, do drop a line in the comments section. Best of luck, and stay safe!
Comment:
DOGEUSD, 30min
Hit the spot and now reduction of exposure ensues. A good 60%+ run so far, not surprising to see some folks square off exposure here.
Comment:
DOGEUSD, 30
Hit the forecasted target for the first extension.
Comment:
4R return on the 1st entry, 2nd entry currently @ +3R.
Trade closed: target reached:
DOGEUSD, 120
Second entry closed with +9R. Combined result for the two highlighted entries is +13.5R.
