DOGE USD Multi Time-frame Analysis (Weekly and Daily charts in the comment section).
Trade Plan - Better to wait and short.
1) Long @ 0.0636 ( Fib retracement + Trendline Support) and Take Profit @ 0.0674 (70%) and 0.0681 (30%). SL closing below 0.0632
2) Short @ 0.0670 - 0.0680 (Fib Retracement Level + Trendline Resistance) Take Profit channel bottom 0.0545 - 0.0528
Weekly -
Phase - Downtrend (Series of LH's and LL's)
Major Trendline Breakdown Retesting
Fib Extension Level "0.07511 in play
Daily -
Trading in Descending Parallel channel
Hourly -
Major Trend Downwards
Minor Trend upwards
From gain (LL TO LH) Retraced to Fib level 0.618 of previous leg. Now 0.618 level of recent leg is 0.0674 - Short around 0.0670 - 0.0680.
Trade Plan - Better to wait and short.
1) Long @ 0.0636 ( Fib retracement + Trendline Support) and Take Profit @ 0.0674 (70%) and 0.0681 (30%). SL closing below 0.0632
2) Short @ 0.0670 - 0.0680 (Fib Retracement Level + Trendline Resistance) Take Profit channel bottom 0.0545 - 0.0528
Weekly -
Phase - Downtrend (Series of LH's and LL's)
Major Trendline Breakdown Retesting
Fib Extension Level "0.07511 in play
Daily -
Trading in Descending Parallel channel
Hourly -
Major Trend Downwards
Minor Trend upwards
From gain (LL TO LH) Retraced to Fib level 0.618 of previous leg. Now 0.618 level of recent leg is 0.0674 - Short around 0.0670 - 0.0680.