DOGE - Hourly vs Daily

١٣ يناير ٢٠٢٢

Daily Chart - Bullish Sentiment

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

https://www.tradingview.com/x/dNddBuxs/

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.
  

https://www.tradingview.com/x/9qBTkGLt/

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

https://www.tradingview.com/x/GyVsruFi/

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

Plan B - if short position hits stoploss

https://www.tradingview.com/x/F2w3iPjB/

١٣ يناير ٢٠٢٢

ملاحظة

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.

١٣ يناير ٢٠٢٢

أغلقت الصفقة: تم الوصول لوقف الخسارة

١٤ يناير ٢٠٢٢

ملاحظة

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

Will refine this further :)