DOGE/USDT: Triangle Breakout Points to 0.30000

by Oct 18, 2021Setups

DOGE/USDT Forecast

DOGE had made a small triangle in the several few days and today we have a breakout to the upper side.
The Pair was making indecision candles in the last few days next to 0.23333 support and on Friday the pair formed a bullish Pin bar.

Even if the breakout to the upside has happened it is good to wait until it is confirmed.

DOGE_USDT - Triangle pattern 18.10.2021

The confirmation could happen when the pair reverses from the area around 0.26736 resistance.
This resistance pair was respected earlier so we can expect some selling pressure.

If the retrace happens the support should be around 0.24000 – 0.25000 which is a confluence of support
between downtrend channel, uptrend channel and horizontal support.

From there we should wait if the price forms a bullish price action signal as bullish Pin bar or engulfing candle.

Stop loss should be placed below triangle low, around 0.21170.

Profit target is next to 0.30000, but to be on the safe side 0.29430 is more likely as a best exit option.

If the price closes above 0.26736 on a daily basis we will have a bullish overview of the pair so we can watch for the bullish opportunities.

Harmonic Patterns Cheat Sheet

All Harmonic Patterns on one place with important tips for trading.

“Disclosure: Some of the links in this post are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. This does not cost you anything extra on the usual cost of the product, and may sometimes cost less as I have some affiliate discounts in place I can offer you”

Harmonic Patterns Cheat Sheet

All Harmonic Patterns on one place with important tips for trading.

Price Action Analysis

With this PDF you will have step by step guide how to analyse harmonic patterns detected by the Harmonics.app scanner

Harmonic Education

Main Trading Guide

1. Harmonic Patterns in Forex
2. Harmonic Scanner
3. Trading Harmonic Patterns
4. Harmonic Pattern Success Rate

0 Comments

Disclaimer: Any Advice or information on this website is General Advice Only – It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Harmonics.app, it’s employees, directors or fellow members. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot Forex, CFD’s, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in Forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.

Privacy Preference Center