Hello Traders 🐺
Hope you're doing well!
We’re back with another idea — this time a clean trade setup on DOGE, so make sure to read this one all the way through 👇
As you can see on the chart, price is currently breaking above the descending channel, which forms our falling wedge resistance line — a bullish signal so far. But we need to pay close attention to the next key resistance area around $0.19460, which lines up with the previous high and the red resistance zone.
🔹 So, What’s the Plan?
You’ve got two solid options:
✅ Wait for confirmation.
Look for a clear breakout and at least two 4H candles closing above the resistance line. If price then retests that line as new support, it’s a good spot to enter a long position.
🎯 Stop-loss: Just below the current low at $0.12500
🎯 Target: The top of the wedge — which makes sense, since it also lines up with a heavy resistance zone.
📌 Don’t forget to take partial profits near the top and move your stop-loss to breakeven to secure the trade!
And as always, remember our golden rule:
🐺 Discipline is rarely enjoyable, but almost always profitable. 🐺