If you want to trade Futures with $DOGS right now. Here is the detailed strategy:
⭐ Trend:
- Short-term: Down (price below both MA7 and MA25, strong selling pressure).
- Support: 0.0006850 - 0.0006880 (if broken, the possibility of further decline).
- Resistance: 0.0006970 - 0.0007000 (strong resistance if there is a bounce)
⭐ Strategy:
1. Short:
- Entry condition: Wait for the price to test the resistance area 0.0006970 - 0.0007000.
- Observe weak candles (for example: a red candle with a long upper wick or rejecting to break the resistance).
- Entry point: In the resistance area 0.0006970 - 0.0007000.
- Take Profit:
- First target (TP1): 0.0006850.
- Second target (TP2): 0.0006700 if selling pressure increases significantly.
- Stop Loss: Above the area 0.0007030 - 0.0007050, because this is where the resistance is likely to be broken.
2. Long:
- Entry condition: Wait for the price to test the support area 0.0006850 - 0.0006880 and observe bullish candles (green candle with a long lower wick or increasing volume).
- Entry point: In the support area 0.0006850 - 0.0006880.
- Take Profit:
+ First target (TP1): 0.0006970 (MA7 area).
+ Second target (TP2): 0.0007030 if buying pressure is strong.
- Stop Loss: Below 0.0006830, as breaking support will lead to a deeper price drop.
⭐ NOTE
1. Monitor lower time frames (5-15 minutes): To identify clearer entry signals.
2. Observe trading volume: If volume increases significantly when the price breaks support or resistance, this is a confirmation signal.
⭐ Summary: If the downtrend continues, Short at the resistance area 0.0006970 - 0.0007000. If the price holds the support area 0.0006850, you can Long to catch a bounce.
Wishing you success <3
