"Dogecoin (DOGE) - Swing Trading Strategy"
👨💻 This strategy focuses on short- to medium-term trades using technical indicators and social sentiment.
🔑 Key tools include the 9-day and 21-day Exponential Moving Averages (EMA), Relative Strength Index (RSI), and MACD.
• Entry Conditions --->>>
RSI below 35 (oversold)
MACD bullish crossover
Price closes above 9-day EMA
• Exit Conditions --->>>
RSI above 65 (overbought)
Price closes below 9-day EMA
• Risk Management --->>>
Risk no more than 2% per trade
Set stop-loss 7% below entry
Take profits at +15%, fully exit at +30%
📉 Monitor sentiment closely. Dogecoin often reacts to social media, especially platforms like Twitter or news related to public figures. Tools like Google Trends and Lunar crush help track hype cycles.
⚠️ Always backtest this strategy using historical data before live trading. Practicing with a demo account is recommended to refine timing and execution without risking capital and always DYOR.
