📈 Strategy: Long Position (Buy)
Entry Zone: $0.263 - $0.268
An entry in this range positions you close to key support, maximizing the risk/reward ratio. Buying near the minimum of the correction is the goal.
Targets (Take Profit - TP):
TP1: $0.284 (Immediate resistance. Here you can
take a partial profit of 25-50% of the position).
TP2: $0.300 (Psychological level and recent high. Main target of the trade).
TP3: $0.340 (Extended target if market momentum supports).
Stop-Loss (SL): $0.259
This level is just below the crucial support and the minimum of the potential double bottom. A 4H candle close below this price would invalidate the bullish thesis and is the signal to exit the trade with a minimal and controlled loss.
Position Management:
Once the price reaches TP1 ($0.284), it is advisable to move the Stop-Loss to your entry price (breakeven). This way, you ensure that the trade can no longer result in a loss, turning it into a "risk-free trade".
Risk/Reward Ratio (RRR):
Risk: From an average entry of $0.265 to an SL of $0.259, you risk ~$0.006 per token.
Reward: Towards TP2 of $0.300, the potential profit is ~$0.035 per token.
Ratio: Approximately 1:5.8. This is an extremely favorable ratio, as you risk 1 dollar to potentially gain almost 6.
"Team, the opportunity in DOGE is clear. While the short-term market shows fear, key indicators like the RSI in oversold territory and strong buying by whales give us a high probability buy signal in the $0.263 zone. Our plan is simple: enter close to support, set a tight stop-loss to protect our capital, and aim for the resistance at $0.30. The risk is defined and the profit potential is significant! As always, trade smart and manage your risk."