As always, I like to take a look at the BIG PICTURE.
And for Dogecoin I see a fairly reliable sine wave.
We only skipped one wave at number 5.
Right now, we are at a critical support area, where it decides whether we skip the next sine wave or not.
We could see a basically 100% retracement like we did in the correction of wave 6.
I think O2 is more likely than O1.
And I actually think that if we see O1 and we don’t skip wave 8, that we will at least retrace to the yellow support line.
How To Trade:
Either way if we will see O1 or O2 I will use the same strategy.
I will enter the trade when we break through the 0.786 Fib (orange box)
And I will exit the trade at the 0.618 Fib (green box).
This results in about 55% profit in both cases.
And again I will use trailing stop losses in order to catch tops and bottoms.
More Updates/Details coming over the next couple of days.
And for Dogecoin I see a fairly reliable sine wave.
We only skipped one wave at number 5.
Right now, we are at a critical support area, where it decides whether we skip the next sine wave or not.
We could see a basically 100% retracement like we did in the correction of wave 6.
I think O2 is more likely than O1.
And I actually think that if we see O1 and we don’t skip wave 8, that we will at least retrace to the yellow support line.
How To Trade:
Either way if we will see O1 or O2 I will use the same strategy.
I will enter the trade when we break through the 0.786 Fib (orange box)
And I will exit the trade at the 0.618 Fib (green box).
This results in about 55% profit in both cases.
And again I will use trailing stop losses in order to catch tops and bottoms.
More Updates/Details coming over the next couple of days.
Comment:
This is how I imagine O1 to play out.
Comment:
And this is how I see O2 to play out.
Comment:
This huge flag makes O1 seem very possible again.
Comment:
And this would be the EW count for O1:
Comment:
And there is the pump right on time. With 130% profit so far.
