DOGE -- throwing some at it to go and stay long
Zaktualizowano
Trying to apply my strategy used in stock equities, focusing on Supply and Demand Zones, Fib Retrace Levels, and Elliot Wave counts.
Simple set up here, for me at least and how I'm looking at it. Per my count where I started, after all time highs, price came down right to the .618 fib retrace level around 0.0067094. This area aligns well with a Demand Buy Zone shown in the grey box. This would represent a wave one up (blue Roman numerals in circles) to all time highs, and currently in a wave two retrace represented by the pink A B C count.
Above this level I'll maintain bullish outlook, especially with the wave 3 projection (blue Roman numerals in circles) having a price target around 0.046!
Gameplan:
- potential Wave 3 can start here; the explosive wave!
- currently bought into the crypto and, with price looking like it can consolidate more around this current price and if it holds/stays above 0.0066200, I'll continue to slowly put more money towards it.
- always going to keep exposure at this because you just never know what can happen! I can live with a few dollar loss, but would be kicking myself if I missed a massive surge!
Simple set up here, for me at least and how I'm looking at it. Per my count where I started, after all time highs, price came down right to the .618 fib retrace level around 0.0067094. This area aligns well with a Demand Buy Zone shown in the grey box. This would represent a wave one up (blue Roman numerals in circles) to all time highs, and currently in a wave two retrace represented by the pink A B C count.
Above this level I'll maintain bullish outlook, especially with the wave 3 projection (blue Roman numerals in circles) having a price target around 0.046!
Gameplan:
- potential Wave 3 can start here; the explosive wave!
- currently bought into the crypto and, with price looking like it can consolidate more around this current price and if it holds/stays above 0.0066200, I'll continue to slowly put more money towards it.
- always going to keep exposure at this because you just never know what can happen! I can live with a few dollar loss, but would be kicking myself if I missed a massive surge!
Uwaga
Doge coin play worked out pretty well here. Sometimes it's hard to try and justify in your mind the potential price extension an underlying can get to but at the end of the day, as long as you stick to your rules, consistency generally will follow!Took some off from this trade to lock in profits. Will look for some pull back to re-enter some more potentially.
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