🔍 Technical Analysis Summary
Pattern: Bearish Flag (Bearish Continuation)
Resistance Zone: Around 0.25945 USDT
Price Channel: Price is consolidating inside a descending flag channel after a sharp upward move.
Potential Breakdown: If price breaks below the lower trendline of the flag, continuation to the downside is expected.
📉 Trade Setup (Short Position)
Entry Point: Around 0.22534 USDT (at or just below the flag's lower trendline to confirm breakdown)
Stop Loss: Around 0.23581 USDT (above the upper flag boundary for invalidation)
Take Profit Targets:
o TP1: 0.20573 USDT (first strong support zone)
o TP2: 0.18691 USDT (second strong support zone)
✅ Risk-Reward Ratio Analysis
Entry: 0.22534
Stop Loss: 0.23581 → Risk: ~1.05 cents
TP1: 0.20573 → Reward: ~1.96 cents → RR ≈ 1.86:1
TP2: 0.18691 → Reward: ~3.84 cents → RR ≈ 3.66:1
📌 Conclusion
This bearish flag setup on DOGEUSDT presents a strong opportunity for a short position. A confirmed breakdown below the flag pattern could lead to a test of the strong support zones marked. It's a good setup with a favorable risk-reward ratio, especially if TP2 is reached.
Pattern: Bearish Flag (Bearish Continuation)
Resistance Zone: Around 0.25945 USDT
Price Channel: Price is consolidating inside a descending flag channel after a sharp upward move.
Potential Breakdown: If price breaks below the lower trendline of the flag, continuation to the downside is expected.
📉 Trade Setup (Short Position)
Entry Point: Around 0.22534 USDT (at or just below the flag's lower trendline to confirm breakdown)
Stop Loss: Around 0.23581 USDT (above the upper flag boundary for invalidation)
Take Profit Targets:
o TP1: 0.20573 USDT (first strong support zone)
o TP2: 0.18691 USDT (second strong support zone)
✅ Risk-Reward Ratio Analysis
Entry: 0.22534
Stop Loss: 0.23581 → Risk: ~1.05 cents
TP1: 0.20573 → Reward: ~1.96 cents → RR ≈ 1.86:1
TP2: 0.18691 → Reward: ~3.84 cents → RR ≈ 3.66:1
📌 Conclusion
This bearish flag setup on DOGEUSDT presents a strong opportunity for a short position. A confirmed breakdown below the flag pattern could lead to a test of the strong support zones marked. It's a good setup with a favorable risk-reward ratio, especially if TP2 is reached.
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Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.