Instrument: DOGEUSDT
Time Frame: 1 hour
Exchange: Bitget
Trading Type: Swing Trading
Set DOGE/USDT 1-hour chart as the main perspective.
The line that DOGE recently broke through is a structure that continued the previous downtrend. Therefore, it was a very important zone in the short term.
DOGE, which broke through this Market Structure Shift (MSS), is now creating a new structural change (CHoCH). I've identified two entry points for DOGE at the moment:
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Since the Order Block of the previous MSS failed to sustain the downtrend and was instead broken through, I expect that this area will now act as support.
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If I judge that the first entry point is not safe, I will consider the key level as support if it is broken.
With these two plans in mind, I will devise my DOGE trading strategy.