Hey there all...
I believe we've officially started the bull-run, as long as we don't dip below the beginning of Wave 1. I think this is the first impulse wave. Let's be honest, we are seeing ATH's everywhere! DOGE has been in a prolonged accumulation phase, but it is an exponential grower, and appears to be very patterned.
Let me say this first. I did this based on what I believe DOGE will do. Do your own research! I am not your advisor, nor do I pretend to be.
Now that we've got that out of the way...
I did this based on using the averages of the most common Fib Retracement & Extension Ranges- a middle-of-the-road analysis, if you will. Combined with current support and resistance levels, and a little "beyond technical analysis" sprinkled in, I came up with this.
If this is Wave 1, it is only wave 1 if Wave 2 does not retrace beyond it. Wave 2 will most commonly retrace between .23 & .62, but overall, it can retrace to the .88. DOGE is finicky like that, and although .88 is uncommon, it's not out of the question. I set the retracement in the middle of .23-.62.
I believe Wave 3 will then reach between 1.61 & 2.61. Wave 3 extends there 75% of the time, statistically speaking. I marked the middle as my extension.
I retraced Wave 4 to the middle of .38-.50, again the most common range, and the Wave 4 rule.
Finally, I extended Wave 5 to the 2.61, well, because I think that's what the DOGE will do (the DOGE and I have a pretty tight relationship)- there's my sprinkling of "beyond technical analysis". Most of my analysis, lately, has led me to believe it's heading to .45 before it's ready to boom again, and it will need a decent correction in order to do so. The support at .43 further reinforces that target.
Therefore, my Green lines are "target ranges". I didn't add all of the retracement lines, because quite frankly, I didn't feel like drawing all of it. At the end of the day, you have to watch the charts- this is the idea I'm going with. We'll see what happens.
Don't ask me about timing though! The DOGE definitely works on it's own time- and it's timing seems very difficult to predict- that's a full-time job with the DOGE all in itself!
But what do I know? Just a nobody tryin' to make a buck.
Good luck and happy trading everyone!
I believe we've officially started the bull-run, as long as we don't dip below the beginning of Wave 1. I think this is the first impulse wave. Let's be honest, we are seeing ATH's everywhere! DOGE has been in a prolonged accumulation phase, but it is an exponential grower, and appears to be very patterned.
Let me say this first. I did this based on what I believe DOGE will do. Do your own research! I am not your advisor, nor do I pretend to be.
Now that we've got that out of the way...
I did this based on using the averages of the most common Fib Retracement & Extension Ranges- a middle-of-the-road analysis, if you will. Combined with current support and resistance levels, and a little "beyond technical analysis" sprinkled in, I came up with this.
If this is Wave 1, it is only wave 1 if Wave 2 does not retrace beyond it. Wave 2 will most commonly retrace between .23 & .62, but overall, it can retrace to the .88. DOGE is finicky like that, and although .88 is uncommon, it's not out of the question. I set the retracement in the middle of .23-.62.
I believe Wave 3 will then reach between 1.61 & 2.61. Wave 3 extends there 75% of the time, statistically speaking. I marked the middle as my extension.
I retraced Wave 4 to the middle of .38-.50, again the most common range, and the Wave 4 rule.
Finally, I extended Wave 5 to the 2.61, well, because I think that's what the DOGE will do (the DOGE and I have a pretty tight relationship)- there's my sprinkling of "beyond technical analysis". Most of my analysis, lately, has led me to believe it's heading to .45 before it's ready to boom again, and it will need a decent correction in order to do so. The support at .43 further reinforces that target.
Therefore, my Green lines are "target ranges". I didn't add all of the retracement lines, because quite frankly, I didn't feel like drawing all of it. At the end of the day, you have to watch the charts- this is the idea I'm going with. We'll see what happens.
Don't ask me about timing though! The DOGE definitely works on it's own time- and it's timing seems very difficult to predict- that's a full-time job with the DOGE all in itself!
But what do I know? Just a nobody tryin' to make a buck.
Good luck and happy trading everyone!
