DOGEUSD Daily Outlook: Signs of Accumulation?
Thanks for taking the time to check out my analysis on DOGEUSD. Let’s dive in.
Most traders are familiar with moving averages and crossover signals — and while these are often viewed as lagging indicators, I’ve found that using multiple moving averages together can offer much clearer insights, especially when paired with other supporting tools.
On this chart, I’m using a combination of simple moving averages (SMA) and exponential moving averages (EMA). I’ll break down the specific MAs I'm using in a follow-up post, but for now, I want to highlight what the moving average structure is showing us right now — and how it compares to similar price action in the past.
Take a look at the yellow arrows on the chart:
The arrow on the right marks the current price position relative to the moving averages.
The arrow on the left points to a similar setup from the past.
As the old saying goes: “History doesn’t repeat itself, but it often rhymes.”
The last time DOGEUSD price action sat in this zone, we saw about 45 to 50 days of consolidation and chop before the market broke into a strong parabolic move higher. Projecting that same timeframe forward puts us somewhere around mid-June.
While nothing is guaranteed in the markets, this chart suggests that accumulation around this zone could present a favorable risk-reward setup for a potential run in the near to mid-term.
My Approach:
I began accumulating a position today and plan to add on pullbacks if the opportunity presents itself.
As always, this is not financial advice — just sharing my personal outlook and strategy. Wishing you all success out there — stay patient, stay sharp.
Thanks for taking the time to check out my analysis on DOGEUSD. Let’s dive in.
Most traders are familiar with moving averages and crossover signals — and while these are often viewed as lagging indicators, I’ve found that using multiple moving averages together can offer much clearer insights, especially when paired with other supporting tools.
On this chart, I’m using a combination of simple moving averages (SMA) and exponential moving averages (EMA). I’ll break down the specific MAs I'm using in a follow-up post, but for now, I want to highlight what the moving average structure is showing us right now — and how it compares to similar price action in the past.
Take a look at the yellow arrows on the chart:
The arrow on the right marks the current price position relative to the moving averages.
The arrow on the left points to a similar setup from the past.
As the old saying goes: “History doesn’t repeat itself, but it often rhymes.”
The last time DOGEUSD price action sat in this zone, we saw about 45 to 50 days of consolidation and chop before the market broke into a strong parabolic move higher. Projecting that same timeframe forward puts us somewhere around mid-June.
While nothing is guaranteed in the markets, this chart suggests that accumulation around this zone could present a favorable risk-reward setup for a potential run in the near to mid-term.
My Approach:
I began accumulating a position today and plan to add on pullbacks if the opportunity presents itself.
As always, this is not financial advice — just sharing my personal outlook and strategy. Wishing you all success out there — stay patient, stay sharp.
Thanks for you time! Please like and follow!
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.
Thanks for you time! Please like and follow!
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.