DOGE is currently forming a symmetrical triangle pattern on the 15-minute timeframe, indicating compression and a potential breakout soon. Market structure shows clear signs of bearish momentum.
🔹 Smart Money Insights:
✅ Bearish CHoCH indicates a market structure shift to the downside.
✅ Break of Structure (BoS) confirms bearish continuation.
📉 Price is respecting the descending trendline and creating lower highs.
🟫 Two major Bearish Order Blocks identified:
OB #1: 0.22651 – 0.22804 ✅
OB #2: 0.23155 – 0.23576 ❌ (farther, may act as mitigation zone if price breaks above the first)
🔹 Current Setup:
Price is approaching the first bearish OB, aligning with the descending trendline and EMAs, making it a strong confluence zone for a potential reversal.
📌 Trade Setup:
Entry: 0.22652
Stop Loss: 0.22815
Take Profit: 0.21757
Risk-to-Reward Ratio (RRR): ~5.4R+
🧠 Idea: If price taps into the OB and rejects with bearish confirmation, this setup could offer a clean short opportunity with high RRR. A break below the triangle support could further accelerate downside movement.
Trade closed: stop reached
trade closed.
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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.
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.