Today's DOGS analysis indicates a long-term (LONG) trend according to the available data. However, it should be noted that the current price is not provided in the available information. I will present you three suitable trading strategies based on the available technical indicators:
Strategy 1: Breakout Strategy:
- Trend: Long term (LONG)
- Entry price: Wait for the previous higher closing price (highest price recorded in the past) to be broken and buy after the breakout.
- Target price: The price that is equal to the previous high of the breakout can be targeted.
- Stop price: A stop loss can be placed shortly below the lowest price recorded in the past.
Strategy 2: Breakdown Strategy:
- Trend: Long term (LONG)
- Entry price: Wait for the previous low close price (lowest price recorded in the past) to be broken and buy after the breakout.
- Target price: The price that is equal to the previous high of the breakout can be targeted.
- Stop price: A stop loss can be placed close to the highest price recorded in the past.
Strategy 3: Reversal Trading Strategy:
- Trend: Long term (LONG)
- Entry price: Wait for a reversal candlestick pattern to form (such as a hammer or doji candlestick pattern) and buy after the next candle closes.
- Target price: The price that is equal to the previous high of the bounce can be targeted.
- Stop price: A stop loss can be placed shortly below the lowest price recorded in the past.
These are three suitable trading strategies based on the current trend and available technical indicators.
