Doge right now, cold look at the charts.
To analyze the DOGE/USDT chart using the ICT (Inner Circle Trader) method, we need to focus on key elements such as market structure, liquidity pools, order blocks, and fair value gaps (FVGs). Here’s a concise breakdown of the analysis:
Market Structure:
1. Trend Identification: The chart shows an uptrend with higher highs and higher lows.
2. Key Levels:
Recent high at around 0.21936
Current price around 0.19770
Support levels near the 0.15528 mark (past consolidation)
Liquidity Pools:
Buy-side Liquidity: Above recent highs around 0.21936
Sell-side Liquidity: Below recent lows around 0.18929
Order Blocks:
Bullish Order Block: Look for a significant down candle before the recent bullish move. Potentially around the 0.15528 level where previous consolidation occurred.
Bearish Order Block: The area around 0.21936 where the price sharply reversed.
Fair Value Gaps (FVGs):
An FVG might be seen if there’s a significant gap between candles without overlapping price ranges. Identify such areas in recent uptrend moves.
Patterns and Accuracy:
Breaker Blocks: These occur when a previous high/low is broken and then used as support/resistance. The high around 0.20200 (24h Max) can act as a breaker.
Order Blocks and FVGs: These are reliable about 60-70% of the time, especially when confluence with other signals (e.g., support/resistance levels, liquidity pools).
Entries for Possible Trades:
Long Entry:
Ideal Entry: Near the bullish order block around 0.15528-0.16000, especially if the price shows bullish signs like reversal candlesticks or bullish divergence.
Alternate Entry: If price retraces to around 0.17076 (MA50) and shows bullish momentum.
Short Entry:
Ideal Entry: Near the bearish order block or resistance at 0.21936, particularly if there is bearish divergence or rejection candlesticks.
Alternate Entry: If price fails to break the recent high of 0.20200 and starts forming lower lows.
Conclusion:
Long Trade: Look for retracement to identified support levels or bullish order blocks and confirm with bullish price action.
Short Trade: Target resistance levels or bearish order blocks with bearish confirmation signals.
Keep the market sentiment and news in mind, as they can significantly impact price movements. Always use stop-loss orders to manage risk effectively.
