Foreign Dodge has moved up quite Um significantly in the last few days in Line with some other coins Um Doge however did outperform some of Them with those who need to know that It's a highly volatile coin and it has Been range bound so far So it has been in this broader Channel That we identified in the previous Videos and I did update before Um that as long as doge is range bound It can of course put in the blue count So that we have here based on the elite Wave count or wave one A wave two this was away three We came down in wave four so all of that In a diagonal pattern and then this was An A B And then we could put in the C wave or The fifth wave meaning that all of these Can be counted as three wave structures Because it can be considered a so-called Diagonal pattern now with diagonal Patterns they are not they are never Very reliable yeah That's usually why if you want to have a High probability trade you need to buy In support areas now we had a very clear Support area down here when we hit the Channel support or you have to wait Until we have all five waves in so that We make a fifth wave which should Ideally get above the third one so above
16 cents Um And then it would come back in a wave Two because these five waves yeah they Would put in a wave one as a leading Diagonal and then you can wait for the Wave 2 retracement to buy in because Then you have a higher probability setup For a following third wave okay So this is currently of course one Possibility it has become more likely That we have broken above the previous Swing High But It is still possible that we're putting In the red count so it is very important To know from which from which level does The red count basically get unlikely And it already got less likely when we Hit or moved above the nine and a half Cent level when we hit or when we moved Above This wave for a high Um but it's still possible that we have This as a way for and would come down in A wave 5 afterwards why is that still Possible well If we count this as a one two three yeah From the high to the low then this could Still be a wave four and we could come Down in the fifth wave afterwards The wave four Can go And I have drawn the fips here it can go All the way up to the fifty percent flip
Level it actually only reached the 38.2 Percent flip level which is normally the Ideal retracement for a fourth wave So it's reached a 10 and a half cent Level yes surely it can go higher but as Soon as it gets above 11 and a half Cents I think The red count is very very unlikely and I'm going to take it out because then We're also cutting into the wave one Price range then I would go with the Blue count okay There's still another possible count So that's what I mean there's a lot of Uncertainty in this in this chart here What we could also have but that would Be a very bearish count is that from the Top all of this was a wave one down this C is a wave two And that could retrace all the way up to Around Um let me just Look at No one second I told you something uh One second I think I made a mistake here With the fips Yeah okay So here yeah I had the I had the flips Drawn wrong so for the red count We have reached the 50 flip level here So this is the maximum wave four should Do if it gets above that level now it Will basically get very unlikely there's Still a way for it hasn't substantially
Broken it and above 11 and a half cents It will be invalidated okay so just that You know that okay But if we draw the tips like this this Can be this other count the bearish Count this was a wave one moving up in The wave two And we would come down and wave three Afterwards away four and away five that Would be a very bearish count That is likely or possible Um and deserves consideration As long as we stay below 14 cents Because the Wave 2 can retrace All the way up to the 78.6 flip level Easily you know at 14 cents so we just Shouldn't forget about this one Um The point is In terms of trade setups the trade setup Was for me down here yeah this would Have been an entry point for anybody who Wanted to trade this because this is the Support area jumping on the train now For me personally would be a bit too Risky because it can reverse at any time Um Let me take a look it's not overport yet On The Daily but on the four hour it's Now overboard yeah so what I would I Mean anybody who wants to trade this and It's entirely up to you but if I wanted To trade this Um now I wouldn't jump on the train now
I would try to wait for a retracement Any retracement see how it's doing there Not trying to rush here because we had a Few green candles and um The dog had a good day right so again Important to understand just the key Pivot Points the key decision points Here it is at the moment this 10 and a Half cent level that is very relevant And we haven't substantially broken it Yet but if we get above that 10.3 level Substantially then the way forward will Get very unlikely and gets invalidated Above 11.5 cents it could then still be The Wave 2 as a bearish count that can Go up to 14 cents and the Buddhist count Is possible as well Um and this should then if it continues Um put in like 15 16 cents right what Does that tell you it tells you there's A lot of uncertainty in the in the County in the market Um because different counts are possible There's a bearish count there's a Bullish count Um The time to go in anybody want to trade Things from an Elliott wave point of View would have been down here in the Support area where we hit Channel Support yeah not in the middle of the Channel you would normally not do that Necessarily Um
Even now if anybody wants to go in I Mean it might be worth waiting for Retracement yeah Um or and that is The chat where you get a chance for high Probability setup is to wait for a way a Possible way five to finish yet just not To do anything right now just to wait if Away 5 actually is going to be put in Place Which would complete that White Wave one And then going in scaling into the wave Two because if we put this in place so If we let's say make this Blue Wave 5 Complete this wave one then the Wave 2 Retracement which would hopefully be in Three waves then would give you a good Idea that a Wave 3 to the upside is Coming So any if you have any diagonal pattern My view is It's always worth to wait for five waves To be put in because the diagonal Pattern is never a very reliable pattern There are much better charts out there But anybody who is interested in Doge I Mean I said that before with Dogecoin You always have to be prepared that it Does some UNS you know un well let's say Sudden moves which you know sometimes Out of the blue it just spikes Therefore having a little bit of doji in There might not be a bad idea because It's literally an energy Bunny and it
Can just jump Um as response to a tweet yeah okay That's my update about Deutsch hope you Liked the update if you did please hit The like button leave a comment and Subscribe and if you really like the Content then please check out the Channel membership thanks a lot for Watching bye