Polkadot Elliott Wave technical analysis [Video]
|Elliott Wave analysis TradingLounge daily chart.
Polkadot/U.S. dollar (DOT/USD)
DOT/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Flat.
Position: Wave C.
Direction next higher degrees: Wave (II) of impulse.
Wave cancel invalid level.
Details: Wave II is equal to 61.8% of wave I at 5.225.
Polkadot/US Dollar trading strategy
Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again.
Polkadot/US Dollar technical indicators
The price is above the MA200 indicating an uptrend, The wave oscillator is a bullish momentum.
Elliott Wave Analysis TradingLounge H4 chart
Polkadot/ U.S. dollar (DOT/USD)
DOT/USD Elliott Wave technical analysis
Function: Follow trend.
Mode: Motive.
Structure: Impulse.
Position: Wave 4.
Direction next higher degrees: Wave C of flat.
Wave cancel invalid level.
Details: A short-term pullback in wave 4 before falling again in wave 5.
Polkadot/US Dollar trading strategy
Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again.
Polkadot/US Dollar technical indicators
The price is above the MA200 indicating an uptrend, The wave oscillator is a bullish momentum.
DOT/USD Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.