DOGE/USD Elliott Wave technical analysis
- Function: Counter-Trend
- Mode: Corrective
- Structure: Flat
- Position: Wave C
- Next higher degree direction: Wave (III) of impulse
- Wave cancellation level: Not specified
- Details: Wave C correction is in progress before the market resumes its uptrend. Awaiting a reversal confirmation.
DOGE/USD trading strategy
The DOGE/USD price has been consistently declining from its peak at 0.4846 USD and is currently moving through the final stages of wave C within the WXY corrective pattern. At present, DOGE is forming wave (5) in the ongoing downtrend.
Trading strategies
Strategy:
- Long strategy:
- Buy when the price reaches a key support level (pullback entry).
- Short-term buy: Consider entering if the price rebounds from 0.1822 USD, coupled with RSI recovering from the oversold zone.
- Risk management:
- If the price drops below 0.0816 USD, the bullish structure is invalidated.
DOGE/USD Elliott Wave technical analysis
- Function: Counter-trend.
- Mode: Corrective.
- Structure: Flat.
- Position: Wave C.
- Next higher degree direction: Wave (III) of impulse.
- Wave cancellation level: Not specified.
- Details: Wave C correction is in progress before the market resumes its uptrend. Awaiting a reversal confirmation.
DOGE/USD trading strategy
The DOGE/USD price has been consistently declining from its peak at 0.4846 USD and is currently moving through the final stages of wave C within the WXY corrective pattern. At present, DOGE is forming wave (5) in the ongoing downtrend.
Trading strategies
Strategy:
- Long strategy:
- Buy when the price reaches a key support level (pullback entry).
- Short-term buy: Consider entering if the price rebounds from 0.1822 USD, coupled with RSI recovering from the oversold zone.
- Risk management:
- If the price drops below 0.0816 USD, the bullish structure is invalidated.
DOGE/USD Elliott Wave technical analysis [Video]
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