Elliott Wave Analysis TradingLounge Daily Chart,
DOT/ U.S. dollar(DOTUSD).
DOTUSD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Double Corrective.
Position: Wave ((Y)).
Direction Next higher Degrees: Wave IV.
Wave cancel invalid level:
Details: Wave IV is likely to be completed and price is likely to drop at 2.406.
DOT/ U.S. dollar(DOTUSD)Trading Strategy:
This is a V wave retracement of wave (C), where we are in the final stages of wave C, which is likely to test the 2.406 level, so the overall picture is a short-term retracement before another rally.
DOT/ U.S. dollar(DOTUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.
DOT/ U.S. dollar(DOTUSD)
DOTUSD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Double Corrective.
Position: Wave ((Y)).
Direction next higher degrees: Wave IV.
Wave cancel invalid level:
Details: Wave IV is likely to be completed and price is likely to drop at 2.406.
DOT/ U.S. dollar(DOTUSD)Trading Strategy:
This is a V wave retracement of wave (C), where we are in the final stages of wave C, which is likely to test the 2.406 level, so the overall picture is a short-term retracement before another rally.
DOT/ U.S. dollar(DOTUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.
Technical analyst: Kittiampon Somboonsod.
DOTUSD Elliott Wave technical analysis [Video]
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