Wave II correction appears to have ended at the 5.992 level and prices are entering an uptrend in Wave III, looking for an entry opportunity. Join the trend again in an upward direction.

Polkadot/US Dollar(DOT/USD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillator Is a bullish Momentum.

ELLIOTT WAVE CHART 4HR.

Elliott Wave Analysis Trading Lounge 4H Chart, 31 January 20.24,

Polkadot/US Dollar (DOT/USD).

DOT/USD Elliott Wave Technical Analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Zigzag.

Position: Wave C.

Direction Next higher Degrees: Wave (II) of Impulse.

Wave Cancel invalid level: 3.566.

Details: Wave (II) maybe is complete at 5.992 level and the price increase again in Wave (III).

Polkadot/US Dollar (DOTUSD) Trading Strategy:

Wave II correction appears to have ended at the 5.992 level and prices are entering an uptrend in Wave III, looking for an entry opportunity. Join the trend again in an upward direction.

Polkadot/US Dollar (DOTUSD) Technical Indicators: The price is below the MA200 indicating a downtrend, Wave Oscillator is a bearish Momentum.

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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