Vechain Elliott Wave technical analysis [Video]

Elliott Wave Analysis TradingLounge Daily Chart,

Vechain/ U.S. dollar(VETUSD).

VETUSD Elliott Wave technical analysis

Function: Counter trend.

Mode: Corrective.

Structure: Double Corrective.

Position: Wave ((Y)).

Direction next higher degrees: Wave II of Impulse.

Wave cancel invalid level:

Details: Wave II may not be complete, price is likely to be below 0.01781.

Vechain/U.S. dollar(VETUSD)Trading Strategy:

This is a Five-wave retracement of wave (C), where we are in the final stages of wave Y, which is likely to test the 0.017 level, so the overall picture is a short-term retracement before another rally.

Vechain/U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.

Vechain/ U.S. dollar(VETUSD).

VETUSD Elliott Wave technical analysis

Function: Counter trend.

Mode: Corrective.

Structure: Double Corrective.

Position: Wave ((Y)).

Direction next higher degrees: Wave II of Impulse.

Wave cancel invalid level:

Details: Wave II may not be complete, price is likely to be below 0.01781.

Vechain/ U.S. dollar(VETUSD)Trading Strategy:

This is a Five-wave retracement of wave (C), where we are in the final stages of wave Y, which is likely to test the 0.017 level, so the overall picture is a short-term retracement before another rally.

Vechain/ U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.

Technical analyst: Kittiampon Somboonsod.

VETUSD Elliott Wave technical analysis [Video]