The wave II correction is entering the late decline phase, so the overall picture is a short-term correction to continue up in wave III. Look for an opportunity to join the uptrend when the correction is complete.

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)

VET/USD 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:

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.

VET/USD Elliott Wave technical analysis [Video]

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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