Image Source: Elliott Wave Analysis TradingLounge Daily Chart, 16 January 24,Uniswap / U.S. dollar(UNIUSD)UNIUSD Elliott Wave Technical AnalysisFunction: Counter trendMode: CorrectiveStructure: ZigzagPosition: Wave (A)Direction Next higher Degrees: wave ((2)) of ImpulseWave Cancel invalid Level: 4.50Details: After the Leading Diagonal is complete the Price usually retests 78.6% of the Leading DiagonalUniswap / U.S. dollar(UNIUSD)Trading Strategy: Uniswap’s rise appears to be a Leading Diagonal, found in Wave 1 or Wave A, and has ended at the 8.4288 level, making the current price in the range of a further correction. And there is a chance to test the 4.820 level before rising again.Uniswap / U.S. dollar(UNIUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, and Wave Oscillators a bullish Momentum.TradingLounge Analyst: Kittiampon Somboonsod, CEWASource: Tradinglounge.com
Elliott Wave Analysis TradingLounge 4H Chart, 16 January 24,Uniswap / U.S. dollar(UNIUSD)UNIUSD Elliott Wave Technical AnalysisFunction: Counter trendMode: CorrectiveStructure: ZigzagPosition: Wave (A)Direction Next higher Degrees: wave ((2)) of ImpulseWave Cancel invalid Level: 4.50Details: We missed two more moves. Wave A is complete. Before Pullback in Wave BUniswap / U.S. dollar(UNIUSD)Trading Strategy: Uniswap’s rise appears to be a Leading Diagonal, found in Wave 1 or Wave A, and has ended at the 8.4288 level, making the current price in the range of a further correction. And there is a chance to test the 4.820 level before rising again.Uniswap / U.S. dollar(UNIUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, and Wave Oscillators a bullish Momentum.
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