Image Source: Elliott Wave Analysis TradingLounge Daily ChartDOT/ U.S. dollar(DOTUSD)DOTUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double Correctiveposition: Wave ((Y))Direction Next higher Degrees: wave IVWave Cancel invalid level: Details: Wave IV is likely to be completed and price is likely to drop at 2.406DOT/ 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.
Elliott Wave Analysis TradingLounge 4hr ChartDOT/ U.S. dollar(DOTUSD)DOTUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double Correctiveposition: Wave ((Y))Direction Next higher Degrees: wave IVWave Cancel invalid level:Details: Wave IV is likely to be completed and price is likely to drop at 2.406DOT/ 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 SomboonsodSource: Tradinglounge.com More By This Author:
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