Elliott Wave Technical Analysis: Theta Token/U.S. Dollar - Monday, July 24

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Elliott Wave Analysis TradingLounge Daily Chart, 24 July 2023.
Theta Token/U.S. Dollar(THETAUSD)
Theta Usd Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave (C)
Direction Next higher Degrees: wave ((2)) of Impulse
Wave Cancel invalid Level: 0.571
Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)).
Theta Token/U.S. Dollar(THETAUSD) Trading Strategy: Increasing the current It has the nature of a correction, so we are after wave ((2)) green is not complete and the price tends to fall towards 78.6% of wave ((1)) green, wait for wave ((2)) to complete its turn to join the trend again.
Theta Token/U.S. Dollar(THETAUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. Wave oscillators are bullish momentum.
Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 24 July 2023.
Theta Token/U.S. dollar(THETAUSD)
THETAUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave (C)
Direction Next higher Degrees: wave ((2)) of Impulse
Wave Cancel invalid Level: 0.571
Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

Theta Token/U.S. Dollar(THETAUSD) Trading Strategy: Increasing the current It has the nature of a correction, so we are after wave ((2)) green is not complete and the price tends to fall towards 78.6% of wave ((1)) green, wait for wave ((2)) to complete its turn to join the trend again.

Theta Token/U.S. Dollar(THETAUSD) Technical Indicators: The price is above the MA200 indicating an uptrend. Wave oscillators are bullish momentum.

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