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Elliott Wave Analysis TradingLounge Daily Chart

Dogecoin/ U.S. dollar(DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis 

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave ((C))

Direction Next higher Degrees: wave I of Impulse

Wave Cancel invalid Level:

Details: Wave ((4) may is complete and the Price entry to uptrend again.

Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy:
A five-wave increase in the Impulse pattern, with the fourth wave now appearing to be complete, and prices rising again in the fifth wave. The overall picture is bullish. Look for opportunities to join the upward trend after the correction.

Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators:
The price is below the MA200 indicating an Uptrend. The Wave Oscillator is a Bullish Momentum.

Elliott Wave Analysis TradingLounge H4 Chart

Dogecoin/ U.S. dollar(DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis 

Function: Counter Trend

Mode: Corrective 

Structure: Zigzag

Position: Wave A

Direction Next higher Degrees: Wave V of Impulse

Wave Cancel invalid Level:

Details: wave ((2)) Is Equal to 61.8% of Wave ((1)) at 0.1373.

Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy:
The correction in wave ((2)) is likely to test the 61.8% level (0.1373) before rising again in wave ((3)). Waiting for the correction to complete to rejoin the trend further uptrend.

Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators:
The price is below the MA200 indicating an Uptrend. The Wave Oscillator is a Bullish Momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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