Elliott Wave Analysis – TradingLounge Daily Chart
Dogecoin / U.S. Dollar (DOGEUSD)

DOGEUSD – Elliott Wave Technical Analysis

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave 3
• Direction (Next Higher Degrees): Pending
• Invalidation Level: Pending

Dogecoin / U.S. Dollar (DOGEUSD) – Trading Strategy

Overview:
Wave (2) completed between 0.16113–0.16525 as a Zigzag correction. The price has now moved into the final phase of wave 3, which includes five sub-waves. A short-term retracement could occur, targeting 0.22363.

Trading Strategies:

• Swing Trade Strategy (Short-Term Traders):
• • Watch for the end of wave 5 near 0.2236 and consider booking partial profits.
  • Monitor for signs of divergence or weakening momentum near this level to prepare for wave (4) correction.
• Invalidation Point:
• • The uptrend structure is invalidated if the price falls below 0.18000.

Elliott Wave Analysis – TradingLounge H4 Chart
Dogecoin / U.S. Dollar (DOGEUSD)

DOGEUSD – Elliott Wave Technical Analysis

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave 3
• Direction (Next Higher Degrees): Pending
• Invalidation Level: Pending

DOGEUSD – Trading Strategy Recap (H4 Chart)

Overview:
Wave (2) ended between 0.16113–0.16525, following a Zigzag structure. Price is in the latter part of wave 3, expected to peak around 0.22363.

Trading Strategies:

• Swing Trade Strategy (Short-Term):
• • Consider profit-taking as wave 5 concludes near 0.2236.
  • Watch for divergence or slowing momentum as possible signals to prepare for a correction wave.
• Invalidation Level:
• • The structure becomes invalid if the price dips below 0.18000.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

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