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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 IV

Direction Next higher Degrees: wave (III) 

Wave Cancel invalid Level:

Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy:

DOGE/USD is likely to be in an uptrend Impulse Wave structure. It currently appears to be in wave IV with a downtrend. If the price can hold above 0.2038, there is a chance to start wave V with the first target at 0.4846.

Trading strategies

* Buy Strategy (Long Position):

   * If it breaks through 0.3417, it will confirm the continuation of wave V.

* Risk Management:

   * If the price breaks the support level of 0.2038 (Wave Count Invalid), it will be a signal that the wave structure is incorrect.

Elliott Wave Analysis TradingLounge 4hr Chart

Dogecoin/ U.S. dollar(DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave IV

Direction Next higher Degrees: wave (III) 

Wave Cancel invalid Level:

Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy:

DOGE/USD is likely to be in an uptrend Impulse Wave structure. It currently appears to be in wave IV with a downtrend. If the price can hold above 0.2038, there is a chance to start wave V with the first target at 0.4846.

Trading strategies

* Buy Strategy (Long Position):

   * If it breaks through 0.3417, it will confirm the continuation of wave V.

* Risk Management:

   * If the price breaks the support level of 0.2038 (Wave Count Invalid), it will be a signal that the wave structure is incorrect.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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