Elliott Wave Technical Analysis: DogeCoin (DOGEUSD)

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Elliott Wave Analysis TradingLounge Daily Chart, 26 October 2022,

DogeCoin (DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: C

Direction Next higher Degrees: wave (2) of Motive

Details: Pull back in wave 2, But must not be above 0.0892

Wave Cancel invalid Level: 0.0892

DogeCoin (DOGEUSD) Trading Strategy: The retracement in wave 2 is usually .618 x wave 1, but it is only a short-term pullback when wave 2 ends, the price will go down again and is an opportunity to open a short position

DogeCoin (DOGEUSD) Technical Indicators: MACD Histogram above Zero-Line, MACD has Bullish divergence The price has a chance of reversal.

Analyst: Kittiampon Somboonsod

DogeCoin (DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: C

Direction Next higher Degrees: wave (2) of Motive

Details: Pull back in wave 2, But must not be above 0.0892

Wave Cancel invalid Level: 0.0892

DogeCoin (DOGEUSD) Trading Strategy: The retracement in wave 2 is usually .618 x wave 1, but it is only a short-term pullback when wave 2 ends, the price will go down again and is an opportunity to open a short position

DogeCoin (DOGEUSD) Technical Indicators: MACD Histogram above Zero-Line, MACD has Bullish divergence. The price has a chance of reversal.


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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...

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Mad Money 1 year ago Member's comment

I like the Elliot wave too, but I’ve found PPSignal CFB to be a bit more powerful.  What dou you think?