Photo by Executium on Unsplash
 

Elliott Wave Analysis TradingLounge Daily Chart, 20 November 2023.

Dogecoin/U.S. Dollar(DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: …..

Position: Wave 2

Direction Next higher Degrees: wave ((2)) of Impulse

Wave Cancel invalid Level: 4.50

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

Dogecoin/U.S. Dollar(DOGEUSD) Trading Strategy: Dogecoin recovered well from the 0.0573 level and even managed to expand in five waves. Actions in the same direction as a trend one level larger than itself develop in a five-wave pattern. And now the price is entering a correction period which will give us another opportunity to join the trend. Wait for the correction in wave 2 to be completed.

Dogecoin/U.S. Dollar(DOGEUSD) Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 20 November 2023

Dogecoin/U.S. dollar(DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: …..

Position: Wave 2

Direction Next higher Degrees: wave ((2)) of Impulse

Wave Cancel invalid Level: 4.50

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

Dogecoin/U.S. Dollar(DOGEUSD) Trading Strategy: Dogecoin recovered well from the 0.0573 level and even managed to expand in five waves. Actions in the same direction as a trend one level larger than itself develop in a five-wave pattern. And now the price is entering a correction period which will give us another opportunity to join the trend. Wait for the correction in wave 2 to be completed.

Dogecoin/U.S. Dollar(DOGEUSD) Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

More By This Author:

Elliott Wave Insights & Strategies - NDX, AAPL, TSLA, AMZN, NVDA, MSFT, META, NFLX, GOOGL
Elliott Wave Technical Analysis: Tesla Inc. - Friday, Nov. 17
Elliott Wave Technical Analysis Day Chart: U.S. Dollar/Canadian Dollar - Friday, Nov. 17