Elliott Wave Technical Analysis: Monero (XMRUSD) - Thursday, Oct. 20
Photo by Austin Distel on Unsplash
XMRUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction Next higher Degrees: Wave (2) of Motive
Details: The price is still on a short-term downtrend. There is an opportunity to trade below 134.00 but must not pull back above 152.597.
Wave Cancel invalid Level: 150.756
Monero (XMRUSD) Trading Strategy: The price tends to move sideways to form a triangle.
Trading during this period may have to wait for the triangle pattern to complete for an opportunity to open a short-term Short on wave A.
Monero (XMRUSD) Technical Indicators: The price is below the MA200 and MASO line. momentum is Bearish.
Analyst: Kittiampon Somboonsod
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction Next higher Degrees: Wave (2) of Motive
Details: The price is still on a short-term downtrend. There is an opportunity to trade below 134.00 but must not pullback above 152.597
Wave Cancel invalid Level: 150.756
Monero (XMRUSD) Trading Strategy: The price tends to move sideways to form a triangle. Trading during this period may have to wait for the triangle pattern to complete for an opportunity to open a short-term Short on wave A.
Monero (XMRUSD) Technical Indicators: The price is below the MA200 and MASO line. momentum is Bearish.
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