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Elliott Wave Analysis TradingLounge Daily Chart, 8 May 2023.

Monero /U.S.dollar(XMRUSD)

XMRUSD Elliott Wave Technical Analysis

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Double Combined

Position: Wave Y

Direction Next higher Degrees: Wave (2) of Motive

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

Wave Cancel invalid Level: 131.896

Monero /U.S.dollar(XMRUSD)Trading Strategy: There is still a risk of a correction of wave (2), which corresponds to prices below the MA200 line indicating a downtrend. before rising again Wait for the correction to complete.

Monero /U.S.dollar(XMRUSD)Technical Indicators: The price is below the MA200 indicating a downtrend. MACD and RSI are Bearish momentum.

Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 8 May 2023. 

Monero /U.S.dollar(XMRUSD)

XMRUSD Elliott Wave Technical Analysis

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Double Combined

Position: Wave Y

Direction Next higher Degrees: Wave (2) of Motive

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

Wave Cancel invalid Level: 131.896

Monero /U.S.dollar(XMRUSD)Trading Strategy: There is still a risk of a correction of wave (2), which corresponds to prices below the MA200 line indicating a downtrend. before rising again Wait for the correction to complete.

Monero /U.S.dollar(XMRUSD)Technical Indicators: The price is below the MA200 indicating a downtrend. MACD and RSI are Bearish momentum.

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