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Elliott Wave Analysis TradingLounge Daily Chart

DOT/ U.S. dollar(DOTUSD)

DOTUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

position: Wave ((Y))

Direction Next higher Degrees: wave IV

Wave Cancel invalid level: 

Details: Wave IV is likely to be completed and price is likely to drop at 2.406

DOT/ U.S. dollar(DOTUSD)Trading Strategy:
This is a V wave retracement of wave (C), where we are in the final stages of wave C, which is likely to test the 2.406 level. So the overall picture is a short-term retracement before another rally.

DOT/ U.S. dollar(DOTUSD)Technical Indicators:
The price is below the MA200 indicating a Downtrend. The Wave Oscillator is a Bearish Momentum.

Elliott Wave Analysis TradingLounge 4hr Chart

DOT/ U.S. dollar(DOTUSD)

DOTUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

position: Wave ((Y))

Direction Next higher Degrees: wave IV

Wave Cancel invalid level:

Details: Wave IV is likely to be completed and price is likely to drop at 2.406

DOT/ U.S. dollar(DOTUSD)Trading Strategy:
This is a V wave retracement of wave (C), where we are in the final stages of wave C, which is likely to test the 2.406 level. So the overall picture is a short-term retracement before another rally.

DOT/ U.S. dollar(DOTUSD)Technical Indicators:
The price is below the MA200 indicating a Downtrend. The Wave Oscillator is a Bearish Momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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