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Elliott Wave Analysis – TradingLounge Daily Chart, Polkadot / U.S. Dollar (DOTUSD)

DOTUSD Elliott Wave Technical Analysis

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave 2
• Next Higher Degrees Direction: N/A
• Invalidation Level: N/A

Trading Strategy – Daily Chart
DOT is undergoing a wave II correction. Once completed, wave III may begin, which often exhibits strong momentum in Elliott Wave theory. Wave I ended at $5.407 and followed a clear five-wave pattern. Currently, wave II unfolds as an ABC correction. Target levels for wave C are:

• Fib 0.618 ≈ $3.94
• Fib 0.786 ≈ $3.62

Suggested Strategies

• ✅ For Short-Term Traders (Swing Trade):
• • Monitor price action near $3.62–$3.94.
  • Look for bullish reversal patterns (e.g., Pin Bar, Engulfing).
• 🟥 Risk Management:
• • Set Stop Loss below $3.40 (invalid level for wave count).

Elliott Wave Analysis – TradingLounge H4 Chart, Polkadot / U.S. Dollar (DOTUSD)

DOTUSD Elliott Wave Technical Analysis

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave 2
• Next Higher Degrees Direction: N/A
• Invalidation Level: N/A

Trading Strategy – H4 Chart
Polkadot (DOT) is in wave II correction phase, setting the stage for a wave III rally. The first wave (Wave I) ended at $5.407 with a five-wave internal structure. The market now corrects through wave II in an ABC formation. Price targets for wave C are:

• Fib 0.618 ≈ $3.94
• Fib 0.786 ≈ $3.62

Suggested Strategies

• ✅ For Short-Term Traders (Swing Trade):
• • Wait for a test of the $3.62–$3.94 zone.
  • Identify bullish reversal signals.
• 🟥 Risk Management:
• • Place Stop Loss below $3.40.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

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