Elliott Wave Analysis TradingLounge Daily Chart, Thursday, September 7

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Polkadot/U.S. dollar (DOT-X)

DOTUSD Elliott Wave Technical Analysis

Function: counter Trend

Mode: Corrective

Structure: Zigzag 

Position: Wave B

Direction Next higher Degrees: wave (Y) of Double Corrective

Wave Cancel invalid level: 4.20

Details: We still want two moved so that Zigzag is complete

Polkadot/U.S.Dollar (DOTUSD) Trading Strategy: The continuing downtrend in Wave ((5)) of the Diagonal Pattern, which has a trend falling to 3.279, Also the price below MA200 makes it appear to be pressured by sales, so we still look find a move downwards.

Polkadot/U.S.Dollar (DOTUSD) Technical Indicators: The price is below the MA200 indicating a downtrend, MACD and RSI bearish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, Thursday, September 7.

Polkadot/U.S.Dollar (DOTUSD)

DOTUSD Elliott Wave Technical Analysis

Function: counter Trend

Mode: Corrective

Structure: Zigzag 

Position: Wave B

Direction Next higher Degrees: wave (Y) of Double Corrective

Wave Cancel invalid level: 4.20

Details: We still want two moved so that Zigzag is complete

Polkadot/U.S.Dollar (DOTUSD) Trading Strategy: The Corrective of Zigzag. We still want two moves for a Zigzag completion which could be seen in the rising of wave B and falling in wave C, so the outlook still a downtrend and the price has a trend fall below 4.1355

Polkadot/U.S.Dollar (DOTUSD) Technical Indicators: The price is below the MA200 indicating a Downtrend, MACD and RSI bearish momentum.

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