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Elliott Wave Analysis TradingLounge Daily Chart

Theta/ U.S. dollar(THETAUSD)

THETAUSD Elliott Wave Technical Analysis 

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave((C))

Direction Next higher Degrees: wave E of Triangle

Wave Cancel invalid Level:

Theta/ U.S. dollar(THETAUSD)Trading Strategy:

The structure of the ABCDE Triangle is complete, with point E being the latest low, which may end the correction and prepare to enter a new uptrend. The low of Wave C is at around 0.899 USD, which acts as a critical support (W.C. Invalid Triangle).

Trading strategies

* Buy Strategy (Long Position):

   * Waiting for confirmation of a reversal above 2.187 USD

* Risk Management:

   * The low of Wave C is around 0.899 USD which acts as a critical support (W.C. Invalid Triangle).

Elliott Wave Analysis TradingLounge 4hr Chart

Theta/ U.S. dollar(THETAUSD)

THETAUSD Elliott Wave Technical Analysis 

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave((C))

Direction Next higher Degrees: wave E of Triangle

Wave Cancel invalid Level:

Theta/ U.S. dollar(THETAUSD)Trading Strategy:

The structure of the ABCDE Triangle is complete, with point E being the latest low, which may end the correction and prepare to enter a new uptrend. The low of Wave C is at around 0.899 USD, which acts as a critical support (W.C. Invalid Triangle).

Trading strategies

* Buy Strategy (Long Position):

   * Waiting for confirmation of a reversal above 2.187 USD

* Risk Management:

   * The low of Wave C is around 0.899 USD which acts as a critical support (W.C. Invalid Triangle).

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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