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 of Next Higher Degree: —

Wave Cancel Invalid Level: —

THETAUSD Trading Strategy – Daily Chart

THETA is forming a classic a-b-c corrective wave pattern. Wave c appears to have been completed at $0.7595. A recovery has started from this level, suggesting a base-building phase. The next significant resistance area lies between $1.00 and $1.15. The structure within wave c has finished five sub-waves, signaling that the rebound is the start of wave ①, potentially initiating a new upward trend.

Key Resistance: $1.00 – $1.15

If the price breaks and holds above this zone, a stronger uptrend may follow.

Trading Strategies

Strategy

For Short-Term Traders (Swing Trade):

Wait for a breakout above $1.00 – $1.15 and confirmation before entering a Buy position.

Risk Management

Key Support: $0.76 (Previous Low)

A drop below this level suggests the current wave structure is invalid.

Elliott Wave Analysis – TradingLounge H4 Chart |

Theta/ U.S. Dollar (THETAUSD)

THETAUSD Elliott Wave Technical Analysis

Function: Counter-Trend

Mode: Corrective

Structure: Zigzag

Position: Wave C

Direction of Next Higher Degree: —

Wave Cancel Invalid Level: —

THETAUSD Trading Strategy – H4 Chart

On the 4-hour timeframe, THETA mirrors the daily chart structure, following an a-b-c correction. Wave c concluded at $0.7595 and the price has started rebounding from this level. Resistance remains at $1.00 to $1.15. The sub-wave structure inside wave c appears complete, implying that wave ① is starting a new bullish cycle.

Key Resistance: $1.00 – $1.15

A confirmed break above could initiate a sustained upward move.

Trading Strategies

Strategy

For Short-Term Traders (Swing Trade):

Look for a confirmed break above $1.00 – $1.15 to enter a Buy trade.

Risk Management

Key Support: $0.76

A move below this level may invalidate the corrective wave pattern.

Technical Analyst: Kittiampon Somboonsod

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