Elliott Wave Analysis TradingLounge Daily Chart, Monday, May 22

Theta Token/U.S. Dollar (THETA-X)

THETAUSD Elliott Wave Technical Analysis 

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Double corrective

Position: Wave ((Y))

Direction Next higher Degrees: wave II of Impulse

Wave Cancel invalid Level: 0.706

Details: : Trend Retracement of wave II usually .786 x Length wave I.

Theta Token/U.S. Dollar (THETAUSD)Trading Strategy: There is still a risk of a correction of wave (2), which corresponds to prices below the MA200 line indicating a downtrend. before rising again Wait for the correction to complete.

Theta Token/U.S. Dollar (THETAUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are Bearish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, Monday, May 22.

Theta Token/U.S. Dollar (THETAUSD)

THETAUSD Elliott Wave Technical Analysis 

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Double corrective

Position: Wave ((Y))

Direction Next higher Degrees: wave II of Impulse

Wave Cancel invalid Level: 0.706

Details: : Trend Retracement of wave II usually .786 x Length wave I.

Theta Token/U.S. Dollar (THETAUSD)Trading Strategy: There is still a risk of a correction of wave (2), which corresponds to prices below the MA200 line indicating a downtrend. before rising again Wait for the correction to complete.

Theta Token/U.S. Dollar (THETAUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are Bearish momentum.

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