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Elliott Wave Analysis TradingLounge Daily Chart, 10 May 2023.  

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.

Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 10 May 2023.  

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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