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Elliott Wave Analysis TradingLounge Daily Chart, 26 April 2023.  

Theta Token/U.S. Dollar(THETAUSD)

THETAUSD Elliott Wave Technical Analysis 

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Flat

Position: Wave ((C))

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: The second wave retracement tends to be .786 of the first wavelength. Therefore, there is important support around 0.833, waiting for the correction to complete to consolidate the trend again.

Theta Token/U.S. Dollar(THETAUSD) Technical Indicators: The price is below the MA200 indicating a downtrend The wave oscillators below Zero-Line momentum are bearish.

Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 26 April 2023.  

Theta Token/U.S. Dollar(THETAUSD)

THETAUSD Elliott Wave Technical Analysis 

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Flat

Position: Wave ((C))

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: The second wave retracement tends to be .786 of the first wavelength. Therefore, there is important support around 0.833, waiting for the correction to complete to consolidate the trend again.

Theta Token/U.S. Dollar(THETAUSD) Technical Indicators: The price is below the MA200 indicating a downtrend The wave oscillators below Zero-Line momentum are bearish.

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