Image Source: Unsplash

Elliott Wave Analysis TradingLounge Daily Chart

Vechain/ U.S. dollar(VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next higher Degrees: wave (I) of Impulse

Wave Cancel invalid Level:

Details: wave 2 is likely to end and price is rising again in wave 3.

Vechain/ U.S. dollar(VETUSD)Trading Strategy:
VeChain remains in an uptrend with an impulsive rally. We are currently in the fifth wave, which is incomplete, so the price is likely to continue rising. Watch for a rebound within the uptrend.

Vechain/ U.S. dollar(VETUSD)Technical Indicators:
The price is above the MA200 indicating an uptrend. The Wave Oscillator is a Bullish Momentum.

Elliott Wave Analysis TradingLounge 4hr Chart

Vechain/ U.S. dollar(VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave (3)

Direction Next higher Degrees: wave ((1)) of Impulse

Wave Cancel invalid Level:

Details: the Five-Wave increase in wave (3)

Vechain/ U.S. dollar(VETUSD)Trading Strategy:
VeChain remains in an uptrend with an impulsive rally. We are currently in the fifth wave, which is incomplete, so the price is likely to continue rising. Watch for a rebound within the uptrend.

Vechain/ U.S. dollar(VETUSD)Technical Indicators:
he price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

More By This Author:

Unlocking ASX Trading Success: Xero Limited
Elliott Wave Technical Analysis - Netflix Inc.
Elliott Wave Technical Analysis - Gold