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Elliott Wave Analysis TradingLounge Daily Chart

VeChain/ U.S. dollar(VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Counter trend    

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Direction Next higher Degrees: wave II of Impulse

Wave Cancel invalid Level: 

Details: Wave II may not be complete, price is likely to be below 0.01781.

VeChain/ U.S. dollar(VETUSD)Trading Strategy:
The rise from 0.01904 has a corrective nature, so there is a possibility that the correction is not over yet, watch out for a retracement below 0.01904.

VeChain/ U.S. dollar(VETUSD)Technical Indicators:
The price is below the MA200 indicating a Downtrend. The Wave Oscillator is a Bearish Momentum.

VeChain/ U.S. dollar(VETUSD) 4h chart

VETUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Direction Next higher Degrees: wave II of Impulse

Wave Cancel invalid Level: 

Details: Wave II may not be complete, price is likely to be below 0.01781.

VeChain/ U.S. dollar(VETUSD)Trading Strategy:
The rise from 0.01904 has a corrective nature, so there is a possibility that the correction is not over yet, watch out for a retracement below 0.01904.

VeChain/ U.S. dollar(VETUSD)Technical Indicators:
The price is below the MA200 indicating a Downtrend. The Wave Oscillator is a Bearish Momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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