Elliott Wave Analysis TradingLounge Daily Chart, 10 August 23, Vechain/U.S. dollar(VETUSD) VETUSD Elliott Wave

Technical Analysis Function: Counter trend Mode:

Corrective Structure: Zigzag Position: Wave (B) Direction

Next higher Degrees: wave ((2)) of Impulse Wave Cancel invalid

Level: 0.01318

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)) Vechain/U.S. dollar(VETUSD)

Trading Strategy: VeChain looks like the downtrend has ended at 0.01318 and is entering a new uptrend. With five waves extending in the upward direction. This leads us to predict the rise of wave ((1)), which is currently in the range of a correction in wave ((2)), with a Zigzag Retracement of wave ((2)) usually .50 or .618 x Length. wave ((1)), when wave ((2)) ends, the price has a chance to trade above the level of 0.02126. Vechain/U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, RSI below 50 are Bearish momentum.

(Click on image to enlarge)

Elliott Wave Analysis TradingLounge 4H Chart, 10 August 23, Vechain/U.S. dollar(VETUSD) VETUSD Elliott Wave Technical Analysis Function: Counter trend Mode: Corrective Structure: Zigzag Position: Wave (B) Direction Next higher Degrees: wave ((2)) of Impulse Wave Cancel invalid Level: 0.01318 Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)) Vechain/U.S. dollar(VETUSD)Trading Strategy: VeChain looks like the downtrend has ended at 0.01318 and is entering a new uptrend. With five waves extending in the upward direction. This leads us to predict the rise of wave ((1)), which is currently in the range of a correction in wave ((2)), with a Zigzag Retracement of wave ((2)) usually .50 or .618 x Length. wave ((1)), when wave ((2)) ends, the price has a chance to trade above the level of 0.02126.
Vechain/U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, RSI below 50 are Bearish momentum.

(Click on image to enlarge)

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