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Elliott Wave Analysis TradingLounge Daily Chart

VeChian / 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: 0.2100

Details: Wave II May is complete and the price increases again in Wave III.

VeChian / U.S. dollar(VETUSD)Trading Strategy:
Overall, VeChain looks like the correction in Wave II has ended at the 0.020 level and the price is rising again in Wave III. Therefore, gold finds an opportunity to rejoin the trend from the pullback.

VeChian / 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 H4 Chart

VeChian / U.S. dollar(VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave ((V))

Direction Next higher Degrees: wave 3 of Impulse

Wave Cancel invalid Level: 0.2100

Details: the Five-wave Increase of Wave 3

VeChian / U.S. dollar(VETUSD)Trading Strategy:
Overall, VeChain looks like the correction in Wave II has ended at the 0.020 level and the price is rising again in Wave III. Therefore, gold finds an opportunity to rejoin the trend from the pullback.

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

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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