Polkadot Elliott Wave Technical Analysis - August 17, 2022
Polkadot (DOT-X) DOTUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Diagonal Position: Wave | Direction Next higher Degrees: Wave (Ill) of Motive Details: Diagonal price structure, once completed, the price will drop in the second wave. beware of reversing Wave Cancel invalid Level: 5.955 Polkadot Trading Strategy: Diagonal price structure when finished The price will drop in the second wave. Be careful to reverse at 50% or 61.8% of the first wave. Wait for another trend entry once the second wave completes. Polkadot Technical Indicators: The price can pass through both w MA20,MA50,MA100 It is a good signal to reverse the uptrend.
Elliott Wave Analysis TradingLounge 4H Chart, August 17, 2022 Polkadot DOTUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Diagonal Position: Wave | Direction Next higher Degrees: Wave (Ill) of Motive Details: Diagonal price structure, once completed, the price will drop in the second wave. beware of reversing Wave Cancel invalid Level: 6.00 Polkadot Trading Strategy: The retracement of the second wave is usually 50% or 61.8% of the first wave. This is the same level as the previous fourth wave, which was the key level. Reversal in this area is an opportunity to rejoin the trend. Polkadot Technical Indicators: The MA50 is above the MA200 showing an uptrend.
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