Theta Token Elliott Wave Technical Analysis - Oct. 31, 2022

Elliott Wave Analysis TradingLounge Daily Chart, 31 October 2022,

Theta Token(THETAUSD)

THETAUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure:?

Position: A

Direction Next higher Degrees: wave (4) of Motive

Details: Pull back in wave 4, But must not be below 1.036

Wave Cancel invalid Level: 1.036

Theta Token(THETAUSD) Trading Strategy: The decline of wave 4 is usually .382 x the length of wave 3, allowing us to consolidate the trend again in wave 5, opening up short-term speculation opportunities. The target price has a chance to test the MA200 line at 1.40 level.

Theta Token(THETAUSD) Technical Indicators: MACD and MACD Histogram above Zero-LIneé Momentum is Bullish.

(Click on image to enlarge)

 

Theta Token(THETAUSD)

THETAUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure:?

Position: A

Direction Next higher Degrees: wave (4) of Motive

Details: Pull back in wave 4, But must not be below 1.036

Wave Cancel invalid Level: 1.036

Theta Token(THETAUSD) Trading Strategy: The decline of wave 4 is usually .382 x the length of wave 3, allowing us to consolidate the trend again in wave 5, opening up short-term speculation opportunities. The target price has a chance to test the MA200 line at 1.40 level.

Theta Token(THETAUSD) Technical Indicators: MACD Histogram has a hidden bullish divergence The price has a chance to turn into an Uptrend.

(Click on image to enlarge)


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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...

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