THETAUSD Elliott Wave Analysis – TradingLounge (Day Chart)
Theta/U.S. Dollar (THETAUSD) – Day Chart Analysis
THETAUSD Elliott Wave Technical Analysis
Function: Counter-Trend
Mode: Corrective
Structure: Zigzag
Position: Wave ((C))
Next Higher Degree Direction: Wave E of Triangle
Wave Cancellation Level: Not specified
THETAUSD Trading Strategy
The ABCDE Triangle pattern has completed, with Point E marking the latest low. This low might indicate the end of the correction and the potential beginning of an uptrend. The critical support level is at 0.899 USD, the low of Wave C, which plays a vital role in invalidating the triangle pattern.
Trading Strategy for THETAUSD:
Buy Strategy (Long Position):
- Entry Confirmation: Wait for a breakout above 2.187 USD before entering a long position.
Risk Management:
Theta/U.S. Dollar (THETAUSD) – 4-Hour Chart Analysis
THETAUSD Elliott Wave Technical Analysis
Function: Counter-Trend
Mode: Corrective
Structure: Zigzag
Position: Wave ((C))
Next Higher Degree Direction: Wave E of Triangle
Wave Cancellation Level: Not specified
THETAUSD Trading Strategy
The ABCDE Triangle formation has completed, with Point E marking a significant low. This suggests a possible end to the correction and a shift towards an uptrend. The Wave C low at 0.899 USD serves as a critical support level and acts as a pattern invalidation point.
Trading Strategy for THETAUSD:
Buy Strategy (Long Position):
- Entry Confirmation: Look for a price reversal above 2.187 USD before initiating long positions.
Risk Management:
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
Previous: ADA/USD Elliott Wave Technical Analysis
VALUE Offer - Buy 1 Month & Get 3 Months!Click here
Access 7 Analysts Over 200 Markets Covered. Chat Room With Support
