Dogecoin/ U.S. Dollar (DOGEUSD) Elliott Wave Analysis – TradingLounge 1D Chart Analysis
DOGEUSD Elliott Wave Technical Analysis
Function: Trend-following
Mode: Motive
Structure: Impulse
Position: Wave IV
Next Higher Degree Wave: Wave (III)
Wave Invalid Level: Below 0.2038
Dogecoin (DOGEUSD) Trading Strategy
DOGE/USD is currently in an impulse wave structure, likely within Wave IV, which signals a corrective downtrend. If DOGE price remains above 0.2038, there is a potential for Wave V to begin, targeting the first resistance at 0.4846.
Trading Strategies
Buy Strategy (Long Position)
- A break above 0.3417 would confirm the continuation of Wave V, signaling a bullish move.
Risk Management
- If DOGE/USD falls below the 0.2038 support level, it would invalidate the current wave count, indicating a need to reassess the Elliott Wave structure.
Dogecoin/ U.S. Dollar (DOGEUSD) Elliott Wave Analysis – TradingLounge 4H Chart Analysis
DOGEUSD Elliott Wave Technical Analysis
Function: Trend-following
Mode: Motive
Structure: Impulse
Position: Wave IV
Next Higher Degree Wave: Wave (III)
Wave Invalid Level: Below 0.2038
Dogecoin (DOGEUSD) Trading Strategy
DOGE/USD continues its impulse wave formation and is currently in Wave IV, experiencing a corrective downtrend. If the price remains above 0.2038, there is a high probability that Wave V will start, targeting 0.4846 as the first upward resistance.
Trading Strategies
Buy Strategy (Long Position)
- A price breakout above 0.3417 would confirm the next bullish wave (Wave V).
Risk Management
- A drop below 0.2038 will invalidate the current wave count, requiring traders to re-evaluate market conditions.
Technical Analyst: Kittiampon Somboonsod
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