Theta/ U.S. Dollar (THETAUSD) Elliott Wave Analysis – TradingLounge Daily Chart
THETAUSD Elliott Wave Technical Analysis
Function: Counter-Trend
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction of Next Higher Degree: —
Wave Cancel Invalid Level: —
THETAUSD Daily Chart Trading Strategy
THETA is currently displaying a textbook a-b-c Elliott Wave correction. Wave c likely completed near $0.7595, where a bounce has initiated. This rebound suggests potential accumulation, indicating a possible trend reversal. The upcoming resistance area is between $1.00 and $1.15. Within wave c, five internal waves have completed, supporting the start of wave ① and signaling the potential for a new upward phase.
- Key Resistance Zone: $1.00 – $1.15
A successful breakout and close above this range may confirm the start of a stronger bullish trend.
Short-Term Trading Plan (Swing Traders)
✅ Monitor price action for a confirmed breakout above $1.00 – $1.15 before entering long positions.
Risk Management
- Critical Support: $0.76 (Prior Swing Low)
If the price declines below $0.76, the current corrective structure may become invalid.
Theta/ U.S. Dollar (THETAUSD) Elliott Wave Analysis – TradingLounge H4 Chart
THETAUSD Elliott Wave Technical Analysis
Function: Counter-Trend
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction of Next Higher Degree: —
Wave Cancel Invalid Level: —
THETAUSD H4 Chart Trading Strategy
The 4-hour chart aligns with the daily outlook, confirming an a-b-c corrective wave pattern. Wave c appears to have bottomed at $0.7595, from which a recovery is now underway. Price is testing resistance between $1.00 and $1.15. Sub-waves inside wave c have completed, which may signal that wave ① is beginning a new upward cycle.
- Resistance to Watch: $1.00 – $1.15
A breakout beyond this level could confirm bullish momentum continuation.
Swing Trade Strategy
✅ Wait for a strong confirmation above the $1.00 – $1.15 zone before executing long trades.
Risk Management
A close below this level could negate the bullish Elliott Wave setup.
Technical Analyst: Kittiampon Somboonsod
Source: Visit Tradinglounge.com and learn from the Experts. Join TradingLounge Here
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