Elliott Wave Analysis TradingLounge Daily Chart, 21 January 24,
Uniswap/U.S. dollar(UNIUSD)
UNIUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave (A)
Direction Next higher Degrees: wave ((2)) of Impulse
Wave Cancel invalid Level: 4.50
Details: After Leading Diagonal complete the Price usually retest 78.6% of Leading Diagonal
Uniswap / U.S. dollar(UNIUSD)Trading Strategy: Uniswap's rise appears to have ended at the 8.4288 level, which was a five-wave Impulse rally in Wave 1. Therefore, the next price structure is a Wave 2 correction pattern with a retracement level of 78.6% Wave 1, so wait for Wave 2 to complete for an opportunity to rejoin the uptrend.
Uniswap / U.S. dollar(UNIUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bullish Momentum.
TradingLounge Analyst: Kittiampon Somboonsod, CEWA
Source: Tradinglounge.com get trial here!
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Elliott Wave Analysis TradingLounge 4H Chart, 21 January 20.24,
Uniswap/U.S. dollar(UNIUSD)
UNIUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave (A)
Direction Next higher Degrees: wave ((2)) of Impulse
Wave Cancel invalid Level: 4.50
Details: We missed two more moves. Wave A is complete. Befor Pullback in Wave B
Uniswap / U.S. dollar(UNIUSD)Trading Strategy: Uniswap's rise appears to have ended at the 8.4288 level, which was a five-wave Impulse rally in Wave 1. Therefore, the next price structure is a Wave 2 correction pattern with a retracement level of 78.6% Wave 1, so wait for Wave 2 to complete for an opportunity to rejoin the uptrend.
Uniswap / U.S. dollar(UNIUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bullish Momentum.