Elliott Wave Analysis TradingLounge Daily Chart, 23 January 24,

Polkadot / U.S. dollar(DOTUSD)

DOTUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave A

Direction Next higher Degrees: wave (II) of Impulse

Wave Cancel invalid level: 3.566

Details: Wave (II) is Equal to 61.8% of wave (I) at 5.826

Polkadot / U.S. dollar(DOTUSD)Trading Strategy: Polkadot's rise appears to have ended at the 9.585 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 61.8. % Wave 1, so wait for Wave 2 to complete for an opportunity to rejoin the uptrend.

Polkadot / U.S. dollar(DOTUSD)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!

Previous: UNIUSD

DOTUSD-Day-Crypto-Ch...

 


 

Elliott Wave Analysis TradingLounge 4H Chart, 23 January 24,

Polkadot / U.S. dollar(DOTUSD)

DOTUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave A

Direction Next higher Degrees: wave (II) of Impulse

Wave Cancel invalid level: 3.566

Details: Wave (II) is Equal to 61.8% of wave (I) at 5.826

Polkadot / U.S. dollar(DOTUSD)Trading Strategy: Polkadot's rise appears to have ended at the 9.585 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 61.8. % Wave 1, so wait for Wave 2 to complete for an opportunity to rejoin the uptrend.

Polkadot / U.S. dollar(DOTUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bullish Momentum.

DOTUSD-4Hr-Crypto-Ch...

Related

FTSE 100 (UK)  Elliott Wave Analysis: Insights on Bullish Trends, Orange Wave 5, Navy Blue Wave 3, and Invalidation Levels

FTSE 100 (UK) Elliott Wave Analysis: Insights on Bullish Trends, Orange Wave 5, Navy Blue Wave 3, and Invalidation Levels

Elliott Wave Analysis of the FTSE 100 index, highlighting bullish trends in both daily and weekly ch...

Read More >
Professional perspectives on ASX Trading Success: CSL Limited (CSL) Stock Analysis & Elliott Wave Technical Forecast

Professional perspectives on ASX Trading Success: CSL Limited (CSL) Stock Analysis & Elliott Wave Technical Forecast

Discover actionable insights for trading CSL Limited (CSL) shares on the Australian Stock Exchange (...

Read More >
XRP/ U.S. dollar(XRPUSD) Elliott Wave Analysis: Predicting Price Trends, Triangle Pattern Signals

XRP/ U.S. dollar(XRPUSD) Elliott Wave Analysis: Predicting Price Trends, Triangle Pattern Signals

XRP technical analysis covers the current price movement, Elliott Wave patterns, and trading strateg...

Read More >
Euro/U.S.Dollar(EURUSD) Forex Elliott Wave Technical Analysis: A Comprehensive Trading Guide

Euro/U.S.Dollar(EURUSD) Forex Elliott Wave Technical Analysis: A Comprehensive Trading Guide

This guide offers a detailed examination of EURUSD Elliott Wave analysis across both daily and 4-hou...

Read More >
Expert Technical Analysis for Optimal Trading: WiseTech Global Limited (ASX: WTC) Elliott Wave Analysis

Expert Technical Analysis for Optimal Trading: WiseTech Global Limited (ASX: WTC) Elliott Wave Analysis

Explore our detailed Elliott Wave analysis of WiseTech Global Limited (ASX: WTC). Understand current...

Read More >
Stock Analysis: The Coca-Cola Company (KO) Elliott Wave Technical Analysis provides valuable insights

Stock Analysis: The Coca-Cola Company (KO) Elliott Wave Technical Analysis provides valuable insights

Our Elliott Wave analysis provides valuable insights into potential price movements for The Coca-Col...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on