Elliott Wave Analysis TradingLounge Daily Chart, 22 February 24,

Greetings fellow traders, today we delve into the intricate dance of the ChainLink/U.S. Dollar (LINKUSD) pairing through the lens of Elliott Wave Theory. Let's embark on this journey of wave patterns and market sentiment.

ChainLink/ U.S. dollar: Daily Chart Analysis

LINKUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave V

Direction Next Higher Degrees: Wave (I) of Impulse

Wave Cancel Invalid Level: 8.498

Details: Wave V, the focal point of our analysis, aligns harmoniously with the 61.8% retracement level of the wave journey from Wave I through Wave III, gracefully landing at 23.117.

LINKUSD Trading Strategy:

Our discerning eye catches the subtle cues of the market symphony. The crescendo in wave ((3)) hints at an imminent interlude, signaling the impending correction in wave ((5)). As we stand at the apex of this increase, it behooves us to remain vigilant, anticipating the forthcoming correction with poised anticipation.

LINKUSD Technical Indicators:

The price trajectory gracefully ascends above the MA200 threshold, painting a portrait of an undeniable uptrend. Wave oscillators echo this sentiment with a resounding bullish momentum, further affirming the prevailing market direction.

LINKUSD-day-crypto-c...

 


 

Elliott Wave Analysis TradingLounge 4Hr Chart, 22 February 24,

ChainLink/ U.S. dollar: 4-Hour Chart Analysis

LINKUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave V

Direction Next Higher Degrees: Wave (I) of Impulse

Wave Cancel Invalid Level: 8.498

Details: Mirroring the grandeur of its daily counterpart, Wave V adorns the 4-hour chart, a testament to the fractal nature of market movements. The 61.8% Fibonacci extension from Wave I through Wave III echoes its presence, anchoring the current wave dynamics at 23.117.

ChainLink/ U.S. dollar Trading Strategy:

Our strategic outlook remains unwavering, guided by the principles of Elliott Wave Theory. As wave ((3)) gracefully concludes its ascent, we brace ourselves for the inevitable correction embodied by wave ((5)). The denouement of this wave sequence draws nigh, urging us to maintain a watchful stance as we navigate the shifting currents of market sentiment.

ChainLink/ U.S. dollar Technical Indicators:

Once again, the MA200 serves as a steadfast beacon, guiding our path amidst the market tumult. Its presence above the price action reaffirms the prevailing uptrend, instilling confidence in our trading endeavors. Furthermore, wave oscillators echo this sentiment with their bullish oscillations, underscoring the underlying strength of the market momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: Bitcoin/ U.S. dollar(BTCUSD)

LINKUSD-4hr-crypto-c...

In conclusion, as we traverse the labyrinthine corridors of the financial markets, armed with the illuminating insights of Elliott Wave Theory, let us tread with caution yet confidence. Within the ebb and flow of market dynamics lies the opportunity to decipher the cryptic language of price action and chart a course toward profitable horizons.

Related

Bullish Trend Persists: Cocoa Commodity Elliott Wave Technical Analysis

Bullish Trend Persists: Cocoa Commodity Elliott Wave Technical Analysis

In the cocoa commodity market, Elliott Wave Technical Analysis indicates a persistent bullish trend....

Read More >
Unlocking ASX Trading Success: Woolworths Group Limited (WOW) Stock Analysis & Elliott Wave Technical Forecast

Unlocking ASX Trading Success: Woolworths Group Limited (WOW) Stock Analysis & Elliott Wave Technical Forecast

This article provides an in-depth Elliott Wave analysis of Woolworths Group Limited (WOW) on the ASX...

Read More >
NZDUSD Forex Market: Expert New Zealand Dollar/ U.S. Dollar Elliott Wave Technical Analysis and Trading Strategies

NZDUSD Forex Market: Expert New Zealand Dollar/ U.S. Dollar Elliott Wave Technical Analysis and Trading Strategies

Get an in-depth analysis of NZDUSD using Elliott Wave theory. Our analysis covers the current trend,...

Read More >
ITC Stock Elliott Wave Analysis: Forecasting Share Price Correction in Wave C and Strategic Trading Setup for FMCG Investors

ITC Stock Elliott Wave Analysis: Forecasting Share Price Correction in Wave C and Strategic Trading Setup for FMCG Investors

Get a full Elliott Wave analysis of ITC India, covering wave structures, correction phase, and price...

Read More >
NVIDIA Corp. (NVDA) Stock Analysis: Elliott Wave Forecast, Bullish Trend Insights, Technical Chart Patterns

NVIDIA Corp. (NVDA) Stock Analysis: Elliott Wave Forecast, Bullish Trend Insights, Technical Chart Patterns

NVIDIA (NVDA) stock analysis focuses on Elliott Wave Theory to forecast trends and price movements. ...

Read More >
U.S. Dollar / Swiss Franc Forex Technical Analysis | USDCHF Elliott Wave Analysis: Day and 4-Hour Chart Forecast for Traders

U.S. Dollar / Swiss Franc Forex Technical Analysis | USDCHF Elliott Wave Analysis: Day and 4-Hour Chart Forecast for Traders

This post provides a comprehensive USDCHF Elliott Wave analysis, including insights from day and 4-h...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

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

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

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

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • 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