DOGEUSD Elliott Wave Analysis TradingLounge Daily Chart

Dogecoin/ U.S. dollar (DOGEUSD) Daily Chart Analysis

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave ((C))

Direction Next Higher Degrees: Wave I of Impulse

Wave Cancel Invalid Level:

Details: Wave ((4)) appears complete, and the price is re-entering an uptrend.

Dogecoin/ U.S. dollar (DOGEUSD) Trading Strategy:
A five-wave increase in the Impulse pattern, with the fourth wave now complete. Prices are rising again in the fifth wave. The overall trend is increasing. Look for opportunities to join the upward trend from the correction.

Dogecoin/ U.S. dollar (DOGEUSD) Technical Indicators:
The price is below the MA200, indicating an uptrend. The Wave Oscillator shows bullish momentum.

DOGEUSD Elliott Wave Analysis TradingLounge H4 Chart

Dogecoin/ U.S. dollar (DOGEUSD) H4 Chart Analysis

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave A

Direction Next Higher Degrees: Wave V of Impulse

Wave Cancel Invalid Level:

Details: Wave ((2)) equals 61.8% of Wave ((1)) at 0.1373.

Dogecoin/ U.S. dollar (DOGEUSD) Trading Strategy:
The correction in wave ((2)) is likely to test the 61.8% level (0.1373) before rising again in wave ((3)). Wait for the correction to complete to rejoin the uptrend.

Dogecoin/ U.S. dollar (DOGEUSD) Technical Indicators:
The price is below the MA200, indicating an uptrend. The Wave Oscillator shows bullish momentum.

Technical Analyst:  Kittiampon Somboonsod

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

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