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)) may be complete, and the price is entering an uptrend again.

Dogecoin/U.S. Dollar (DOGEUSD) Trading Strategy:

• A five-wave increase in the Impulse pattern, with the fourth wave now appearing complete.
• Prices are rising again in the fifth wave.
• The overall trend is increasing again.
• 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) 4-Hour 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)) is equal to 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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