Elliott Wave Analysis TradingLounge Daily Chart

Dogecoin / U.S. Dollar (DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave ((C))

Direction Next Higher Degrees: Wave II of Impulse

Wave Cancel Invalid Level:

Details: Wave (II) may be complete and the price may enter an uptrend again.

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

The second wave of Zigzag consolidation appears to be complete. The price has increased again during the third wave. The overall picture suggests another increase. Look for opportunities to join the uptrend from a short-term correction within the third wave.

Dogecoin / U.S. Dollar (DOGEUSD) Technical Indicators

• The price is below the MA200, indicating a downtrend.
• The Wave Oscillator shows bearish momentum.

Elliott Wave Analysis TradingLounge H4 Chart

Dogecoin / U.S. Dollar (DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave ((C))

Direction Next Higher Degrees: Wave II of Impulse

Wave Cancel Invalid Level:

Details: Wave II may be complete and the price may enter an uptrend again.

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

The second wave of Zigzag consolidation appears to be complete. The price has increased again during the third wave. The overall picture suggests another increase. Look for opportunities to join the uptrend from a short-term correction within the third wave.

Dogecoin / U.S. Dollar (DOGEUSD) Technical Indicators

• The price is below the MA200, indicating a downtrend.
• The Wave Oscillator shows bearish momentum.

Technical Analyst:  Kittiampon Somboonsod

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

See Previous: BTCUSD Elliott Wave Technical Analysis 

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