THETA/USD Elliott Wave technical analysis [Video]
|THETA/USD Elliott Wave technical analysis – Daily chart
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Function: Trend-following.
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Mode: Motive.
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Structure: Impulse.
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Current position: Wave 5.
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Next direction (higher degree): To be monitored.
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Wave cancellation level (invalidation): Not specified.
THETA/USD trading strategy
Following a completed 5-wave downward sequence, THETAUSD is now presenting signs of potential reversal. The key resistance to watch is the $0.75 level. If the price successfully breaks this zone, it could signal a bullish trend reversal.
Trading strategies
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Approach:
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Short-term traders (swing trade):
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If THETAUSD remains above $0.75, there's a higher probability for an uptrend to begin.
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Risk management:
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If the price drops below $0.57, this would invalidate the recovery scenario.
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THETA/USD Elliott Wave technical analysis – Four-hour chart
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Function: Trend-following.
-
Mode: Motive.
-
Structure: Impulse.
-
Current position: Wave 5.
-
Next direction (higher degree): To be monitored.
-
Wave cancellation level (invalidation): Not specified.
THETA/USD trading strategy
Following a completed 5-wave downward sequence, THETAUSD is now presenting signs of potential reversal. The key resistance to watch is the $0.75 level. If the price successfully breaks this zone, it could signal a bullish trend reversal.
Trading strategies
-
Approach:
-
Short-term traders (swing trade):
-
If THETAUSD remains above $0.75, there's a higher probability for an uptrend to begin.
-
Risk management:
-
If the price drops below $0.57, this would invalidate the recovery scenario.
THETA/USD Elliott Wave technical analysis [Video]
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