THETA/USD Elliott Wave technical analysis [Video]
|Elliott Wave Analysis - TradingLounge Daily Chart,
THETA/ U.S. Dollar (THETAUSD).
THETAUSD Elliott Wave technical analysis
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Function: Counter-trend.
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Mode: Corrective.
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Structure: Zigzag.
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Position: Wave ((C)).
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Next higher degree direction: Wave E of Triangle.
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Wave invalidation level:
Details: THETAUSDT is approaching the final stage of the ABCDE Triangle pattern. If the price successfully breaks the 1.485 USD level, it will indicate a potential uptrend.
THETA/U.S. Dollar (THETAUSD) Trading Strategy
The current strong correction follows an ABC Zigzag Correction structure, forming the E wave of the Triangle. This corrective move is nearing completion and could test the 1.052 USDT support level.
Trading strategies:
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Long Strategy:
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Buy at 1.052 USDT if a reversal signal appears.
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Breakout Entry: Buy upon breaking 1.485 USD with increased volume.
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Risk Management:
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Invalidation Point: Cut losses if the price drops below 0.899 USDT.
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Elliott Wave Analysis - TradingLounge H4 Chart,
THETA/ U.S. Dollar (THETAUSD).
THETAUSD Elliott Wave technical analysis
-
Function: Counter-trend.
-
Mode: Corrective.
-
Structure: Zigzag.
-
Position: Wave ((C)).
-
Next higher degree direction: Wave E of Triangle.
-
Wave invalidation level:
Details: THETAUSDT remains near the completion phase of the ABCDE Triangle pattern. If it successfully surpasses 1.485 USD, it will signal a bullish continuation.
THETA/ U.S. Dollar (THETAUSD) Trading Strategy
The strong corrective wave is identified as an ABC Zigzag Correction, forming Wave E of the Triangle. The price seems to be stabilizing around 1.052 USDT before making a potential move.
Trading strategies:
-
Long Strategy:
-
Buy on a rebound from 1.052 USDT if a reversal signal emerges.
-
Breakout Entry: Buy after breaking 1.485 USD with high volume confirmation.
-
-
Risk Management:
-
Invalidation Point: Stop loss if the price drops below 0.899 USDT.
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TradingLounge analyst: Kittiampon Somboonsod, CEWA.
THETAUSD Elliott Wave technical analysis [Video]
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