Vechain Elliott Wave technical analysis [Video]
|VET/USD Elliott Wave technical analysis
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Function: Counter trend.
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Mode: Corrective.
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Structure: Double Corrective.
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Position: Wave Y.
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Next Direction Higher Degree: Pending.
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Wave Cancel Invalid Level: Under Review.
Vechain/US Dollar (VETUSD) - Trading strategy:
The VET/USD pair appears to be nearing the end of Wave II, which is a part of the corrective structure. If the price drops close to the 0.020 – 0.018 range and then shows a sharp upward move, it would indicate the potential beginning of an impulsive Wave III to the upside.
Trading strategies:
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General approach
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Short-Term Traders (Swing Trading)
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Monitor RSI/MACD for divergence and ensure the price does not form a new confirmed low.
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If a reversal candlestick such as a Bullish Engulfing appears with supporting volume, consider initiating buy positions.
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Risk Management
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If the price drops below 0.01700, the Wave II structure becomes invalid and should be reanalyzed.
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VET/USD Elliott Wave technical analysis
-
Function: Counter trend.
-
Mode: Corrective.
-
Structure: Double Corrective.
-
Position: Wave Y.
-
Next Direction Higher Degree: Pending.
-
Wave Cancel Invalid Level: Under Review.
Vechain/US Dollar (VETUSD) - Trading strategy:
VET/USD remains in the late phase of the corrective Wave II. A drop near 0.020 – 0.018 followed by a strong reversal may signal the start of Wave III and a bullish shift in momentum.
Trading strategies:
-
General approach
-
-
Short-Term Traders (Swing Trading)
-
-
Look for RSI/MACD divergence and ensure no new significant lows occur.
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A strong bullish reversal candle with volume could indicate a buying opportunity.
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Risk management
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If the price declines below 0.01700, the current wave analysis becomes invalid and must be revised.
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VET/USD Elliott Wave technical analysis [Video]
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