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Chainlink Elliott Wave technical analysis [Video]

Chainlink Elliott Wave technical analysis [Video]
Peter MathersPeter MathersTradingLounge

LINK/USD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Double Corrective.

Position: Wave Y.

Direction next higher degrees: Wave ((II)) of Impulse.

Wave cancel invalid Level: 8.498.

Details: Wave (II) is equal to 61.8% of Wave (I) at 8.86 Level.

ChianLink/ U.S. dollar(LINKUSD)Trading Strategy: ChainLink overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend.

ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

LINK/USD Elliott Wave analysis daily chart

LINK

LINK/USD Elliott Wave technical analysis four-hour chart

Function: Counter Trend.

Mode: Corrective.

Structure: Double Corrective.

Position: Wave Y.

Direction Next higher Degrees: Wave ((II)) of Impulse.

Wave Cancel invalid Level: 8.498.

Details: Wave (II) is equal to 61.8% of Wave (I) at 8.86 Level.

ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: Chainlink overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend.

 Chainlink/ U.S. dollar(LINKUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

Chart

Chainlink Elliott Wave technical analysis [Video]

Author

Peter Mathers

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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