DASH/USD Elliott Wave analysis – Eyes towards 400-500 level
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DSHUSD Eyes Towards 400-500 level.
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Be aware of Deep Correction after completing five waves move of 5 of5).
Looking at the daily chart, DSHUSD is still on the rise, unfolding five waves up from March 2020 lows, but we can see it now trading in wave (5) after a running flat correction in wave (4). However, there's still room for more upside towards 400-500 area, but be aware of limited gains and watch out for a higher degree corrective decline, as we know that after every five waves, a three-wave setback follows.
DSH/USD Elliott Wave analysis daily chart
On 4h chart, DSHUSD remains under bullish pressure and it's trying to continue higher back to highs for wave (5), ideally within a new five-wave cycle, where waves 4 and 5 are still missing. So, it can ideally stop somewhere in the 400-500 area and from where we should be aware of deeper, higher degree corrective decline.
DSH/USD Elliott Wave Analysis 4h Chart
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Author
Gregor Horvat
Wavetraders
Experience Grega is based in Slovenia and has been in the Forex market since 2003.
