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Dogecoin Elliott Wave technical analysis [Video]

Dogecoin Elliott Wave technical analysis [Video]
Peter MathersPeter MathersTradingLounge

DOGE/USD Elliott Wave technical analysis 

Function: Counter trend.   

Mode: Corrective.

Structure: Zigazg.

Position:  Wave ((C)).

Direction next higher degrees: Wave I of Impulse.

Details: The corrective of Wave 4 before entry to uptrend again.

Dogecoin/ U.S. dollar (DOGEUSD) Trading Strategy: The fourth wave correction is likely to go down to test the 0.1169 level before rising again in the fifth wave. Therefore, the overall outlook is for a short-term pullback to continue rising. Wait for the correction to complete to re-enter the trend.

Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.

Chart

DOGE/USD Elliott Wave technical analysis 

Function: Follow trend.    

Mode: Motive.

Structure:  Impulse.

Position:  Wave (5).

Direction next higher degrees: Wave ((C)) of Zigzag

Details: We missing one Move down in wave 5 before the price entry to Uptrend again   

Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy: A fourth wave correction came before falling again in the fifth wave. Therefore, the overall picture is a continuous decline. Wait for the correction to complete to re-enter the trend

Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.

Chart

Dogecoin 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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