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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: Zigzag.

Position: Wave ((C)).

Direction next higher degrees: Wave IV of impulse.

Details: Wave IV May is complete and the price increase again in wave V.

DOGE/USD trading strategy

Overall, Dogecoin remains in an uptrend. Moreover, it looks like the correction is over. And prices are rising again in the fifth wave. But there may be a slight pullback before increasing. So look for opportunities to join the uptrend.

DOGE/USD technical indicators

The price is above the MA200 indicating an uptrend, the wave oscillator is a bullish momentum.

DOGE/USD Elliott Wave technical analysis 

Function: Follow trend.

Mode: Motive.

Structure: Impulse.

Position: Wave ((3)).

Direction next higher degrees: Wave V of impulse.

Details: Wave ((3)) is equal to 161.8% of wave ((1)) at 0.2488.

DOGE/USD trading strategy

Overall, Dogecoin remains in an uptrend. Moreover, it looks like the correction is over. And prices are rising again in the fifth wave. But there may be a slight pullback before increasing. So look for opportunities to join the uptrend.

DOGE/USD technical indicators

The price is above the MA200 indicating an uptrend, the wave oscillator is a bullish momentum.

DOGE/USD 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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