Dogecoin Elliott Wave technical analysis [Video]
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DOGE/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Zigzag.
Position: Wave ((C)).
Direction next higher degrees: Wave I of impulse.
Details: Wave ((4) may is complete and the price entry to uptrend again.
DOGE/USD trading strategy
A five-wave increase in the impulse pattern, with the fourth wave now appearing to be complete. And prices are rising again in the fifth wave. So the overall picture is increasing again. Look for opportunities to join the upward trend from the correction.
DOGE/USD technical indicators
The price is below the MA200 indicating an uptrend, the wave oscillator is a bullish momentum.
DOGE/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Zigzag.
Position: Wave A.
Direction next higher degrees: Wave V of impulse.
Details: Wave ((2)) is equal to 61.8% of wave ((1)) at 0.1373.
DOGE/USD trading strategy
The correction in wave ((2)) is likely to test the 61.8% level (0.1373) before rising again in wave ((3)), waiting for the correction to complete to rejoin the trend further uptrend.
DOGE/USD technical indicators
The price is below the MA200 indicating an uptrend, the wave oscillator is a bullish momentum.
DOGE/USD Elliott Wave technical analysis [Video]
Author
Peter Mathers
TradingLounge
Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.
