Dogecoin Elliott Wave technical analysis [Video]
![Dogecoin Elliott Wave technical analysis [Video]](https://editorial.fxsstatic.com/images/i/DOGE-neutral-line_XtraLarge.png)
DOGE/USD Elliott Wave technical analysis
Function: Follow trend.
Mode: Motive.
Structure: Impulse.
Position: Wave IV.
Direction next higher degrees: Wave (III) .
Wave cancel invalid level:
DOGE/USD trading strategy: DOGE/USD is likely to be in an uptrend Impulse Wave structure. It currently appears to be in wave IV with a downtrend. If the price can hold above 0.2038 , there is a chance to start wave V with the first target at 0.4846.
Trading strategies
Buy strategy (long position):
- If it breaks through 0.3417, it will confirm the continuation of wave V.
Risk management:
- If the price breaks the support level of 0.2038 (Wave Count Invalid), it will be a signal that the wave structure is incorrect.
DOGE/USD Elliott Wave technical analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave IV
Direction next higher degrees: Wave (III)
Wave cancel invalid level:
DOGE/USD trading strategy: DOGE/USD is likely to be in an uptrend Impulse Wave structure. It currently appears to be in wave IV with a downtrend. If the price can hold above 0.2038 there is a chance to start wave V with the first target at 0.4846.
Trading strategies
Buy strategy (long position):
- If it breaks through 0.3417, it will confirm the continuation of wave V.
Risk management:
- If the price breaks the support level of 0.2038 (Wave Count Invalid), it will be a signal that the wave structure is incorrect.
Dogecoin 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.
