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Dogecoin Elliott Wave technical analysis [Video]

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.
Chart

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

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.

More from Peter Mathers
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