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VeChain Elliott Wave technical analysis [Video]

VeChain Elliott Wave technical analysis [Video]
Peter MathersPeter MathersTradingLounge

VET/USD Elliott Wave technical analysis

Function: Counter trend.    

Mode: Corrective.

Structure: Double corrective.

Position: Wave ((Y)).

Direction next higher degrees: Wave II of impulse.

Wave cancel invalid level: 0.2100.

Details: Wave II May is complete and the price increase again in wave III.

VET/USD trading strategy

The correction in wave II appears to be complete and the price is resuming the upward trend. Therefore, looking for opportunity to join the uptrend you may have to wait for confirmation. After the price rose above 0.0386.

VET/USD technical indicators 

The price is below the MA200 indicating a downtrend, the wave oscillator is a bearish momentum.

VET/USD Elliott Wave technical analysis

Function: Counter trend.  

Mode: Corrective.

Structure: Double corrective.

Position: Wave ((Y)).

Direction next higher degrees: Wave II of impulse.

Wave cancel invalid level: 0.2100.

Details: Wave II May is complete and the price increase again in wave III.

VET/USD trading strategy

The correction in Wave II appears to be complete and the price is resuming the upward trend. Therefore, looking for opportunity to join the uptrend you may have to wait for confirmation. After the price rose above 0.0386.

VET/USD technical indicators 

The price is below the MA200 indicating a downtrend, the wave oscillator is a bearish momentum.

VET/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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