Wave (5)'s five-wave increase lacked two more moves. in the correction in wave (4) and rose again in wave (5). Therefore, overall VeChain is still in an uptrend.

VeChain/U.S. dollar(VETUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillators a bullish Momentum.

Elliott Wave Analysis TradingLounge 4H Chart, 16 February 24,

VeChain/U.S. dollar(VETUSD).

VET/USD Elliott Wave technical analysis

Function: Follow trend.

Mode: Motive.

Structure: Impulse.

Position: Wave ((5)).

Direction Next higher Degrees: Wave I of Impulse.

Wave Cancel invalid Level: 0.2100.

Details: Wave (5)'s five-wave increase.

VeChain/U.S. dollar(VETUSD)Trading Strategy:

Wave (5)'s five-wave increase lacked two more moves. in the correction in wave (4) and rose again in wave (5). Therefore, overall VeChain is still in an uptrend.

VeChain/ U.S. dollar(VETUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillators a bullish Momentum.

Technical Analyst: Kittiampon Somboonsod.

Author

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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