Vechain Elliott Wave technical analysis [Video]

VET/USD Elliott Wave technical analysis

• Function: Counter trend.

• Mode: Corrective.

• Structure: Double Corrective.

• Position: Wave Y.

• Next Direction Higher Degree: Pending.

• Wave Cancel Invalid Level: Under Review.

Vechain/US Dollar (VETUSD) - Trading strategy:

The VET/USD pair appears to be nearing the end of Wave II, which is a part of the corrective structure. If the price drops close to the 0.020 – 0.018 range and then shows a sharp upward move, it would indicate the potential beginning of an impulsive Wave III to the upside.

Trading strategies:

• General approach

• • Short-Term Traders (Swing Trading)

  • • Monitor RSI/MACD for divergence and ensure the price does not form a new confirmed low.

    • If a reversal candlestick such as a Bullish Engulfing appears with supporting volume, consider initiating buy positions.

• Risk Management

• • If the price drops below 0.01700, the Wave II structure becomes invalid and should be reanalyzed.

VET/USD Elliott Wave technical analysis

• Function: Counter trend.

• Mode: Corrective.

• Structure: Double Corrective.

• Position: Wave Y.

• Next Direction Higher Degree: Pending.

• Wave Cancel Invalid Level: Under Review.

Vechain/US Dollar (VETUSD) - Trading strategy:

VET/USD remains in the late phase of the corrective Wave II. A drop near 0.020 – 0.018 followed by a strong reversal may signal the start of Wave III and a bullish shift in momentum.

Trading strategies:

• General approach

• • Short-Term Traders (Swing Trading)

  • • Look for RSI/MACD divergence and ensure no new significant lows occur.

    • A strong bullish reversal candle with volume could indicate a buying opportunity.

• Risk management

• • If the price declines below 0.01700, the current wave analysis becomes invalid and must be revised.

VET/USD Elliott Wave technical analysis [Video]