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VET/USD Elliott Wave technical analysis [Video]

VET/USD Elliott Wave technical analysis [Video]
Peter MathersPeter MathersTradingLounge

Elliott Wave Analysis TradingLounge Daily Chart, 6 February 24, 

VeChain /US 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)) is equal to 61.8% of Wave ((1)) through wave ((3)) at 0.04095

VeChain /US Dollar(VET/USD)trading strategy

It appears that the correction in the fourth wave is complete. And we are entering another fifth wave of increases. We expect the price to test the level of 0.04095, which is the level of 61.8% of Wave 1 through Wave 3.

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

TradingLounge Analyst: Kittiampon Somboonsod 

Elliott Wave Analysis TradingLounge 4Hr Chart, 6 February 24,  

VCHAIN / 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)) is equal to 61.8% of Wave ((1)) through wave ((3)) at 0.04095

VeChain /US Dollar(VET/USD) trading strategy

It appears that the correction in the fourth wave is complete. And we are entering another fifth wave of increases. We expect the price to test the level of 0.04095, which is the level of 61.8% of Wave 1 through Wave 3.

VeChain /U.S. dollar(VETUSD) Technical Indicators: The price is below the MA200 indicating a downtrend, Wave Oscillators a bearish Momentum.

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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