VET/USD Elliott Wave technical analysis [Video]

VETUSD Elliott Wave technical analysis

• Function: Follow-trend.

• Mode: Motive.

• Structure: Impulse.

• Position: Wave 2.

• Next higher degrees direction: Uptrend.

• Wave cancel invalid level: 0.01780.

VETUSD trading strategy

After rebounding from the lows near $0.017, VeChain (VETUSD) is forming an Impulse wave. Wave (1) is now completed, and the market is consolidating in wave (2).

Trading strategies

• Short-term traders (Swing trade).
  Look for reversal signs in the $0.20 – $0.19 zone to potentially enter the upward trend.

• Structure null point: 0.01780 (Wave Count Invalid).

VETUSD Elliott Wave technical analysis

• Function: Follow-trend.

• Mode: Motive.

• Structure: Impulse.

• Position: Wave 2.

• Next higher degrees direction: Uptrend.

• Wave cancel invalid level: 0.01780.

VETUSD trading strategy

The price recovery from $0.017 shows early signs of an Impulse wave structure. Wave (1) appears completed. Currently, wave (2) is forming, and traders can watch for bullish reversal patterns.

Trading strategies

• Swing Traders:
  Entry opportunities may arise in the $0.20 – $0.19 range upon confirmation of a reversal.

• Invalidation level: 0.01780.

VETUSD Elliott Wave technical analysis [Video]