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VET/USD Elliott Wave technical analysis [Video]

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

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).

Chart

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.

Chart

VETUSD 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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