Image Source: PexelsElliott Wave Analysis TradingLounge Daily Chart, 30 November 23,Dogecoin/ U.S. dollar(DOGEUSD)DOGEUSD Elliott Wave Technical AnalysisFunction: Counter trendMode: CorrectiveStructure: …..Position: Wave 2Direction Next higher Degrees: wave ((2)) of ImpulseWave Cancel invalid Level: 4.50Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))Dogecoin / U.S. dollar(DOGEUSD)Trading Strategy: Dogecoin recovered well from the 0.0573 level and even managed to expand in five waves. Actions in the same direction as a trend one level larger than itself develop in a five-wave pattern. And now the price is entering a correction period which will give us another opportunity to join the trend. Wait for the correction in wave 2 to be completed.Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bearish Momentum.TradingLounge Analyst: Kittiampon Somboonsod, CEWASource : Tradinglounge.comElliott Wave Analysis TradingLounge 4H Chart, 30 November 23,Dogecoin/ U.S. dollar(DOGEUSD)DOGEUSD Elliott Wave Technical AnalysisFunction: Counter trendMode: CorrectiveStructure: …..Position: Wave 2Direction Next higher Degrees: wave ((2)) of ImpulseWave Cancel invalid Level: 4.50Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))Dogecoin / U.S. dollar(DOGEUSD)Trading Strategy: Dogecoin recovered well from the 0.0573 level and even managed to expand in five waves. Actions in the same direction as a trend one level larger than itself develop in a five-wave pattern. And now the price is entering a correction period which will give us another opportunity to join the trend. Wait for the correction in wave 2 to be completed.Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bearish Momentum.
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