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Elliott Wave Analysis TradingLounge Daily Chart, 8 November 23,
Monero/ U.S. dollar(XMRUSD)
XMRUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Correvtive
Structure: Triangle
Position: Wave E
Direction Next higher Degrees: Wave (B) of Zigzag
Wave Cancel invalid Level: 138.262
Details: Wave E may end and the price five-wave Increase in Wave (C) of Zigzag.
Monero/ U.S. dollar(XMRUSD)Trading Strategy: XMR recovered well from the 138.262 level, where the price structure can be divided into five waves in a diagonal pattern that points us to an uptrend forming. And currently the price is likely to enter a correction period. To give us another opportunity to join the trend. Waiting for the base adjustment to be completed.
Monero/ U.S. dollar(XMRUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.
TradingLounge Analyst: Kittiampon Somboonsod, CEWA
Source : Tradinglounge.com
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Elliott Wave Analysis TradingLounge 4H Chart, 8 November 23,
Monero/ U.S. dollar(XMRUSD)
XMRUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: ……
Position: Wave ((2))
Direction Next higher Degrees: Wave ((2)) of Impulse
Wave Cancel invalid Level: 138.262
Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))
Monero/ U.S. dollar(XMRUSD)Trading Strategy: XMR recovered well from the 138.262 level, where the price structure can be divided into five waves in a diagonal pattern that points us to an uptrend forming. And currently the price is likely to enter a correction period. To give us another opportunity to join the trend. Waiting for the base adjustment to be completed.
Monero/ U.S. dollar(XMRUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.
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