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Elliott Wave Analysis TradingLounge Daily Chart,VeChain / U.S. dollar(VETUSD)VETUSD Elliott Wave Technical AnalysisFunction: Counter trend Mode: CorrectiveStructure: Double CorrectivePosition: Wave ((Y))Direction Next higher Degrees: wave II of ImpulseWave Cancel invalid Level: 0.2100Details: Wave II May is complete and the price increase again in Wave III.VeChain / U.S. dollar(VETUSD)Trading Strategy:VeChain’s trend seems to be over as the price action in Wave 1 is likely to be over. The price is entering a correction in Wave 2, which is likely to test the 50-61.8% level of Wave 1 before rising again in Wave 3. So, look for an opportunity to rejoin the trend.VeChain / U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bullish Momentum.
Elliott Wave Analysis TradingLounge H4 Chart,VeChain / U.S. dollar(VETUSD)VETUSD Elliott Wave Technical AnalysisFunction: Counter trend Mode: CorrectiveStructure: Double CorrectivePosition: Wave YDirection Next higher Degrees: wave (2) of ImpulseWave Cancel invalid Level: 0.2100Details: Wave(2)I May is complete and the price increase again in Wave (3)VeChain / U.S. dollar(VETUSD)Trading Strategy:VeChain’s trend seems to be over as the price action in Wave 1 is likely to be over. The price is entering a correction in Wave 2, which is likely to test the 50-61.8% level of Wave 1 before rising again in Wave 3. So, look for an opportunity to rejoin the trend.VeChain / U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.
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