Image Source: PexelsElliott Wave Analysis TradingLounge Daily ChartChainLink/ U.S. dollar(LINKUSD)LINKUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double CorrectivePosition: Wave YDirection Next higher Degrees: Wave ((II)) of ImpulseWave Cancel invalid Level: 8.498Details: Wave (II) is likely to have ended and prices are resuming the uptrend.ChainLink/U.S. dollar(LINKUSD)Trading Strategy:
ChainLink overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III). Waiting for the correction to complete to rejoin the uptrend.ChainLink/ U.S. dollar(LINKUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend. The Wave Oscillator is a Bearish Momentum.
Elliott Wave Analysis TradingLounge H4 ChartChainLink/ U.S. dollar(LINKUSD)LINKUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double CorrectivePosition: Wave YDirection Next higher Degrees: Wave ((II)) of ImpulseWave Cancel invalid Level: 8.498Details: Wave (II) is likely to have ended and prices are resuming the uptrend.ChainLink/ U.S. dollar(LINKUSD)Trading Strategy:
ChainLink overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III). Waiting for the correction to complete to rejoin the uptrend.ChainLink/ U.S. dollar(LINKUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend. The Wave Oscillator is a Bearish Momentum.Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.com
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