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Elliott Wave Analysis TradingLounge Daily Chart, 20 November 2023.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, RSI is a Bullish Momentum.Analyst: Kittiampon Somboonsod, CEWAElliott Wave Analysis TradingLounge 4H Chart, 20 November 2023Dogecoin/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, RSI is a Bullish Momentum.
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