Elliott Wave Analysis TradingLounge Daily Chart,VeChain/ U.S. dollar(VETUSD)VETUSD Elliott Wave Technical AnalysisFunction: Counter trendMode: CorrectiveStructure: Double CorrectivePosition: Wave ((Y))Direction Next higher Degrees: wave II of ImpulseWave Cancel invalid Level: Details: 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 Bearish Momentum.
Elliott Wave Analysis TradingLounge H4 Chart,VeChain/ U.S. dollar(VETUSD)VETUSD Elliott Wave Technical AnalysisFunction: Counter trendMode: CorrectiveStructure: Double CorrectivePosition: Wave ((Y))Direction Next higher Degrees: wave II of ImpulseWave Cancel invalid Level: Details: 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.
Technical Analyst: Kittiampon SomboonsodMore By This Author:Elliott Wave Analysis: NDX, Apple, Tesla, Amazon, Nvidia, Microsoft, Meta, Netflix, Alphabet, Bitcoin
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