Image Source: PixabayElliott Wave Analysis TradingLounge Daily ChartVechain/ 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 not be complete, price is likely to be below 0.01781.Vechain/ U.S. dollar(VETUSD)Trading Strategy:
This is a Five-wave retracement of wave (C), where we are in the final stages of wave Y, which is likely to test the 0.017 level. So the overall picture is a short-term retracement before another rally.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 4hr ChartVechain/ 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 not be complete, price is likely to be below 0.01781.Vechain/ U.S. dollar(VETUSD)Trading Strategy:
This is a Five-wave retracement of wave (C), where we are in the final stages of wave Y, which is likely to test the 0.017 level. So the overall picture is a short-term retracement before another rally.Vechain/ U.S. dollar(VETUSD)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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