Image Source: PexelsElliott Wave Analysis TradingLounge Daily ChartChainLink/ U.S. dollar(LINKUSD)LINKUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Triple CorrectivePosition: Wave ZDirection Next higher Degrees: Wave ((II)) of ImpulseWave Cancel invalid Level: Details:: Wave (II) is likely to retest at 6.882ChainLink/ U.S. dollar(LINKUSD)Trading Strategy:
The correction in wave ((2)) seems to be not over yet, so we focus on the decline in wave ((2)). It is likely to go down to test the 6.882 level, but all this is a short-term pullback. Look for a resumption of the trend.ChainLink/ U.S. dollar(LINKUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend. The Wave Oscillator is a Bullish Momentum.
Elliott Wave Analysis TradingLounge 4hr ChartChainLink/ U.S. dollar(LINKUSD)LINKUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Triple CorrectivePosition: Wave ZDirection Next higher Degrees: Wave ((II)) of ImpulseWave Cancel invalid Level: Details:: Wave (II) is likely to retest at 6.882ChainLink/ U.S. dollar(LINKUSD)Trading Strategy:
The correction in wave ((2)) seems to be not over yet, so we focus on the decline in wave ((2)). It is likely to go down to test the 6.882 level, but all this is a short-term pullback. Look for a resumption of the trend.ChainLink/ U.S. dollar(LINKUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend. The Wave Oscillator is a Bullish Momentum.
Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.comMore By This Author:Elliott Wave Technical Analysis: CAC 40 – Thursday, Oct. 17
Soybean Commodity Elliott Wave Technical Analysis – Thursday, October 17
Deere & Co. Stocks Elliott Wave Technical Analysis – Thursday, October 17
