Dogecoin(DOGETUSD) Elliott Wave Analysis 18 August 2022

[tradinglounge]

Elliott Wave Analysis TradingLounge Daily Chart, 18 August 2022, Dogecoin(DOGETUSD)
DOGEUSD Elliott Wave Technical Analysis Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave (C)
Direction Next higher Degrees: wave ((4)) of Impulse Details: reduction in wave ((5)) before are rising again.

Wave Cancel invalid Level :
Dogecoin(DOGETUSD) Trading Strategy: Wave ((4)) seems to have finished and the price wil drop again on wave ((5)), so it's a good opportunity to look for another opportunity to join the downtrend.

Dogecoin(DOGETUSD) Technical Indicators: RSI returns from Overbought Zone TradingLounge Analyst: Kittiampon Somboonsod

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 17 August 2022, Dogecoin(DOGETUSD)
DOGEUSD Elliott Wave Technical Analysis Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave 5
Direction Next higher Degrees: wave (C) of Zigzag Details: decrease again in wave ((5)).

Wave Cancel invalid Level :
Dogecoin(DOGETUSD) Trading Strategy: Wave ((4)) seems to have finished and the price wil drop again on wave ((5)), so it's a good opportunity to look for another opportunity to join the downtrend.

Dogecoin(DOGETUSD) Technical Indicators: RSI Signals Bearish Divergence.