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Dogecoin (DOGEUSD) Elliott Wave Technical Analysis 16 November 2022


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Elliott Wave Analysis TradingLounge Daily Chart, 16 November 2022,

Dogecoin (DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: double corrective

Position: Wave (Y)

Direction Next higher Degrees:

Details: The decrease of wave (Y) has a trend to trade below 0.5528

Wave Cancel invalid Level: 0.07

Dogecoin (DOGEUSD) Trading Strategy: The structure in the larger image is reducedwith a double corrective pattern in the lower (Y) wave, but because the internal sub-wave of the wave is not yet complete. Overall, there is a chance that the rate willcontinue to decrease.

Dogecoin (DOGEUSD) Technical Indicators: The price is below the MA200 MA50,indicating a downtrend. The Wave oscillator below Zero-Line Momentum is bearish

TradingLounge Analyst: Kittiampon Somboonsod

 

1688793611_DOGEday.thumb.png.6a1f06e1a5e3b205c80b4eafe9429226.png

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 16 November 2022,

Dogecoin (DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 5

Direction Next higher Degrees: wave I of Motive

Details: The decrease of wave 5 is usually equal to the length of wave 1.

Wave Cancel invalid Level:

Dogecoin (DOGEUSD) Trading Strategy: The price is likely to trade below 0.069 as thedecline of wave 5 has the same length as wave 1. The price is also below the MA50MA200 and a hidden bearish divergence has been formed, so the outlook remains adowntrend.

Dogecoin (DOGEUSD) Technical Indicators: The price is below the MA200 MA50,indicating a clear downtrend. The Wave oscillator has hidden bearish divergence.

44204679_DOGEH4.thumb.png.2d4b5d92e0a85f9e13cb010a7b6662a1.png

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