Monero (XMRUSD) Elliott Wave Technical Analysis 22 November 2022

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Elliott Wave Analysis TradingLounge Daily Chart, 22 November 2022,

Monero (XMRUSD)

XMRUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure:Zigzag

Position:Wave C

Direction Next higher Degrees:Wave (2) of Motive

Details:Decrease of wave C in the Zigzag Pattern but must not reverse below 96.770 inorder to rise again

Wave Cancel invalid Level:96.770:

Monero (XMRUSD) Trading Strategy: The drop in wave C, XMRUSD remains in adowntrend as prices remain below the MA50 MA200 even though the end is near.Entering a trade should wait for confirmation of a bullish reversal first. Because theprice is still under pressure from selling.

Monero (XMRUSD) 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

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 22 November 2022,

Monero (XMRUSD)

XMRUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode:Motive

Structure: Impulse

Position:Wave 5

Direction Next higher Degrees: wave C of Zigzag

Details: The decline of wave 5, the price is likely to trade below 116

Wave Cancel invalid Level: 135

Monero (XMRUSD)Trading Strategy: The drop in wave 5, XMRUSD remains in adowntrend as prices remain below the MA50 MA200 even though the end is near.Entering a trade should wait for confirmation of a bullish reversal first. Because theprice is still under pressure from selling.

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