Jump to content

Ethereum(ETHUSD) Elliott Wave Technical Analysis 29 November 2022


Recommended Posts

Elliott Wave Analysis TradingLounge Daily Chart, 29 November 2022,

Ethereum(ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function:Counter trend

Mode:Corrective

Structure:Double corrective

Position: Wave (Y)

Direction Next higher Degrees: Sub-wave of Wave 2

Details: decrease in wave Y but must not fall below 879

Wave Cancel invalid Level: 879

Ethereum(ETHUSD Trading Strategy: The structure in the big picture is scaled downby a Double Corrective pattern in the lower wave ((Y)), but the inner sub-waves ofwave II tend to complete. Overall, there is still a chance to reverse the upward trendagain but must not go below 1073.

Ethereum(ETHUSD Technical Indicators: The price is above the MA200 MA50,indicating a downtrend. The Wave oscillator has a Bullish divergence price slowingdown

TradingLounge Analyst: Kittiampon Somboonsod

 

481111632_ETHDay.thumb.png.20a59fac0ff73295a401437707d81c1f.png

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 29 November 2022,

Ethereum(ETHUSD

ETHUSD Elliott Wave Technical Analysis

Function:Follow trend

Mode:Motive

Structure:Impulse

Position: Wave (3)

Direction Next higher Degrees:

Details: The rise of wave 1, upon completion, the price will reverse in wave 2, but must notreverse below 1071.11

Wave Cancel invalid Level: 1071.11

Ethereum(ETHUSD) Trading Strategy: Price structure in wave 3 to trade above 1529,but because the price was pressured by selling pressure, causing it to be below theMA200, and MA50 line, trading during this period may have to wait for buyingpressure to come back above the MA50 or MA200 line.

Ethereum(ETHUSD) Technical Indicators: The price is above the MA200 MA50,indicating a downtrend. The Wave oscillator has a Bullish divergence price slowing down.

34500248_ETHH4.thumb.png.d770a19d49a26d53bfb825df48e4ca65.png

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,195
    • Total Posts
      90,731
    • Total Members
      41,305
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    sbehdadkia
    Joined 30/01/23 19:24
  • Posts

    • Trying to buy First Trust Nasdaq Cybersecurity ETF (CIBR) but the order keeps getting rejected, even with Order type = limit and expiry = Day (all  sessions).  Please advise.
    • @MongiIG How long does it take to reply to a simple question?
    • Look Ahead to 31/1/23: Big data from the US, China, Japan; PFE, XOM, AMD earnings Ahead of the Fed meeting and the key US jobs report, investors get set to digest retail sales numbers from Germany and Japan. Plus, look out for consumer-related data from China, France, and the US. Earnings see Pfizer (PFE), Exxon Mobil (XOM) and Advanced Micro Devices (AMD) hand in their Q4 report cards.   Angeline Ong | Presenter, Analyst and Content Editor, London | Publication date: Monday 30 January 2023        
×
×
  • Create New...