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Ethereum / U.S.Dollar (ETHUSD) Elliott Wave Technical Analysis 9 December 2022


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Elliott Wave Analysis TradingLounge Daily Chart, 9 December 2022,

Ethereum / U.S.Dollar (ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function:Follow trend

Mode:Motive

Structure:Impulse

Position: Wave ((1))

Direction Next higher Degrees: Wave 1 of Wave III

Details: The rise of wave 1, upon completion, the price will reverse in wave 2, but must notreverse below 1071.1

Wave Cancel invalid Level: 1071.11

Ethereum / U.S.Dollar (ETHUSD) Trading Strategy: Ethereum price remains under heavysell pressure below the MA200 MA50, indicating a strong downtrend. The wave oscillatorswith a Bullish divergence signal Ethereum are likely to reverse again. And we expect theprice to trade above 1677 overall. We still need to trade cautiously as there is still someselling pressure.

Ethereum / U.S. dollar (ETHUSD) Technical Indicators: The price is below the MA200 MA50,indicating a clear downtrend. The wave oscillators with a Bullish divergence signal Ethereumare likely to reverse again

TradingLounge Analyst: Kittiampon Somboonsod

 

2078371470_ETHDay.thumb.png.0a3a3c5edf3a3077196a935a087ee6a5.png

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 9 December 2022,

Ethereum / U.S.Dollar (ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function:Follow trend

Mode:Motive

Structure:Impulse

Position: Wave (3)

Direction Next higher Degrees:

Details: Rise an uptrend in wave 3, Wave 3 is usually 1.618 or 2.618 x the length of wave 1

Wave Cancel invalid Level: 1071.11

Ethereum / U.S.Dollar (ETHUSD) Trading Strategy: Ethereum has recovered well, as theprice managed to return above the MA200, and MA50 lines and the Wave oscillator signalsa hidden Bullish divergence, so the price is likely to rise again with a target price of 1536.05.

Ethereum / U.S. dollar (ETHUSD)Technical Indicators: The price is above the MA200 MA50,indicating an uptrend. Wave oscillator signals a hidden Bullish divergence is likely to reverse again.

212001557_ETHH4.thumb.png.90258ae0be05613ad98f834578b894a1.png

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    • This is not an acceptable explanation for me unfortunately, I am fully aware of the need to move spreads and I had accounted for that. Especially at the open of a market, but your spread was totally unreasonable the spread on DEC contracts is already at 130pip standard, to increase it to 400pips and hold it there even after 5 mins of trading. As my execution was a 09:06 the main market volatility had already been accounted for.   So disappointing after 6years being a customer and on a profitable trade as well: 
    • Dear @MB1470, Thank you for your post. Please note that dealing spreads on shares are subject to variation, especially in volatile market conditions or other unusual circumstances.  Market spreads can widen significantly, particularly at the beginning and end of the trading day, and minimum spreads may exist. Thanks, KoketsoIG
    • This morning at the market open on NOVO DEC contracts. On Spread Bet.    the spread moved from 138pips to close to 400 pips? How can this be reasonable the candle is only displayed on a 15-2min time period not on smaller periods. At market open 09:00 ????? How is this even remotely reasonable?     
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