Uniswap / U.S.dollar(UNIUSD) Elliott Wave Technical Analysis 8 February 23

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Elliott Wave Analysis TradingLounge Daily Chart, 8 February 23,  

Uniswap / U.S.dollar(UNIUSD)

UNIUSD Elliott Wave Technical Analysis

Function: Follow trend    

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next higher Degrees: wave III of Motive

Details: Wave 3 rise is likely towards the level of 15.37

Wave Cancel invalid Level: 4.946

Uniswap / U.S.dollar(UNIUSD)Trading Strategy: Uniswap is likely to recover well as price breaks through the MA50 and MA200 are bullish signals. and leads to the movement of wave III that is usually equal to 1.618 x the length of wave I at the level of 15.371.

Uniswap / U.S.dollar(UNIUSD) Technical Indicators: The price is above the MA200 indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish.

TradingLounge Analyst: Kittiampon Somboonsod

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 8 February 23,  

Uniswap / U.S.dollar(UNIUSD)

UNIUSD Elliott Wave Technical Analysis

Function: Counter trend    

Mode: Corrective

Structure: Flat

Position: Wave (B)

Direction Next higher Degrees: wave ((2)) of Motive

Wave Cancel invalid Level: 4.95

Details: Pullback of wave (B) when end, the price decline to wave (C)again.

Uniswap / U.S.dollar(UNIUSD)Trading Strategy: Uniswap There is a strong recovery trend when the price breaks MA50 and MA200 is a good sign. But nevertheless, the price is in a phase of retracement in wave (2), when it finishes, the price resumes upward trend. Wait for wave ((2)) to complete.

Uniswap / U.S.dollar(UNIUSD)Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators below Zero-Line Bearish momentum.