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Monero/U.S.dollar(XMRUSD) Elliott Wave Technical Analysis 10 March 23


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Elliott Wave Analysis TradingLounge Daily Chart, 10 March 23,  

Monero/U.S.dollar(XMRUSD)

XMRUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: Wave (C)

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

Details: Retracement of wave ((2)) equal to .786 x Length wave ((1)) at 131.409

Wave Cancel invalid Level: 116

 

Monero/U.S.dollar(XMRUSD)Trading Strategy: Monero continued to decline from the 188.120 level and descended below the MA200 line, making it a clear downtrend. But even so, the declining price structure is a corrective wave pattern. We still expect a retracement in the second wave. before rising again in the third wave where the level of 116.070 must not be broken to support this idea.

 

Monero/U.S.dollar(XMRUSD)Technical Indicators: The price is below the MA200 indicating a DownTrend. The wave oscillators below Zero-Line momentum are bearish.

TradingLounge Analyst: Kittiampon Somboonsod

 

XMRDay.thumb.png.cf3b382c5e2cf197cb1768aadc1da687.png

 

Elliott Wave Analysis TradingLounge 4H Chart, 10 March 23,  

Monero/U.S.dollar(XMRUSD)

XMRUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: Wave (C)

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

Details: Retracement of wave ((2)) equal to .786 x Length wave ((1)) at 131.409

Wave Cancel invalid Level: 116

Monero/U.S.dollar(XMRUSD)Trading Strategy: Monero continued to decline from the 188.120 level and descended below the MA200 line, making it a clear downtrend. But even so, the declining price structure is a corrective wave pattern. We still expect a retracement in the second wave. before rising again in the third wave where the level of 116.070 must not be broken to support this idea.

Monero/U.S.dollar(XMRUSD)Technical Indicators: The price is below the MA200 indicating a DownTrend. The wave oscillators below Zero-Line momentum are bearish.

XMRh4.thumb.png.2e7233d9fe3f4a2b3317a2f901fa4f35.png

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