VeChain/U.S. dollar(VETUSD) Elliott Wave Technical Analysis 18 October 23

[tradinglounge]

Elliott Wave Analysis TradingLounge Daily Chart, 18 October 23, 
VeChain/U.S. dollar(VETUSD)
VETUSD  Elliott Wave Technical Analysis
Function: Counter trend    
Mode: Corrective
Structure: Zigzag
Position: Wave (C)
Direction Next higher Degrees: wave ((2)) of Impulse
Wave Cancel invalid Level: 0.01318
Details: Wave (2) may is end at 0.01628 and the price move to wave(3)

VeChain/U.S. dollar(VETUSD)Trading Strategy: VeChain's overall picture is in a period of correction to accumulate power in Wave 2. The price is likely to come down to test. trend line below before rising again in wave 3

VeChain/U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend,  RSI is a Bearish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA





Elliott Wave Analysis TradingLounge 4H Chart, 18 October 23,  
VeChain/U.S. dollar(VETUSD)
VETUSD  Elliott Wave Technical Analysis
Function: Counter trend    
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Direction Next higher Degrees: wave ((3)) of Impulse
Wave Cancel invalid Level: 0.01318
Details: Wave (2) Equal to 78.6% of wave (1) at 0.015 

VeChain/U.S. dollar(VETUSD)Trading Strategy:  VeChain's overall picture is in a period of correction to accumulate power in Wave 2. The price is likely to come down to test. trend line below before rising again in wave 3

VeChain/U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend,  RSI is a Bearish Momentum.

[Imam]

Let it retract... Shorted at 36!