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ChainLink / U.S. dollar(LINKUSD) Elliott Wave Technical Analysis 14 December 23


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Elliott Wave Analysis TradingLounge Daily Chart, 14 December 23,

ChainLink / U.S. dollar(LINKUSD)

LINKUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave B

Direction Next higher Degrees: Wave IV of Impulse

Wave Cancel invalid Level: 8.259

Details: the three-wave Corrective of wave 4

ChainLink / U.S. dollar(LINKUSD)Trading Strategy: Chainlink remains in an uptrend. But it looks like wave 3 is complete at the 17.300 level and the price is entering a wave 4 correction, likely down to test the 12.890 level as an important support level. So wait for the correction of wave 4 to complete to rejoin the trend in wave 5.

ChainLink / U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

 

73b82aa3454ebab7857f5705bc4b9fe5

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 14 December 23,

ChainLink / U.S. dollar(LINKUSD)

LINKUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave B

Direction Next higher Degrees: Wave IV of Impulse

Wave Cancel invalid Level: 8.259

Details: the three-wave Corrective of wave 4

ChainLink / U.S. dollar(LINKUSD)Trading Strategy: Chainlink remains in an uptrend. But it looks like wave 3 is complete at the 17.300 level and the price is entering a wave 4 correction, likely down to test the 12.890 level as an important support level. So wait for the correction of wave 4 to complete to rejoin the trend in wave 5.

ChainLink / U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bullish Momentum.

 

1e5911cb10ceb443cae326d70231a400

 

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On 14/12/2023 at 10:56, tradinglounge said:

Elliott Wave Analysis TradingLounge Daily Chart, 14 December 23,

ChainLink / U.S. dollar(LINKUSD)

LINKUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave B

Direction Next higher Degrees: Wave IV of Impulse

Wave Cancel invalid Level: 8.259

Details: the three-wave Corrective of wave 4

ChainLink / U.S. dollar(LINKUSD)Trading Strategy: Chainlink remains in an uptrend. But it looks like wave 3 is complete at the 17.300 level and the price is entering a wave 4 correction, likely down to test the 12.890 level as an important support level. So wait for the correction of wave 4 to complete to rejoin the trend in wave 5.

ChainLink / U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

 

73b82aa3454ebab7857f5705bc4b9fe5

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 14 December 23,

ChainLink / U.S. dollar(LINKUSD)

LINKUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave B

Direction Next higher Degrees: Wave IV of Impulse

Wave Cancel invalid Level: 8.259

Details: the three-wave Corrective of wave 4

ChainLink / U.S. dollar(LINKUSD)Trading Strategy: Chainlink remains in an uptrend. But it looks like wave 3 is complete at the 17.300 level and the price is entering a wave 4 correction, likely down to test the 12.890 level as an important support level. So wait for the correction of wave 4 to complete to rejoin the trend in wave 5.

ChainLink / U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bullish Momentum.

 

1e5911cb10ceb443cae326d70231a400

 

Aah! I thought the retracement will be under $10.  Not gonna take entry unless it comes below 10 ☹️

IMG_20231222_100952.jpg

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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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