Elliott Wave Technical Analysis: Dogecoin, Tuesday, Nov. 8

Elliott Wave Analysis TradingLounge Daily Chart, November 8, 2022

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Dogecoin (DOGE-X)

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Triangle

Position: Wave 4

Direction Next higher Degrees: wave (5) of Motive

Details: The reversal of wave 4 is usually .382 x wave 3.

Wave Cancel invalid Level:

Dogecoin (DOGEUSD) Trading Strategy: The price tends to move sideways in the retracement of wave 4. In most cases, wave 4 reverses .382 x wave 3 lengths, so waiting for wave 4 to end may be necessary to rejoin the uptrend.

Dogecoin (DOGEUSD) Technical Indicators: MACD and MACD Histogram above

Zero-Line the price has bullish momentum.

Tradinglounge Analyst : Kittiampon Somboonsod

Dogecoin (DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Triangle

Position: Wave 4

Direction Next higher Degrees: wave (5) of Motive

Details: The reversal of wave 4 is usually .382 x wave 3.

Wave Cancel invalid Level:

Dogecoin (DOGEUSD) Trading Strategy: The price tends to move sideways in the retracement of wave 4. In most cases, wave 4 reverses .382 x wave 3 lengths, so waiting for wave 4 to end may be necessary to rejoin the uptrend.

Dogecoin (DOGEUSD)Technical Indicators: MACD has a Hidden bullish divergence

MACD Histogram has a bullish divergence, Price tends to reverse.


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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...

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