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08May

XMRUSD Elliott Wave Technical Analysis May 08 2023

Crypto_Splash-XMR

XMRUSD Elliott Wave Technical Analysis May 08 2023

4Hour

Monero /U.S.dollar(XMRUSD)
XMRUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Double Combined
Position: Wave Y
Direction Next higher Degrees: Wave (2) of Motive
Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))
Wave Cancel invalid Level: 131.896


Monero /U.S.dollar(XMRUSD)Trading Strategy: There is still a risk of a correction of wave (2), which corresponds to prices below the MA200 line indicating a downtrend. before rising again Wait for the correction to complete.


Monero /U.S.dollar(XMRUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are  Bearish momentum


Daily

Monero /U.S.dollar(XMRUSD)
XMRUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Double Combined
Position: Wave Y
Direction Next higher Degrees: Wave (2) of Motive
Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))
Wave Cancel invalid Level: 131.896


Monero /U.S.dollar(XMRUSD)Trading Strategy: There is still a risk of a correction of wave (2), which corresponds to prices below the MA200 line indicating a downtrend. before rising again Wait for the correction to complete.


Monero /U.S.dollar(XMRUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are  Bearish momentum

 

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