XMRUSD Elliott Wave Technical Analysis March 10 2023
4Hour
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
Daily
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
