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
