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 Elliott Wave Analysis TradingLounge Daily Chart, 14 December 2023.ChainLink/U.S. Dollar(LINKUSD)LINKUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: ZigzagPosition: Wave BDirection Next higher Degrees: Wave IV of ImpulseWave Cancel invalid Level: 8.259Details: the three-wave Corrective of wave 4ChainLink/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.Analyst: Kittiampon Somboonsod, CEWAElliott Wave Analysis TradingLounge 4H Chart, 14 December 2023.ChainLink/U.S. Dollar(LINKUSD)LINKUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: ZigzagPosition: Wave BDirection Next higher Degrees: Wave IV of ImpulseWave Cancel invalid Level: 8.259Details: the three-wave Corrective of wave 4ChainLink/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.More By This Author:Global Stock Markets – Elliott Wave Insights & Strategies
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