Elliott Wave Analysis TradingLounge Vechain/ U.S. dollar(VETUSD) VET/USD Elliott Wave technical analysis Function: Counter trend. Mode: Corrective. Structure: Double Corrective. Position: Wave ((Y)). Direction next higher degrees: Wave II of Impulse. Wave cancel invalid level: Details: Wave II may not be complete, price is likely to be below 0.01781. Vechain/ U.S. dollar(VETUSD)Trading Strategy: The wave II correction is entering the late decline phase, so the overall picture is a short-term correction to continue up in wave III. Look for an opportunity to join the uptrend when the correction is complete. Vechain/ U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish