PEPE/USD  a daily look at meme coin moonshot
2024-11-14

  Looking at the 30m timeframe along with the higher timeframe context :

Elliott Wave Analysis:
1. Wave structure  Looking at the 30m timeframe along with the higher timeframe context:
- Wave 1: Initial impulse from 0.0{4}12489
- Wave 2: Shallow retracement
- Wave 3: Strong impulse to 0.0{4}25914 (typically strongest wave, which fits here)
- Wave 4: Current corrective phase (should not overlap wave 1)
- Wave 5: Potential upcoming (if rules satisfied)

Fibonacci Relationships:
- Wave 3 ≈ 1.618 * Wave 1 (common relationship)
- Wave 4 retrace staying above 38.2% of Wave 3 (typical)
- Key Fib level at 0.0{4}20252 (current MA50)

Indicator Analysis:
1. MACD:
- MACD line: -0.0{5}1404
- Signal line (DIF): -0.0{6}293
- Showing bearish divergence on recent highs

2. KDJ:
- K: 17.55
- D: 24.31
- J: 4.03
- Showing oversold conditions

3. OBV:
- OBV: 3,499,467
- MAOBV: 3,418,096
- Showing sustained buying pressure

Updated Key Levels:
Support:
1. 0.0{4}20252 (MA50)
2. 0.0{4}19943 (Previous structure)
3. 0.0{4}18000 (Psychological)

Resistance:
1. 0.0{4}25914 (Recent high)
2. 0.0{4}23038 (MA21)
3. 0.0{4}22446 (MA9)

Trade Setup Strategy:

Entry Conditions:
1. Primary Entry Zone: 0.0{4}20252-21000
2. Confirmations needed:
- Bullish divergence on MACD
- KDJ crossing upward from oversold
- Volume spike above MAOBV
- Candlestick pattern (bullish engulfing or morning star)

Risk Management:
- Stop Loss: Below 0.0{4}19943
- Take Profit Targets:
  1. TP1: 0.0{4}22446 (MA9)
  2. TP2: 0.0{4}23038 (MA21)
  3. TP3: 0.0{4}25914 (Previous high)

Entry Execution:
1. Scaling approach:
- 30% position at initial entry
- 40% on first confirmation
- 30% on trend confirmation

Additional Considerations:
1. Fair Value Gap (FVG) from higher timeframe provides additional resistance zones
2. Watch for volume confirmation at key levels
3. Monitor higher timeframe trend alignment
4. Be aware of potential wave 5 extension if wave 3 is confirmed complete