AAVE Token/U.S. dollar(AAVEUSD) Elliott Wave Technical Analysis 8 August 23

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Elliott Wave Analysis TradingLounge Daily Chart, 8 August 23,  
AAVE Token/U.S. dollar(AAVEUSD)
AAVEUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave ((2))
Direction Next higher Degrees: Wave I of Motive
Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))
Wave Cancel invalid Level: 49.003

AAVE Token/U.S. dollar(AAVEUSD)Trading Strategy: AAVE has recovered from the level of 49.003 with a Leading Diagonal pattern, which is a good signal to start an uptrend. Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)) is a good opportunity to look for long-term trading opportunities.

AAVE Token/U.S. dollar(AAVEUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, Wave Oscillator are  Bearish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA
Source : Tradinglounge.com get trial here!






Elliott Wave Analysis TradingLounge 4H Chart, 8 August 23,  
AAVE Token/U.S. dollar(AAVEUSD)
AAVEUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave (B)
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: 49.003

AAVE Token/U.S. dollar(AAVEUSD)Trading Strategy: AAVE has recovered from the level of 49.003 with a Leading Diagonal pattern, which is a good signal to start an uptrend. Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)) is a good opportunity to look for long-term trading opportunities.

AAVE Token/U.S. dollar(AAVEUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, Wave Oscillator are  Bearish momentum.