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AAVE / U.S. dollar(AAVEUSD) Elliott Wave Technical Analysis 18 January 24


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Elliott Wave Analysis TradingLounge Daily Chart, 18 January 24,

AAVE / U.S. dollar(AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave ((C))

Direction Next higher Degrees: Wave II of Impulse

Wave Cancel invalid Level: 47.34

Details: Wave II is equal to 61.8% of Wave I at 79.29

AAVE / U.S. dollar(AAVEUSD)Trading Strategy: AAVE's rise appears to have ended at the 1239.956 level, which was a five-wave Impulse rally in Wave 1. Therefore, the next price structure is a Wave 2 correction pattern with a retracement level of 61.8. % Wave 1, so wait for Wave 2 to complete for an opportunity to rejoin the uptrend.

AAVE / U.S. dollar(AAVEUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

 

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Elliott Wave Analysis TradingLounge 4H Chart, 18 January 24,

AAVE / U.S. dollar(AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave ((C))

Direction Next higher Degrees: Wave II of Impulse

Wave Cancel invalid Level: 47.34

Details: Wave II is equal to 61.8% of Wave I at 79.29

AAVE / U.S. dollar(AAVEUSD)Trading Strategy: AAVE's rise appears to have ended at the 1239.956 level, which was a five-wave Impulse rally in Wave 1. Therefore, the next price structure is a Wave 2 correction pattern with a retracement level of 61.8. % Wave 1, so wait for Wave 2 to complete for an opportunity to rejoin the uptrend.

AAVE / U.S. dollar(AAVEUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bullish Momentum.

 

f875c1bb7b65afc6068919403387a9d7

 

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