Image Source: UpsplashElliott Wave Analysis TradingLounge Daily Chart, 22 November 23,AAVE / U.S. dollar(AAVEUSD)AAVEUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: ZigzagPosition: Wave (B)Direction Next higher Degrees: Wave ((2)) of ImpulseWave Cancel invalid Level: 50.391Details: the corrective in wave 2 trend to 61.8% of wave 1 at 71.177AAVE / U.S. dollar(AAVEUSD)Trading Strategy: AAVE has entered a period of correction. From a continuous increase from the 50.391 level, it ended at the 110.113 level with a five-wave pattern. Therefore, we forecast a correction in a three-wave abc pattern, with wave 2 likely to test wave 1’s 61.8% level at 71.177.AAVE / U.S. dollar(AAVEUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.TradingLounge Analyst: Kittiampon Somboonsod, CEWASource : Tradinglounge.com
Elliott Wave Analysis TradingLounge 4H Chart, 22 November 23,AAVE / U.S. dollar(AAVEUSD)AAVEUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: ZigzagPosition: Wave (B)Direction Next higher Degrees: Wave ((2)) of ImpulseWave Cancel invalid Level: 50.391Details: the corrective in wave 2 trend to 61.8% of wave 1 at 71.177AAVE / U.S. dollar(AAVEUSD)Trading Strategy: AAVE has entered a period of correction. From a continuous increase from the 50.391 level, it ended at the 110.113 level with a five-wave pattern. Therefore, we forecast a correction in a three-wave abc pattern, with wave 2 likely to test wave 1’s 61.8% level at 71.177.AAVE / U.S. dollar(AAVEUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bearish Momentum.
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