Image Source: PixabayElliott Wave Analysis TradingLounge Daily ChartAAVE/ U.S. dollar(AAVEUSD)AAVEUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave V)Direction Next higher Degrees:Wave Cancel invalid Level: 257.386
AAVE/ U.S. dollar(AAVEUSD)Trading Strategy:
Wave IV is a corrective wave and looks like it will finish around the support level at 257.386. Wave V is developing with the formation of sub-waves (1) and (2). The Fibonacci Extension target of wave V is at 1.618 level at 493.609.Trading strategies* Consider opening a Long position in the 303.653 – 317.999 zone if there is a reversal signal.* If the price fails to break through the 399.746 level or falls below the support level of 257.386, consider that the structure may change.
Elliott Wave Analysis TradingLounge 4hr ChartAAVE/ U.S. dollar(AAVEUSD)AAVEUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave V)Direction Next higher Degrees:Wave Cancel invalid Level: 257.386
AAVE/ U.S. dollar(AAVEUSD)Trading Strategy:
Wave IV is a corrective wave and looks like it will finish around the support level at 257.386. Wave V is developing with the formation of sub-waves (1) and (2). The Fibonacci Extension target of wave V is at 1.618 level at 493.609.Trading strategies* Consider opening a Long position in the 303.653 – 317.999 zone if there is a reversal signal.* If the price fails to break through the 399.746 level or falls below the support level of 257.386, consider that the structure may change.
Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.comMore By This Author:Unlocking ASX Trading Success: Coles Group Limited – Thursday, Jan. 23
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