Image Source: PixabayElliott Wave Analysis TradingLounge Daily Chart,Binance/ U.S. dollar(BNBUSD)BNBUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave ((v))Direction Next higher Degrees: wave 3Wave Cancel invalid level: 287.5Details: Wave ((V)) is equal to wave ((1) at 734.4Binance/ U.S. dollar(BNBUSD)Trading Strategy:It looks like Wave IV has finished correcting and the price is rising again in Wave V. Wave V usually has the same length as Wave I. Therefore, we predict the trend of Wave V has a chance to test the 0734.4 level before correcting again.Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.TradingLounge Analyst: Kittiampon Somboonsod, CEWASource: Tradinglounge.com
Elliott Wave Analysis TradingLounge 4H Chart,Binance/ U.S. dollar(BNBUSD)BNBUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave ((v))Direction Next higher Degrees: wave 3Wave Cancel invalid level: 287.5Details: Wave ((V)) is equal to wave ((1) at 734.4Binance/ U.S. dollar(BNBUSD)Trading Strategy:It looks like Wave IV has finished correcting and the price is rising again in Wave V. Wave V usually has the same length as Wave I. Therefore, we predict the trend of Wave V has a chance to test the 0734.4 level before correcting again.Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.
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