Image Source: PexelsElliott Wave Analysis TradingLounge Daily ChartBinance/ U.S. dollar(BNBUSD)BNBUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double Correctiveposition: Wave ((Y))Direction Next higher Degrees: wave 2Wave Cancel invalid level:Details: The decline of wave Y is likely to end and the price is re-entering the uptrend.Binance/ U.S. dollar(BNBUSD)Trading Strategy:
The correction in wave ((2)) seems to be over so we focus on the five-wave rally of wave 3 and the price is likely to test the 913 level. The price action remains in an uptrend, and we are looking for a re-entry into the trend.Binance/ U.S. dollar(BNBUSD)Technical Indicators:
The price is above the MA200 indicating an uptrend. The Wave Oscillator is a Bullish Momentum.
Elliott Wave Analysis TradingLounge 4hr ChartBinance/ U.S. dollar(BNBUSD)BNBUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave (3)Direction Next higher Degrees: wave ((3)) of ImpulseWave Cancel invalid level:Details: Wave 3 is likely to be 161.8% of wave 1.Binance/ U.S. dollar(BNBUSD)Trading Strategy:
The correction in wave ((2)) seems to be over so we focus on the five-wave rally of wave 3 and the price is likely to test the 913 level. The price action remains in an uptrend, and we are looking for a re-entry into the trend.Binance/ U.S. dollar(BNBUSD)Technical Indicators:
The price is above the MA200 indicating an uptrend. The Wave Oscillator is a Bullish Momentum.Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.com
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