AAVEUSD Elliott Wave Analysis TradingLounge Day Chart
AAVEUSD Day Chart Analysis
AAVE/USD (AAVEUSD) Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave (4)
Direction (Next Higher Degree): Wave I of Impulse
Wave Cancelation Invalid Level: 81.238
Details: The corrective phase of Wave (4) is currently unfolding before the anticipated increase in Wave (5).
AAVE/USD (AAVEUSD) Trading Strategy:
The current fourth wave correction suggests that the price is consolidating in a sideways Triangle pattern. This phase indicates a short-term correction before another upward move as Wave (5) develops.
AAVE/USD (AAVEUSD) Technical Indicators:
- Price is trading above the MA200, confirming an uptrend.
- The Wave Oscillator is showing bearish momentum, signaling a potential continuation of the corrective phase.
AAVEUSD Elliott Wave Analysis TradingLounge 4-Hour Chart
AAVEUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave (4)
Direction (Next Higher Degree): Wave I of Impulse
Wave Cancelation Invalid Level: 81.238
Details: The corrective phase of Wave (4) continues before the next bullish impulse in Wave (5).
AAVE/USD (AAVEUSD) Trading Strategy:
The fourth wave correction, extending sideways in a Triangle pattern, indicates a brief consolidation period. After this, the market is expected to resume its upward movement with the development of Wave (5).
AAVE/USD (AAVEUSD) Technical Indicators:
- The price is holding above the MA200, confirming an ongoing uptrend.
- Bearish momentum is present in the Wave Oscillator, pointing to a continuation of the corrective phase.
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here See
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