AAVEUSD Elliott Wave Analysis - TradingLounge Daily Chart

AAVE/USD Daily Chart Analysis

AAVEUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave V

Next Higher Degree Direction: Bullish

Wave Cancellation Level (Invalidation Point): $192.993

AAVE/USD (AAVEUSD) Trading Strategy

Analysis:

The ongoing corrective phase (Wave IV) is currently respecting the parallel trend channel. A confirmed breakout above the $349 bullish level signals the beginning of Wave V, indicating a potential upward move.

AAVEUSD Trading Strategies:

📈 Buy Strategy (Long Position):

• Look for a price pullback before entering a long position to align with the trend continuation.

📉 Risk Management:

• Wave Cancellation Level: $192.993 (If price drops below this level, the Elliott Wave structure becomes invalid).

AAVE/USD Elliott Wave Analysis - 4-Hour Chart

AAVE/USD 4H Chart Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Next Higher Degree Direction: To Be Confirmed

Wave Cancellation Level (Invalidation Point): Not Specified

AAVE/USD (AAVEUSD) Trading Strategy

AAVEUSD Analysis:

The corrective phase (Wave IV) remains within the parallel trend channel. If the price breaks above $349, it confirms the start of Wave V, indicating further bullish momentum.

AAVEUSD Trading Strategies:

📈 Buy Strategy (Long Position):

• Wait for a pullback before entering a long trade to capitalize on trend continuation.

📉 Risk Management:

• Wave Cancellation Level: $192.993 (Support level where, if broken, the Elliott Wave structure becomes invalid).

Technical Analyst: Kittiampon Somboonsod

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