18Jun

AAVE/USD Elliott Wave Wave II Correction Strategy Revealed: Key Entry at $195–$172 for Bullish Wave III After $331.12 Peak

Elliott Wave Analysis – AAVE/USD – Daily Charts by TradingLounge

AAVE/USD Elliott Wave Technical Analysis (Daily Chart)

Function: Counter Trend

Mode: Corrective

Structure: Not Applicable

Position: Wave 2

Invalidation Level: $116

Analysis Summary:

AAVE/USD concluded its Wave V downtrend within the $50–$60 support zone during April, initiating a bullish reversal. This led to a completed five-wave impulse structure topping at $331.12, marking Wave I. The ongoing price decline signals the likely formation of Wave II, a corrective phase typically preceding a stronger bullish Wave III. This aligns with standard Elliott Wave principles and suggests a medium-term AAVE price correction within an overall upward trend.

AAVE/USD Trading Strategy (Daily Chart)

  • Short-Term Swing Trade Strategy:

✅ Monitor the $195–$172 price zone for bullish reversal patterns. This area offers a favorable entry point for traders positioning for the anticipated Wave III uptrend.

  • Risk Management:

🟥 As long as AAVE/USD maintains support above $116, the bullish Elliott Wave scenario remains valid.

AAVEUSD-d-crypto-cha...


Elliott Wave Analysis – AAVE/USD – 4H Charts by TradingLounge

AAVE/USD Elliott Wave Technical Analysis (H4 Chart)

Function: Counter Trend

Mode: Corrective

Structure: Not Applicable

Position: Wave 2

Invalidation Level: $116

Analysis Summary:

On the H4 timeframe, AAVE/USD ended its final Wave V leg near $50–$60 before advancing in a clear impulsive sequence that peaked at $331.12, completing Wave I. The current corrective retracement indicates the development of Wave II. This aligns with a typical pullback setup seen prior to a continuation move in Wave III, reinforcing bullish AAVE forecasts in the short term.

AAVE/USD Trading Strategy (H4 Chart)

  • Swing Trade Entry Plan:

✅ Focus on reversal signals between $195 and $172. Confirmation in this range could support a strategic long position targeting Wave III.

  • Risk Management:

🟥 The current wave interpretation remains intact provided price does not fall below $116.

Technical Analyst: Malik Awais

Source: Visit Tradinglounge.com and learn from the Experts. Join TradingLounge Here

Previous: ETHUSD Elliott Wave Technical Analysis

VALUE Offer - $1 for 2 Weeks then $29 a month!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

AAVEUSD-4h-crypto-ch...

Related

Unlocking Profit Potential with Elliott Wave Analysis for Binance Coin (BNBUSD) Trading - 13th February 2024

Unlocking Profit Potential with Elliott Wave Analysis for Binance Coin (BNBUSD) Trading - 13th February 2024

The February 13, 2024, Binance Coin (BNBUSD) Elliott Wave Analysis, explores cryptocurrency market t...

Read More >
Actionable Trading Strategies and Key Price Points: BHP GROUP LIMITED - BHP Stock Analysis & Elliott Wave Technical Forecast

Actionable Trading Strategies and Key Price Points: BHP GROUP LIMITED - BHP Stock Analysis & Elliott Wave Technical Forecast

This article provides an in-depth Elliott Wave Analysis of ASX: BHP GROUP LIMITED. We explore curren...

Read More >
Elliott Wave Analysis for NASDAQ 100 & Key Stocks: Expert Insights & Trading Strategies

Elliott Wave Analysis for NASDAQ 100 & Key Stocks: Expert Insights & Trading Strategies

Dive into our latest Elliott Wave Analysis for the NASDAQ 100, including detailed insights and tradi...

Read More >
EURGBP Elliott Wave Analysis Reveals Bearish Wave 3 Setup with Short-Term Trade Opportunities in Corrective Market Pattern

EURGBP Elliott Wave Analysis Reveals Bearish Wave 3 Setup with Short-Term Trade Opportunities in Corrective Market Pattern

EURGBP shows a bearish Elliott Wave setup within a corrective structure. Wave 3 is unfolding, offeri...

Read More >
VeChain Crypto Price News: Today VETUSD Elliott Wave Technical Analysis and Market Trends to Refine Your Trading Approach

VeChain Crypto Price News: Today VETUSD Elliott Wave Technical Analysis and Market Trends to Refine Your Trading Approach

This article provides a detailed Elliott Wave analysis for VeChain (VETUSD), offering insights into ...

Read More >
 Insightful Trading Strategies Unveiled: U.S.Dollar/Japanese Yen (USDJPY) Elliott Wave Technical Analysis

Insightful Trading Strategies Unveiled: U.S.Dollar/Japanese Yen (USDJPY) Elliott Wave Technical Analysis

The intricacies of USDJPY Elliott Wave Analysis through our comprehensive insights tailored for trad...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on