By
Kittiampon Somboonsod
of
Trading Lounge
Monday, February 6, 2023 12:00 AM EST
AAVE /U.S.dollar Trading Strategy: AAVE token has recovered well from the 50.40 level and managed to cross the MA200 line, indicating that an uptrend is forming. The Elliott Wave structure is in a correction of wave (2) as a short-term decline before the price rises again.
AAVEUSD Elliott Wave Technical Analysis
- Function: Counter trend
- Mode: Motive
- Structure: Impulse
- Position: Wave ((2))
- Direction Next higher Degrees: Wave III of Motive
- Wave Cancel invalid Level: 50.173
AAVE/USD Technical Indicators: The price is above the MA200 indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish
Trading Strategy: AAVE token has recovered well from the 50.40 level and managed to cross the MA200 line, indicating that an uptrend is forming. The Elliottwave structure is in a correction of wave (2) as a short-term decline before the price rises. again
More By This Author:
Elliott Wave Forecast: SP500, Nasdaq, Russell 2000, DJIA Show Bullish Momentum
Elliott Wave Technical Analysis: The Trade Desk Inc. - Friday, Feb. 3
Elliott Wave Technical Analysis: Polkadot / U.S. Dollar
Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...
more
Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.
less
How did you like this article? Let us know so we can better customize your reading experience.