Elliott Wave Analysis TradingLounge Daily Chart,

Cadarno/ U.S. dollar(ADAUSD)

ADAUSD Elliott Wave Technical Analysis 

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave C

Direction Next higher Degrees: wave (II) of Impulse

Wave Cancel invalid level: 

Details: Wave II Is equal to 61.8% of Wave I at 0.358

Cadarno/ U.S. dollar(ADAUSD)Trading Strategy:

The second wave correction in the Expanded Flat pattern, where we are in the middle of a decline in Wave C, will have five extended internal sub-waves. But we still have one more decline left for Wave C to complete. So wait for the correction to complete to rejoin the trend.

Cardano/ U.S. dollar(ADAUSD)Technical Indicators: The price is below the MA200 indicating a Dow trend, The Wave Oscillator is a Bearish Momentum.

(Click on image to enlarge)

Elliott Wave Analysis TradingLounge H4 Chart,

Cadarno/ U.S. dollar(ADAUSD)

ADAUSD Elliott Wave Technical Analysis 

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 4

Direction Next higher Degrees: wave C of Flat

Wave Cancel invalid level: 

Details: A short-term pullback in wave 4 before falling again in wave 5.

Cardano/ U.S. dollar(ADAUSD)Trading Strategy:

The second wave correction in the Expanded Flat pattern, where we are in the middle of a decline in Wave C, will have five extended internal sub-waves. But we still have one more decline left for Wave C to complete. So wait for the correction to complete to rejoin the trend.

Cardano/ U.S. dollar(ADAUSD)Technical Indicators: The price is below the MA200 indicating a Dow trend, The Wave Oscillator is a Bearish Momentum.

(Click on image to enlarge)

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