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Elliott Wave Analysis TradingLounge Daily Chart

AAVE/ U.S. dollar(AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave V)

Direction Next higher Degrees:

Wave Cancel invalid Level: 257.386

AAVE/ U.S. dollar(AAVEUSD)Trading Strategy:
Wave IV is a corrective wave and looks like it will finish around the support level at 257.386. Wave V is developing with the formation of sub-waves (1) and (2). The Fibonacci Extension target of wave V is at 1.618 level at 493.609.

Trading strategies

* Consider opening a Long position in the 303.653 - 317.999 zone if there is a reversal signal.

* If the price fails to break through the 399.746 level or falls below the support level of 257.386, consider that the structure may change.

Elliott Wave Analysis TradingLounge 4hr Chart

AAVE/ U.S. dollar(AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave V)

Direction Next higher Degrees:

Wave Cancel invalid Level: 257.386

AAVE/ U.S. dollar(AAVEUSD)Trading Strategy:
Wave IV is a corrective wave and looks like it will finish around the support level at 257.386. Wave V is developing with the formation of sub-waves (1) and (2). The Fibonacci Extension target of wave V is at 1.618 level at 493.609.

Trading strategies

* Consider opening a Long position in the 303.653 - 317.999 zone if there is a reversal signal.

* If the price fails to break through the 399.746 level or falls below the support level of 257.386, consider that the structure may change.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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