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Elliott Wave Analysis TradingLounge Daily Chart, 24 August 2023. 

AAVE/U.S. Dollar(AAVEUSD) AAVEUSD

Elliott Wave Technical Analysis

Function: Follow

Trend Mode: Motive

Structure: Impulse

Position: Wave ((2))

Direction Next higher

Degrees: Wave I of Motive Wave Cancel invalid Level: 49.003

AAVE/U.S. Dollar(AAVEUSD) Trading Strategy: We have had an increase since mid-June. Five waves in a diagonal pattern make the view downward from the 88.05 level a correction to the upside. But even so, If the price has not broken the 49.003 level, we will continue to look for a five-wave rise. to confirm the end of the wave ((2)).

AAVE/U.S. Dollar(AAVEUSD) Technical Indicators: The price is below the MA200 indicating a downtrend, MACD, and RSI bearish momentum.

Analyst: Kittiampon Somboonsod, CEWA 

Elliott Wave Analysis TradingLounge 4H Chart, 24 August 2023.

AAVE/U.S. dollar(AAVEUSD) AAVEUSD

Elliott Wave Technical Analysis

Function: Counter

Trend Mode: Corrective

Structure: Double Corrective

Position: Wave (Y)

Direction Next higher

Degrees: Wave ((2)) of Motive Wave Cancel invalid Level: 49.003

AAVE/U.S. Dollar(AAVEUSD) Trading Strategy: We have had an increase since mid-June. Five waves in a diagonal pattern make the view downward from the 88.05 level a correction to the upside. But even so, If the price has not broken the 49.003 level, we will continue to look for a five-wave rise. to confirm the end of the wave ((2)).

AAVE/U.S. Dollar(AAVEUSD) Technical Indicators: The price is below the MA200 indicating a downtrend, MACD, and RSI bearish momentum.

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