Elliott Wave Technical Analysis: AAVE/US Dollar - Tuesday, Jan. 10

macbook pro on black table

Image Source: Unsplash
 

Elliott Wave Analysis TradingLounge Daily Chart, 10 January 23 

AAVE / U.S.dollar(AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: Wave 3 of Motive

Details: Wave(3) is always 1.618 x Wave(1) length. 

Wave Cancel invalid Level: 51.089

AAVE / US Dollar (AAVEUSD) Trading Strategy: AAVE Token is likely to recover well as the price managed to break through the MA50, but even so, the price is still below the MA200. The price may be at the beginning of the rally. Causing there is still a chance to be pressured by sales pressure Trading during this period must be done carefully.

AAVE / US Dollar (AAVEUSD)Technical Indicators: The price is below the MA200 indicating a downtrend. the Wave Oscillator above Zero-Line momentum is Bullish.

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 10 January 2023,  

AAVE / US Dollar (AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: Wave 3 of Motive

Details: Wave(3) is always 1.618 x Wave(1) length.

Wave Cancel invalid Level: 51.089


More By This Author:

Stock Market Investing Strategies Technical Analysis - Big Tech Stocks
Elliott Wave Technical Analysis: PepsiCo Inc. - Monday, Jan. 9
Elliott Wave Analysis: ASX200, Banks Resources 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
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Or Sign in with