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Elliott Wave Analysis – TradingLounge Daily Chart, Binance / U.S. Dollar (BNBUSD)

BNBUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 2
Direction Next Higher Degrees: Wave IV of Impulse
Wave Cancel Invalid Level: $597

BNBUSD Trading Strategy – Daily Chart

Binance Coin (BNBUSD) is presenting a potential bullish reversal following a correction phase, likely marking the completion of wave ② near the Fibonacci retracement zone of 50% - 61.8%. This price area now hints at the start of a medium- to long-term advance into wave ③.

Trading Strategies

• Strategy:
• • ✅ For Short-Term Traders (Swing Trade)
  • • Watch for a price reversal near $633 to initiate a Long Position.
• Risk Management:
• • 🟥 If the price dips below $597, the wave count becomes invalid and should be reviewed immediately.

Elliott Wave Analysis – TradingLounge H4 Chart, Binance / U.S. Dollar (BNBUSD)

BNBUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 2
Direction Next Higher Degrees: Wave IV of Impulse
Wave Cancel Invalid Level: $597

BNBUSD Trading Strategy – H4 Chart

The BNBUSD market structure suggests a probable end to wave ② within the Fibonacci 50% - 61.8% retracement area. The price action signals the beginning of wave ③, indicating a possible trend reversal in the medium term.

Trading Strategies

• Strategy:
• • ✅ For Short-Term Traders (Swing Trade)
  • • A reversal near $633 offers a good opportunity to open a Long Position.
• Risk Management:
• • 🟥 If the price breaks below $597, reassess the Elliott Wave count immediately.
• TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Published by TradingLounge Analyst: Kittiampon Somboonsod, CEWA

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