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Elliott Wave Analysis - TradingLounge Daily Chart

ADA / U.S. Dollar (ADAUSD)

ADAUSD Elliott Wave Technical Review

• Function: Counter Trend

• Mode: Corrective

• Structure: Flat

• Position: Wave ((C))

• Next Higher Degree Direction: Wave II

• Invalidation Level: Not defined

ADA / U.S. Dollar (ADAUSD) – Trading Plan
 

Cardano (ADA) is currently positioned in wave C of wave II, which marks the final stage of a broader corrective move. Wave I concluded at the 1.331 USD level. Wave II follows a typical ABC correction pattern and is approaching the completion of wave C. The expected target for wave (5) within wave C is around 0.553 USD.

Trading Strategy
 

• Approach

  • Tactic

    • ✅ Short-Term Traders (Swing Trading)

      • Monitor for a new wave formation. The 0.53–0.56 USD price range could present a favorable entry point if a strong reversal pattern appears, such as:

        • Bullish divergence

        • Pin bar

        • Breakout

• Risk Management

  • The wave count becomes invalid if price drops below 0.292 USD. In such case, the entire wave structure needs re-evaluation.

Elliott Wave Analysis - TradingLounge H4 Chart

ADA / U.S. Dollar (ADAUSD)

ADAUSD Elliott Wave Technical Review

• Function: Counter Trend

• Mode: Corrective

• Structure: Flat

• Position: Wave ((C))

• Next Higher Degree Direction: Wave II

• Invalidation Level: Not defined

ADA / U.S. Dollar (ADAUSD) – Trading Plan

On the H4 timeframe, Cardano (ADA) is likewise completing wave C of wave II – the last part of a major corrective cycle. Wave I peaked at 1.331 USD. The ABC correction within wave II is ending, with the final wave C targeting approximately 0.553 USD.

Trading Strategy
 

• Approach

  • Tactic

    • ✅ Short-Term Traders (Swing Trading)

      • Watch for a new impulsive wave. The 0.53–0.56 USD zone could be advantageous if clear reversal signs appear such as:

        • Bullish divergence

        • Pin bar

        • Breakout

• Risk Management

  • The structure becomes invalid below the 0.292 USD level. If this happens, a full structural review is required.

Analyst: Kittiampon Somboonsod, CEWA

Source: TradingLounge.com

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