AAVE Elliott Wave technical analysis [Video]

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AAVE/USD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Flat.

Position: Wave ((A)).

Direction Next higher Degrees: Wave (IV) of Impulse.

Wave Cancel invalid Level: 125.280.

Details: The sub-waves within wave IV are identified as an A-B-C Correction pattern: Wave A: Begins a downward correction. Wave B: Expected to be a small upward correction before the price continues down in wave C.

AAVE/ U.S. dollar (AAVEUSD) Trading Strategy: The current wave structure is in a correction phase, Wave IV after the end of Wave III which was a strong uptrend. The sub-waves within Wave IV are identified as an A-B-C Correction pattern. Wave A: Begins a downward correction. Wave B: Expected to be a small correction up before the price continues down in Wave C. W.C Invalid: The 178.995064 level is a level below which the current wave count will be invalid.

Main outlook

• Short-term: Bearish until the correction in wave IV is complete.

• Long-term: After wave IV is complete, price is likely to re-enter the uptrend (wave V) in a larger timeframe.

AAVE/USD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Flat.

Position: Wave ((A)).

Direction next higher degrees: Wave (IV) of Impulse.

Wave cancel invalid level: 125.280.

Details: The sub-waves within wave IV are identified as an A-B-C Correction pattern: Wave A: Begins a downward correction. Wave B: Expected to be a small upward correction before the price continues down in wave C.

AAVE/ U.S. dollar (AAVE/USD) Trading Strategy: The current wave structure is in a correction phase, Wave IV after the end of Wave III which was a strong uptrend. The sub-waves within Wave IV are identified as an A-B-C Correction pattern. Wave A: Begins a downward correction. Wave B: Expected to be a small correction up before the price continues down in Wave C. W.C Invalid: The 178.995064 level is a level below which the current wave count will be invalid.

Main outlook

• Short-term: Bearish until the correction in wave IV is complete.

• Long-term: After wave IV is complete, price is likely to re-enter the uptrend (wave V) in a larger timeframe.

AAVE Elliott Wave technical analysis [Video]