AAVE Elliott Wave technical analysis [Video]

AAVE/USD Elliott Wave technical analysis

Function: Follow Trend.

Mode: Motive.

Structure: Impulse.

Position: Wave III.

Direction next higher degrees:

Wave cancel invalid level:

AAVE/USD – Trading strategy

AAVE continues to move downward, aligned with the Elliott Wave structure. The asset is currently in a wave IV retracement, likely preceding a potential wave V decline. This point could offer opportunity for traders looking for reversal entries or continued short positions. Wave III completed at 160.51; now retracing in wave IV, expected to reverse soon.
Fibonacci retracement targets:

• 23.6% at 196.35.

• 38.2% at 222.78.

Trading strategies

• Strategy

  • Short-term traders (swing trade)

    • If the price hits the upper Fibonacci zone and then starts declining, it signals a potential entry for wave V, which may fall below 150 or near 120.

• Risk management

  • If price surpasses 289.00, the current Elliott Wave count becomes invalid and should be reassessed.

AAVE/USD Elliott Wave technical analysis

Function: Follow Trend.

Mode: Motive.

Structure: Impulse.

Position: Wave II.

Direction next higher degrees: 

Wave cancel invalid level: 

AAVE/USD – Trading strategy

AAVE remains in a downward move based on the Elliott Wave count, now entering a wave IV retracement ahead of a possible wave V drop. This retracement could be significant for bottom seekers or those eyeing another short setup. Wave III finalized at 160.51, followed by a retracement phase likely to reverse.
Fibonacci retracement targets:

• 23.6% at 196.35

• 38.2% at 222.78

Trading strategies

• Strategy

  • Short-term traders (swing trade)

    • When price nears the Fibonacci ceiling and turns downward, it could lead to wave V testing sub-150 or near 120.

• Risk management

  • A breakout above 289.00 invalidates the current wave structure and requires re-evaluation.

AAVE Elliott Wave technical analysis [Video]