Binance Elliott Wave technical analysis [Video]
![Binance Elliott Wave technical analysis [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Coins/BinanceCoin/binance_coin_logo_XtraLarge.jpg){kind=logo}
BNB/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Triangle.
Position: Wave ((D)).
Direction next higher degrees: Wave 4.
Wave Cancel invalid level: 508.
Details: Correction in Triangle pattern before rising again in Wave 5.
Binance/ U.S. dollar(BNBUSD)Trading Strategy: The short-term correction in Wave 4 with the Triangle pattern continues. Because there is still another decrease in wave E before an increase in wave 5, so wait for the correction to complete to look for opportunities to join the trend again.
Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.
BNB/USD four-hour chart
Function: Counter Trend.
Mode: Corrective.
Structure: Triangle.
Position: Wave ((D)).
Direction next higher degrees: Wave 4
Wave cancel invalid level: 508
Details: Correction in Triangle pattern before rising again in Wave 5.
Binance/ U.S. dollar(BNBUSD)Trading Strategy: The short-term correction in Wave 4 with the Triangle pattern continues. Because there is still another decrease in wave E before an increase in wave 5, so wait for the correction to complete to look for opportunities to join the trend again.
Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum.
Binance Elliott Wave technical analysis [Video]
Author
Peter Mathers
TradingLounge
Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.
