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Binance Elliott Wave technical analysis [Video]

Binance Elliott Wave technical analysis [Video]
Peter MathersPeter MathersTradingLounge

Elliott Wave Analysis TradingLounge Daily Chart,

BNB/USD Elliott Wave technical analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Direction next higher degrees: Wave 2

Details: The decline of wave Y is likely to end and the price is re-entering the uptrend.

Binance / U.S. dollar (BNBUSD) Trading Strategy: It looks like the wave 2 correction is complete and the price is still likely to move up. Look for an opportunity to join the wave 2 uptrend.

Binance / U.S. dollar (BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bearish Momentum.

BNB/USD daily chart

bnb

BNB/USD Elliott Wave technical analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave C

Direction next higher degrees: wave (2)

Details: Wave (2) is likely to end and the price is re-entering the uptrend.

Binance / U.S. dollar (BNBUSD)Trading Strategy: It looks like the wave 2 correction is complete and the price is still likely to move up. Look for an opportunity to join the wave 3 uptrend.

Binance / U.S. dollar (BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bearish Momentum.

BNB/USD four-hour chart

BNBUSD

Binance Elliott Wave technical analysis [Video]

Author

Peter Mathers

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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