SEI Elliott Wave technical analysis [Video]

SEIUSD Elliott Wave technical overview

• Function: Trend Continuation.

• Mode: Motive.

• Structure: Impulse Pattern.

• Current position: Wave V.

• Higher degree direction: Wave C within a Flat Pattern.

• Invalidation level for wave count: —

SEI recently experienced strong upward momentum. Now, based on Elliott Wave analysis, it appears to be undergoing a three-wave corrective pattern (A)-(B)-(C). Currently, Wave C is unfolding and progressing through the fifth wave (Wave 5), likely nearing completion. This last wave of the structure is trending downward.

• Target for Wave 5: Expected to align with the bottom of Wave 1, at the 0.1094 price level.

Trading strategies

• Primary strategy

  • Swing traders (Short-term approach)

    • Watch Zone: Monitor price activity closely around 0.109 – 0.12.

    • If a bullish divergence or a strong reversal candle appears, it might signal the end of Wave C and the beginning of a new upward move.

• Risk management

  • Critical resistance (Wave count invalidates): 0.2300

    • If price returns above this level, the current Elliott Wave structure becomes invalid.

SEIUSD Elliott Wave technical overview

• Function: Trend Continuation.

• Mode: Motive.

• Structure: Impulse Pattern.

• Current position: Wave V.

• Higher degree direction: Wave C within a Flat Pattern.

• Invalidation level for wave count: —

Following a significant rally in the past, SEI has now shifted into a corrective wave sequence labeled (A)-(B)-(C). The last part of this correction, Wave C, is currently unfolding and seems to be in the final stage—Wave 5. The wave continues to trend downward.

• Wave 5 Target: Expected near the 0.1094 level, in alignment with Wave 1’s base.

Trading strategies

• Primary strategy

  • Swing traders (Short-term view)

    • Watch Zone: Look for potential entry signals around 0.109 – 0.12.

    • A clear bullish divergence or reversal candle in this area might signal a trend change.

• Risk management

  • Invalidation resistance: 0.2300

    • A move back above this level will invalidate the current wave count.

Analyst: Kittiampon Somboonsod, CEWA.

SEIUSD Elliott Wave technical overview [Video]