Elliott Wave Analysis TradingLounge Daily Chart,
Cardano/ U.S. dollar(ADAUSD)
ADAUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
position: Wave Y
Direction Next higher Degrees: wave (II)
Wave Cancel invalid level:
Details: The decline of wave Y is likely to end and the price is re-entering the uptrend.
Cardano/ U.S. dollar(ADAUSD)Trading Strategy:
Cadarno's outlook looks like the Wave 1 rally is likely to end. The price is entering a correction in Wave 2, likely to test the 61.8%(0.365) level of Wave 1 before rising again in Wave 3, so wait for the correction to complete for an opportunity to join the trend again.
Cardano/ U.S. dollar(ADAUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
Elliott Wave Analysis TradingLounge H4 Chart,
Cardano/ U.S. dollar(ADAUSD)
ADAUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
position: Wave B
Direction Next higher Degrees: Wave (2) of Impulse
Wave Cancel invalid level:
Details: Wave (2) is likely to retrace the 61.8% level of wave (1)
Cardano/ U.S. dollar(ADAUSD)Trading Strategy:
Cadarno's outlook looks like the Wave 1 rally is likely to end. The price is entering a correction in Wave 2, likely to test the 61.8%(0.365) level of Wave 1 before rising again in Wave 3, so wait for the correction to complete for an opportunity to join the trend again.
Cardano/ U.S. dollar(ADAUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
Technical Analyst : Kittiampon Somboonsod, CEWA
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