Binance Elliott Wave technical analysis [Video]
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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 (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 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.
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.
