Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave C

Direction next higher degrees: 

Wave cancel invalid level:

ADA/USD Trading Strategy: The current structure of ADAUSD shows a correction in Corrective Wave II with a chance of falling to the important support level around 0.53 USD – 0.32 USD. Investors should follow the reversal signals from both the wave structure and indicators before deciding to enter a position.

Trading strategies

Buy strategy (Long Position):

• You should wait for the price to drop to the Wave C target near the 0.53 USD support or until the price structure is complete and the RSI starts showing reversal signals.

Risk management:

• If the price moves below the W.C. Invalid support (0.32 USD), you should exit the position immediately to reduce your risk.

ADA/USD one-day chart

ADA/USD Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Flat.

Position: Wave C.

ADA/USD trading strategy: The current structure of ADAUSD shows a correction in Corrective Wave II with a chance of falling to the important support level around 0.53 USD – 0.32 USD. Investors should follow the reversal signals from both the wave structure and indicators before deciding to enter a position.

Trading strategies

Buy strategy (Long position):

• You should wait for the price to drop to the Wave C target near the 0.53 USD support or until the price structure is complete and the RSI starts showing reversal signals.

Risk management:

• If the price moves below the W.C. Invalid support (0.32 USD), you should exit the position immediately to reduce your risk.