ADAUSD Elliott Wave Analysis - Daily Chart
Function: Trend Following
Mode: Motive
Structure: Impulse
Position: Wave 2
Direction (Higher Degrees): Wave 3 (developing)
The ADAUSD daily chart shows a completed Wave 1 and Wave 2 within a bullish impulsive structure. Wave 2 retraced to the Fibonacci 0.618 level (~0.543 USD). Wave 3 is now emerging, targeting the Fibonacci 1.618 extension (~0.685 USD) based on Wave 1's trajectory.
Trading Strategy (Swing Trade)
- ✅ Entry: Buy on retracements.
- ⚠️ Stop Loss: Below 0.511 USD.
- 🚨 Invalidation: A close below 0.511 USD negates the short-term bullish outlook.
ADAUSD Elliott Wave Analysis - H4 Chart
Function: Trend Following
Mode: Motive
Structure: Impulse
Position: Wave 2
Direction (Higher Degrees): Wave 3 (developing)
The H4 chart aligns with the daily analysis. Wave 2 retested 0.543 USD (0.618 Fib), and Wave 3 is anticipated to reach ~0.685 USD (1.618 Fib extension).
Trading Strategy
- ✅ Action: Seek buy opportunities in pullbacks.
- 🔴 Risk Management: Stop Loss below 0.511 USD.
Key Takeaways
- Bullish Momentum: Wave 3 suggests upward potential toward 0.685 USD.
- Critical Level: 0.511 USD acts as a pivot—breach may indicate trend reversal.
- Risk-Adjusted Approach: Use tight stops to capitalize on impulsive moves.
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FAQ Section
Q1: What confirms Wave 3’s development?
A: Sustained price action above Wave 1’s high (~0.685 USD) with increasing volume.
Q2: How deep could Wave 4 retrace?
A: Typically to 38.2%–50% Fib of Wave 3, pending Wave 3’s completion.
Q3: Is ADAUSD’s trend affected by Bitcoin?
A: Yes, altcoins often correlate with Bitcoin’s macro trends.
Q4: When to take profits in Wave 3?
A: Partial exits at 1.618 Fib (~0.685 USD) and trail stops for extended runs.
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Analyst: Kittiampon Somboonsod, CEWA
Source: TradingLounge.com
Keywords: Elliott Wave, Cardano, ADAUSD, crypto trading, Fibonacci retracement, swing trading, bullish impulse wave
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