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Long Entry at $0.515
Recap
AERO caught a bid after Coinbase news hit, but world events quickly clipped the rally’s wings. Price bounced cleanly off the .48 level, which aligned with an Area of Interest (AOI), a Level of Interest (LOI), and a golden zone retracement displayed in the last analysis.
Explanation
The .48 level was key and the reaction was textbook. The Coinbase news provided a catalyst just as price reached the .55 level. However, macro uncertainty remains a headwind.
Now, all eyes are back on .55. Bulls need to defend this structural level. The current pierce of .75 is an encouraging move. Continuation and a proper flip of that level would keep confidence high. Wave 3s are a sight to see, so a retrace may not even occur if price simply sends. Still, while AERO stood up and moved counter to the broader market when world news dropped, that alone may not be enough if global bearish reactions continue.
Outlook
Entry projected in the previous analysis has played out in ideal fashion, but the market remains fluid. Key levels:
.75 recent break
.55 ideal hold
.48 impulse invalidation
Current trend at the lesser degree is up and holding higher lows. Next objective: take out the .80 pivot and change the trend at the higher degree.
Break of the higher lows at the lesser degree would be the first sign of weakness. I’m watching for a definitive correction for a potential long add. A swift move that breaks higher lows could signal danger to bulls.
Trade Safe!
Trade Clarity!
Long Entry at $0.515
Recap
AERO caught a bid after Coinbase news hit, but world events quickly clipped the rally’s wings. Price bounced cleanly off the .48 level, which aligned with an Area of Interest (AOI), a Level of Interest (LOI), and a golden zone retracement displayed in the last analysis.Explanation
The .48 level was key and the reaction was textbook. The Coinbase news provided a catalyst just as price reached the .55 level. However, macro uncertainty remains a headwind.
Now, all eyes are back on .55. Bulls need to defend this structural level. The current pierce of .75 is an encouraging move. Continuation and a proper flip of that level would keep confidence high. Wave 3s are a sight to see, so a retrace may not even occur if price simply sends. Still, while AERO stood up and moved counter to the broader market when world news dropped, that alone may not be enough if global bearish reactions continue.
Outlook
Entry projected in the previous analysis has played out in ideal fashion, but the market remains fluid. Key levels:
.75 recent break
.55 ideal hold
.48 impulse invalidation
Current trend at the lesser degree is up and holding higher lows. Next objective: take out the .80 pivot and change the trend at the higher degree.
Break of the higher lows at the lesser degree would be the first sign of weakness. I’m watching for a definitive correction for a potential long add. A swift move that breaks higher lows could signal danger to bulls.
Trade Safe!
Trade Clarity!
More on the TradeDevils Discord discord.gg/p9bjnpwnMc
Trade Devils University Sensei: tradedevils.com/my-account/?ref=ebquu4
Certified Elliott Wave Analyst Master: t.co/2GQ7uSjJVG?amp=1
Trade Devils University Sensei: tradedevils.com/my-account/?ref=ebquu4
Certified Elliott Wave Analyst Master: t.co/2GQ7uSjJVG?amp=1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
More on the TradeDevils Discord discord.gg/p9bjnpwnMc
Trade Devils University Sensei: tradedevils.com/my-account/?ref=ebquu4
Certified Elliott Wave Analyst Master: t.co/2GQ7uSjJVG?amp=1
Trade Devils University Sensei: tradedevils.com/my-account/?ref=ebquu4
Certified Elliott Wave Analyst Master: t.co/2GQ7uSjJVG?amp=1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.