### BNBUSD LONG
I'm looking at BNBUSD on the 15-minute chart, and I'm seeing a potential for a long trade setup. The Elliott Wave analysis shows a completed wave (4), and now I'm anticipating the start of wave (5), which typically moves in the direction of the primary trend.
The recent price action has retraced to form wave (4), and it appears to be finding support around the current levels. Based on the Fibonacci extension tool, my target for wave (5) is at the 1.618 extension level, which is approximately at 545.9. This level is often a strong area of resistance where the price might face some selling pressure.
Entering a long trade at the current price levels, I am aiming for this target, keeping an eye on the momentum and any potential reversal signals. The upward move is expected to continue as long as the support around the wave (4) low holds.
I'm looking at BNBUSD on the 15-minute chart, and I'm seeing a potential for a long trade setup. The Elliott Wave analysis shows a completed wave (4), and now I'm anticipating the start of wave (5), which typically moves in the direction of the primary trend.
The recent price action has retraced to form wave (4), and it appears to be finding support around the current levels. Based on the Fibonacci extension tool, my target for wave (5) is at the 1.618 extension level, which is approximately at 545.9. This level is often a strong area of resistance where the price might face some selling pressure.
Entering a long trade at the current price levels, I am aiming for this target, keeping an eye on the momentum and any potential reversal signals. The upward move is expected to continue as long as the support around the wave (4) low holds.
Trade closed: target reached
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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.