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By tradinglounge · Posted
USDJPY Elliott Wave Analysis Trading Lounge Day Chart, U.S. Dollar / Japanese Yen (USDJPY) Day Chart USDJPY Elliott Wave Technical Analysis FUNCTION: Bearish Trend MODE: Impulsive STRUCTURE: Orange wave 3 (in progress) POSITION: Navy blue wave 3 DIRECTION NEXT HIGHER DEGREE: Orange wave 4 DETAILS: The orange wave 2 appears to have completed, and now the orange wave 3 is unfolding. The wave invalidation level is 147.262. The USDJPY Elliott Wave analysis on the day chart identifies a bearish trend. The technical analysis mode is impulsive, indicating strong downward momentum. The structure being analyzed is orange wave 3, which has started, signaling a strengthening downtrend. Currently, the market is within navy blue wave 3, having progressed through earlier waves. Wave 3 is typically the most powerful and directional phase in an Elliott Wave pattern. The next higher-degree wave will likely be orange wave 4, which is expected to follow after wave 3 concludes. This points to a possible correction or consolidation once wave 3 finishes. The previous orange wave 2 is completed, and now the focus is on orange wave 3. The wave invalidation level is set at 147.262; if the price reaches this level, the wave count would be considered invalid, requiring a re-evaluation of the market structure. In summary, USDJPY is currently in a strong downward phase within an impulsive wave pattern, advancing through the third wave of the navy blue degree. The next important phase could be a corrective orange wave 4, but for now, attention remains on the unfolding orange wave 3, as long as the price does not exceed 147.262. U.S. Dollar / Japanese Yen (USDJPY) 4-Hour Chart USDJPY Elliott Wave Technical Analysis FUNCTION: Bearish Trend MODE: Impulsive STRUCTURE: Gray wave 3 POSITION: Orange wave 3 DIRECTION NEXT HIGHER DEGREE: Gray wave 4 DETAILS: The gray wave 2 appears to have completed, and now gray wave 3 is underway. The wave invalidation level is 147.262. The USDJPY Elliott Wave analysis on the 4-hour chart indicates a bearish trend. The analysis mode is impulsive, suggesting that the market is experiencing a strong downward movement. The structure currently tracked is gray wave 3, signaling the continuation of the bearish trend. Currently, the market is positioned within orange wave 3, which is part of the larger gray wave 3. This wave is typically marked by sharp price movements, reinforcing the bearish outlook. With gray wave 2 completed, gray wave 3 has started, indicating that the downtrend has gained momentum, and further downward movement is expected. The next higher-degree wave is gray wave 4, which will likely follow after the completion of gray wave 3. However, the focus remains on gray wave 3, as this is still driving market action. The downward momentum is expected to continue until the completion of wave 3, after which a potential corrective phase, gray wave 4, may emerge. A critical invalidation level is set at 147.262. If the price surpasses this level, the current bearish Elliott Wave structure would be invalidated, possibly signaling a weakening bearish trend. However, as long as the price remains below this level, the market is expected to maintain its downward trajectory. In conclusion, USDJPY is in a bearish trend, with gray wave 3 actively in progress. The completion of gray wave 2 suggests that the downward momentum is likely to continue, with the next significant phase being gray wave 4. The trend remains intact as long as the price stays below the invalidation level of 147.262. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
ASX: V300AEQ ETF UNITS – VAS Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We see that VAS may have finished wave 2-grey, and wave 3-grey is unfolding to push higher. ASX: V300AEQ ETF UNITS – VAS 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, grey) Mode: Motive Structure: Impulse Position: Wave ((iii))-navy of Wave 3-grey Details: Wave 2-grey just ended at the 94.13 low as an Expanded Flat. Wave 3-grey is unfolding to push much higher, it is subdividing and has just completed wave ((i)),((ii))-navy, now wave ((iii))-navy is probably unfolding to push much higher. The push below 98.39 suggests that the entire wave ((ii))-navy is extending longer than expected, but the end result is still wave ((iii))-navy will continue to push higher afterwards. Invalidation point: 98.39 ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: V300AEQ ETF UNITS – VAS 4-Hour Chart Analysis Function: Major trend (Minute degree, navy) Mode: Motive Structure: Impulse Position: Wave ((iii))-navy Details: Wave ((i))-navy just completed as Five-waves, wave ((ii))-navy also seems to have completed as Zigzag at the 98.39 low. Wave ((iii))-navy seems to be unfolding to push much higher. Pushing lower than that low, suggests wave ((ii))-navy is extending longer than expected. I am looking for trading setups around the Major 100.00 level. Invalidation point: 98.39 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: V300AEQ ETF UNITS – VAS aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here! -
Thanks AshishIG Update appreciated 😊
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