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By tradinglounge · Posted
GBPUSD Elliott Wave Analysis Trading Lounge Day Chart, British Pound/U.S.Dollar(GBPUSD) Day Chart GBPUSD Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE: red wave 3 POSITION: blue wave 1 DIRECTION NEXT LOWER DEGREES: red wave 4 DETAILS: red wave 2 looking completed at 1.2459 .Now red wave 3 is in play . Wave Cancel invalid level: 1.22997 The daily chart for the British Pound versus the U.S. Dollar (GBP/USD) reveals a trend-following Elliott Wave pattern, providing insights into the directional movement of the market. ### Function: The function of the chart is defined as "Trend," indicating that the GBP/USD pair is currently exhibiting a strong directional movement. This suggests that the market is likely experiencing a sustained movement in one direction over a period of time. ### Mode: The mode identified is "impulsive," which signifies that the market is exhibiting strong momentum in its movement. Impulsive waves are characteristic of Elliott Wave theory and typically represent phases of robust directional movement within a broader trend. ### Structure: The structure highlighted in the analysis is "red wave 3," indicating that the market is currently in the midst of a significant and forceful upward movement. Red waves typically denote larger-degree waves within the Elliott Wave sequence, with red wave 3 often being the most powerful and extended phase. ### Position: The position on the chart is identified as "blue wave 1," suggesting that the first wave of the broader impulsive pattern has commenced. This indicates the initiation of a new phase of upward price movement within the larger trend. ### Direction for Next Lower Degrees: The direction for the next lower degrees is indicated as "red wave 4," implying that after the completion of the current impulsive wave (red wave 3), a corrective phase (red wave 4) is expected to follow. Corrective waves typically involve temporary price retracements or consolidations before the trend resumes. ### Details: The analysis notes that "red wave 2" has likely completed its retracement, with the market now in the early stages of "red wave 3." The wave cancellation or invalidation level is set at 1.22997, indicating a critical threshold. A breach of this level could potentially invalidate the current wave count, suggesting a shift in the market dynamics. In summary, the daily chart for GBP/USD indicates a strong impulsive trend, with the market currently in the early stages of "red wave 3." The completion of "red wave 2" suggests that a new upward leg is underway, with a wave cancellation level providing a crucial reference point for assessing the validity of the current wave count. Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here https://tradinglounge.com/341 7 Analysts Over 170 Markets Covered Bitcoin Prediction Guess the Price? Test Your Analysis - Win 1 Million Satoshi https://tradinglounge.com/Bitcoin-Prediction GBPUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, British Pound/U.S.Dollar(GBPUSD) 4 Hour Chart GBPUSD Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE: red wave 3 POSITION: blue wave 1 DIRECTION NEXT LOWER DEGREES: red wave 4 DETAILS: red wave 2 looking completed at 1.2459 .Now red wave 3 is in play . Wave Cancel invalid level: 1.22997 The 4-hour chart for the British Pound versus the U.S. Dollar (GBP/USD) reveals a trend-following Elliott Wave pattern, providing insights into the directional movement of the market. ### Function: The function of the chart is defined as "Trend," indicating that the GBP/USD pair is currently exhibiting a strong directional movement. This suggests that the market is likely experiencing a sustained movement in one direction over a period of time. ### Mode: The mode identified is "impulsive," which signifies that the market is exhibiting strong momentum in its movement. Impulsive waves are characteristic of Elliott Wave theory and typically represent phases of robust directional movement within a broader trend. ### Structure: The structure highlighted in the analysis is "red wave 3," indicating that the market is currently in the midst of a significant and forceful upward movement. Red waves typically denote larger-degree waves within the Elliott Wave sequence, with red wave 3 often being the most powerful and extended phase. ### Position: The position on the chart is identified as "blue wave 1," suggesting that the first wave of the broader impulsive pattern has commenced. This indicates the initiation of a new phase of upward price movement within the larger trend. ### Direction for Next Lower Degrees: The direction for the next lower degrees is indicated as "red wave 4," implying that after the completion of the current impulsive wave (red wave 3), a corrective phase (red wave 4) is expected to follow. Corrective waves typically involve temporary price retracements or consolidations before the trend resumes. ### Details: The analysis notes that "red wave 2" has likely completed its retracement, with the market now in the early stages of "red wave 3." The wave cancellation or invalidation level is set at 1.22997, indicating a critical threshold. A breach of this level could potentially invalidate the current wave count, suggesting a shift in the market dynamics. In summary, the 4-hour chart for GBP/USD indicates a strong impulsive trend, with the market currently in the early stages of "red wave 3." The completion of "red wave 2" suggests that a new upward leg is underway, with a wave cancellation level providing a crucial reference point for assessing the validity of the current wave count. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
ASX: WISETECH GLOBAL LIMITED – WTC Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with WISETECH GLOBAL LIMITED – WTC. We identify that WTC is bullish with wave (v) to continue pushing higher. In the forecast we made last week, the current WTC increased in price exactly as predicted. ASX: WISETECH GLOBAL LIMITED – WTC Elliott Wave Technical Analysis ASX: WISETECH GLOBAL LIMITED – WTC 1D Chart (Semilog Scale) Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave iii-blue of Wave (v)-purple of Wave ((iii))-green In the forecast We made last week, the current WTC increased in price exactly as predicted. Details: The short-term outlook indicates that the (iv)-purple wave has just concluded, and the (v)-purple wave may unfold to push higher, targeting 109.26. It's crucial for the price to consistently remain above the level of 94.82 to support this perspective. Invalidation point: 88.33 Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here https://tradinglounge.com/341 7 Analysts Over 170 Markets Covered Bitcoin Prediction Guess the Price? Test Your Analysis - Win 1 Million Satoshi https://tradinglounge.com/Bitcoin-Prediction ASX: WISETECH GLOBAL LIMITED – WTC Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: WISETECH GLOBAL LIMITED – WTC Elliott Wave Technical Analysis ASX: WISETECH GLOBAL LIMITED – WTC 4-Hour Chart Analysis Function: Major trend (Subminuette degree, blue) Mode: Motive Structure: Impulse Position: Wave iii-blue In the forecast we made last week, the current WTC increased in price exactly as predicted. Details: In the shorter-term outlook, wave iii-blue is opening up to push higher, while the price must always remain above the level of 94.79. A dip below 94.79 would indicate that wave iv-blue is opening up to push slightly lower before wave v-blue resumes to push higher. Invalidation point: 88.33 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: WISETECH GLOBAL LIMITED – WTC 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! -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, Bitcoin/ U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat position: Wave ((C)) Direction Next higher Degrees: wave (III) Wave Cancel invalid level: 31046.25 Details: Wave IV may be complete and the Price increase again in Wave V Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: Overall, Bitcoin is still in an uptrend. But it is a period of correction in the fourth wave. which appears to be complete. Therefore, it is an opportunity for us to join the trend once again. Look for opportunities to open long positions.. Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here https://tradinglounge.com/341 7 Analysts Over 170 Markets Covered Bitcoin Prediction Guess the Price? Test Your Analysis - Win 1 Million Satoshi https://tradinglounge.com/Bitcoin-Prediction Elliott Wave Analysis TradingLounge H4 Chart, Bitcoin/ U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat position: Wave C Direction Next higher Degrees: wave (2) Wave Cancel invalid level: 59835.83 Details: Wave (2) is equal to 61.8% of Wave (1) at 61903.07 Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: Overall, Bitcoin is still in an uptrend. But it is a period of correction in the fourth wave. which appears to be complete. Therefore, it is an opportunity for us to join the trend once again. Look for opportunities to open long positions.. Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!
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Guest ig_p
I've created a live account and wanted to also set up a demo account but when I try to make a username and password it says there was an error and doesn't let me create one.
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