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By tradinglounge · Posted
META Elliott Wave Analysis Trading Lounge Meta Platforms Inc., (META) Daily Chart META Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor wave 5. DIRECTION: Upside in 5 of (5). DETAILS: Looking for upside into at least MediumLevel 650$. As wave 3 was as long as wave 1 we could also expect an extended wave 5 of (5) taking us towards the next TradingLevel at 800$. Meta Platforms Inc., (META) 1H Chart META Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {iii} of 5. DIRECTION: Upside into wave 5. DETAILS: Looking for upside into wave 5 as we seem to have completed a five wave move within Minute wave {iii}. This Elliott Wave analysis for Meta Platforms Inc., (META) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory to anticipate potential future movements. * META Elliott Wave Technical Analysis – Daily Chart* Meta is advancing in Minor wave 5 of Primary wave (5), with an upside target toward at least MediumLevel 650$. Since wave 3 was approximately the same length as wave 1, there is the potential for an extended wave 5, which could push the stock towards TradingLevel 800$. This scenario suggests continued strength and bullish momentum for META, with the possibility of reaching new highs if wave 5 extends significantly. * META Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, META appears to have completed the five-wave move within Minute wave {iii} of wave 5. The next expected move is a brief consolidation or pullback in wave {iv}, followed by an upside continuation into wave {v}, which will complete the overall structure of wave 5. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
NASDAQ Elliott Wave Analysis Trading Lounge Day Chart NASDAQ Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Navy Blue Wave 3 Position: Gray Wave 3 Direction of Next Lower Degrees: Navy Blue Wave 4 Details The NASDAQ daily chart presents an Elliott Wave analysis indicating a bullish trend. The current wave structure is identified as navy blue wave 3, part of a broader impulsive sequence, with gray wave 3 actively progressing. This indicates sustained upward momentum in the market. The analysis suggests that navy blue wave 2 has likely completed, allowing the market to advance into navy blue wave 3. According to Elliott Wave Theory, impulsive waves drive significant market trends. The ongoing navy blue wave 3 highlights a robust bullish phase, with further potential for price gains. Key Technical Level Wave Cancellation/Invalidation Level: 20,332.6 If the market moves below this level, the current wave structure will need reassessment, indicating a potential deviation from the anticipated bullish outlook. This Elliott Wave analysis provides traders with a clear understanding of the NASDAQ’s bullish trajectory. By focusing on critical levels and upward trends, the analysis supports insights into the ongoing momentum as the impulsive wave unfolds. The active navy blue wave 3 offers optimism for continued market strength. NASDAQ Elliott Wave Analysis Trading Lounge Weekly Chart NASDAQ Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Gray Wave 3 Position: Orange Wave 5 Direction of Next Lower Degrees: Gray Wave 4 Details The NASDAQ weekly chart presents an Elliott Wave analysis indicating a bullish trend. The current wave structure is identified as gray wave 3, part of an impulsive sequence, with orange wave 5 actively advancing. This underscores sustained upward momentum in the market. The analysis suggests that gray wave 2 has likely concluded, setting the stage for the progression of gray wave 3. In alignment with Elliott Wave Theory, impulsive waves signify strong directional moves, and the ongoing development of gray wave 3 indicates a robust bullish phase with potential for further market gains. Key Technical Level Wave Cancellation/Invalidation Level: 20,332.6 If the market moves below this level, the current wave structure must be reevaluated, potentially indicating a deviation from the expected bullish outlook. This Elliott Wave analysis provides traders with a comprehensive perspective on the NASDAQ’s bullish momentum. By focusing on critical levels and upward trends, the analysis offers valuable insights into the continuation of market strength as the impulsive wave structure evolves. The active gray wave 3 suggests optimism for sustained market advances. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
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: Bearish Trend Mode: Impulsive Structure: Orange Wave 3 Position: Navy Blue Wave 3 Direction of Next Lower Degrees: Orange Wave 3 (in progress) Details The daily chart of GBPUSD demonstrates a bearish trend based on Elliott Wave analysis. The current wave structure is identified as orange wave 3, which forms part of the impulsive sequence within navy blue wave 3. This indicates ongoing downward pressure in the market. The analysis suggests that orange wave 2 appears to have completed, paving the way for the development of orange wave 3 within navy blue wave 3. Consistent with Elliott Wave Theory, impulsive waves signify strong directional moves, and the active orange wave 3 signals a notable bearish phase with further potential for price declines. Key Technical Level Wave Cancellation/Invalidation Level: 1.30502 If the market rises above this level, the current wave structure will need reassessment, potentially indicating a deviation from the projected bearish trend. This Elliott Wave analysis provides a structured approach for traders to interpret GBPUSD’s bearish momentum. By emphasizing critical levels and directional trends, the analysis supports an understanding of the ongoing downward trajectory as the impulsive wave unfolds. British Pound/ U.S. Dollar (GBPUSD) – 4-Hour Chart GBPUSD Elliott Wave Technical Analysis Function: Bearish Trend Mode: Impulsive Structure: Orange Wave 3 Position: Navy Blue Wave 3 Direction of Next Lower Degrees: Orange Wave 3 (in progress) Details The GBPUSD 4-hour chart presents an Elliott Wave analysis indicating a bearish trend. The current wave structure is identified as orange wave 3, which is part of an impulsive sequence within navy blue wave 3. This highlights the continuation of downward momentum in the market. The analysis suggests that orange wave 2 has likely completed, marking the onset of orange wave 3 within navy blue wave 3. In line with Elliott Wave Theory, impulsive waves are characterized by strong directional movements. The active orange wave 3 indicates a significant bearish phase, with the potential for further price declines. Key Technical Level Wave Cancellation/Invalidation Level: 1.30502 If the market moves above this level, the current wave structure must be reevaluated, indicating a possible departure from the expected bearish trend. This Elliott Wave analysis delivers a structured framework for traders to assess the GBPUSD’s bearish trajectory. By emphasizing critical levels and trends, it provides valuable insights into the continuation of downward momentum as the impulsive wave sequence evolves. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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