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By tradinglounge · Posted
FTSE 100 Elliott Wave Analysis - Trading Lounge Day Chart FTSE 100 (UK) Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Gray wave 3 Position: Orange wave 5 Direction Next Higher Degrees: Gray wave 3 (continue) Details: Gray wave 2 is completed. Now gray wave 3 is in play. Wave cancel/invalidation level: 8,178.07 The FTSE 100 Elliott Wave analysis on the day chart suggests a bullish trend, characterized by an impulsive mode that reflects strong upward momentum. The primary structure in focus is gray wave 3, part of the ongoing upward trend. Currently, the market is positioned within orange wave 5 of gray wave 3, indicating that the market is advancing in the final phase of this wave sequence. The analysis shows that gray wave 2 has been completed, and now gray wave 3 is actively pushing the market higher. The next expected phase is the continuation of gray wave 3, pointing to further upward movement in the near term. This phase will likely continue driving the market upward until a corrective phase begins. The wave structure follows the typical Elliott Wave pattern, where impulsive waves drive the market higher, and corrective waves provide brief pullbacks. The analysis also sets a wave cancellation or invalidation level at 8,178.07. If the market falls below this level, the current Elliott Wave count will be invalidated, necessitating a reassessment of the wave structure. However, as long as the price remains above this threshold, the bullish trend in gray wave 3 is expected to continue. Summary: The FTSE 100 is in a strong bullish phase, with gray wave 3 progressing upward. Orange wave 5 is in play, driving further upward momentum. The invalidation level is set at 8,178.07, with the trend expected to remain intact unless breached. FTSE 100 Elliott Wave Analysis - Trading Lounge Weekly Chart FTSE 100 (UK) Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Orange wave 5 Position: Navy blue wave 3 Direction Next Higher Degrees: Orange wave 5 (continue) Details: Orange wave 4 is completed. Now orange wave 5 is in play. Wave cancellation/invalidation level: 7,920.18 The FTSE 100 weekly Elliott Wave analysis indicates that the market is currently following a bullish trend with an impulsive mode, suggesting strong upward momentum. The primary wave structure under focus is orange wave 5, which is part of the larger bullish wave sequence. The market is positioned in navy blue wave 3, indicating the continuation of this bullish trend. Orange wave 4 has been completed, and the market has now entered the next phase: orange wave 5. This wave signifies the continuation of the upward trend, with further gains expected as wave 5 progresses. The analysis highlights that orange wave 5 is actively in play, representing the final leg of this particular wave sequence. As long as the price follows the current wave structure, further upward movement is anticipated. The bullish trend is expected to persist unless the key wave cancellation level is breached. The invalidation level is set at 7,920.18, meaning if the price falls below this level, the current Elliott Wave count would be invalidated, and the market analysis would need to be reassessed. Summary: The FTSE 100 is in a bullish phase, with orange wave 5 in progress, signaling ongoing upward movement. Orange wave 4 is completed, and the market has resumed its bullish trend. The invalidation level is at 7,920.18, with the trend expected to continue unless this level is breached. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
USDCAD Elliott Wave Analysis - Trading Lounge U.S. Dollar / Canadian Dollar (USDCAD) Day Chart USDCAD Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Navy blue wave 1 Position: Gray wave 3 Direction Next Lower Degrees: Navy blue wave 2 Details: Navy blue wave 1 of gray wave 3 is still in play. Wave cancellation/invalid level: 1.34189. The USDCAD Elliott Wave analysis on the day chart indicates an impulsive trend, signifying a strong upward movement in the market. The primary structure of focus is navy blue wave 1, which is part of the larger gray wave 3. Currently, the market is situated within gray wave 3, and navy blue wave 1 remains in progress. This wave implies that the upward trend is continuing, with the market likely to complete this phase before advancing to the next stage of the wave sequence. The ongoing movement in navy blue wave 1 reflects sustained bullish momentum, forming part of the impulsive wave structure. The next anticipated phase is navy blue wave 2, representing a potential corrective phase after the completion of the current impulsive wave. This phase may lead to a temporary pullback or consolidation before the upward trend resumes in the subsequent wave. However, the analysis suggests that for now, navy blue wave 1 is still active, signaling further upward movement in the short term. A wave cancellation or invalidation level is identified at 1.34189. If the price drops below this level, the current Elliott Wave count would be invalidated, and the market's wave structure would need to be reassessed. As long as the price remains above this level, the bullish trend within navy blue wave 1 of gray wave 3 is expected to persist. Summary: USDCAD is in an impulsive phase, with navy blue wave 1 of gray wave 3 still in progress. The market is in an upward trend, with an invalidation level at 1.34189. The next phase will likely involve a corrective movement in navy blue wave 2. U.S. Dollar / Canadian Dollar (USDCAD) 4 Hour Chart USDCAD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Orange wave 4 Position: Navy blue wave 1 Direction Next Higher Degrees: Orange wave 5 Details: Orange wave 3 is complete, and orange wave 4 is now in play. Wave cancellation/invalidation level: 1.35418. The USDCAD Elliott Wave analysis on the 4-hour chart presents a counter-trend scenario, focusing on a corrective pattern. The primary wave structure under analysis is orange wave 4, marking a corrective phase after the completion of the previous impulsive movement in orange wave 3. The analysis indicates that orange wave 3 has concluded, and the market is now progressing through orange wave 4. This wave represents a corrective movement within the broader wave sequence, typically characterized by consolidation or a pullback. Orange wave 4 is expected to act as a temporary retracement before the market resumes its upward movement in orange wave 5. At this stage, the market is positioned within navy blue wave 1, which is part of orange wave 4. This signals the initiation of the corrective phase, with the market currently moving through this retracement period as it prepares for the eventual continuation of the larger upward trend in orange wave 5. The analysis identifies a wave cancellation or invalidation level at 1.35418. Should the price fall below this level, the current wave count and analysis would be invalidated, requiring a reassessment of the market's wave structure. However, as long as the price remains above this level, the corrective phase of orange wave 4 is expected to continue, with potential for upward movement in orange wave 5 once the correction concludes. Summary: USDCAD is in a corrective phase, with orange wave 4 in progress following the completion of orange wave 3. The market is currently consolidating or retracing during this phase. The invalidation level is set at 1.35418, with an upward movement likely after orange wave 4 completes, leading into orange wave 5. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
ASX: CSL LIMITED - CSLElliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with CSL LIMITED - CSL. We see bullish potential with wave iii-grey, but need to wait a bit until wave ii-grey ends. ASX: CSL LIMITED - CSL1D Chart (Semilog Scale) Analysis Function: Major trend (Minute degree, navy) Mode: Motive Structure: Impulse Position: Wave i-grey of Wave (iii)-orange of Wave ((iii))-navy Details: The 1D chart shows things more clearly than the 1W chart. So, wave (ii)-orange may have ended, and wave (iii)-orange is starting to push higher. I will look for a Long Trade Setup when the Major Level 100.00 becomes tested support. Invalidation point: 283.35 ASX: CSL LIMITED - CSL4-Hour Chart Analysis Function: Major trend (Minute degree, navy) Mode: Motive Structure: Impulse Position: Wave ((4))-navy of wave i-grey of Wave (iii)-orange. Details: Looking closer from the low at 283.85, I see a five-wave pushing higher, perhaps as we are in wave ((4))-navy, and then we move higher with wave ((5))-navy, and that will complete the entire i-grey wave. Then wave ii-grey pushes lower, and we will Go Long when the Major Level 300.00 becomes tested support by price staying above it afterwards. Invalidation point: 283.85 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: CSL LIMITED - CSLaim 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! Tags: #CSLLIMITED #CSL #ElliottWave #TradingLounge #ASX #ASXStocks #ASX200
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