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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 wave 2-grey has ended and wave 3-grey is unfolding to push higher, subwaves are developing in the form of wave ((i)), and wave ((ii))-navy appears to be nearing completion, allowing wave ((iii))-navy to return to push higher later. ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis ASX: V300AEQ ETF UNITS – VAS 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, grey) Mode: Motive Structure: Impulse Position: Wave c-grey of Wave (y)-orange of Wave ((ii))-navy Details: The short-term outlook shows that wave ((ii))-navy is lasting longer than expected, it is unfolding as a Double Zigzag, wave (y)-orange seems to be nearing completion, and will be followed by wave ((iii) ))-navy may return to push higher Invalidation point: 92.93 ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis ASX: V300AEQ ETF UNITS – VAS 4-Hour Chart Analysis Function: Major trend (Minute degree, navy) Mode: Motive Structure: Impulse Position: Wave c-grey of Wave (y)-orange of Wave ((ii))-navy Details: The shorter-term outlook shows wave ((ii))-navy developing as a Double Zigzag, wave (y)-orange unfolding as an ABC Zigzag, waves a,b-grey completed, and wave c- gray seems to be fulfilling its role of continuing to push lower. After wave ((ii))-navy completes, wave ((iii))-navy will return to push even higher. Invalidation point: 92.93 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! -
Asian stocks rose on Wednesday following Fed Chair Powell's comments suggesting upcoming US rate cuts. The yen remained near 38-year lows against the dollar, raising intervention concerns. Powell's remarks about disinflation and the need for more data before rate cuts sent Treasury yields lower and weakened the dollar. Traders now anticipate a 69% chance of a Fed rate cut in September. Chinese stocks fell slightly, while Hong Kong's Hang Seng rose, following an eight-month low for the Caixin services PMI. Today sees a huge volume of US data, including the ADP payroll report and Fed minutes, while initial jobless claims are released today due to tomorrow's holiday. The S&P 500 closed above 5500 and the Nasdaq 100 finished above 20,000 on Tuesday, hitting new record highs -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, Polkadot/ U.S. dollar(DOTUSD) DOTUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave C Direction Next higher Degrees: wave (II) of Impulse Wave Cancel invalid level: Details: Wave II Is equal to 61.8% of Wave I at 5.225. Polkadot/ U.S. dollar(DOTUSD)Trading Strategy: Polkadot overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend. Polkadot/ U.S. dollar(DOTUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H4 Chart, Polkadot/ U.S. dollar(DOTUSD) DOTUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave C Direction Next higher Degrees: wave (II) of Impulse Wave Cancel invalid level: Details: Wave II Is equal to 61.8% of Wave I at 5.225. Polkadot/ U.S. dollar(DOTUSD)Trading Strategy: Polkadot overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend. Polkadot/ U.S. dollar(DOTUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!
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