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    • NZDUSD Elliott Wave Analysis Trading Lounge 4 Hour  Chart, 7 December 23 New Zealand Dollar/U.S.Dollar (NZDUSD) 4 Hour Chart NZDUSD Elliott Wave Technical Analysis Function: Trend Mode: corrective as red wave 4 Structure: red wave 4 of 3 Position: Black wave 1 Direction Next Higher Degrees:red wave 5 of 3 Details; red wave 4 of blue wave 3 is in play , after that red wave 5 will start  . Wave Cancel invalid level: 0.60536 The "NZDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart" dated 7 December 23, delves into the intricacies of the New Zealand Dollar/U.S. Dollar (NZDUSD) currency pair's price movements over a four-hour timeframe. Employing Elliott Wave analysis, the insights provided are crucial for traders seeking to decipher potential trends and corrections in the market. The analysis designates the market "Function" as "Trend," highlighting a predominant focus on identifying and capitalizing on the current market trend. Recognizing the trend is fundamental for traders aligning their strategies with the prevailing price movements. The identified "Mode" characterizes the market movement as "corrective as red wave 4," indicating that the present phase is corrective within the context of the fourth wave in the Elliott Wave sequence. Corrective waves typically represent temporary counter-trend movements. The primary "Structure" is labeled as "red wave 4 of 3," offering insights into the ongoing correction within the larger Elliott Wave structure. This information aids traders in understanding the current phase in the overall market context. The specified "Position" is denoted as "Black wave 1," providing information about the current wave count within the broader Elliott Wave sequence. This aspect helps traders gauge the market's position within the larger wave cycle. The directional guidance for "Next Higher Degrees" is projected as "red wave 5 of 3," indicating an expectation of the next impulsive wave within the overarching trend. This information is invaluable for traders looking to align their positions with the anticipated direction of the trend. In terms of "Details," the analysis notes that "red wave 4 of blue wave 3 is in play," signaling an ongoing corrective phase within the context of the third wave of a larger degree. The anticipation is that, following this correction, "red wave 5" will commence, representing the resumption of the overall trend. The "Wave Cancel invalid level" is identified as "0.60536," serving as a critical threshold. If the market reaches this level, it would invalidate the current wave count, prompting a reconsideration of the prevailing market conditions. To summarize, the NZDUSD Elliott Wave Analysis for the 4-hour chart on 7 December 23, reveals a corrective movement labeled as "red wave 4 of 3." The analysis provides insights into the wave structure, position, expected next wave, and a crucial level for potential wave cancellation within the broader trend. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!    
    • Elliott Wave Analysis TradingLounge Daily Chart, 7 December 23, Binance/ U.S. dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave C Direction Next higher Degrees: wave (2) of Impulse Wave Cancel invalid level: Details: wave (2) may end at 224.0 and the price increase again in wave (3) Binance/ U.S. dollar(BNBUSD)Trading Strategy : Binance's recovery has been good, with five waves rising from the 202.8 level, giving us an overall bullish outlook. The correction is likely to end at the level of 222.6 and the price is entering another uptrend in wave 3. Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, Wave Oscillators a Bullish Momentum. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Source : Tradinglounge.com get trial here!         Elliott Wave Analysis TradingLounge 4H Chart, 7 December 23, Binance/ U.S. dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave C Direction Next higher Degrees: wave (2) of Impulse Wave Cancel invalid level: Details: wave (2) may end at 224.0 and the price increase again in wave (3) Binance/ U.S. dollar(BNBUSD)Trading Strategy : Binance's recovery has been good, with five waves rising from the 202.8 level, giving us an overall bullish outlook. The correction is likely to end at the level of 222.6 and the price is entering another uptrend in wave 3. Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, Wave Oscillators a Bullish Momentum.    
    • In this buoyant market with Bitcoin hitting $42,000 and Ethereum reaching $2,200, there's a risk of getting swept up in the excitement fueled by wealth screenshots shared online. However, after impulsive investments, many realize they might still be at a loss, far from outperforming Bitcoin or Ethereum. Here are key takeaways to survive a bull market gleaned from over six years of experience: 01 Few Profits in a Bull Market A bull market implies rising cryptocurrency prices, driven by an optimistic outlook. Yet, making profits is not for everyone. Regardless of positive news or technology, price surges happen when buying outpaces selling. Bull markets inflate numbers but only a few benefit. 02 Preventing Bull Market Missteps In this evolving industry, new narratives emerge with each market rally, driving interest. To navigate: - New Narratives: Expect new storylines; innovation typically starts on-chain. Current trends hint at Bitcoin's ecosystem and various emerging concepts. - Consensus and Open-mindedness: Consensus drives interest. Keeping an open mind is crucial to understand new narratives. - Identifying Leaders: Market cap often defines leadership, but sectors may lack clear leaders or witness transitions. - Top Institutional Trends: Monitoring top institutions' moves is crucial, although they might influence the market significantly. 03 Pitfalls to Avoid Despite market surges, human impulses persist. Here are key pitfalls: - Leveraged Contracts: Playing these is risky; initial success may lead to overconfidence, resulting in significant losses. - All-In Attitude: Don't exhaust your capital; respect the market and learn from past market crashes. - Frequent Trading: Emotional trading often results in losses; patience is vital. - Following Trends Blindly: Avoid blindly following trends; understanding the project you're investing in is crucial. .Surviving a bull market isn't about picking money off the ground; it's about staying steady and avoiding pitfalls in an enticing yet volatile landscape.
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