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By tradinglounge · Posted
GBPAUD Elliott Wave Analysis Trading Lounge Day Chart GBPAUD Elliott Wave Technical Analysis Function: Trend Mode: Corrective Structure: Orange Wave 2 Position: Navy Blue Wave 3 Direction Next Lower Degrees: Orange Wave 3 Details: Orange wave 1 of 3 looking completed, now orange wave 2 is in play. Wave Cancel invalid level: 1.93472 The GBPAUD Elliott Wave analysis on the daily chart provides an insightful look into the current market dynamics using Elliott Wave Theory. The analysis indicates the market function is a trend, meaning the market is following a specific direction rather than moving sideways or in a choppy manner. Current Market Mode: Corrective The mode of the market is described as corrective, indicating that the current phase is a pullback or retracement within a larger trend. This corrective mode is part of the broader trend and sets the stage for the next impulsive move. Market Structure: Orange Wave 2 The market structure is identified as orange wave 2, a corrective wave in the Elliott Wave cycle. The market is currently undergoing a temporary correction before resuming its trend. Position: Navy Blue Wave 3 The position within this structure is navy blue wave 3, signifying this wave is in the development phase within the corrective mode. Next Lower Degrees: Orange Wave 3 The direction for the next lower degrees points towards orange wave 3, indicating that after the completion of the current corrective phase (orange wave 2), the market is expected to transition into an impulsive phase (orange wave 3). This anticipated move is important for traders as it signifies the potential for new trading opportunities in the direction of the broader trend. Analysis Details Orange Wave 1 of 3 Completed: This suggests the initial phase of the impulsive move (orange wave 1) has finished, and the market is now in orange wave 2, a corrective phase. Wave Cancel Invalid Level: The critical wave cancel invalid level is set at 1.93472. If the market falls below this point, the current wave count would be invalidated, necessitating a reevaluation of the wave structure. Summary The GBPAUD daily chart analysis identifies the market as being in a corrective trend within orange wave 2 and positioned in navy blue wave 3. The direction for the next lower degrees suggests an upcoming orange wave 3 impulsive phase. The market is currently experiencing orange wave 2 after completing orange wave 1 of 3, with a significant wave cancel invalid level at 1.93472. GBPAUD Elliott Wave Analysis Trading Lounge 4-Hour Chart GBPAUD Elliott Wave Technical Analysis Function: Trend Mode: Corrective Structure: Orange Wave 2 Position: Navy Blue Wave 3 Direction Next Lower Degrees: Orange Wave 3 Details: Orange wave 1 of 3 looking completed, now orange wave 2 is in play. Wave Cancel invalid level: 1.93472 The GBPAUD Elliott Wave analysis on the 4-hour chart provides an in-depth examination of the current market trends using Elliott Wave Theory. The analysis identifies the market function as a trend, indicating that the market is currently moving in a specific direction rather than experiencing consolidation or correction. Current Market Mode: Corrective The mode of the market is described as corrective, suggesting that the current phase is a temporary pullback within the broader trend. This corrective mode is part of the larger trend and is necessary to set up the next impulsive move. Market Structure: Orange Wave 2 The market structure is highlighted as orange wave 2, which is a corrective wave in the Elliott Wave cycle. The position within this structure is navy blue wave 3, indicating that this wave is currently developing and is part of the corrective phase. Next Lower Degrees: Orange Wave 3 The direction for the next lower degrees points towards orange wave 3, indicating that after the completion of the current corrective phase, the market is expected to enter an impulsive phase. This anticipated shift from orange wave 2 to orange wave 3 is crucial for traders as it may present opportunities for new entries in the direction of the broader trend. Analysis Details Orange Wave 1 of 3 Completed: This suggests the initial phase of the impulsive move has concluded, and the market is now in orange wave 2, a corrective phase. Wave Cancel Invalid Level: The critical wave cancellation invalid level is set at 1.93472. If the market moves below this point, the current wave count would be invalidated, requiring a reassessment of the wave structure. Summary The GBPAUD 4-hour chart analysis identifies the market as being in a corrective trend, specifically within orange wave 2 and positioned in navy blue wave 3. The direction for the next lower degrees points towards a forthcoming orange wave 3 impulsive phase. The market is currently experiencing orange wave 2, following the completion of orange wave 1 of 3, with a critical wave cancel invalid level at 1.93472 that traders should monitor closely. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NATIONAL AUSTRALIA BANK LIMITED - NAB . We see that wave (iii)-orange of wave ((v))-navy is opening up to push even higher. The most recent Long Trade position at Trade Recommendations generated quite good profits. ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Technical Analysis ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB 1D Chart (Semilog Scale) Analysis Function: Major trend (Minute degree, navy) Mode: Motive Structure: Impulse Position: Wave v-grey of Wave (iii)-orange of Wave ((v))-navy Details: The short-term outlook suggests wave (iii)-orange is unfolding to push higher. Wave ((3))-navy of iii-grey continues to open, if it penetrates the 36.50 level, it will continue towards the 37.60 level. The Long position has had quite good profits. Invalidation point: 35.46 ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Technical Analysis ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB 4-Hour Chart Analysis Function: Major trend (Minuette degree, orange) Mode: Motive Structure: Impulse Position: Wave v-grey of Wave (iii)-orange Details: The shorter-term outlook shows that the v-grey wave may have recently ended as an Expanded Flat, and the v-grey wave is being opened up to push higher, possibly targeting 37.60. Invalidation point: 35.46 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB 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, Dogecoin/ U.S. dollar(DOGEUSD) DOGEUSD Elliott Wave Technical Analysis Function: Counter trend Mode: Corrective Structure: Zigzag Position: Wave ((C)) Direction Next higher Degrees: wave I of Impulse Wave Cancel invalid Level: Details: Wave ((4) may is complete and the Price entry to uptrend again. DogeCoin/ U.S. dollar(DOGEUSD)Trading Strategy: Dogecoin overall is still in the period of correction. In the position of wave (II) with a Zigzag 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. DogeCoin/ U.S. dollar(DOGEUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H4 Chart, Dogecoin/ U.S. dollar(DOGEUSD) DOGEUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave A Direction Next higher Degrees: Wave V of Impulse Wave Cancel invalid Level: Details: wave ((2)) Is Equal to 61.8% of Wave ((1)) at 0.1373 DogeCoin/ U.S. dollar(DOGEUSD)Trading Strategy: Dogecoin overall is still in the period of correction. In the position of wave (II) with a Zigzag 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. DogeCoin/ U.S. dollar(DOGEUSD)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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Question
Jammy
Hi All,
I've been using Interactive Brokers Trading WorkStation (TWS) platform where I subscribe to Level 2 data.
However I'm thinking of changing platforms to PRT.
I assumed with PRT I would be able to view Level 2 data and be able to see Time and sales information.
It seems my assumption was wrong. Is that right?
I'm mainly trading on LSE but beginning to lean to the US now.
Thanks in Advance
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