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By tradinglounge · Posted
NIFTY 50 (India) Elliott Wave Analysis Trading Lounge Day Chart NIFTY 50 (India) Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Gray Wave B POSITION: Orange Wave 4 DIRECTION NEXT LOWER DEGREES: Gray Wave C DETAILS: Gray Wave A of 4 appears to have completed; Gray Wave B of 4 is now active. Wave Cancel Invalidation Level: 26,461.0 The NIFTY 50 daily chart reflects an Elliott Wave analysis indicating a counter-trend movement. The current wave structure is identified as gray wave B, part of a corrective phase within orange wave 4. According to the analysis, gray wave A of 4 has likely concluded, and the market is now advancing through gray wave B of 4. This wave structure represents a temporary pause or reversal within the broader trend, characteristic of corrective phases in Elliott Wave Theory. The next anticipated progression is the development of gray wave C, which would complete the corrective sequence within orange wave 4. An invalidation level for this wave count is set at 26,461.0. If the market moves below this level, the wave structure will need reassessment, potentially indicating a shift from the expected pattern. This analysis offers traders a structured understanding of the ongoing corrective phase. It highlights key levels and directional trends, providing insights into potential price movements within this counter-trend scenario. NIFTY 50 (India) Elliott Wave Analysis Trading Lounge Weekly Chart NIFTY 50 (India) Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Orange Wave 4 DIRECTION NEXT HIGHER DEGREES: Orange Wave 5 DETAILS: Orange Wave 3 appears to have completed; Orange Wave 4 is now active. Wave Cancel Invalidation Level: 18,629.0 The NIFTY 50 weekly chart presents an Elliott Wave analysis suggesting a counter-trend movement. The current wave structure is identified as orange wave 4, which is part of a corrective phase. This follows the conclusion of orange wave 3, indicating a temporary consolidation or retracement before the larger trend resumes. Based on the analysis, orange wave 4 is currently in progress, with the next anticipated movement being the development of orange wave 5 once the corrective phase concludes. This aligns with Elliott Wave Theory, which describes corrective phases as brief pauses in a broader trend. An invalidation level for this wave count is set at 18,629.0. If the market moves beyond this level, the current wave structure would need reassessment, indicating a potential deviation from the expected pattern. This analysis provides a clear perspective on the ongoing corrective phase, emphasizing critical levels and directional trends. It offers traders insights into potential market behavior, preparing them for the transition back to a bullish phase as orange wave 5 takes shape. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
Australian Dollar/U.S. Dollar (AUDUSD) Day Chart AUDUSD Elliott Wave Technical Analysis FUNCTION: Bearish Trend MODE: Impulsive STRUCTURE: Orange Wave 3 POSITION: Navy Blue Wave 3 DIRECTION NEXT LOWER DEGREES: Orange Wave 3 (started) DETAILS: Orange Wave 2 appears to be completed; orange wave 3 is now active. Wave Cancel Invalidation Level: 0.65280 The AUD/USD daily chart reflects an Elliott Wave analysis indicating a bearish trend. The current wave structure is identified as orange wave 3, forming part of a larger impulsive sequence within navy blue wave 3. Based on the analysis, orange wave 2 appears to have concluded, marking the beginning of orange wave 3. This progression is consistent with the Elliott Wave Theory, which identifies cyclical wave patterns to forecast market movements. The ongoing orange wave 3 aligns with the broader bearish outlook, showcasing continued downward momentum. A critical invalidation level for this wave count is set at 0.65280. A move above this level would necessitate a reevaluation of the current wave structure, suggesting a potential shift in the expected bearish pattern. This analysis provides traders with a comprehensive view of the market's directional trend. It emphasizes significant levels and highlights the impulsive nature of the ongoing wave, offering valuable insights into the continued bearish momentum likely in the coming days. Australian Dollar/U.S. Dollar (AUDUSD) 4-Hour Chart AUDUSD Elliott Wave Technical Analysis FUNCTION: Bearish Trend MODE: Impulsive STRUCTURE: Gray Wave 3 POSITION: Orange Wave 3 DIRECTION NEXT LOWER DEGREES: Gray Wave 3 (started) DETAILS: Gray Wave 2 appears to have completed; Gray Wave 3 is now active. Wave Cancel Invalidation Level: 0.65533 The AUD/USD 4-hour chart reflects an Elliott Wave analysis indicating a bearish trend. The current wave structure is identified as gray wave 3, progressing within an impulsive sequence. Within this broader framework, orange wave 3 is currently active, signifying the continuation of the downward trend. According to the analysis, gray wave 2 has likely concluded, paving the way for the development of gray wave 3. This aligns with the principles of Elliott Wave Theory, which is utilized to identify repetitive wave patterns for market trend predictions. The ongoing bearish momentum demonstrates the impulsive characteristics of this wave, with further downside anticipated. A critical invalidation level for this wave count is set at 0.65533. A movement above this level would require a reassessment of the current wave structure, indicating a potential deviation from the expected bearish scenario. This analysis provides traders with a structured approach to understanding the prevailing market dynamics. It emphasizes significant levels and directional trends, delivering insights into the continuation of bearish momentum in the short term. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
ASX: V300AEQ ETF UNITS – VAS Elliott Elliott Wave Technical Analysis TradingLounge Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We see ASX:VAS rising with wave ((iii))-navy, but in the short term a pullback with wave (ii)-orange is probably needed before its wave (iii)-orange pushes further higher. ASX: V300AEQ ETF UNITS – VAS 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, grey) Mode: Motive Structure: Impulse Position: Wave ((iii))-navy of Wave 3-grey Details: Wave ((iii))-navy is unfolding to push higher, while price must remain above 101.29. A push lower would indicate that the ALT (Alternate Wave Count) is active, as the entire wave ((ii))-navy is not really over yet and there is still a push lower. Invalidation point: 101.29 ASX: V300AEQ ETF UNITS – VAS 4-Hour Chart Analysis Function: Major trend (Minute degree, navy) Mode: Motive Structure: Impulse Position: Wave v-grey of Wave (i)-orange of Wave ((iii))-navy Details: Since the low at 100.01 wave (i)-orange is probably unfolding, and I see quite a bit of overlap with the three-waves, so it could be developing as a Diagonal. Then wave (ii)-orange could have a pullback lower and finally wave (iii)-orange should continue pushing higher. Invalidation point: 100.01 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! #VAS #TradingLounge #ASXStocks #Stocks #ElliottWave
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