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By tradinglounge · Posted
FTSE 100 (UK) Elliott Wave Analysis Trading Lounge Day Chart, FTSE 100 (UK) Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE: orange wave 5 POSITION: navy blue wave 3 DIRECTION NEXT LOWER DEGREES: navy blue wave 4 DETAILS: orange wave 4 looking completed. Now orange wave 5 of navy blue wave 3 is in play. Wave Cancel invalid level: 7760.18 The FTSE 100 Elliott Wave analysis on the daily chart aims to identify and track the market trend using an impulsive mode. The current wave structure is classified as orange wave 5, positioned within the broader context of navy blue wave 3. This indicates that the market is in an impulsive phase, which is characterized by a strong directional movement. The function of this analysis is to observe and interpret the trend behavior within the FTSE 100 market. The impulsive mode signifies that the market is currently experiencing a robust directional movement as part of the overall wave pattern. Specifically, orange wave 5 is in play, indicating that the market is advancing within the framework of navy blue wave 3. The direction for the next lower degrees is identified as navy blue wave 4. This suggests that after the completion of the current impulsive phase in orange wave 5, the market is expected to transition into the next phase, known as navy blue wave 4. This phase will likely mark a corrective movement following the completion of the current impulsive trend. Detailed observations in the analysis indicate that orange wave 4 appears to be completed. This means that the market has likely finished the preceding corrective phase and is now advancing into orange wave 5 of navy blue wave 3. This ongoing wave will continue the impulsive pattern within the broader navy blue wave 3 context. An important aspect of this analysis is the wave cancel invalid level, set at 7760.18. This level serves as a critical point for maintaining the validity of the current wave structure. If the market price exceeds this level, the current wave count would be invalidated, necessitating a reassessment of the Elliott Wave analysis and potentially altering the market outlook. In summary, the FTSE 100 daily chart analysis indicates that the market is currently in an impulsive phase within orange wave 5, which is part of the larger navy blue wave 3. Once orange wave 5 is complete, the market is expected to transition into navy blue wave 4, initiating a corrective sequence. The wave cancel invalid level at 7760.18 is crucial for confirming the current wave count and guiding future market expectations based on Elliott Wave principles. FTSE 100 (UK) Elliott Wave Analysis Trading Lounge Weekly Chart, FTSE 100 (UK) Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE: orange wave 5 POSITION: navy blue wave 3 DIRECTION NEXT LOWER DEGREES: navy blue wave 4 DETAILS: orange wave 4 looking completed. Now orange wave 5 of navy blue wave 3 is in play. Wave Cancel invalid level: 7760.18 The FTSE 100 (UK) Elliott Wave analysis on the weekly chart provides a detailed examination of the market trend using an impulsive mode. This analysis focuses on identifying the current wave structure and predicting future movements within the Elliott Wave framework. The structure under observation is orange wave 5, positioned within the larger context of navy blue wave 3. The function of this analysis is to track the ongoing trend in the FTSE 100 market, which is currently in an impulsive phase. This phase is characterized by a strong directional movement that is part of a broader wave pattern. The impulsive mode indicates that the market is moving forcefully in one direction, specifically within the orange wave 5 structure of navy blue wave 3. The direction for the next lower degrees is identified as navy blue wave 4. This suggests that following the completion of the current impulsive phase in orange wave 5, the market is expected to transition into a corrective phase, known as navy blue wave 4. This phase will likely involve a pullback or consolidation after the current upward movement. Detailed analysis reveals that orange wave 4 appears to be completed. This completion signifies that the market has finished its previous corrective phase and is now advancing into orange wave 5 of navy blue wave 3. This ongoing wave represents the continuation of the impulsive trend within the larger navy blue wave 3 framework. An essential component of this analysis is the wave cancel invalid level, set at 7760.18. This level acts as a critical threshold for validating the current wave structure. If the market price exceeds this level, it would invalidate the existing wave count, necessitating a reassessment of the Elliott Wave analysis and potentially altering the market outlook. In summary, the FTSE 100 weekly chart analysis indicates that the market is currently in an impulsive phase within orange wave 5, which is part of the larger navy blue wave 3. Once orange wave 5 is complete, the market is expected to transition into navy blue wave 4, initiating a corrective sequence. The wave cancel invalid level at 7760.18 is crucial for confirming the current wave count and guiding future market expectations based on Elliott Wave principles. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
A dovish Bank of Japan, which held off from any changes to its bond-buying programme, boosted Japanese stocks and weakened the yen. Other indices in Asia were weaker, as markets mulled over the outlook for the global economy. It caps a week where markets priced in at least two rate cuts from the Fed as US inflation shows signs of easing, though the Fed remains cautious. European automakers are in the spotlight after the EU imposed tariffs on Chinese EV imports, labelled protectionist by Beijing. Tesla shareholders approved Elon Musk's $56 billion pay package despite opposition from some big investors, showing his support among retail investors. Both the S&P 500 and the Nasdaq 100 have hit fresh highs this week, though the Dow continues to struggle. -
By tradinglounge · Posted
USDJPY Elliott Wave Analysis Trading Lounge Day Chart, U.S.Dollar/Japanese Yen (USD/JPY) Day Chart USD/JPY Elliott Wave Technical Analysis FUNCTION: Trend MODE: corrective STRUCTURE: orange wave Y POSITION:Navy blue wave 2 DIRECTION NEXT LOWER DEGREES: Navy blue wave 3 DETAILS orange wave X of navy blue wave 2 looking completed, now orange wave Y of 2 is in play. Wave Cancel invalid level: 160.244 The USD/JPY Elliott Wave analysis on the daily chart focuses on identifying the trend within the market's current corrective phase. The primary function of this analysis is to follow the market trend while recognizing the corrective patterns that emerge during this period. The wave structure is categorized as orange wave Y, which is part of a larger navy blue wave 2. This indicates that the market is in the second corrective phase within a broader trend cycle. The mode of the analysis is corrective, highlighting that the market is undergoing adjustments rather than a straightforward upward or downward trend. The corrective phase is identified as orange wave Y, following the completion of orange wave X within the navy blue wave 2. This positioning suggests that the market is transitioning through the second corrective phase, which is crucial for understanding future price movements. In terms of wave direction and degrees, the analysis indicates that the next lower degree is navy blue wave 3. This points to the expectation that once the current corrective phase within orange wave Y is complete, the market will transition into navy blue wave 3. This transition marks a shift from the current corrective phase to a new wave cycle, potentially initiating a new trend direction. Detailed observations in the analysis note that orange wave X of navy blue wave 2 appears to be completed. This completion signifies that the market has finished one part of the correction and has now moved into orange wave Y. This ongoing phase will continue the corrective trend before the market potentially transitions into navy blue wave 3. An essential aspect of this analysis is the wave cancel invalid level, set at 160.244. This level acts as a critical threshold for validating the current wave structure. If the market price exceeds this level, the existing wave count would be invalidated, necessitating a reevaluation of the Elliott Wave analysis and possibly altering the market outlook. In summary, the USD/JPY daily chart analysis indicates that the market is in a corrective phase within orange wave Y, which is part of navy blue wave 2. The completion of orange wave X suggests that orange wave Y is now active, continuing the corrective trend. The wave cancel invalid level at 160.244 is pivotal for confirming the current wave count and guiding future market expectations based on Elliott Wave principles. U.S.Dollar/Japanese Yen (USD/JPY) 4 Hour Chart USD/JPY Elliott Wave Technical Analysis FUNCTION: Trend MODE: corrective STRUCTURE: orange wave Y POSITION:Navy blue wave 2 DIRECTION NEXT LOWER DEGREES: orange wave 1 of 3 DETAILS orange wave X of navy blue wave 2 looking completed, now orange wave Y of 2 is in play. Wave Cancel invalid level: 160.244 The USD/JPY Elliott Wave analysis on the 4-hour chart focuses on identifying and tracking the trend within the market using a corrective mode. The current wave structure is classified as orange wave Y, positioned within the broader context of navy blue wave 2. This indicates that the market is undergoing a corrective phase as part of the overall wave pattern. The primary function of this analysis is to observe and interpret the trend behavior in the USD/JPY market. The corrective mode signifies that the market is currently experiencing an adjustment or retracement within the larger trend. Specifically, orange wave Y is in play, indicating an ongoing correction within the framework of navy blue wave 2. The direction for the next lower degrees is identified as orange wave 1 of 3. This suggests that once the current corrective phase in orange wave Y is complete, the market is expected to transition into the next phase, known as orange wave 1 of 3. This phase will likely mark the beginning of a new trend sequence following the completion of the current correction. Detailed observations in the analysis indicate that orange wave X of navy blue wave 2 appears to be completed. This means that the market has likely finished the preceding corrective phase and is now moving into orange wave Y of 2. This ongoing wave will continue the corrective pattern within the broader navy blue wave 2 context. An important aspect of this analysis is the wave cancel invalid level, set at 160.244. This level serves as a critical point for maintaining the validity of the current wave structure. If the market price exceeds this level, the current wave count would be invalidated, necessitating a reassessment of the Elliott Wave analysis and potentially altering the market outlook. In summary, the USD/JPY 4-hour chart analysis indicates that the market is currently in a corrective phase within orange wave Y, which is part of the larger navy blue wave 2. Once orange wave Y is complete, the market is expected to transition into orange wave 1 of 3, initiating a new trend sequence. The wave cancel invalid level at 160.244 is crucial for confirming the current wave count and guiding future market expectations based on Elliott Wave principles. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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