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By tradinglounge · Posted
RUSSELL 2000 Elliott Wave Analysis Trading Lounge Day Chart RUSSELL 2000 Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Gray Wave 3 Position: Orange Wave 3 Direction Next Lower Degrees: Gray Wave 4 Details: Gray wave 2 appears complete, with gray wave 3 currently active. Wave Cancelation Invalid Level: 217.61 The Russell 2000 Day Chart, analyzed using the Elliott Wave technique, indicates a bullish trend in an impulsive mode. This trend is structured within gray wave 3, suggesting continued upward momentum. The current position, identified as orange wave 3 within the larger gray wave sequence, reinforces expectations of further gains in line with this bullish movement. The completion of gray wave 2 sets the stage for gray wave 3, which is now in progress. This configuration aligns with the Elliott Wave principle, which typically features impulsive waves driving trends forward through structured cycles. The next anticipated phase is gray wave 4, a corrective phase expected to follow the completion of gray wave 3. Until then, the upward trajectory of the trend is expected to persist. Key Level: The wave invalidation level for this analysis is 217.61. A decline below this level would invalidate the current wave structure and necessitate a reevaluation of the trend's direction. Remaining above 217.61, however, supports the validity of the current bullish interpretation and suggests continued upward movement. Conclusion: The Russell 2000 Day Chart, based on Elliott Wave analysis, reflects a bullish outlook characterized by an active gray wave 3 in an impulsive mode. The wave sequence suggests further gains, with 217.61 serving as a critical invalidation level for the current structure. As long as the index stays above this level, the primary expectation is for sustained upward momentum within the Elliott Wave framework. RUSSELL 2000 Elliott Wave Analysis Trading Lounge Weekly Chart RUSSELL 2000 Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Orange Wave 3 Position: Navy Blue Wave 3 Direction Next Lower Degrees: Orange Wave 4 Details: Orange wave 2 seems complete, with orange wave 3 currently active. Wave Cancelation Invalid Level: 217.61 The Russell 2000 Weekly Chart, interpreted through Elliott Wave analysis, highlights a bullish trend progressing in an impulsive mode. This wave structure focuses on orange wave 3, reflecting strong continuation within the current trend cycle. With orange wave 2 likely completed, orange wave 3 is now in play, suggesting further upward movement in line with the bullish outlook. The chart’s current position aligns with navy blue wave 3, which drives the broader orange wave 3 structure. According to Elliott Wave principles, the third wave in a five-wave impulsive sequence is often the most powerful, signifying robust upward momentum and strength in the prevailing trend. The next anticipated phase in the wave sequence is orange wave 4, which represents a potential corrective movement following the completion of orange wave 3. Until orange wave 3 concludes, the market is expected to maintain its bullish trajectory. Key Level: A wave invalidation level is set at 217.61. A decline below this threshold would invalidate the current wave count and necessitate a reassessment of the trend. Conversely, staying above 217.61 supports the bullish wave configuration and further upward movement. Conclusion: The Russell 2000 Weekly Chart reflects a bullish trend led by orange wave 3 within an impulsive mode, with navy blue wave 3 driving the structure. The analysis anticipates continued strength in the index, with 217.61 serving as the critical invalidation level for the current wave count. This setup points to ongoing bullish momentum, with future analysis contingent upon the completion of orange wave 3 before transitioning to the corrective orange wave 4 phase. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
EURGBP Elliott Wave Analysis Trading Lounge Euro/British Pound (EURGBP) Day Chart EURGBP Elliott Wave Technical Analysis Function: Bearish Trend Mode: Impulsive Structure: Orange Wave 1 Position: Navy Blue Wave 3 Direction Next Higher Degrees: Orange Wave 2 Details: Navy blue wave 2 appears complete, with orange wave 1 of navy blue wave 3 currently in motion. Wave Cancelation Invalid Level: 0.84490 The EURGBP Day Chart, based on Elliott Wave analysis, demonstrates a bearish trend with an impulsive wave structure. The current setup includes orange wave 1 within navy blue wave 3, indicating a continuation of the downward trajectory in line with the broader trend. The analysis highlights that navy blue wave 2 has likely concluded, leading to the development of orange wave 1 within navy blue wave 3. This formation fits a classic impulsive Elliott Wave structure, supporting the overall bearish outlook. Navy blue wave 3, as the current position within the larger wave pattern, underscores the downward momentum. The higher-degree direction aims for orange wave 2, which suggests that any upward movements are expected to be corrective and part of the larger bearish framework. Consequently, potential rallies may be short-lived and unlikely to signify a reversal of the bearish trend. Key Level: The invalidation level for the current wave structure is 0.84490. A move above this level would invalidate the current bearish count, necessitating a reassessment of the wave structure. Conversely, maintaining levels below 0.84490 supports the validity of the current Elliott Wave configuration and the bearish trend. Summary: The EURGBP Day Chart analysis points to a bearish trend driven by an impulsive orange wave 1 within navy blue wave 3. The expectation is for continued declines as part of the broader downward trend. Monitoring the invalidation level at 0.84490 is crucial for confirming the validity of the current structure, with the primary outlook remaining bearish as long as this level is not breached. Euro/British Pound (EURGBP) 4-Hour Chart EURGBP Elliott Wave Technical Analysis Function: Bearish Trend Mode: Impulsive Structure: Orange Wave 1 Position: Navy Blue Wave 3 Direction Next Higher Degrees: Orange Wave 2 Details: Navy blue wave 2 seems complete, with orange wave 1 of navy blue wave 3 currently unfolding. Wave Cancelation Invalid Level: 0.84490 The EURGBP 4-Hour Chart, interpreted through Elliott Wave analysis, reveals a bearish trend characterized by an impulsive wave structure. This setup shows that orange wave 1 has initiated within navy blue wave 3, suggesting continued downward momentum as the wave sequence progresses. The analysis indicates that navy blue wave 2 is likely completed, paving the way for orange wave 1 to move lower. This marks the beginning of navy blue wave 3’s downward phase, aligning with the impulsive nature of Elliott Wave patterns. These waves emphasize a directional trend that supports the broader market movement. The current position of navy blue wave 3 within the wave hierarchy confirms the bearish bias. The potential emergence of orange wave 2 in the near term indicates that any upward movements may serve as corrective phases rather than a shift in the primary trend. This structure reflects a continuation of the overall downward trajectory, reinforcing the bearish outlook. Key Level: The wave invalidation level is 0.84490. If prices rise above this level, the current bearish count would be invalidated, necessitating a reevaluation of the wave structure. Remaining below 0.84490, however, sustains the validity of the bearish wave count and supports continued declines within the impulsive wave framework. Summary: The EURGBP 4-Hour Chart analysis identifies a bearish trend driven by the impulsive orange wave 1 within navy blue wave 3. This wave progression points to further declines, with the invalidation level at 0.84490 serving as a critical threshold for maintaining the current wave structure. As long as this level holds, the dominant trend remains bearish. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
ASX: TRANSURBAN GROUP - TCL Elliott Elliott Wave Technical Analysis TradingLounge Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with TRANSURBAN GROUP - TCL. We see TCL.ASX about to enter a bull market with wave (iii)-orange. ASX: TRANSURBAN GROUP - TCL 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, grey) Mode: Motive Structure: Impulse Position: Wave (ii)-orange of Wave 3-grey Details: Wave (i)-orange has just completed, and wave (ii)-orange is unfolding to push lower as a Zigzag. Then wave (iii)-orange could return to push higher. A push above 13.10 would be the first step to show that wave (iii)-orange is unfolding. Invalidation point: 11.92 ASX: TRANSURBAN GROUP - TCL 4-Hour Chart Analysis Function: Major trend (Minuette degree, navy) Mode: Motive Structure: Impulse Position: Wave ((5))-navy of Wave c-grey of Wave (ii)-orange Details: Wave (i)-orange has finished as a five-wave, and wave (ii)-orange is developing as a zigzag labeled a,b,c-grey. Basically, wave a,b-grey has finished, and wave c-grey is also close to or has finished. The push above 13.00 is the first step to show that wave (iii)-orange is really unfolding to push higher. Invalidation point: 11.92 Key point: 13.00 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: TRANSURBAN GROUP - TCL 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! #TCL #ASX #Stocks #ElliottWave #TradingLounge
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