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    • S&P 500 Elliott Wave Analysis - Daily Chart S&P 500 Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Orange Wave 4 Position: Navy Blue Wave 5 Next Higher Degree Direction: Orange Wave 5 Details: Orange Wave 3 completed at 5680.49, now in Orange Wave 4 of 5. Wave Cancel Invalid Level: 5125.98 The S&P 500 Elliott Wave Analysis on the daily chart offers a technical view of the market using Elliott Wave Theory. The current market movement is identified as a counter trend, indicating a correction against the primary trend. This corrective phase signifies that the market is experiencing a series of waves moving against the primary trend. Specifically, the structure identified is Orange Wave 4, a corrective wave within a larger impulsive sequence. This wave typically represents a temporary retracement before the market resumes its primary trend direction. Within this structure, the current position is Navy Blue Wave 5. This indicates that the market is in the final wave of a smaller degree within the larger Orange Wave 4. Navy Blue Wave 5 is crucial as it completes the corrective phase before transitioning into the next impulsive wave. The direction for the next higher degrees is indicated as Orange Wave 5, the final wave in the larger degree impulsive sequence. This wave typically follows the completion of the corrective wave and signifies a resumption of the primary trend direction. According to the analysis, Orange Wave 3 appears to have completed at the level of 5680.49. This completion marks the end of the previous impulsive phase. Now, Orange Wave 4 of 5 is in play, indicating that the market is currently in the midst of the corrective phase before the final impulsive wave begins. The wave cancel invalid level is set at 5125.98. If the market reaches this level, the current wave count and analysis would be invalidated. This level serves as a critical point for reassessing the wave structure. Summary: The S&P 500 daily chart analysis shows the market is in a corrective phase, currently in Orange Wave 4 with the position at Navy Blue Wave 5. The next expected phase is Orange Wave 5, following the completion of the current corrective wave. Orange Wave 3 has been completed, and now Orange Wave 4 of 5 is in play. The wave cancel invalid level is set at 5125.98, providing a crucial point for reassessment if reached.   S&P 500 Elliott Wave Analysis - Weekly Chart S&P 500 Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Navy Blue Wave 5 Position: Gray Wave 3 Next Lower Degree Direction: Gray Wave 4 Details: Navy Blue Wave 4 completed, now Navy Blue Wave 5 of 3 is in play. The S&P 500 Elliott Wave Analysis on the weekly chart provides an in-depth look at market trends using Elliott Wave Theory. The market movement is identified as a trend, indicating a primary directional trend rather than a correction. This movement is classified as impulsive, suggesting a strong and directional move. The specific structure identified is Navy Blue Wave 5, part of an impulsive sequence within the Elliott Wave framework. Impulsive waves typically consist of five sub-waves moving in the overall trend direction. Currently, the market position is within Gray Wave 3. This indicates that the market is in the third wave of a higher degree impulsive sequence. Gray Wave 3 is crucial as it is typically the most powerful and extended wave in an impulsive sequence, characterized by strong market moves. The direction for the next lower degrees is indicated as Gray Wave 4. Gray Wave 4 will follow the completion of Gray Wave 3 and will represent a corrective phase within the larger impulsive sequence. This wave typically serves as a retracement before the market resumes its primary trend in the fifth wave. According to the analysis, Navy Blue Wave 4 appears to be completed. This completion marks the end of the previous corrective phase. Now, Navy Blue Wave 5 of 3 is in play, indicating that the market is currently in the final wave of the third impulsive sequence. Navy Blue Wave 5 is essential as it completes the overall impulsive phase before transitioning into the next corrective phase, which will be Gray Wave 4. Summary: The S&P 500 weekly chart analysis shows the market is in an impulsive phase, currently in Navy Blue Wave 5 within Gray Wave 3. The next expected phase is Gray Wave 4, which will follow the completion of the current impulsive wave. The analysis suggests that Navy Blue Wave 4 has been completed, and now Navy Blue Wave 5 of 3 is in play, indicating a continuation of the primary trend.   Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!  
    • Dear @NicusX, Thank you for your post and welcome to the IG community. Please note the following: 1. Manual currency conversion settings allow you to hold multi-currencies within a share dealing account, meaning that any currency deposited will not be converted. For withdrawals, you can only add one banking details per client, the second banking details will have to be added manually by our payments team and all payments to that bank account will also have to be manually processed by payments ops. 2. Please note that you can only trade ETFs available on the platform. Also, note that retail traders cannot trade US ETFs due to the PRIIPS regulation. Holding or selling existing positions remains possible, however, it is not possible to purchase or expand your holding in these ETFs. 3. Most US ETFs on the screener cannot be traded on a retail account due to the PRIIPS regulation. Thanks, KoketsoIG
    • AUDJPY Elliott Wave Analysis - Daily Chart AUDJPY Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Navy Blue Wave 1 POSITION: Gray Wave 1 DIRECTION NEXT HIGHER DEGREES: Navy Blue Wave 2 Details: Current Status: Orange wave Y looks completed. Now, Navy blue wave 1 of 1 as a new trend is in play. Wave Cancel Invalid Level: 109.360 The AUDJPY Elliott Wave Analysis on the daily chart provides a comprehensive technical outlook on the Australian Dollar versus the Japanese Yen using Elliott Wave Theory. Function: The current market movement is identified as a trend, indicating a directional move in the market. Mode: This trend is classified as impulsive, signifying strong directional waves characteristic of Elliott Wave impulsive sequences. Structure: The specific structure identified is navy blue wave 1, indicating the market is in the first wave of a larger impulsive movement. This wave is crucial as it sets the foundation for the subsequent waves in the impulsive sequence. Position: The current position is gray wave 1, suggesting the market is at the beginning of the initial wave of a smaller degree (gray wave) within the larger navy blue wave 1. This wave marks the start of a new trend and is an essential phase in the overall wave progression. Next Higher Degrees Direction: The analysis points to the development of navy blue wave 2 as the direction for the next higher degrees. Navy blue wave 2 represents a corrective phase typically following the initial impulsive wave, indicating a temporary retracement against the primary trend before resuming the larger impulsive movement. According to the analysis, orange wave Y appears to have been completed, meaning the preceding corrective phase has ended. Now, navy blue wave 1 of 1 is in play, indicating that the market has entered a new impulsive trend. This wave marks the beginning of a significant directional move in the market. The wave cancel invalid level is set at 109.360. If the market reaches this level, the current wave count and analysis would be invalidated. This level serves as a critical point for reevaluating the wave structure. Summary: The AUDJPY daily chart analysis shows the market is in an impulsive trend, currently in navy blue wave 1, with the position at gray wave 1. The next expected phase is navy blue wave 2, following the completion of the current impulsive wave. The analysis suggests the market has completed orange wave Y and is now progressing through navy blue wave 1 of 1 as a new trend. The wave cancel invalid level is set at 109.360, providing a crucial point for reassessment if reached.   AUDJPY Elliott Wave Analysis - 4 Hour Chart AUDJPY Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Orange Wave 3 POSITION: Navy Blue Wave 1 DIRECTION NEXT HIGHER DEGREES: Orange Wave 4 Details: Current Status: Orange wave 2 appears completed. Now, orange wave 3 is in play. Wave Cancel Invalid Level: 109.360 The AUDJPY Elliott Wave Analysis on the 4-hour chart offers an in-depth technical perspective on the Australian Dollar versus the Japanese Yen using Elliott Wave Theory. Function: The current market movement is identified as a trend, indicating a consistent directional move. Mode: This trend is classified as impulsive, meaning the market is experiencing strong, directional waves typical of an Elliott Wave impulse sequence, which generally consists of five waves. Structure: The specific structure identified is orange wave 3. This suggests that the market is in the third wave of an impulsive phase, often the strongest and most significant wave in the Elliott Wave sequence. Position: The position within this structure is at navy blue wave 1, indicating that the market has just started the first wave of a larger degree (navy blue wave) within the orange wave 3. This initial wave sets the stage for subsequent waves within the larger impulsive movement. Next Higher Degrees Direction: The analysis points to the development of orange wave 4 after the completion of orange wave 3. Orange wave 4 represents a corrective phase, typically a temporary retracement against the primary trend before resuming the larger impulsive movement. According to the analysis, orange wave 2 appears to have been completed, meaning the corrective phase that preceded the current impulsive move has ended. Now, orange wave 3 is in play, indicating that the market is currently in the middle of this strong, directional wave. The wave cancel invalid level is set at 109.360. If the market reaches this level, the current wave count and analysis would be invalidated. This level serves as a critical point for reevaluating the wave structure. Summary: The AUDJPY 4-hour chart analysis shows that the market is in an impulsive trend, currently in orange wave 3, with the position at navy blue wave 1. The next expected phase is orange wave 4, following the completion of orange wave 3. The analysis suggests the market has completed orange wave 2 and is now progressing through the significant orange wave 3. The wave cancel invalid level is set at 109.360, providing a critical point for reassessment if reached.   Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!  
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