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By tradinglounge · Posted
NVDA Elliott Wave Analysis Trading Lounge Daily Chart, NVIDIA Corp., (NVDA) Daily Chart NVDA Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minute {v}. DIRECTION: Upside in {v} of 1. DETAILS: Equality of {v} vs. {i} stands at 972$, looking for resistance on top of TL1 at 1000$. NVDA Elliott Wave Analysis Trading Lounge 4Hr Chart, NVIDIA Corp., (NVDA) 4Hr Chart NVDA Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (v) of {v}. DIRECTION: Upside in (v) DETAILS: We seem to be bullish corrective, meaning we should expect further upside. I would start expecting some resistance on the next move up in potential wave (v). Welcome to our latest Elliott Wave analysis for NVIDIA Corp. (NVDA). This analysis provides a comprehensive look at NVDA's price movements using the Elliott Wave Theory, highlighting potential trading opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a well-rounded perspective on NVDA's market behavior. * NVDA Elliott Wave Technical Analysis – Daily Chart* In our Elliott Wave analysis of NVIDIA Corp. (NVDA), we observe a strong upward trend characterized by an impulsive structure. NVDA is currently positioned in Minute wave {v} of 1, indicating a continued bullish movement. We are targeting an upside move where the equality of {v} vs. {i} stands at $972, with resistance anticipated at Trading Level 1 (TL1) around $1000. Traders should be mindful of potential resistance at this level, which could signal a temporary pause or correction. * NVDA Elliott Wave Technical Analysis – 4Hr Chart* On the 4-hour chart, NVDA is also following an impulsive mode within a motive structure, specifically in wave (v) of {v}. The current analysis suggests a bullish corrective move, implying further upside potential. As NVDA progresses, we anticipate some resistance on the next upward move in wave (v). This resistance could offer strategic entry points for long positions or opportunities to manage existing trades effectively. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
Dear @tintin, Thank you for you are correct in your first paragraph. Please take note of the following: - On the manual settings, any AUD you deposit will remain AUD, you will have to convert the funds to USD from the settings once they are in your account. You can do this from Live accounts > Currency conversion or you can ask our payment operations team to do it on your behalf. - On the manual settings, the funds will not be converted but will remain in USD in your account. - Manual settings allow you to hold multiple currencies, you can choose to have some of your AUD deposited converted to USD so that they will be used for all USD trades. You can do this on live accounts > currency conversion as mentioned above. Thanks, KoketsoIG
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By tradinglounge · Posted
IBEX 35 (Spain) Elliott Wave Analysis Trading Lounge Day Chart, IBEX 35 (Spain) Elliott Wave Technical Analysis FUNCTION: Trend MODE:impulsive STRUCTURE:red wave 5 POSITION: blue wave 3 DIRECTION NEXT LOWER DEGREES: blue wave 4 DETAILS:red wave 4 looking completed at 476. Now red wave 5 of 3 is in play. Wave Cancel invalid level: 4508 The IBEX 35 Elliott Wave analysis on the daily chart offers insights into the current market trend and its anticipated movements, employing the Elliott Wave theory. This analysis is designed to identify the prevailing trend, which is classified as impulsive. An impulsive trend signifies robust directional movements, characterized by significant price changes that follow the primary market direction. The focal structure in this analysis is red wave 5, a critical component of the impulsive wave cycle. Within this larger wave structure, the market is positioned in blue wave 3, indicating an ongoing phase of strong market activity. Blue wave 3 is typically associated with substantial price movements and is a key part of the impulsive wave sequence. Looking forward, the analysis suggests that blue wave 4 is the next direction for the lower degrees. This wave will come after the completion of blue wave 3 and generally involves a corrective phase where the market consolidates recent price movements before resuming the primary trend. The details provided in the analysis highlight that red wave 4 appears to be completed at a specific price level of 4761. This completion indicates that the market is now in the phase of red wave 5 of blue wave 3, suggesting continued strong market activity as part of the broader impulsive wave structure. A critical component of this analysis is the wave cancel invalid level, set at a particular price point of 4508. If the market price falls below this level, it would invalidate the current wave count, necessitating a reassessment of the Elliott Wave structure. This invalidation level is crucial for confirming the accuracy of the wave pattern and the projected market direction. In summary, the IBEX 35 is currently in an impulsive trend on the daily chart, situated within the third wave of the red wave 5 sequence. The market has completed red wave 4 and is now progressing through red wave 5 of blue wave 3. Monitoring the invalidation level is essential to validate the current wave count and accurately predict future market movements. IBEX 35 (Spain) Elliott Wave Analysis Trading Lounge Weekly Chart, IBEX 35 (Spain) Elliott Wave Technical Analysis FUNCTION: Trend MODE:impulsive STRUCTURE: blue wave 3 POSITION:black wave 3 DIRECTION NEXT LOWER DEGREES: blue wave DETAILS:blue wave 3 still is in play , after that blue wave 4 expected. Wave Cancel invalid level: 4508 The IBEX 35 Elliott Wave analysis on the weekly chart provides a detailed examination of the current trend using the Elliott Wave theory. This analysis identifies the prevailing trend as impulsive, indicating strong and consistent directional market movements. Impulsive trends are characterized by clear, sharp price movements that follow the primary market direction. The primary structure under consideration is blue wave 3, which is part of a larger impulsive wave sequence. Within this context, the market is currently positioned in black wave 3. This wave represents a significant phase of the impulsive cycle, typically associated with substantial price advances and strong market activity. Looking ahead, the analysis suggests that blue wave 4 is the next expected movement in the lower degrees of the wave structure. Blue wave 4 usually follows the completion of blue wave 3 and involves a corrective phase where the market consolidates recent gains before continuing the primary trend. The details provided in the analysis emphasize that blue wave 3 is still actively unfolding, indicating ongoing strong market movements. Once blue wave 3 completes, the market is anticipated to enter blue wave 4, which will involve a period of correction and consolidation. A crucial aspect of this analysis is the wave cancel invalid level, set at 4508. This level serves as a critical threshold; if the market price drops below this point, it would invalidate the current wave count. This invalidation necessitates a reassessment of the wave structure and the market's projected direction. Monitoring this level is essential to confirm the validity of the wave pattern and ensure accurate market predictions. In summary, the IBEX 35 is currently in an impulsive trend on the weekly chart, situated within the third wave of blue wave 3. The market is expected to continue through blue wave 3 before transitioning to blue wave 4, a corrective phase. Keeping an eye on the invalidation level is crucial to validate the current wave count and ensure the accuracy of future market forecasts. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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