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By tradinglounge · Posted
EURGBP Elliott Wave Analysis Trading Lounge Day Chart Euro/British Pound (EURGBP) Day Chart EURGBP Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Impulsive STRUCTURE: Gray Wave 5 POSITION: Orange Wave C DIRECTION NEXT HIGHER DEGREES: New Uptrend Expected DETAILS: Gray Wave 4 of Orange Wave C appears completed, now Gray Wave 5 is in play. Wave Cancellation Invalid Level: 0.84782 The EURGBP Elliott Wave analysis on the day chart focuses on identifying a counter trend in the market using Elliott Wave principles. This analysis highlights an impulsive counter trend movement, indicating a strong and clear directional move. Key Observations: Market Structure: Currently identified as Gray Wave 5, suggesting the market is in the fifth wave of this sequence. According to Elliott Wave theory, the fifth wave is typically the final wave in the current trend direction before a reversal or significant correction. Current Position: Orange Wave C, indicating progression within a larger sequence, specifically the C wave of the orange wave. The C wave is part of a corrective phase, leading to the completion of the larger wave sequence. Next Higher Degrees: A new uptrend is expected after the current wave completes, suggesting the market is nearing the end of its current wave sequence and likely to reverse and start a new upward trend. Detailed Observations: Gray Wave 4 of Orange Wave C appears to be completed, transitioning into Gray Wave 5. This phase is crucial as it often represents the last push in the current trend before a major reversal or significant correction. Wave Cancellation Invalid Level: Set at 0.84782, this level acts as a threshold for validating the current wave count. If the market price moves beyond this level, it invalidates the existing wave structure, necessitating a reassessment of the Elliott Wave count and potentially altering the market outlook. Summary: The EURGBP day chart analysis identifies a counter trend within Gray Wave 5, currently positioned at Orange Wave C. The completion of Gray Wave 4 signals the beginning of Gray Wave 5, with the expectation of a new uptrend following this phase. The wave cancellation invalid level at 0.84782 serves as a crucial validation point for the current wave structure. EURGBP Elliott Wave Analysis Trading Lounge 4 Hour Chart Euro/British Pound (EURGBP) 4 Hour Chart EURGBP Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Impulsive STRUCTURE: Gray Wave 5 POSITION: Orange Wave C DIRECTION NEXT LOWER DEGREES: Gray Wave 5 (Continue) DETAILS: Gray Wave 4 of Orange Wave C appears completed, now Gray Wave 5 is in play. Wave Cancellation Invalid Level: 0.84782 The EURGBP Elliott Wave analysis on the 4-hour chart focuses on identifying the counter trend in the market using Elliott Wave principles. This analysis highlights an impulsive counter trend movement, indicating a strong and clear directional move. Key Observations: Market Structure: Currently identified as Gray Wave 5, suggesting the market is in the fifth wave of this sequence. According to Elliott Wave theory, the fifth wave is typically the final wave in the current trend direction before a reversal or significant correction. Current Position: Orange Wave C, indicating progression within a larger sequence, specifically the C wave of the orange wave. The C wave is part of a corrective phase, leading to the completion of the larger wave sequence. Next Lower Degrees: After the completion of the current wave, the market is expected to continue into Gray Wave 5. This represents the continuation and potentially the final leg of the current impulsive movement, suggesting the market is nearing the end of its current wave sequence. Detailed Observations: Gray Wave 4 of Orange Wave C appears completed, transitioning into Gray Wave 5. This phase is crucial as it often represents the last push in the current trend before a major reversal or significant correction. Wave Cancellation Invalid Level: Set at 0.84782, this level acts as a threshold for validating the current wave count. If the market price moves beyond this level, it invalidates the existing wave structure, necessitating a reassessment of the Elliott Wave count and potentially altering the market outlook. Summary: The EURGBP 4-hour chart analysis identifies a counter trend within Gray Wave 5, currently positioned at Orange Wave C. The completion of Gray Wave 4 signals the beginning of Gray Wave 5, with the wave cancellation invalid level at 0.84782 serving as a crucial validation point for the current wave structure. Technical Analyst : Malik Awais Source : TradingLounge.com get trial here! -
By tradinglounge · Posted
ASX: V300AEQ ETF UNITS – VAS Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We see that wave 2-grey has ended and wave 3-grey is unfolding to push higher, sub waves are developing in the form of wave ((i)),((ii))-navy and have ended, Wave ((iii))-navy may be unfolding to push higher. ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis 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: The short-term outlook shows that wave ((ii))-navy has just ended and it seems that wave ((iii))-navy is opening to push higher, while price must always maintain above 94.64 to maintain this outlook. Invalidation point: 94.64 ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis ASX: V300AEQ ETF UNITS – VAS 4-Hour Chart Analysis Function: Major trend (Minute degree, navy) Mode: Motive Structure: Impulse Position: Wave c-grey of Wave (ii)-orange of Wave ((iii))-navy Details: The shorter term outlook shows that wave ((i))-navy has just ended at 94.64 and wave ((iii))-navy is unfolding, it is subdividing into wave (i)-orange and it's over, now it's time for wave (ii)-orange to open up to push a little lower, after which wave (iii)-orange can return to push higher. Invalidation point: 94.64 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! -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, NEO/ U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Double Corrective Position: Wave Y Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level NEO/ U.S. dollar(NEOUSD)Trading Strategy: Wave Y declines, which is the last wave in the double corrective pattern before prices re-enter the uptrend. We expect that Wave Y may have ended at the 10.30 level, so look for an opportunity to join the uptrend again. NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H4 Chart, NEO/ U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Double Corrective Position: Wave Y Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level Wave Y declines, which is the last wave in the double corrective pattern before prices re-enter the uptrend. We expect that Wave Y may have ended at the 10.30 level, so look for an opportunity to join the uptrend again. NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!
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