keep getting message "you cannot currently "buy to open" on this market. Demo account
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10/06/21 10:53
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Stocks in Asia went through another mixed session, with losses led by the Nikkei and Hang Seng, though the ASX 200 ended the day only slightly lower. Stocks continue to fall as yields rise, while Evergrande worries returned as shares of the developer were halted following reports its chairman had been taken away by police earlier in the month. The US Senate is expected to vote this afternoon (UK time) on a bill to avoid the government shutdown, but with markets still expecting higher rates for longer (and positive economic news only adding to this view) it seems that a resolution of the government shutdown will be a minor event. Weekly US jobless claims and pending home sales this afternoon are followed by a speech from Jerome Powell this evening. -
over the 50% retrace -
By tradinglounge · Posted
USDCHF Elliott Wave Analysis Trading Lounge Day Chart, 28 September 23 U.S.Dollar/Swiss Franc(USDCHF) Day Chart USDCHF Elliott Wave Technical Analysis Function: Trend Mode: impulsive Structure: blue wave 3 of 1 Position: New Black Wave 1 Direction Next lower Degrees: wave 4 of 1 Details: blue wave 3 in play and near to end,after that blue corrective wave 4 will start. Wave Cancel invalid level: 0.88767 The USD/CHF Elliott Wave Analysis on 28 September 23, focuses on the daily chart of the U.S. Dollar/Swiss Franc (USD/CHF) currency pair, applying Elliott Wave theory to analyze potential market trends and price movements. The analysis identifies its Function as "Trend," indicating a primary interest in identifying and interpreting market movements that align with the prevailing trend. In this context, the emphasis is on capturing potential impulsive moves that follow the dominant market direction. The Mode is described as "impulsive," suggesting an expectation of strong and decisive price movement. This implies anticipation of significant and directional price shifts, characteristic of impulsive waves. The Market Structure is characterized as "blue wave 3 of 1," highlighting the importance of wave 3 within a broader Wave 1 structure. This indicates that the analysis is primarily focused on understanding the development of this specific wave within the larger Elliott Wave framework. The Position specifies that the analysis pertains to the "New Black Wave 1," signaling the initiation of a new wave cycle. This suggests the potential for a bullish phase within the market. The Direction Next Lower Degrees points to "wave 4 of 1," signifying that the analysis is attentive to the ongoing development of the fourth sub-wave within the first wave of the new cycle. In the Details section, it is noted that "blue wave 3" is currently in progress and is approaching its potential conclusion. Following the completion of this wave, the analysis anticipates the commencement of "blue corrective wave 4." The "Wave Cancel invalid level" is specified as 0.88767, serving as a reference level for risk management and potential trade entry or exit points. In summary, the USD/CHF Elliott Wave Analysis on 28 September 23, suggests that the market is currently in a bullish trend, with a particular focus on the development of "blue wave 3" within this trend. Traders are advised to monitor the conclusion of this wave and prepare for the initiation of "blue corrective wave 4" as part of the broader wave structure. The specified invalid level serves as a reference point for managing trading risks.
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