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By tradinglounge · Posted
TASI Index Elliott Wave Analysis Trading Lounge Day Chart TASI Index Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Gray Wave 2 Position: Orange Wave 3 Direction (Next Higher Degrees): Gray Wave 3 Details: Gray wave 1 completed, gray wave 2 is currently in play and nearing its end. Wave Cancel Invalid Level: 11320.635 The TASI Index Elliott Wave analysis on the day chart highlights a counter trend movement within a corrective phase. The current wave structure being analyzed is gray wave 2, following the completion of gray wave 1. According to the analysis, gray wave 2 is in progress and is expected to end soon, indicating that the corrective phase is approaching its conclusion. The mode of this analysis is corrective, signifying that the market is experiencing a pullback or consolidation following the impulsive movement of gray wave 1. The anticipated next move in the higher degree is gray wave 3, which would signal a transition from the current corrective trend to a new impulsive upward movement. This implies that, once gray wave 2 completes, the market might enter a more bullish phase with the beginning of gray wave 3. The wave cancel invalid level is set at 11320.635, meaning that if the price exceeds this level, the current wave count would be invalidated, and the analysis would need adjustment. As of now, the analysis indicates that the corrective phase is nearing its end, and a potential reversal or continuation of the trend might occur shortly. In summary, the TASI Index is in a corrective phase, with gray wave 2 progressing and expected to conclude soon. Following this, the market may shift toward a more bullish trend with gray wave 3. However, the current wave count remains valid as long as the price stays below 11320.635. TASI Index Elliott Wave Analysis Trading Lounge Weekly Chart TASI Index Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Orange Wave 3 (Started) Position: Navy Blue Wave 3 Direction (Next Lower Degrees): Orange Wave 4 Details: Orange wave 2 completed, orange wave 3 is currently in play. Wave Cancel Invalid Level: 11320.635 The TASI Index Elliott Wave analysis on the weekly chart shows a bullish trend with an impulsive movement. The wave structure currently under focus is orange wave 3, which has started following the completion of orange wave 2. The market is positioned in navy blue wave 3, which is part of the broader orange wave 3 structure. This analysis suggests that the market is continuing its upward momentum, confirming a strong bullish trend. Orange wave 3 is expected to continue pushing the market higher, in line with the impulsive nature of this phase. Once orange wave 3 concludes, the next phase, orange wave 4, will start, signifying a corrective phase. For now, however, the bullish trend remains intact as the market progresses within orange wave 3. The next lower degree wave, orange wave 4, is expected to follow the completion of the current impulsive phase, leading to a corrective movement. However, as long as the market is within orange wave 3, the bullish outlook is expected to persist. The wave cancel invalid level is set at 11320.635. If the price falls to this level, the current wave count would be invalidated, requiring a revision of the analysis. However, as long as the price stays above this level, the existing wave structure holds, and the bullish trend is likely to continue. In summary, the TASI Index is experiencing a bullish trend, with orange wave 3 in progress after the completion of orange wave 2. The market is expected to maintain its upward movement, and the current analysis remains valid as long as the price does not fall below 11320.635. Once the impulsive phase concludes, orange wave 4 will begin, initiating a corrective phase. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By Cryptowarrior · Posted
Bearish trends in semiconductor stocks could impact AI-related cryptocurrencies like Fetch (FET) and Render (RNDR). These tokens rely on advancements in computing power and innovation, both tied to the semiconductor industry. A downturn in semiconductor stocks may reduce demand for these tokens. The Impact of Semiconductor Disruptions The semiconductor sector shows signs of trouble, with the SOXX Index ETF revealing a bearish pattern. A crash in semiconductor stocks could disrupt chip production, leading to delays in AI and machine learning advancements. This could affect the prices of Fetch (FET) and Render (RNDR). Recent Performance of Fetch (FET) and Render (RNDR) Despite the potential risks, Fetch (FET) and Render (RNDR) have recently experienced price surges. Fetch (FET) saw a 14.09% increase, reaching $1.30, while Render (RNDR) rose by 6.10% to $5.22, pushing its market capitalization over $2 billion as per coinpedia markets data . However, market analysts warn that these gains may be short-lived if the semiconductor industry continues to struggle. Reduced investor confidence in technology-related assets could lead to lower demand for these tokens, resulting in significant price declines. As the semiconductor industry faces potential disruptions, AI tokens like Fetch (FET) and Render (RNDR) could see their prices decline. The dependency on advancements in computing power makes these tokens vulnerable to shifts in the semiconductor market. Investors should closely monitor semiconductor stocks as their performance could directly influence the future of AI-related cryptocurrencies. -
By tradinglounge · Posted
USDJPY Elliott Wave Analysis Trading Lounge Day Chart, U.S. Dollar / Japanese Yen (USDJPY) Day Chart USDJPY Elliott Wave Technical Analysis FUNCTION: Bearish Trend MODE: Impulsive STRUCTURE: Orange wave 3 (in progress) POSITION: Navy blue wave 3 DIRECTION NEXT HIGHER DEGREE: Orange wave 4 DETAILS: The orange wave 2 appears to have completed, and now the orange wave 3 is unfolding. The wave invalidation level is 147.262. The USDJPY Elliott Wave analysis on the day chart identifies a bearish trend. The technical analysis mode is impulsive, indicating strong downward momentum. The structure being analyzed is orange wave 3, which has started, signaling a strengthening downtrend. Currently, the market is within navy blue wave 3, having progressed through earlier waves. Wave 3 is typically the most powerful and directional phase in an Elliott Wave pattern. The next higher-degree wave will likely be orange wave 4, which is expected to follow after wave 3 concludes. This points to a possible correction or consolidation once wave 3 finishes. The previous orange wave 2 is completed, and now the focus is on orange wave 3. The wave invalidation level is set at 147.262; if the price reaches this level, the wave count would be considered invalid, requiring a re-evaluation of the market structure. In summary, USDJPY is currently in a strong downward phase within an impulsive wave pattern, advancing through the third wave of the navy blue degree. The next important phase could be a corrective orange wave 4, but for now, attention remains on the unfolding orange wave 3, as long as the price does not exceed 147.262. U.S. Dollar / Japanese Yen (USDJPY) 4-Hour Chart USDJPY Elliott Wave Technical Analysis FUNCTION: Bearish Trend MODE: Impulsive STRUCTURE: Gray wave 3 POSITION: Orange wave 3 DIRECTION NEXT HIGHER DEGREE: Gray wave 4 DETAILS: The gray wave 2 appears to have completed, and now gray wave 3 is underway. The wave invalidation level is 147.262. The USDJPY Elliott Wave analysis on the 4-hour chart indicates a bearish trend. The analysis mode is impulsive, suggesting that the market is experiencing a strong downward movement. The structure currently tracked is gray wave 3, signaling the continuation of the bearish trend. Currently, the market is positioned within orange wave 3, which is part of the larger gray wave 3. This wave is typically marked by sharp price movements, reinforcing the bearish outlook. With gray wave 2 completed, gray wave 3 has started, indicating that the downtrend has gained momentum, and further downward movement is expected. The next higher-degree wave is gray wave 4, which will likely follow after the completion of gray wave 3. However, the focus remains on gray wave 3, as this is still driving market action. The downward momentum is expected to continue until the completion of wave 3, after which a potential corrective phase, gray wave 4, may emerge. A critical invalidation level is set at 147.262. If the price surpasses this level, the current bearish Elliott Wave structure would be invalidated, possibly signaling a weakening bearish trend. However, as long as the price remains below this level, the market is expected to maintain its downward trajectory. In conclusion, USDJPY is in a bearish trend, with gray wave 3 actively in progress. The completion of gray wave 2 suggests that the downward momentum is likely to continue, with the next significant phase being gray wave 4. The trend remains intact as long as the price stays below the invalidation level of 147.262. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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Question
Guest ADR648
Ever since last week my demo account charts are not updating properly with no candlesticks forming to represent the actual price action. IG has said this has been identified as a problem, but as it's approaching a week old I was wondering if there could be any update on when we can expect this to be fixed?
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