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By tradinglounge · Posted
Hang Seng Index Elliott Wave Analysis Trading Lounge Day Chart Hang Seng Index Elliott Wave Technical Analysis FUNCTION: Trend MODE: Corrective STRUCTURE: Orange wave 2 POSITION: Navy blue wave 3 DIRECTION NEXT HIGHER DEGREES: Orange wave 3 DETAILS: Orange wave 2 still in play, nearing end. Orange wave 3 will start next. Wave Cancel Invalid Level: 16044.39 The Hang Seng Index Elliott Wave analysis on the daily chart indicates the market is currently in a corrective trend. This mode suggests a temporary reversal or correction rather than a continuation of the primary trend. Structure Analysis Current Structure: Orange wave 2 In Elliott Wave Theory, wave 2 typically follows the initial impulse wave (wave 1). It usually retraces a significant portion of wave 1, setting the stage for wave 3. Current Position: Navy blue wave 3 Indicates the market is expected to enter the third wave of the larger degree navy blue wave sequence. Wave 3 in any degree is typically the most powerful and provides significant directional movement in the trend's direction. Direction for Higher Degrees Next Higher Degree: Orange wave 3 After the completion of the current orange wave 2, the market is anticipated to start a strong upward movement as part of orange wave 3. Wave 3 is known for its strength and is often the most extended wave in the Elliott Wave cycle. Current Status Orange wave 2: Nearing its end This implies the corrective phase is almost complete, and the market is preparing to transition into orange wave 3, which will be an impulse wave moving in the direction of the primary trend. Critical Level Wave Cancel Invalid Level: 16044.39 This level serves as a critical point; if the market moves beyond this level, the current wave count would be invalidated, necessitating a reevaluation of the wave structure. Summary The Hang Seng Index on the daily chart is in a corrective phase within orange wave 2. This wave is nearing completion, and the market is expected to start orange wave 3, indicating a strong upward movement. The wave cancel invalid level is 16044.39, beyond which the current analysis would need to be reassessed. Hang Seng Index Elliott Wave Analysis Trading Lounge Weekly Chart Hang Seng Index Elliott Wave Technical Analysis FUNCTION: Trend MODE: Corrective STRUCTURE: Orange wave 2 POSITION: Navy blue wave 3 DIRECTION NEXT HIGHER DEGREES: Orange wave 3 DETAILS: Orange wave 2 still in play, nearing end. Orange wave 3 will start next. Wave Cancel Invalid Level: 16044.39 The Hang Seng Index Elliott Wave analysis on the weekly chart indicates the market is currently in a corrective trend. This mode suggests a temporary reversal or correction rather than a continuation of the primary trend. Structure Analysis Current Structure: Orange wave 2 In Elliott Wave Theory, wave 2 typically follows the initial impulse wave (wave 1). It usually retraces a significant portion of wave 1, setting the stage for wave 3. Current Position: Navy blue wave 3 Indicates the market is expected to enter the third wave of the larger degree navy blue wave sequence. Wave 3 in any degree is typically the most powerful and provides significant directional movement in the trend's direction. Direction for Higher Degrees Next Higher Degree: Orange wave 3 After the completion of the current orange wave 2, the market is anticipated to start a strong upward movement as part of orange wave 3. Wave 3 is known for its strength and is often the most extended wave in the Elliott Wave cycle. Current Status Orange wave 2: Nearing its end This implies the corrective phase is almost complete, and the market is preparing to transition into orange wave 3, which will be an impulse wave moving in the direction of the primary trend. Critical Level Wave Cancel Invalid Level: 16044.39 This level serves as a critical point; if the market moves beyond this level, the current wave count would be invalidated, necessitating a reevaluation of the wave structure. Summary The Hang Seng Index on the weekly chart is in a corrective phase within orange wave 2. This wave is nearing completion, and the market is expected to start orange wave 3, indicating a strong upward movement. The wave cancel invalid level is 16044.39, beyond which the current analysis would need to be reassessed. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
AUDJPY Elliott Wave Analysis Australian Dollar / Japanese Yen (AUDJPY) Day Chart Analysis AUDJPY Elliott Wave Technical Analysis Function: Counter Trend Mode: Impulsive Structure: Orange Wave 5 Position: Navy Blue Wave 5 of C Direction Next Lower Degrees: Orange Wave 1 of New Bearish Trend Details: The analysis identifies orange wave 4 of 5 as completed, with orange wave 5 of 5 currently in play and nearing its end. The Elliott Wave analysis for the Australian Dollar / Japanese Yen (AUDJPY) daily chart indicates a counter-trend function, suggesting the market is moving in a direction opposite to the primary trend, implying a phase of correction or temporary reversal. The current market mode is impulsive, meaning the waves move strongly in the direction of the trend, comprising five waves. This indicates a strong push opposite to the main trend. The identified structure is orange wave 5, which in Elliott Wave Theory, represents the final wave of a five-wave sequence. This wave typically marks the last push in the counter-trend direction before a reversal or significant correction begins. The position within this structure is navy blue wave 5 of C, indicating the market is in the fifth wave of a larger corrective wave C. Wave C typically concludes an ABC corrective pattern, which follows a five-three-five structure. The direction for the next lower degrees is identified as orange wave 1 of a new bearish trend. This suggests that after completing the current orange wave 5, the market will start a new downward trend, beginning with orange wave 1. According to the analysis, orange wave 4 of 5 appears completed. This implies that the fourth wave in the sequence has finished, and the market is now in orange wave 5 of 5. Orange wave 5 of 5 is currently in play and is expected to end soon, signaling the conclusion of the counter-trend movement. Summary: The AUDJPY daily chart analysis shows the market in a counter-trend function with an impulsive mode. The current structure is orange wave 5, positioned as navy blue wave 5 of C. The market is anticipated to move into orange wave 1 of a new bearish trend following the completion of orange wave 5 of 5. The analysis indicates that orange wave 4 of 5 is complete, and orange wave 5 of 5 is nearing its end. AUDJPY Elliott Wave Analysis Australian Dollar / Japanese Yen (AUDJPY) 4-Hour Chart Analysis AUDJPY Elliott Wave Technical Analysis Function: Trend Mode: Corrective Structure: Gray Wave 4 Position: Orange Wave 5 Direction Next Higher Degrees: Gray Wave 5 Details: Gray wave 3 of 5 appears completed. Gray wave 4 of 5 is in play. Wave cancel invalid level: 104.806. The Elliott Wave analysis for the Australian Dollar / Japanese Yen (AUDJPY) on the 4-hour chart identifies the market's function as trending, meaning price movements follow a discernible directional pattern. The current market mode is corrective, indicating a phase of consolidation or correction following a previous impulsive move. Corrective waves typically move against the main trend and are often more complex. The identified structure is gray wave 4, which, according to Elliott Wave Theory, represents the fourth corrective wave of a larger five-wave sequence. This wave usually moves against the established trend, indicating a period of consolidation or retracement. The position within this structure is orange wave 5, suggesting the market is preparing to enter or is already in the final wave of the larger sequence. Orange wave 5 typically follows the completion of gray wave 4, marking a final push in the main trend's direction before a larger correction or reversal. The direction for the next higher degrees is identified as gray wave 5, indicating that once gray wave 4 completes, the market will move into gray wave 5, likely an impulsive move in the primary trend's direction. According to the analysis, gray wave 3 of 5 appears completed, implying the third wave in the sequence has finished, and the market is now in gray wave 4 of 5. Gray wave 4 is a corrective phase, suggesting potential consolidation or retracement before the final wave (gray wave 5) begins. The wave cancel invalid level is set at 104.806. This level is crucial for validating the current wave structure. If the market moves below this level, the current wave count would be invalidated, necessitating a reevaluation of the wave analysis. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
Asian stock markets were led higher by Japanese equities, with the country's Topix benchmark rising 1%. This increase pushed the index's year-to-date gains above 20%. The surge was primarily driven by high-end manufacturing companies specialising in precision tooling and optical equipment. In Hong Kong, the Hang Seng index saw a modest increase of 0.5%. A subindex tracking mainland Chinese property developers listed in Hong Kong performed particularly well, climbing more than 3%. Candidates in the second round of French elections must decide by the end of the day whether to continue the contest, with many of those coming third likely to drop out and support candidates from rival parties in a bid to stop the Far Right from gaining a majority in the National Assembly. Eurozone inflation figures are the main economic release today, while Fed chairman Jerome Powell will speak at the ECB's banking forum in Portugal. Futures are subdued across the board, after Monday's session ended with small gains in the US.
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