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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: Corrective Structure: Gray Wave 4 Position: Orange Wave 3 Direction Next Higher Degrees: Gray Wave 5 Details: Gray Wave 3 of 3 looks completed. Now, Gray Wave 4 as a correction is in play. Wave Cancel invalid level: 10283.74 The IBEX 35 Elliott Wave analysis on the daily chart provides a detailed view of the current market trend using Elliott Wave Theory. The analysis identifies the market as being in a trend within a corrective mode, indicating a corrective phase within the broader trend. The current market structure is gray wave 4, showing a corrective phase in the larger wave pattern. This suggests a temporary pullback or consolidation after a previous impulsive wave. The market is in orange wave 3, a sub-wave within the gray wave 4 structure, indicating a completed significant upward movement now in a corrective phase. The next higher degrees direction is focused on gray wave 5, indicating that after the current corrective phase, the market is expected to resume its upward trend. The analysis shows gray wave 3 of 3 is completed, marking the end of a significant impulsive phase. Now, gray wave 4 is acting as a correction. This corrective phase is crucial as it sets the stage for the next impulsive movement. The wave cancel invalid level, set at 10283.74, is a critical threshold. If breached, it would invalidate the current wave count and require a reevaluation of the Elliott Wave structure. Staying above this level is essential to maintain the current wave pattern's validity. In summary, the IBEX 35 daily chart analysis shows a trend within a corrective mode, with the market in gray wave 4 of orange wave 3. With gray wave 3 of 3 completed, the market is now in a corrective phase in gray wave 4. The wave cancellation invalid level at 10283.74 is pivotal for sustaining the current wave count and confirming the expected resumption of the upward trend towards gray wave 5. IBEX 35 (Spain) Elliott Wave Analysis Trading Lounge Weekly Chart IBEX 35 (Spain) Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Orange Wave 3 Position: Navy Blue Wave 3 Direction Next Lower Degrees: Orange Wave 4 Details: Orange Wave 3 of 3 is in play. Wave Cancel invalid level: 10283.74 The IBEX 35 Elliott Wave analysis on the weekly chart provides an in-depth view of the current market trend using Elliott Wave Theory. The analysis identifies the market function as a trend, indicating a strong, directional movement rather than consolidation or correction. The trend is impulsive, suggesting robust, directional momentum. The market structure is identified as orange wave 3, a significant phase in the Elliott Wave cycle typically denoting a strong, impulsive upward move within the broader trend. Currently, the market is positioned in navy blue wave 3, indicating strong upward momentum. The direction for the next lower degrees points to orange wave 4, suggesting that after the current impulsive phase, the market will enter a corrective phase. This anticipated shift from the impulsive wave 3 to the corrective wave 4 is crucial for traders as it may present opportunities to adjust trading strategies. The analysis emphasizes that orange wave 3 of 3 is actively in play. In Elliott Wave Theory, wave 3 of 3 is typically the most powerful and extended wave within the impulsive sequence, indicating a very dynamic and potentially profitable phase for the market. The wave cancel invalid level is set at 10283.74. This level is critical as it serves as a benchmark; if the market moves below this level, the current wave count would be invalidated, requiring a reanalysis of the wave structure. In summary, the IBEX 35 weekly chart analysis identifies the market as being in an impulsive trend within orange wave 3 and positioned in navy blue wave 3. The direction for the next lower degrees points to a forthcoming orange wave 4 correction. The market is currently in the powerful phase of orange wave 3 of 3, with a critical wave cancel invalid level at 10283.74 that traders should monitor closely. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
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By tradinglounge · Posted
USD/CAD Elliott Wave Analysis USD/CAD Daily Chart Analysis USD/CAD Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Navy blue wave 3 Position: Gray wave 3 Next Higher Degrees Direction: Navy blue wave 3 (started) Details: Navy blue wave 2 completed at 1.36743, now navy blue wave 3 of 3 is in play. Wave cancel invalid level: 1.36159 The USD/CAD Elliott Wave analysis on the daily chart provides a comprehensive view of the market trend based on Elliott Wave Theory. This analysis classifies the market function as a trend with an impulsive mode, indicating a strong and sustained movement in the primary trend direction. The current market structure is identified as navy blue wave 3, a crucial phase in the larger wave pattern. The market is positioned in gray wave 3, a sub-wave within the navy blue wave 3 structure, indicating a significant and forceful movement typical of the third wave in Elliott Wave theory, which is known for its strength and extension. The direction for the next higher degrees remains focused on navy blue wave 3, suggesting that this primary wave has begun and is progressing. The analysis indicates that navy blue wave 2 has been completed at the level of 1.36743, marking a pivotal transition point and setting the stage for the current movement within navy blue wave 3 of 3. Navy blue wave 3 of 3 is currently in play, typically indicating a period of robust market activity and potential acceleration in the trend direction. This wave is one of the most powerful and extended waves within the Elliott Wave sequence, often driving significant market advances. A crucial part of this analysis is the wave cancellation invalid level, set at 1.36159. This level acts as a key threshold; if breached, it would invalidate the current wave count and require a reevaluation of the Elliott Wave structure. It is essential to maintain above this level to continue the identified wave pattern. Summary Trend: Impulsive mode within navy blue wave 3, positioned in gray wave 3. Completion: Navy blue wave 2 completed at 1.36743, advancing through navy blue wave 3 of 3. Invalidation Level: Critical wave cancellation level at 1.36159 to sustain the current wave count and confirm the ongoing trend direction. USD/CAD 4-Hour Chart Analysis USD/CAD Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Orange wave 1 Position: Navy blue wave 3 Next Lower Degrees Direction: Orange wave 2 Details: Navy blue wave 2 completed at 1.36743, now orange wave 1 of 3 is in play. Wave cancel invalid level: 1.36159 The USD/CAD Elliott Wave analysis on the 4-hour chart provides an in-depth look at the market trend using Elliott Wave Theory. This analysis identifies the trend as impulsive, indicating a strong directional movement aligned with the primary trend. The current market structure is identified as orange wave 1, indicating the market is in the early stages of a new upward movement. The position within this structure is navy blue wave 3, a significant part of the larger trend. Navy blue wave 3 typically signifies a strong and extended movement, indicating a robust phase of market activity. The direction for the next lower degrees points to orange wave 2, which will follow the completion of the current orange wave 1. Orange wave 2 is expected to be a corrective phase, providing a retracement or consolidation after the impulsive movement of orange wave 1. This phase is crucial for maintaining the overall market structure and preparing for the next impulsive wave. The analysis details highlight that navy blue wave 2 appears to have been completed at the level of 1.36743. This completion sets the stage for the current orange wave 1 of 3, which is now in play. Orange wave 1 of 3 represents the beginning of a new impulsive trend, characterized by strong upward movement and potential market gains. A critical aspect of the analysis is the wave cancellation invalid level, set at 1.36159. This level acts as a crucial threshold that, if breached, would invalidate the current wave count. The invalidation of the wave count would necessitate a reassessment of the Elliott Wave structure and potentially alter the market outlook. Summary Trend: Impulsive phase within orange wave 1, positioned in navy blue wave 3. Completion: Navy blue wave 2 completed at 1.36743, advancing through orange wave 1 of 3. Invalidation Level: Critical wave cancellation level at 1.36159 to sustain the current wave count and confirm the ongoing trend direction. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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Question
Marteen
I use MT4 SpreadBetting account and there is USOIL instrument...... what is this instrument based on ? What market I actually bet on ??
As I write this, April CME futures is around 107.30 , May around 104.12 and your "USOIL" is 105.10 !
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