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10/06/21 10:53
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By tradinglounge · Posted
USDJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, 3 October 23 U.S.Dollar/Japanese Yen (USDJPY) 4 Hour Chart USDJPY Elliott Wave Technical Analysis Function: main Counter Trend Mode: corrective Structure:5 of C Position: Y of Z of 2 Direction Next lower Degrees:Red wave 3 Details: wave 5 of C in play and near to end . Major Wave Cancel invalid level: 151.983 The USDJPY Elliott Wave Analysis on 3 October 23, examines the 4-hour chart of the U.S. Dollar/Japanese Yen (USDJPY) currency pair. This analysis utilizes the Elliott Wave theory to gain insights into potential market trends and price movements, with a particular focus on counter-trend movements. The chosen Function for this analysis is "main Counter Trend," indicating a primary emphasis on identifying and interpreting market movements that run counter to the prevailing trend. In this context, the analysis aims to capture potential corrective moves within the broader Elliott Wave structure. The Mode specified for this analysis is "corrective," suggesting an anticipation of corrective price movements. Corrective waves often denote temporary interruptions in the existing trend, with the expectation of a trend reversal or a new trend development. The Market Structure identified is "5 of C," highlighting the specific wave sequence within the Elliott Wave framework that is under scrutiny. Understanding and analyzing wave sequences are crucial for gaining insights into potential market dynamics. In terms of Position, the analysis refers to "Y of Z of 2," which provides context regarding the current wave position within the broader Elliott Wave structure. This indicates that the analysis is focused on the development of this particular wave sequence. The Direction Next Lower Degrees is specified as "Red wave 3," emphasizing the analysis's concentration on monitoring and interpreting the ongoing Red wave 3 within the larger Elliott Wave framework. In the Details section, it is noted that "wave 5 of C" is currently in play and is approaching its potential completion. This suggests that the corrective wave sequence is reaching its final stages. The "Major Wave Cancel invalid level" is identified as 151.983, serving as a critical reference point for risk management and potential trade entry or exit levels. To summarize, the USDJPY Elliott Wave Analysis on 3 October 23, indicates a corrective phase within the Elliott Wave framework, with a primary focus on the ongoing "wave 5 of C." Traders are advised to closely monitor this wave's progression, considering the specified invalid level as a potential reference point for risk management. This analysis provides valuable insights for those trading the USDJPY currency pair, particularly for those looking to capitalize on counter trend opportunities. Technical Analyst : Malik Awais -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, 3 October 23, Bitcoin/U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave((C)) Direction Next higher Degrees: wave II of Motive Wave Cancel invalid level: 28635 Details: Wave ((C)) trend move to 138.2% of Wave ((A)) at 23214.83 Bitcoin/U.S. dollar(BTCUSD)Trading Strategy: The violent increase from Level 26026 destroyed the Triangle Formation, but even so, the W.C.Invalid Level was not destroyed. We are still looking for a wave 5 decline. Bitcoin/U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish divergence. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Elliott Wave Analysis TradingLounge 4H Chart, 3 October 23, Bitcoin/U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Double Corrective Position: Wave 4 Direction Next higher Degrees: wave ((C)) of Flat Wave Cancel invalid level: 28635 Details: the increase in wave 4 before decline in wave 5 Bitcoin/U.S. dollar(BTCUSD)Trading Strategy: The violent increase from Level 26026 destroyed the Triangle Formation, but even so, the W.C.Invalid Level was not destroyed. We are still looking for a wave 5 decline. Bitcoin/U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish momentum. -
As forecasts of a luxury consolidation grow ever louder, Xiaolin Chen, head of international at KraneShares, tells IGTV financial analyst @AngelineOng why higher-end names like Hermes, Gucci and Dior will still do well. Angeline Ong | Financial Analyst, Presenter and Content Editor, London | Publication date: Tuesday 03 October 2023 14:04 (Video Transcript Summary) Chinese overseas spending set to rise Dr Xiaolin Chen from KraneShares speaks to IG financial analyst Angeline Ong about the current trends in China's consumption and luxury stocks. Dr Chen says that while many Chinese people are choosing to travel within China during the Golden Week holiday, overseas spending is expected to decrease. This could be because of personal preferences and travel restrictions. However, Dr Chen believes that Chinese people will continue to travel abroad for holidays in the future. When it comes to luxury stocks, Dr Chen explains that Chinese households have become wealthier, leading to more spending on luxury brands. Chinese consumers now prefer more expensive and exclusive luxury brands, and they are also buying from local Chinese brands. The price difference between luxury brands sold domestically and abroad has decreased, making shopping locally more appealing. K-Lux fund targets luxury brands Dr Chen says popular luxury brands like Hermes, Gucci, Dior and Chanel are loved by Chinese consumers. However, she noted that these brands may have had a temporary increase in revenue after reopening and might need to make some adjustments now. She also mentions that the growing middle class in China, comprising some 700 million people, is a significant consumer base for both high-end and more affordable luxury brands. To target this market, KraneShares has launched a fund called K-Lux. Using cleaner energy alongside fossil fuels In terms of the energy sector, Dr Chen talks about the global shift toward decarbonisation and the role of oil and fossil fuel companies. She acknowledged the challenges of balancing the transition to cleaner energy sources with the continued use of fossil fuels. Dr Chen highlights China's commitment to reducing carbon emissions and mentions that the country is investing heavily in green energy technologies. Dr Chen also discusses the inflow of investments into Chinese equities. Since Chinese A-shares were included in global indices in 2018, there has been a positive net inflow of investments each year. Despite some mixed economic data and outflows in 2023, institutional investors have shown confidence in the Chinese market by strategically positioning themselves for long-term allocations. Dr Chen believes that with supportive policies and positive data releases, investor sentiment toward Chinese equities will improve in the coming months. This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
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