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By tradinglounge · Posted
DOW JONES - DJI Elliott Wave Analysis Trading Lounge Day Chart DOW JONES - DJI Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Orange Wave 2 Position: Navy Blue Wave 5 Direction Next Higher Degrees: Orange Wave 3 Details: The Elliott Wave analysis on the Dow Jones (DJI) daily chart indicates a counter-trend move within a corrective wave structure. This phase highlights Orange Wave 2, marking a corrective stage after the completion of the prior impulsive Orange Wave 1. Currently positioned within Navy Blue Wave 5, this phase suggests that Wave 2 is underway, creating a temporary pause or retracement within the broader upward trend. The next projected phase, Orange Wave 3, is anticipated to continue the primary trend upwards once Orange Wave 2 completes. According to Elliott Wave Theory, such corrective phases—like Orange Wave 2—serve as consolidation or pullback opportunities, establishing a foundation before resuming the main trend direction. An invalidation level is set at 38,531.48, marking a critical threshold for this wave structure. Should the price action fall below this level, it would invalidate the current wave pattern and potentially indicate a shift from the expected corrective wave. However, as long as the price remains above this threshold, the wave count is valid, suggesting a likely continuation into Orange Wave 3 upon Orange Wave 2’s completion. This setup implies that once Orange Wave 2 ends, the primary trend should resume upward, aligning with the anticipated progression into Orange Wave 3. The current wave count supports a bullish outlook beyond this corrective stage, provided the invalidation level is maintained. This structure points to a temporary pause before the market may continue its upward trend, completing the transition into the impulsive structure anticipated with Orange Wave 3. DOW JONES - DJI Elliott Wave Analysis Trading Lounge Weekly Chart DOW JONES - DJI Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Orange Wave 2 Position: Navy Blue Wave 5 Direction Next Higher Degrees: Orange Wave 3 Details: The weekly Elliott Wave analysis of the Dow Jones (DJI) reveals a counter-trend corrective phase within Orange Wave 2. This stage follows the completion of Orange Wave 1, signaling a temporary retracement within the ongoing upward trend. Positioned within Navy Blue Wave 5, this wave reflects that Orange Wave 2 is currently active, representing a correction within the larger trend. Upon completion of Orange Wave 2, expectations are set for the index to transition into Orange Wave 3, resuming the primary bullish trajectory. This anticipated Wave 3 suggests an upward move after the corrective retracement of Wave 2. In Elliott Wave Theory, corrective waves like Orange Wave 2 often act as consolidation periods, allowing the market to build momentum before resuming its advance. The invalidation level for this wave structure is established at 38,531.48. Should prices dip below this level, it would invalidate the current wave count and potentially indicate a shift in the expected movement. However, as long as prices remain above this threshold, the structure supports the forecast of a continuation into Orange Wave 3 following Orange Wave 2's conclusion. This level serves as a checkpoint to affirm the wave count and the market's overall direction, sustaining the integrity of the projected corrective and impulsive phases. In summary, this analysis highlights a temporary corrective phase within the broader upward trend. Orange Wave 2 marks a pause before the likely progression into the impulsive Orange Wave 3. This corrective structure provides the market with an opportunity to stabilize before resuming its upward trajectory, assuming prices stay above the invalidation level. Overall, the wave setup maintains a bullish outlook for the longer term, with the market expected to transition back into the primary trend upon completing this correction. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By iamcryptic · Posted
A new GameFi token called Legend of Arcadia is trending, bringing together the best of traditional gameplay and Web3 GameFi 2.0 elements. This multi-chain, free-to-play, play-to-earn strategy card game emphasizes an immersive experience with deep strategic elements, allowing players to assemble and upgrade unique character cards, each with distinct abilities. Set in a rich fantasy world, players engage in strategic battles, complete quests, and earn in-game assets, including NFTs. Beyond gameplay, Legend of Arcadia offers multiple income streams, enabling players to increase yields through staking, battling, and mining. The token generation event is scheduled for today, and the token will be available on Bitget’s PoolX. I believe this game is promising new entry into the GameFi space, accessible for both traditional gamers and crypto enthusiasts. -
By tradinglounge · Posted
USDCHF Elliott Wave Analysis - Trading Lounge U.S. Dollar / Swiss Franc (USDCHF) - Day Chart USDCHF Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Navy Blue Wave 2 Position: Gray Wave 3 Next Higher Degree Direction: Navy Blue Wave 3 Details: Navy Blue Wave 1 is complete; Navy Blue Wave 2 is currently in progress. Wave Invalidation Level: 0.83765 The USDCHF daily chart's Elliott Wave analysis highlights a counter-trend corrective structure, centering on Navy Blue Wave 2, which follows the completion of the preceding impulsive Navy Blue Wave 1. This corrective phase, Wave 2, signals a temporary consolidation or retracement within the larger trend. Positioned within Gray Wave 3, this movement suggests a pullback that allows for market adjustment before the anticipated trend resumption. According to Elliott Wave theory, corrective waves like Navy Blue Wave 2 typically offer brief counter-movements against the primary trend, presenting a pause or retracement. Upon concluding, the primary trend is likely to continue with Navy Blue Wave 3, indicating further upward momentum in line with the direction established in Wave 1. The wave cancel level is crucially set at 0.83765. A price movement below this threshold would invalidate the current wave structure, possibly indicating a deviation from the anticipated pattern. Sustaining price action above this level maintains the integrity of the corrective wave and the transition into the expected Navy Blue Wave 3, aligning with the broader bullish trend. This analysis underscores the significance of Navy Blue Wave 2 in preparing for the next phase. Should this corrective phase resolve without breaching the invalidation level, it opens the potential for the next impulsive wave, consistent with the higher-degree Navy Blue Wave 3. This setup hints at a bullish outlook post-consolidation, contingent on validation at the key wave cancel level. U.S. Dollar / Swiss Franc (USDCHF) - 4-Hour Chart USDCHF Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Navy Blue Wave 2 Position: Gray Wave 3 Next Higher Degree Direction: Navy Blue Wave 3 Details: Navy Blue Wave 1 is completed; Navy Blue Wave 2 is currently active. Wave Invalidation Level: 0.83765 The USDCHF 4-hour chart Elliott Wave analysis reveals a counter-trend corrective pattern, with Navy Blue Wave 2 actively unfolding after the completion of Navy Blue Wave 1. This structure suggests a period of consolidation that may precede a resumption of the primary trend in the upcoming wave phase. Gray Wave 3 is nested within this corrective Navy Blue Wave 2, indicating a potential pullback or sideways price movement typical of corrective phases. Elliott Wave theory posits that such corrective waves counterbalance the dominant trend, offering a period of retracement or consolidation that sets the stage for the next impulsive move. The next higher degree move is projected as Navy Blue Wave 3, expected to resume the primary trend upon the conclusion of this corrective phase. This shift would likely align with the upward direction seen in Navy Blue Wave 1, implying that Navy Blue Wave 2 is a preparatory phase leading into further trend continuation. The wave cancel level, defined at 0.83765, serves as a key threshold for the current wave count. Should the price drop below this level, it would invalidate the current structure and may indicate a divergence from the projected wave pattern. Maintaining price above this level supports the validity of Navy Blue Wave 2 and sets up for a continuation into Navy Blue Wave 3, suggesting further potential upside following this corrective phase. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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Liam15
Demo account being unresponsive,saying that it’s a Thursday when it’s a Wednesday,clicking the buy/sell buttons then there’s a delay.
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