GBP, FTSE 100 down as Halifax sees biggest monthly house price drop since June 2021
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By tradinglounge · Posted
FTNT Elliott Wave Analysis Trading Lounge Fortinet Inc., (FTNT) Daily Chart FTNT Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (3). DIRECTION: Upside within wave 5 of (5). DETAILS: We are looking for a bottom in wave 4 as we have approached TradingLevel1 a 100$. Fortinet Inc., (FTNT) 1H Chart FTNT Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {c} of 4. DIRECTION: Bottom in wave {c}. DETAILS: Looking for one more leg lower into wave 4 to then turn higher. Equality of {c} vs. {a} stands at 89$ while another feasible target is at 93$ which is 0.618 {c} vs. {a}. In this Elliott Wave analysis, we will review the trend structure of Fortinet Inc., (FTNT) using both the daily and 1-hour charts to assess the current wave position and potential price movements. * FTNT Elliott Wave Technical Analysis – Daily Chart* Fortinet (FTNT) appears to be in wave 5 of (5). Currently, it is finding support as it approaches TradingLevel1 at $100, which coincides with the expected completion of wave 4. Once wave 4 forms a bottom, the analysis suggests further upside potential as wave 5 unfolds. * FTNT Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, FTNT is in the final stages of wave {c} of 4, which could complete the wave 4 correction. The next leg lower is anticipated to end around $89 (equality of {c} vs. {a}) or $93, which corresponds to the 0.618 Fibonacci retracement of {c} vs. {a}. After this, we expect a turn higher, marking the beginning of wave 5. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
BGB has been absolutely killing it this year, and I think a lot of it comes down to Bitget consistently giving holders solid reasons to stay invested. I’ve been holding BGB since it was around $0.8, and seeing it hit $2.9 has been a wild ride. Features like Launchpool and Candybomb have made it easier to earn while holding, and honestly, the trust that the exchanger has built with that $643M protection fund makes me feel even more secure. If this momentum keeps up, I wouldn’t be surprised to see it hit $5 soon -
By tradinglounge · Posted
Hang Seng Index – Day Chart Analysis Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Gray Wave 3 Position: Orange Wave 3 Direction in Lower Degrees: Gray Wave 4 (next expected phase) Details: Gray Wave 2 appears completed, and Gray Wave 3 is now active. Wave Cancel Invalidation Level: 19,017.95 Analysis Summary The Hang Seng Index daily chart showcases an Elliott Wave analysis indicating a bullish trend. The wave structure identifies gray wave 3, part of an impulsive sequence, with orange wave 3 currently advancing, reflecting robust upward momentum in the market. Key Insights Completion of Gray Wave 2: The earlier gray wave 2 appears concluded. Development of Gray Wave 3: The active gray wave 3 highlights significant bullish momentum and aligns with impulsive wave behavior as defined in Elliott Wave Theory. Invalidation Level: A cancelation level is set at 19,017.95. If the market drops below this level, the current wave structure must be reassessed, potentially altering the bullish outlook. Trading Perspective This Elliott Wave analysis provides a detailed view of the bullish trend in the Hang Seng Index. The ongoing gray wave 3 underscores the potential for continued upward momentum, reinforcing the bullish trajectory within the impulsive sequence. Critical levels and directional patterns offer traders valuable guidance. The active gray wave 3 phase supports expectations for further market gains in line with the prevailing trend. Hang Seng Index – Weekly Chart Analysis Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Gray Wave 3 Position: Orange Wave 3 Direction in Lower Degrees: Gray Wave 4 (expected next phase) Details: Gray Wave 2 appears completed, and Gray Wave 3 is now underway. Wave Cancel Invalidation Level: 19,017.95 Analysis Summary The Hang Seng Index weekly chart presents an Elliott Wave analysis indicating a bullish trend. The current wave structure is identified as gray wave 3, part of an impulsive sequence, with orange wave 3 advancing and signaling strong upward market momentum. Key Insights Completion of Gray Wave 2: The preceding gray wave 2 has likely concluded. Progression of Gray Wave 3: The ongoing gray wave 3 represents a major leg in the bullish trend, consistent with Elliott Wave Theory’s characterization of impulsive waves as drivers of significant market movement. Invalidation Level: A wave cancelation level is set at 19,017.95. A fall below this level would necessitate reevaluation of the wave structure and could suggest a deviation from the expected bullish scenario. Trading Perspective This Elliott Wave analysis offers a structured view of the bullish trajectory in the Hang Seng Index. The active gray wave 3 highlights continued upward potential, reinforcing expectations for further market gains within the impulsive phase. By identifying key structural levels and directional trends, the analysis provides traders with actionable insights. The ongoing progression of gray wave 3 supports the broader bullish sentiment in the market. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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