Bitcoin/U.S.dollar(BTCUSD) Elliott Wave Technical Analysis 7 June 23
-
General Statistics
-
Total Topics22,994
-
Total Posts95,328
-
Total Members43,608
-
Most Online7,522
10/06/21 10:53
-
-
-
Posts
-
After a poor finish to last week, Asian markets mostly traded in negative fashion on Monday, though some bargain-hunting in the Nikkei lifted that index off its lows. With major central bank decisions out of the way for the time being, the focus now shifts to the possibility of a government shutdown in the US. House Republicans are making efforts to consider stopgap funding measures to stave off a shutdown. Today's major events include the German IFO index, plus testimony to eurozone lawmakers by ECB president Christine Lagarde. -
By tradinglounge · Posted
USD/CAD Elliott Wave Analysis Trading Lounge Day Chart, 25 September 23 U.S.Dollar /Canadian Dollar(USD/CAD) Day Chart USD/CAD Elliott Wave Technical Analysis Function: Counter Trend Mode: corrective Structure: likely zigzag in wave 2 Position: wave 2 of A Direction Next lower Degrees:corrective wave C of 2 Details: Blue Wave “A” of 2 completed. now corrective wave B of 2 in play ,after that wave C of 2 expected . Wave Cancel invalid level: 1.36982 The USD/CAD Elliott Wave Analysis on 25 September 23, focuses on the daily chart of the U.S. Dollar/Canadian Dollar (USD/CAD) currency pair. Utilizing Elliott Wave theory, the analysis aims to provide insights into potential market trends and movements. The identified Function in this analysis is "Counter Trend," indicating a focus on identifying and interpreting market movements that are contrary to the prevailing trend. In this context, "counter trend" suggests the analysis is aimed at potential reversals or corrections within the market. The Mode is described as "corrective," implying that the market is presently undergoing a corrective phase. Corrective phases typically follow strong trends and are characterized by price movements aiming to retrace or adjust the preceding trend. The Market Structure is outlined as a "likely zigzag in wave 2." A zigzag pattern is a specific corrective wave pattern within Elliott Wave theory, typically consisting of three waves labeled A, B, and C. The focus here is on the second wave (wave 2) within this zigzag pattern. The Position signifies that the analysis is centered on "wave 2 of A." This highlights the importance of wave 2 within the broader wave structure, suggesting it may offer significant trading opportunities. The Direction Next Lower Degrees points to the analysis being attentive to "corrective wave C of 2." This implies a focus on the development of wave C within the second wave of the Elliott Wave sequence. In the Details section, it is noted that "Blue Wave 'A' of 2" has been completed. The market is currently in the phase of "corrective wave B of 2," with an expectation of "wave C of 2" to follow. The "Wave Cancel invalid level" is specified as 1.36982, providing a reference point for traders. In summary, the USD/CAD Elliott Wave Analysis on 25 September 23, suggests that the market is in a corrective phase, focusing on the second wave (wave 2) of a likely zigzag pattern. Traders are advised to monitor the development of wave C of 2 and pay attention to the specified invalid level for potential trading opportunities, emphasizing the importance of risk management in any trading strategy. -
By tradinglounge · Posted
USD/CAD Elliott Wave Analysis Trading Lounge 4 Hour Chart, 25 September 23 U.S.Dollar /Canadian Dollar(USD/CAD) 4 Hour Chart USD/CAD Elliott Wave Technical Analysis Function: Counter Trend Mode: corrective Structure: likely zigzag in wave 2 Position: wave 2 of A Direction Next lower Degrees:corrective wave C of 2 Details: Blue Wave “A” of 2 completed. now corrective wave B of 2 in play ,after that wave C of 2 expected . Wave Cancel invalid level: 1.36982 The USD/CAD Elliott Wave Analysis on 25 September 23, provides insights into the 4-hour chart of the U.S. Dollar/Canadian Dollar (USD/CAD) currency pair. It utilizes Elliott Wave theory to assess potential market movements and trends. The Function outlined for this analysis is "Counter Trend," indicating its focus on identifying and analyzing market movements that run counter to the prevailing trend. In this context, "counter trend" suggests that the analysis is looking for potential reversals or corrections within the market. The Mode is described as "corrective," which implies that the market is currently undergoing a corrective phase. Corrective phases often follow strong trends and are characterized by price movements that aim to retrace or adjust the prior trend. The Market Structure is suggested to be a "likely zigzag in wave 2." A zigzag pattern is a specific corrective wave pattern within Elliott Wave theory, typically composed of three waves labeled A, B, and C. In this analysis, the focus is on the second wave (wave 2) within the zigzag pattern. The Position indicates that the analysis is centered on "wave 2 of A." This highlights the importance of wave 2 within the broader wave structure, suggesting that it may offer significant trading opportunities. The Direction Next Lower Degrees suggests that the analysis is attentive to "corrective wave C of 2." This implies that the focus is on the development of wave C within the second wave of the Elliott Wave sequence. In the Details section, it is noted that "Blue Wave 'A' of 2" has been completed. Currently, the market is in the phase of "corrective wave B of 2," with an expectation of "wave C of 2" following. The "Wave Cancel invalid level" is specified as 1.36982, serving as a reference point for traders. In summary, the USD/CAD Elliott Wave Analysis on 25 September 23, suggests that the market is in a corrective phase, with a focus on the second wave (wave 2) of a likely zigzag pattern. Traders are encouraged to monitor the development of wave C of 2 and be attentive to the specified invalid level for potential trading opportunities. Risk management remains crucial when implementing any trading strategy.
-
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now