Jump to content

New Zealand Dollar/U.S.Dollar (NZDUSD)  4 Hour Chart Elliott Wave Technical Analysis 17 August 23


Recommended Posts

NZDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, 17 August 23
New Zealand Dollar/U.S.Dollar (NZDUSD)  4 Hour Chart
NZDUSD Elliott Wave Technical Analysis
Function:  Counter Trend
Mode: impulsive
Structure: blue wave 3 of C  
Position: Black wave C
Direction Next higher Degrees:subwave 4 of C  
Details:Blue  wave 3  looking still in play,also looking for corrective wave 4 to start.Wave Cancel invalid level: 0.61553
 
The NZDUSD Elliott Wave analysis for 17 August 23, focuses on the 4-hour chart and examines counter-trend impulsive movements in the context of the blue wave 3 of C. This analysis aims to provide traders with insights into potential market movements, wave positions, and the development of corrective phases, allowing them to make informed trading decisions.
 
Counter-trend impulsive movements denote significant price shifts that oppose the prevailing market trend. Understanding these movements can offer traders unique trading opportunities that arise from these rapid price changes.
 
The structural focus of the analysis is on the blue wave 3 of C. This wave indicates a phase of strong impulsive movement, characterized by substantial price shifts. This structure highlights the importance of closely monitoring the market's dynamics during this phase, as it can offer opportunities for traders to capitalize on short-term price movements.
 
Key attention is directed towards the position of the black wave C, which is nested within the larger wave hierarchy. Understanding the relationship between these waves is essential for gauging potential future price movements and anticipating shifts in market sentiment.
 
The analysis emphasizes that the blue wave 3 remains in play, underscoring the ongoing impulsive phase and the potential for continued price movements in the same direction. Additionally, the anticipation of a corrective wave 4 to start is highlighted, suggesting a potential price retracement before further impulsive movement.
 
The Wave Cancel invalid level at 0.61553 serves as a crucial threshold. Crossing this level could necessitate a reevaluation of the current wave analysis, prompting traders to adapt their strategies and risk management techniques accordingly.
 
In conclusion, the 4-hour chart Elliott Wave analysis of NZDUSD delves into counter-trend impulsive movements within the context of the blue wave 3 of C. This analysis arms traders with insights to navigate short-term price fluctuations, anticipate corrective phases, and make informed trading decisions aligned with market dynamics. However, traders should supplement this analysis with fundamental data and market sentiment to ensure a comprehensive trading approach. Moreover, adapting strategies to changing
market conditions and employing effective risk management techniques remains paramount for successful trading.
8)nzdusd.png.334e5b0dfd223bd049f8f55ce9403475.png
Link to comment

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 account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Recently, we have noticed the growth of Mobile mining, a lot of projects have sprung up where users earn passively through these mining platforms. Under the same breath, ICE blockchain has evolved as a new digital currency that can be mined or earned from any mobile device. The bourgeoning blockchain is solely based on a community of trust and has a decentralized governance model. The network is built with inherent scalability, such that it can scale a good number of network participants without compromising its speed or efficiency. On its most positive side, the Ice Open Network has high performance and has the innate capacity to process millions of transactions per second, heralding it as one of the fastest blockchains in the world. Through the instrument of its threads and shards, it parallelizes transactions into bits thus significantly increasing throughput and enhancing scalabilty. Apart from being highly scalable, it is an offshoot of TON blockchain that seeks to bring forth decentralized services for data privacy, user control and efficient data management. In the core spirit of Web3, Ice network has a decentralized identity service that allows users to create and manage their own digital identities with top level assurance, privacy and security. Flowing from above, the ICE network has a good number of usecases and more are in the offing as well. Consequently, platforms like Bitget have declared intent to list the native token $ICE on 28th February, with a deposit to earn event. This is a really good way for the project to garner spotlight. I’m optimistic as per its growth in the long run.    
    • Hi KoketsoIG, Thank you for the clarification on that. Cheers
    • Dear @millennium_falcon, Hey there! Thank you for reaching out. Just a heads-up, you can only have one API key for each environment, either live or demo. No third API key can be created.  Thanks, KoketsoIG
×
×
  • Create New...
us