Jump to content

U.S.Dollar/Japanese Yen (USDJPY) Day Chart Elliott Wave Technical Analysis 25 August 23

Recommended Posts

USDJPY Elliott Wave Analysis Trading Lounge Day Chart, 25 August 23

U.S.Dollar/Japanese Yen (USDJPY)  Day Chart

USDJPY Elliott Wave Technical Analysis

Function:  Counter Trend

Mode: impulsive in C of Z


Position: Main Red wave 2

Direction Next lower Degrees:new down tren expected after 5th wave of C of Z of 2

Details: red corrective wave 4 completed at 144.595 , wave 5 of C nicely in play . Wave Cancel invalid level: 143.914


The USDJPY Elliott Wave Analysis for 25 August 23, delves into the day chart of the U.S. Dollar/Japanese Yen currency pair, offering key insights into counter-trend trading within the context of the impulsive wave pattern in the C of Z structure.


The primary emphasis of this analysis is counter-trend trading, a strategy involving the identification of price movements that oppose the prevailing market trend. This approach is particularly relevant in the impulsive wave pattern, where price moves in the direction opposite to the dominant trend are likely to occur.


The analysis introduces the complex WXYXZ structure, which often manifests during corrective phases. An understanding of this intricate pattern is essential for traders seeking to pinpoint potential price reversals and counter-trend trading opportunities. The analysis underscores that the focus here is on counter-trend trading, indicating a potential shift in market sentiment.


Central to this analysis is the progression of the main Red wave 2, which serves as the corrective phase within the impulsive sequence. The completion of the red corrective wave 4 at 144.595 is a critical aspect in identifying potential turning points in the market. Additionally, the ongoing progress of wave 5 of C enhances the trader's ability to make informed decisions.


A notable feature of this analysis is the emphasis on the Wave Cancel invalid level. This level acts as a threshold, signaling when the current wave pattern would be invalidated due to unexpected price fluctuations. Observing and respecting these invalidation levels is crucial for efficient risk management and adapting trading strategies accordingly.


The analysis extends its insights to the direction of the next lower degrees, indicating the potential for a new downward trend following the conclusion of the 5th wave of C of Z of 2. This insight is valuable for traders aiming to capitalize on counter-trend opportunities during this phase.


In conclusion, the USDJPY Elliott Wave Analysis for 25 August 23, provides traders with an in-depth understanding of counter-trend trading within the impulsive wave pattern framework. By examining the WXYXZ structure, acknowledging the completion of corrective waves, and considering the Wave Cancel invalid level, traders can


enhance their decision-making. However, traders are advised to complement this analysis with additional technical and fundamental indicators, coupled with prudent risk management practices, to formulate a comprehensive trading strategy.

Technical Analyst : Malik Awais



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
  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 29/09/23 19:22
  • Posts

    • The crypto market appears to be showing signs of recovery, with significant improvements in the Sharpe Ratios of Bitcoin, BGB, and Ethereum, according to an article published on Friday.  The Sharpe Ratio, a measure used to understand the return of an investment compared to its risk, has seen a notable increase for both cryptocurrencies. Bitcoin's Sharpe Ratio has risen from -2.4 to 0.68, while Ethereum and BGB have also experienced a similar uptrend. This change signifies higher returns at lower risk, which is expected to attract more investors to the crypto market. In addition to the improved Sharpe Ratios, increased network activity and trading volume as shown on CEXs like Bitget, Binance, and a few DEXs are suggesting a healthier market state. The current trading prices of Bitcoin, reflect this overall positive market sentiment. As of Friday, Bitcoin was trading at $27,069.73, BGB at $0.454 and Ethereum at $1,677.89. These developments are significant as they indicate reduced risk in the crypto market. The increase in the Sharpe Ratios for Bitcoin, BGB, and Ethereum suggests that these cryptocurrencies are becoming less risky investments, which could potentially lead to an influx of new investors into the market.  Could this rise in Sharpe Ratios coupled with increased network activity and trading volume point towards a recovering and less risky crypto market?
    • Hi, That's great, thank you very much. Very helpful! Many thanks.
    • Texas Instruments Inc., Elliott Wave Technical Analysis Texas Instruments Inc., (TXN:NASDAQ): Daily Chart, 29 September 23 TXN Stock Market Analysis: We have been moving lower as expected from the previous forecast. Looking for continuation lower as there is an incomplete bullish sequence. Looking for extension lower in wave {iii}. Downside target stands below wave (W). TXN Elliott Wave Count: Wave {iii} of C. TXN Technical Indicators: Below al averages.   TXN Trading Strategy: Looking for shorts on the way down.   TradingLounge Analyst: Alessio Barretta Source : Tradinglounge.com get trial here!       Texas Instruments Inc., TXN: 4-hour Chart, 29 September 23 Texas Instruments Inc., Elliott Wave Technical Analysis TXN Stock Market Analysis: As we are getting an overlapping structure in what could be a wave {iii} there is a high chance we will see an acceleration lower to then see a series of fours and fives.   TXN Elliott Wave count:  Wave (iii) of {iii}. TXN Technical Indicators: 20EMA as resistance. TXN Trading Strategy: Looking for shorts on the way down.
  • Create New...