Jump to content

British Pound/ Australian Dollar (GBPAUD) Day Chart Elliott Wave Technical Analysis 13 September 23


Recommended Posts

GBPAUD Elliott Wave Analysis Trading Lounge Day  Chart, 13 September 23
British Pound/ Australian Dollar (GBPAUD) Day Chart
GBPAUD Elliott Wave Technical Analysis
Function:Trend
Mode: impulsive
Structure: Ending diagonal in black wave 5
Position: Red wave C
Direction Next higher  Degrees: blue wave 5 may started
Details: blue corrective wave 4 of diagonal looking completed ,now blue wave 5 started. Wave Cancel invalid level: 1.88460
The GBPAUD Elliott Wave Analysis for 13 September 23, focuses on the daily chart of the British Pound/Australian Dollar (GBPAUD) currency pair. This technical analysis employs Elliott Wave theory to provide traders with insights into potential market movements.
 
The Function of this analysis is identified as "Trend," indicating its primary purpose is to ascertain the prevailing market direction. Understanding the current trend is fundamental for traders as it guides their trading decisions.
 
The Mode is described as "impulsive," suggesting that the market is currently experiencing strong and decisive price movements. Impulsive modes are crucial for trend-following traders as they often signify significant price trends.
 
The Structure of the market is defined as an "Ending diagonal in black wave 5." Ending diagonals are a specific Elliott Wave pattern that can signal the conclusion of a trend or the potential for a reversal. Traders closely monitor such patterns for clues about future market movements.
 
The Position within the Elliott Wave pattern is identified as "Red wave C." Understanding the market's position within the broader wave pattern is essential for traders, as it helps them anticipate potential price movements.
 
The Direction Next Higher Degrees indicates that blue wave 5 may have started, suggesting a possible continuation of the current trend or the final stages of the ending diagonal pattern. This insight is valuable for traders looking to position themselves effectively in the market.
 
In summary, the GBPAUD Elliott Wave Analysis for 13 September 23, offers traders valuable information about potential trend-following movements in the GBPAUD currency pair. By examining the Function, Mode, Structure, Position, and Direction, traders can gain a comprehensive understanding of the market's dynamics. However, it's crucial to complement this analysis with other technical and fundamental indicators and apply sound risk management strategies when making trading decisions.
gbpauddaychart.thumb.png.17f028590ee9208ccb7f0f965c3ced74.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

    • Many thanks for the clarification  Can I ask if more equity options would be available to trading via the site, on the horizon? Yes, I am referring to the spread bet account, where gains accumulated would not incur tax requirements or returns.  🙂    
    • I've gone through its white paper & discovered it has good prospects, tho the price is down atm which is a good moment to DCA to hodl to the moon on the platform you mentioned.  
    • As the world becomes increasingly reliant on information, crypto and blockchain projects are shifting their focus towards the information economy. This project revolves around the creation, distribution, and utilization of information and technology, where knowledge and information are valuable assets driving wealth and growth. $NESS token enters the scene as a cryptocurrency designed to facilitate connections within this information economy. Furthermore, $NESS boasts a unique reward system that incentivizes active user participation, collaboration, and contributions to the underlying platform's success. To empower users, NessLabs offers online courses promoting mindful productivity and sustainable creativity. $NESS is expected to be listed on Bitget once sufficient liquidity is achieved. Users who deposit $NESS will have an opportunity to earn passively.  
×
×
  • Create New...
us