Market update: GBP slides ahead of BoE rate decision
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By tradinglounge · Posted
MCD Elliott Wave Analysis Trading Lounge Daily Chart, McDonald’s Corp., (MCD) Daily Chart MCD Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave 1 DIRECTION: Completion in wave 1 DETAILS: Looking for MG1 of 300$ as upside target where we could potentially we a top in wave 1. MCD Elliott Wave Analysis Trading Lounge 1H Chart, McDonald’s Corp., (MCD) 1H Chart MCD Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {v} of 1. DIRECTION: Looking upside within {v}. DETAILS: Looking for a bit of a different approach than what is present din the daily chart. Looking for upside within wave (v) of {v} to be unfolding. In this Elliott Wave analysis for McDonald’s Corp. (MCD), we will examine the trend structure across both the daily and 1-hour charts to assess the current wave progression and potential price targets. * MCD Elliott Wave Technical Analysis – Daily Chart* On the daily chart, McDonald’s is progressing through Wave 1 of a new impulsive move. The focus is on the completion of this wave, with Minor Group 1 (MG1) at $300 serving as the primary upside target. This level could potentially mark the top of Wave 1 as we approach a significant psychological and technical resistance level. Traders should watch for any signs of exhaustion as the price nears $300, indicating a potential corrective phase could begin once Wave 1 tops out. * MCD Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, McDonald’s is progressing within Wave {v} of 1, and the current wave structure suggests we are unfolding in the final leg—Wave (v) of {v}. This differs slightly from the daily chart but complements the broader trend, indicating that further upside is still expected before Wave 1 completes. The shorter-term view supports an ongoing bullish move, with price pushing toward the $300 target. Once Wave (v)completes, traders should anticipate the possibility of a correction, marking the end of Wave 1. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
By CryptoChamp · Posted
Floki Inu (FLOKI) has jumped 15% recently, driven by its strong community and expanding utilities. Known initially as a memecoin, it’s now gaining traction with projects like the Valhalla NFT metaverse and FlokiFi. However, its growth still largely depends on community participation. Signs of Growing Investor Confidence Decline in Liquidations: Over the last three weeks, long position liquidations have fallen sharply from $356.8k to $11.9k. This indicates increased confidence from investors holding onto their FLOKI. Positive Funding Rate: The positive OI-Weighted Funding Rate shows more investors are willing to pay a premium to hold long positions, signaling strong market confidence. Investor Behavior Points to Strong Holding Reduced Exchange Inflow: Exchange inflows have dropped from 4.63 billion tokens to just 7.06 million, suggesting investors are moving FLOKI to private wallets, expecting further price increases. Floki Price Prediction: What’s Next? Floki Price Prediction: FLOKI is currently trading at $0.001494, with a market cap of $1.43 billion. Analysts predict it could soon break the $0.0012 resistance level. Bullish Momentum: A possible golden crossover between the 50 and 200-day EMAs could boost FLOKI’s price, potentially leading to a breakout above the $0.0010 mark. The floki price prediction is looking promising for a continued bull run -
By tradinglounge · Posted
Cocoa Elliott Wave Analysis After reaching an all-time high of 11,722 in April 2024, Cocoa prices have entered a corrective phase, with the market still within this consolidation period. Since May 2024, Cocoa has traded predominantly below the 10,000 mark, suggesting that the ongoing bearish correction could extend further. It is anticipated that this corrective cycle will continue below the August 2024 low, possibly dropping toward the 5,000 level or lower, before the long-term bullish trend resumes. On the daily chart, a double zigzag corrective pattern is becoming evident from the April high. The first leg of the correction, wave W, concluded on August 8th, with the current upward movement representing wave X. Once wave X completes, wave Y could follow, potentially pushing prices toward the 5,000 level or even lower. Unless Cocoa prices rebound significantly and approach the 11,000 level, the downside scenario remains the most probable, suggesting the correction is not yet complete. In the H4 chart, wave X appears to have finished forming its own double zigzag pattern. As prices approach the wave x (circled) low at 6,850, the likelihood of wave Y commencing increases. A break below this level would likely confirm the start of wave Y, followed by a breach of the 6,600 level, where wave W previously ended. In conclusion, Cocoa's corrective phase seems far from over, with the potential for further declines toward 5,000 or below. The market is still within a larger bearish cycle that began after the April 2024 peak. While a strong rebound could change the outlook, the price action suggests that the corrective structure will likely continue to play out. A break below 6,850 would be a key signal confirming the start of wave Y, accelerating the move toward the completion of this corrective phase. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!
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