Jump to content

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

Recommended Posts

NZDUSD Elliott Wave Analysis Trading Lounge 4 Hour  Chart, 4 October 23
New Zealand Dollar/U.S.Dollar (NZDUSD) 4 Hour Chart
NZDUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: impulsive in wave C
Structure: 5 of C
Position: red wave 2
Direction Next higher Degrees:red wave 3
Details:blue wave 5 of C in play after that new uptrend expected . Wave Cancel invalid level: 0.551531
The NZDUSD Elliott Wave Analysis on 4 October 23, focuses on the 4-hour chart of the New Zealand Dollar/U.S. Dollar (NZDUSD) currency pair. Utilizing Elliott Wave theory, this analysis aims to provide valuable insights into potential market movements and price action dynamics, particularly within a counter trend context.
The chosen function for this analysis is "Counter Trend," indicating a deliberate focus on identifying and analyzing market movements that run counter to the prevailing trend. This approach is valuable for traders looking to capitalize on potential corrections or reversals in the market.
The specified mode for this analysis is "impulsive in wave C," suggesting that the analysis is concentrating on identifying impulsive price movements within the context of wave C. Impulsive waves often denote strong, trending price movements, making them significant areas of interest for traders.
The market structure under scrutiny is labeled as "5 of C," specifying the wave sequence being analyzed. Elliott Wave theory relies heavily on the recognition and interpretation of wave patterns, and the analysis hones in on the development of the fifth wave within the C wave sequence.
In terms of position, the analysis refers to "red wave 2," signifying a specific focus on the ongoing development and characteristics of this wave within the broader Elliott Wave structure.
The direction specified for the next higher degree is "red wave 3," highlighting the anticipation of a potential upward movement in the market as red wave 2 reaches its conclusion. This directional insight is crucial for traders seeking to align their positions with the expected trend.
The analysis's key details indicate that "blue wave 5 of C" is currently in play, suggesting that this impulsive wave is active within the broader wave C sequence. It is further noted that after
the completion of blue wave 5, a new uptrend is expected, implying a potential shift in market sentiment and direction.
The "Wave Cancel invalid level" is identified as 0.551531, serving as an essential reference point for managing risk and making informed trading decisions.
In summary, the NZDUSD Elliott Wave Analysis on 4 October 23, highlights an ongoing counter trend analysis with a specific focus on the impulsive wave movements within the C wave sequence. Traders should closely monitor the development of blue wave 5 of C, as it may offer potential trading opportunities, especially as it approaches the specified invalid level. This analysis is particularly beneficial for those looking to capitalize on counter trend movements in the NZDUSD currency pair.
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

    • I believe DOG, as a memecoin is already quite popular and making a buzz. But as to your question, there are always new entries into the crypto space and when a reputable CEX like Bitget list it, it will substantially expose it to new communities and potential investors...    So all in all, I believe it will be good for DOG and it's future prospects! 
    • Sometimes ago, there was a CEX offering something similar but it was for new users and I even got to know about it a bit too late so I just didn't bother.   I think it's always great to see a CEX like Bitget offering this kinda promo for both new and existing users...    Thanks OP for the early heads up 👍
    • I saw Taiko on my TL yesterday but I didn't particularly pay much attention to it... But it seem they are on a good path and have forged some reputable partnerships along the way...  I have to say it's association with big guns of the industry like OKX, Kucoin etc makes it a good prospect and if you can get some of the coins early in the Bitget Pre-Market trading as you said, it will probably be a good investment in a long run! 
  • Create New...