BLUR Token Surges: Unveiling the Meteoric Rise of Blur in the NFT Space
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By tradinglounge · Posted
USDJPY Elliott Wave Analysis Trading Lounge Day Chart, U.S.Dollar/Japanese Yen(USDJPY) Day Chart USDJPY Elliott Wave Technical Analysis FUNCTION: Trend MODE:impulsive STRUCTURE:black wave 5 POSITION: red wave 5 DIRECTION NEXT HIGHER DEGREES: black wave 5 ( started) DETAILS black wave 4 looking completed at 152.970 . Now black wave 5 is in play. Wave Cancel invalid level: 152.970 The USD/JPY Elliott Wave Analysis for the Day Chart examines the market behavior of the U.S. Dollar against the Japanese Yen using Elliott Wave Theory to determine its trend, mode, and structure. This analysis provides insights into the current and upcoming wave patterns and highlights key levels to watch. ### Function The function of the current market pattern is "Trend," indicating that the structure represents a continuation of a directional movement rather than a correction or reversal. This trend function suggests that the market is in a strong and sustained movement. ### Mode The mode is described as "impulsive," indicating that the price action is characterized by sharp and strong movements in a specific direction. Impulsive waves generally consist of five sub-waves and are typically indicative of a clear trend. ### Structure The structure in play is the "black wave 5," which represents the final wave in an impulsive sequence. This usually leads to the culmination of the current trend and is often followed by a significant correction or reversal. ### Position The position within the structure is "red wave 5," which is a component of the broader black wave 5. This position indicates that the market is in the final stages of the current impulsive move, suggesting that a correction or change in trend could follow once this wave completes. ### Direction for the Next Higher Degrees The direction for the next higher degrees is also "black wave 5," indicating that the broader trend is still active, suggesting that there's more upward potential within this final impulsive wave. ### Details The details section highlights that "black wave 4" was completed at 152.970, signaling the end of the corrective phase and the beginning of black wave 5. This wave is now in play, indicating that the final leg of the current trend has started. The Wave Cancel invalid level is also set at 152.970, implying that if the price falls below this level, the Elliott Wave structure might be invalidated, indicating a possible change in the trend's dynamics. In summary, the USD/JPY Elliott Wave Analysis for the Day Chart suggests that the market is in the final stages of an impulsive trend (black wave 5), with "red wave 5" underway. The completion of "black wave 4" at 152.970 signals the start of the final impulsive phase, indicating that a correction or reversal could follow after black wave 5 completes. The Wave Cancel invalid level at 152.970 serves as a critical threshold for monitoring the validity of the current wave structure, guiding traders in their analysis and strategy. USDJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, U.S.Dollar/Japanese Yen(USDJPY) 4 Hour Chart USDJPY Elliott Wave Technical Analysis FUNCTION: Trend MODE:impulsive STRUCTURE:black wave 5 POSITION: red wave 5 DIRECTION NEXT HIGHER DEGREES: black wave 5 ( started) DETAILS black wave 4 looking completed at 152.970 . Now black wave 5 is in play. Wave Cancel invalid level: 152.970 The USD/JPY Elliott Wave Analysis for the 4 Hour Chart focuses on the U.S. Dollar's performance against the Japanese Yen. It uses Elliott Wave Theory to explain the current market structure and its expected direction, providing insights into potential trading opportunities and risks. ### Function The analysis indicates that the current market function is "Trend," suggesting that the structure represents a continuation of an existing trend rather than a correction or reversal. This trend function generally involves a sequence of impulsive waves, indicating a strong directional move. ### Mode The mode is classified as "impulsive," indicating that the price action is characterized by a rapid and significant movement, typically composed of five distinct waves within the Elliott Wave framework. This impulsive mode suggests a clear and strong trend direction. ### Structure The structure is identified as "black wave 5," indicating that the current wave is the final wave of an impulsive sequence. This typically leads to a more significant correction or a change in trend direction after it completes. ### Position The position is described as "red wave 5," which is part of the larger black wave 5, suggesting that the market is in the final stages of the broader impulsive trend. This position indicates a potential end to the current upward trend, with a subsequent correction or reversal expected. ### Direction for the Next Higher Degrees The direction for the next higher degrees is also "black wave 5," indicating that the broader trend is still underway, suggesting more room for upward movement. ### Details In the details section, it is noted that "black wave 4" was completed at 152.970, indicating that the corrective phase has ended, and the final black wave 5 is now in play. The Wave Cancel invalid level is also set at 152.970, meaning that if the price crosses this level, the current Elliott Wave structure could be invalidated, suggesting a change in trend dynamics. In summary, the USD/JPY Elliott Wave Analysis for the 4 Hour Chart suggests that the market is in the final stages of an impulsive trend (black wave 5), with "red wave 5" underway. The black wave 4 was completed at 152.970, signaling the end of the correction and the beginning of the final impulsive phase. The Wave Cancel invalid level is also set at 152.970, serving as a critical threshold for monitoring the validity of the current Elliott Wave structure. This analysis can help traders understand the current trend and anticipate potential market changes. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By iamcryptic · Posted
I'm hearing pre market for the first time and I googled the advantage of it. Looks interesting & I might consider for zerolend. Can you share your own experience? -
By tradinglounge · Posted
ASX: MINERAL RESOURCES LIMITED - MIN Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with MINERAL RESOURCES LIMITED - MIN. We have determined that wave ((2))-red has ended, and wave ((3))-red can be opened to push higher. ASX: MINERAL RESOURCES LIMITED - MIN Elliott Wave Technical Analysis ASX: MINERAL RESOURCES LIMITED - MIN 1D Chart (Semilog Scale) Analysis Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave ((3))-red of Wave iii-blue of Wave (iii)-purple Details: The short-term outlook suggests that the ((2))-red wave appears to be nearing its end, and thereafter, the ((3))-red wave may return to push higher. A swift and strong price increase above the 70.95 level will gradually clarify this perspective. Invalidation point: 61.00 ASX: MINERAL RESOURCES LIMITED - MIN Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: MINERAL RESOURCES LIMITED - MIN Elliott Wave Technical Analysis ASX: MINERAL RESOURCES LIMITED - MIN 4-Hour Chart Analysis Function: Major trend (Micro degree, red) Mode: Motive Structure: Impulse Position: Wave ((3))-red of Wave iii-red of Wave (i)-purple Details: The shorter-term outlook suggests that wave ((2))-red has just completed, and wave ((3))-red is now unfolding to push higher. This establishes wave ((3))-red of wave iii-blue of wave (i)-purple, indicating that prices are likely to rise significantly. Invalidation point: 66.31 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: MINERAL RESOURCES LIMITED - MIN aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!
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