U.S.Dollar /Canadian Dollar(USD/CAD) Day Chart Elliott Wave Technical Analysis 29 November 23
-
-
Posts
-
By tradinglounge · Posted
Wheat Elliott Wave Analysis Function - Trend Mode - Trend Structure - Impulse for wave (A) Position - Wave 5 of (A) Direction - Wave 5 of (A) is still in play Details - We can confirm that the recovery from 523’6 is an impulse for (A). We should see a further extension to the 661’4-703’2 Fibonacci zone where wave (B) might begin. Not much has changed since the previous update. Wheat is on the verge of its most significant recovery since October 2022. It seems that the two-year bearish cycle from March 2022 to March 2024 has concluded. Consequently, the current recovery appears to be correcting the entire cycle, giving it the advantage to surge higher than the previous bounces during the bearish cycle. On the daily chart, we can identify a bearish impulse wave sequence between the March 2022 peak of 1364’4 and the March 2024 low of 523’6. The impulse wave was completed with an ending diagonal pattern. Price broke out of the diagonal, initiating the recovery. However, it's not expected to recover the entire two-year bearish trend. This should mark the beginning of a correction towards 842’2-942 at least. Of course, there is potential for the price to fail to reach the Fibonacci retracement zone or even surpass it. It's too early to determine the structural path the price will take to complete this corrective cycle. Most likely, it will be a zigzag or a double zigzag because the price breaks out of the diagonal wave (5) with an impulse structure. Therefore, we can expect an intermediate degree (1)-(2)-(3)-(4)-(5) to complete the primary wave ‘A’ of a single zigzag or an (A)-(B)-(C) for wave ‘W’ of a double zigzag. Since both scenarios imply an upside direction, we can start with one for simplicity and adjust as we gather more price action in the coming weeks. In this case, we are initiating a double zigzag forecast for the expected bullish corrective cycle. On the H4 chart, wave (A) is nearing completion of an impulse structure. We can anticipate it to finish at the 661-703 Fibonacci extension zone. Wave (B) is now correcting wave (A) downwards before the price resumes its upward movement for (C). Therefore, as long as 523’6 is not breached, traders would be looking to buy dips as the long-term bullish correction progresses. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here! -
Hi @AlfieMico, Thank you for your post. Please note that this has been resolved and all affected ISAs have been reactivated. This is now only affecting clients who declined the pop-up to agree to the updated terms or have already had inactive accounts from previous years. Please let us know if you are experiencing this and if you want us to ask the investments team to reactivate your ISA? Thanks, KoketsoIG -
By tradinglounge · Posted
TJX Elliott Wave Analysis Trading Lounge Daily Chart, The TJX Companies Inc., (TJX) Daily Chart TJX Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minute wave {v}. DIRECTION: Upside in Minute {v}. DETAILS: Looking for a bottom in wave {iv} in place to then continue higher. Equality of {v} vs. {i} stands at 108$. TJX Elliott Wave Analysis Trading Lounge 4Hr Chart The TJX Companies Inc., (TJX) 4Hr Chart TJX Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (i) of {v}. DIRECTION: Upside in wave (iii). DETAILS: Looking for a CTLP on 100$, we need to break (b) to then start thinking about longs. Our detailed Elliott Wave analysis for The TJX Companies Inc. (TJX) as of May 7, 2024, offers insightful perspectives on potential movements for both daily and 4-hour trading charts. This analysis aims to assist traders and investors in identifying strategic positions in line with the predicted trends in TJX's stock prices. * TJX Elliott Wave Technical Analysis – Daily Chart* On the daily chart, TJX is currently exhibiting an impulsive, motive wave pattern, specifically within Minute wave {v}. This wave is crucial as it suggests a continued upward momentum following the establishment of a bottom in wave {iv}. The target for equality between wave {v} and wave {i} is projected at $108, indicating significant upside potential. * TJX Elliott Wave Technical Analysis – 4Hr Chart* Zooming into the 4-hour chart, TJX is progressing through Wave (i) of Minute {v}. The focus is on the upcoming wave (iii), which is known for its typically strong upward drive. A critical price point to monitor is the $100 level, where a conclusive break above the (b) wave high will validate bullish sentiments and open the door for positioning long trades. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!
-
Recommended Posts
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 accountSign in
Already have an account? Sign in here.
Sign In Now