Jump to content

British Pound/Japanese Yen(GBPJPY) 4 Hour Chart Elliott Wave Technical Analysis 5 December 23


Recommended Posts

GBPJPY Elliott Wave Analysis Trading Lounge 4 Hour  Chart, 5 December 23

British Pound/Japanese Yen(GBPJPY) 4 Hour Chart

GBPJPY Elliott Wave Technical Analysis

Function:  Counter Trend

Mode: Corrective

Structure:  A of red wave 4

Position: red wave 4

Direction Next Higher Degrees: B of 4

Details:,  Black wave A of 4 is in play , after that b of 4 expected. Wave Cancel invalid level:188.657

The "GBPJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart" for December 5, 2023, provides insights into the British Pound/Japanese Yen (GBPJPY) currency pair within a four-hour timeframe. The technical analysis is grounded in Elliott Wave principles, offering a comprehensive understanding of the current market dynamics.

The identified "Function" is "Counter Trend," indicating that the analysis is focused on discerning movements contrary to the prevailing trend. In this context, the emphasis is likely on a corrective phase within the broader trend, presenting opportunities for traders to navigate potential reversals or retracements.

The specified "Mode" is "Corrective," highlighting the nature of the current market movement. Corrective waves are characterized by temporary price adjustments or sideways movements, suggesting a deviation from the primary trend.

The primary "Structure" under examination is "A of red wave 4," indicating that the focus is on a specific sub-wave (A) within the broader corrective structure (red wave 4). This detailed analysis allows for a nuanced understanding of the ongoing correction.

The designated "Position" is "red wave 4," providing information about the wave's location within the larger degree of correction. This suggests a focus on the specific phase of the broader corrective pattern.

The directional guidance for "Next Higher Degrees" is "B of 4," indicating an anticipation of the next upward wave within the larger corrective structure (red wave 4). This provides traders with insights into the expected progression of the correction.

Regarding "Details," the analysis notes that "Black wave A of 4 is in play." This suggests that the current phase involves the unfolding of the A wave within the larger corrective structure (red

wave 4). Additionally, it mentions that after the completion of A, the expectation is for "b of 4," signifying the anticipation of the subsequent sub-wave.

In conclusion, the GBPJPY Elliott Wave Analysis on the 4-hour chart for 5 December 23, offers a detailed examination of a corrective phase (A of red wave 4) within the broader trend. Traders are provided with insights into the current wave position, the expected next wave (B of 4), and key levels for wave cancellation.

Technical Analyst : Malik Awais

 

 

0e4442439b946debce2342cefc92a6aa

 

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'm intrigued by NADA Protocol's vision of integrating blockchain technology into the gaming experience. The prospect of owning and trading in-game items through NFTs adds an exciting dimension to gameplay, offering real rewards and enhancing immersion. The marketplace controlled by the NADA token seems promising, providing a platform for users to engage in trading activities within the gaming ecosystem. I'm optimistic about NADA's potential to carve a niche for itself in the competitive gaming world, especially with its focus on creating a fun and economically rewarding gaming environment. Looking forward to exploring this new gaming frontier!
    • I see DIMO's innovative platform as a game-changer in the automotive industry, offering a new level of connectivity and transparency. With DIMO, I can envision having access to valuable vehicle data that can enhance my driving experience and provide me with insights into the car's condition. This not only makes the car-buying process easier but also instills confidence in the vehicle's history and performance. Moreover, the listing of DIMO's native token on Bitget exchange is exciting news as it will create more exposure for the project, potentially leading to further advancements and adoption in the automotive space.    
    • The growth trajectory and innovative approach of Autonolas are indeed impressive, signaling its potential to disrupt both the crypto and AI sectors. With its unique blend of off-chain services and AI capabilities, Autonolas has positioned itself as a key player in the evolving landscape. Furthermore, the listing of its utility token OLAS on Bitget exchange, coupled with a favorable price trend and deposit rebate, adds to the project's appeal and growth prospects. Exciting times ahead for Autonolas and its investors.
×
×
  • Create New...
us