Jump to content

Euro/U.S.Dollar(EURUSD) 4 Hour Chart Elliott Wave Technical Analysis 19 December 23


Recommended Posts

EURUSD Elliott Wave Analysis Trading Lounge 4 Hour  Chart, 19 December 23

Euro/U.S.Dollar(EURUSD) 4 Hour Chart

EURUSD Elliott Wave Technical Analysis

Function:  Trend

Mode: impulsive  

Structure:blue wave 5 of black wave 1

Position: Red wave 3

Direction Next lower Degrees: black wave 2  

Details: blue wave 5 of 1 is in play  . Wave Cancel invalid level: 1.07234

The "EURUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart" dated 19 December 23, offers a detailed examination of the Euro/U.S. Dollar (EURUSD) currency pair using Elliott Wave analysis. This analysis provides valuable insights for traders seeking to understand current market conditions and potential future developments.

The identified "Function" is "Trend," indicating a focus on recognizing and understanding the prevailing market direction. This is crucial for traders aligning their strategies with the dominant trend, increasing the likelihood of successful trades.

The specified "Mode" is "Impulsive," suggesting that the market is currently experiencing strong, directional price movements. In this context, "Impulsive" likely denotes a robust upward movement, as indicated by "blue wave 5 of black wave 1."

The primary "Structure" involves "blue wave 5 of black wave 1," providing insights into the current wave's place within the broader Elliott Wave framework. Understanding the wave structure aids traders in anticipating potential price movements and making informed trading decisions.

The described "Position" is labeled as "Red wave 3," indicating the current wave's position within the larger Elliott Wave structure. This information is valuable for traders to navigate ongoing market dynamics effectively.

In terms of "Direction Next Lower Degrees," the projection is "black wave 2," signifying the anticipated corrective wave within the broader Elliott Wave structure. This information assists traders in anticipating potential future market movements in the downward direction as part of the corrective phase.

The "Details" section emphasizes that "blue wave 5 of 1 is in play," suggesting a current upward impulsive wave. This information allows traders to align their strategies with the prevailing trend.

The "Wave Cancel invalid level" is identified as "1.07234." This level serves as a crucial point at which the current wave count would be invalidated, prompting a reassessment of market conditions.

In summary, the EURUSD Elliott Wave Analysis for the 4-hour chart on 19 December 23, suggests an impulsive wave labeled as "blue wave 5 of black wave 1," indicating a bullish trend. The analysis provides insights into the anticipated corrective wave, "black wave 2," and highlights a crucial invalidation level at 1.07234. Traders can use this information for a comprehensive understanding of market conditions and to align their strategies accordingly.

Technical Analyst : Malik Awais

 

 

31c8805b82a81adda94ceb948eed4262

 

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

    • Crypto trading is a bit complicated when it comes to understanding the dynamics in profit making. Some people are more inclined to technical analysis which of course has been the widely used trading tool but some are more inclined to fundamentals but sticking to fundamentals alone could be highly risky in my own opinion even though crypto is also financial instrument that often respond to news updates.  A blend of the two could provide a safety net for traders in minimizing losses compared to potential profit. The above case scenario is largely attributed to perp futures trading and other derivatives. TA and FA could also be very useful for spot trading but I feel timely listing of projects could largely determine one's profit from investing in a project. These may not be for all projects cos some are **** coins. This could be a personal perspective but I have noticed listing speed is also another important factor to consider along with project fundamentals when trading and if we are to include listing speed as a factor for choosing trade then it will affect our choice of trading platform cos some are more inclined to top cap projects while others are more inclined low cap gems.   My experience with ORDI has proven this trading skill rewarding. ORDI was first listed on Bitget before other exchange joined the listing party after it saw rapid adoption reflecting in it significant MCap growth. This chart should give us a glimpse of my experience with this strategy.
    • In a stunning display of market momentum, the PANDORA token, the first of its kind, has skyrocketed an astonishing 4872% from its introduction on February 2nd to February 7th. This remarkable performance has not only caught the attention of cryptocurrency enthusiasts but has also solidified PANDORA’s position as a groundbreaking asset in the digital currency landscape. Pandora's ERC-404 protocol revolutionizes the token landscape by seamlessly blending the qualities of ERC20 and ERC721 standards. This experimental mixed implementation enables persistent liquidity and non-fungibility for NFTs, unlocking a realm of possibilities previously unexplored. Adding to the excitement, Bitget Wallet is gearing up to introduce a specialized section dedicated to ERC-404 token market listings. This feature creates a hub for tokens that blend the best of both worlds—the liquidity of ERC-20s and the uniqueness of ERC-721 NFTs. I have come to believe that, the electrifying surge of PANDORA token and the innovative ERC-404 standard is not just a fleeting trend but a window into the future of cryptocurrency.
    • A significant turning point in the #PORTALxBitget collaboration is the listing of $PORTAL on Bitget through the Candybomb event, which opens up benefits and synergistic prospects like 1. Diversified Trading choices: Users now have access to a wide range of trading choices thanks to $PORTAL's listing on the exchange, including cutting-edge leveraged trading capabilities and spot trading. This gives customers the freedom to interact with $PORTAL in a way that suits their preferred level of risk and trading techniques. 2. Community Synergy: By uniting the exchange users and the pre-existing $PORTAL community, the Candybomb event stimulates community engagement. Through this synergy, a positive environment surrounding #PORTALxBitget may be developed, encouraging cooperation, information exchange, and sustained interest in the project. Could this recent collab stimulate the  stage for a fruitful and mutually beneficial relationship between #PORTAL and exchange.
×
×
  • Create New...
us