Australian Dollar/U.S.Dollar (AUDUSD) Day Chart Elliott Wave Technical Analysis 22 January 24
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By tradinglounge · Posted
TATA MOTORS – TATAMOTORS (1D Chart) Elliott Wave Technical Analysis Function: Counter Trend (Minute degree, Navy) l Mode: Corrective Structure: Potential Impulse within larger degree corrective wave Position: Minute Wave ((v)) Navy Details: Minute Wave ((v)) Navy might be complete around 770 mark as bulls prepare for a counter trend rally soon. Invalidation point: 1145-50 TATA MOTORS Daily Chart Technical Analysis and potential Elliott Wave Counts: TATA MOTORS daily chart is indicating a potential trend reversal from 1145-50 high carved in July 2024. The first impulse drop could be complete around 770 or near to completion with one more low. Alternatively, Minor Wave 4 is complete around 770 and the stock is ready to turn higher from here. TATA MOTORS had earlier dropped through 380 lows in December 2022, marked as Intermediate Wave (5) Orange. The subsequent rally thereafter can be sub divided into five waves labelled as Minor Wave 1 through 5 respectively. If the above holds, prices would stay below 1145-50 range and continue to carve lower lows and lower highs as bears remain in control going forward. TATA MOTORS – TATAMOTORS (4H Chart) Elliott Wave Technical Analysis Function: Counter Trend (Minute degree, Navy) Mode: Corrective Structure: Potential Impulse within larger degree corrective wave Position: Minute Wave ((v)) Navy Details: Minute Wave ((v)) Navy might be complete around 770 mark as bulls prepare for a counter trend rally soon. Alternatively, the stock could print another low below 770 to complete the impulse before turning higher again. Invalidation point: 1145-50 TATA MOTORS 4H Chart Technical Analysis and potential Elliott Wave Counts: TATA MOTORS 4H chart is highlighting the sub-waves after Minor Wave 3 Grey terminated around 1070 in March 2024. Please note that Wave 4 was a combination followed by a potential impulse Wave 5 through 1145-50 range. Furthermore, the price action is revealing an impulse drop from 1145-50 high, indicating a potential trend reversal. Alternatively, the entire structure from Minor Wave 3 high could be an expanded flat, which is now complete around 770 or near to completion. If the latter is true, the stock might turn higher soon and push through 1145-50 zone. Conclusion: TATA MOTORS has carved a potential impulse from 1145-50 high to 770 levels. Expect a turn to unfold from current levels soon. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
PYPL Elliott Wave Analysis Trading Lounge PayPal Holdings Inc., (PYPL) Daily Chart PYPL Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {v} of C. DIRECTION: Upside into wave {v}. DETAILS: Looking for a potential ending diagonal in wave {v} as we approach 90$. We have passed equality of potential C vs. A which also makes us think we could be in a wave 3 instead. PayPal Holdings Inc., (PYPL) 1H Chart PYPL Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (iii) of {v}. DIRECTION: Upside in wave (iii). DETAILS: Here we are exploring the possibility of further upside in wave {v} towards TradingLvel1 at 100$. Looking for upside into wave (iii). This Elliott Wave analysis of PayPal Holdings Inc., (PYPL) outlines both the daily and 1-hour chart structures, highlighting the current trends and possible future price movements. * PYPL Elliott Wave Technical Analysis – Daily Chart* PYPL is advancing within wave {v} of wave C, possibly forming an ending diagonal as it approaches the key resistance level at $90. The equality of wave C relative to wave A has been surpassed, which introduces the possibility that instead of an ending diagonal, this could be part of wave 3 in a larger impulsive structure. The focus is on whether PYPL will complete this motive structure or transition into a more extended bullish phase. * PYPL Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, PYPL is likely within wave (iii) of {v}, aiming for further upside momentum. The price is expected to move higher towards TradingLevel1 at $100, driven by the bullish continuation of wave (iii) within the overall structure of wave {v}. This suggests a stronger upside push in the near term. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
IBEX 35 (Spain) Elliott Wave Analysis Trading Lounge Day Chart IBEX 35 Daily Chart Analysis IBEX 35 Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Gray Wave 3 Position: Orange Wave 3 Direction (Next Higher Degrees): Gray Wave 3 (Initiated) Details: Gray Wave 2 appears completed, and Gray Wave 3 within Orange Wave 3 is in progress. Wave Cancel Invalidation Level: 11,295.17 Analysis Overview The daily chart for IBEX 35 presents Elliott Wave analysis indicating a bullish trend. The current wave structure identifies Gray Wave 3, which forms part of an impulsive sequence. Within this structure, Orange Wave 3 is advancing, signaling sustained upward momentum. Wave Analysis and Progression Completion of Gray Wave 2: The analysis suggests that Gray Wave 2 has likely concluded, marking the start of Gray Wave 3 within Orange Wave 3. This phase aligns with Elliott Wave Theory, which uses wave patterns to project market movements. Development of Gray Wave 3: The impulsive nature of this wave indicates a strong bullish phase with potential for further gains as the market progresses. Invalidation Level A critical invalidation level is identified at 11,295.17. If the market moves below this threshold, the current wave structure would need reassessment, potentially indicating a shift away from the expected bullish scenario. Trading Insights This analysis provides traders with a comprehensive framework to interpret the bullish momentum within the IBEX 35 market. By emphasizing key levels and directional trends, it outlines the continuation of the upward trajectory as the impulsive wave structure unfolds. The invalidation level serves as a critical marker for monitoring potential changes in market direction. For traders, this detailed wave analysis offers actionable insights into probable market behavior, supporting informed trading strategies in line with Elliott Wave principles. IBEX 35 (Spain) Elliott Wave Analysis Trading Lounge Weekly Chart IBEX 35 Weekly Chart Analysis IBEX 35 Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Gray Wave 3 Position: Orange Wave 3 Direction (Next Higher Degrees): Gray Wave 3 (Initiated) Details: Gray Wave 2 appears completed, and Gray Wave 3 within Orange Wave 3 is in progress. Wave Cancel Invalidation Level: 10,289.18 Analysis Overview The weekly chart for IBEX 35 presents Elliott Wave analysis highlighting a bullish trend. The current wave structure identifies Gray Wave 3, which is part of a larger impulsive sequence. Within this framework, Orange Wave 3 is advancing, signaling a continuation of the upward trajectory. Wave Analysis and Progression Completion of Gray Wave 2: The analysis indicates that Gray Wave 2 has likely concluded, leading to the progression of Gray Wave 3 within Orange Wave 3. This development aligns with Elliott Wave Theory, which utilizes wave patterns to forecast market movements. Development of Gray Wave 3: The ongoing impulsive movement reflects a robust bullish phase, with potential for further gains as the wave unfolds. Invalidation Level An invalidation level is set at 10,289.18. If the market falls below this threshold, the current wave structure would need reevaluation, possibly signaling a deviation from the anticipated bullish outlook. Trading Insights This analysis offers traders a comprehensive framework to interpret the IBEX 35’s bullish momentum. By emphasizing critical levels and directional trends, it highlights the continuation of the upward movement as the impulsive wave structure develops. The invalidation level provides a key reference point for monitoring potential changes in market dynamics. For traders, the detailed examination of Gray Wave 3 offers actionable insights for informed decision-making, consistent with Elliott Wave principles. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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