Jump to content

British Pound/ Australian Dollar(GBPAUD) Day Chart Elliott Wave Technical Analysis 1 February 24


Recommended Posts

GBPAUD Elliott Wave Analysis Trading Lounge Day  Chart, 1 February 24
British Pound/ Australian Dollar(GBPAUD) Day Chart
GBPAUD Elliott Wave Technical Analysis
FUNCTION: Counter Trend
MODE: impulsive as A
STRUCTURE :blue wave A of 2  
POSITION: black wave 2
DIRECTION NEXT LOWER DEGREES:blue wave B of 2
DETAILS: Blue wave A of 2 is in play and looking near to end . Wave Cancel invalid level: 1.99748
The "GBPAUD Elliott Wave Analysis Trading Lounge Day Chart" dated February 1, 2024, provides a detailed analysis of the British Pound/Australian Dollar (GBPAUD) currency pair on the daily chart, employing Elliott Wave Technical Analysis.
 
The identified "FUNCTION" is "Counter Trend," indicating that the focus of the analysis is on potential movements against the prevailing trend. This is valuable for traders seeking opportunities in corrective waves within the broader market context.
 
The specified "MODE" is "Impulsive as A," suggesting that the current wave count is part of an impulsive movement, particularly within the context of a larger corrective structure. This information is crucial for understanding the nature of the market movement.
 
The "STRUCTURE" is labeled as "Blue wave A of 2," providing insight into the specific wave count within the Elliott Wave framework. This suggests that the analysis is zooming into a particular degree of wave counts within the corrective structure labeled as "2."
 
The "POSITION" is defined as "Black wave 2," indicating the current position within the broader wave count. This likely implies that the impulsive movement identified is part of a larger corrective structure labeled as "2."
 
In terms of "DIRECTION NEXT LOWER DEGREES," the analysis points to "Blue wave B of 2," anticipating the movement in the next lower degree of wave count. This suggests an expected correction following the completion of the current impulsive wave.
 
The "DETAILS" section mentions that "Blue wave A of 2 is in play and looking near to end." This suggests that the current impulsive wave is in progress and might be approaching completion.
 
The "Wave Cancel invalid level" is specified as "1.99748." This level serves as a critical reference point, and a breach of this level could potentially invalidate the current wave count, signaling a shift in the anticipated market movements.
 
In summary, the GBPAUD Elliott Wave Analysis for the daily chart on 1 February 24, suggests an ongoing impulsive movement (Blue wave A of 2) within the context of a larger corrective structure. Traders are advised to closely monitor the market, especially the invalidation level at 1.99748.
 
Technical Analyst Malik Awais
 
 
 
Forex24(3).thumb.png.9ed661adab06f1f115d364a4caad9341.png
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

    • Trading Strategies NASDAQ 100 (NDX), Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Alphabet (GOOGL), Bitcoin (BTC). Elliott Wave Analysis of NDX Tech Stocks: Risk on with this week expecting higher price levels. Longer term Elliott wave counts for NVDA, GOOGL and MSFT. I also focus on how I fit stock and Indices into the same larger Elliott wave count, that is into Primary Wave 3) of cycle degree I. Last we started to enter long trades for stocks, some have triggered long, and some are still pending, and I make an adjustment on the entry for AMZN a lower entry price. In a nutshell there is no change in Elliott wave counts. Video Chapters 00:00 NASDAQ 100 (NDX) 03:34 Apple (AAPL) 05:02 Amazon (AMZN) 08:56 NVIDIA (NVDA) 15:33 Meta Platforms (META) 16:37 Netflix (NFLX)  17:32 Alphabet (GOOGL) 24:28 Microsoft MSFT 25:39 Tesla (TSLA) 26:52 Bitcoin 29:52 End Analyst Peter Mathers TradingLounge  
    • Gate io Referrl Code: used as “3930511”. It is the most used referrl code in the world, valid for life, with the highest discount rate. When registering, write “3930511” in the field where it says “Referrl ID”. The commission discount you will receive is 100%. You can also win welcome rewards worth up to $6,666.
    • Gate io Referns Kod u: “3930511” olarak kullanilir. Dünyada en çok kullanılan, ömür boyu geçerli, en yüksek indirim oranına sahip Gate io referns kod udur. Gate io kripto para borsasına kayıt olurken “Referns Kimliği” yazan yere “3930511” yazınız. Alacağınız işlem ücreti indirimi % 100'dür. Ayrıca 6666$ USDT komisyon iade bonusu alacaksınız. Kripto para borsası Gate io Referns Kod u: “3930511” ile vadeli işlem yani futures işlem ücreti indirimleri ve spot ve marjin işlem ücreti indirimleri kazanırsınız. Ayrıca bonuslar ve bir çok promosyon kazanırsınız. Teknoloji ve finans dünyasında yatırım ve ticaret yapmak için hemen Gate io borsasına: “3930511” referns kod u ile kayıt olun.
×
×
  • Create New...
us