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By tradinglounge · Posted
USDJPY Elliott Wave Analysis Trading Lounge Day Chart, U.S.Dollar/Japanese Yen(USDJPY) Day Chart USDJPY Elliott Wave Technical Analysis FUNCTION: Trend MODE: corrective STRUCTURE:red wave 2 POSITION:blue wave 1 DIRECTION NEXT LOWER DEGREES: red wave 3 DETAILS red wave 2 of blue wave 1 still is in play and looking near to end . Wave Cancel invalid level: 160.197 USD/JPY Elliott Wave Analysis Trading Lounge Day Chart Function: The USD/JPY market movement on the daily chart is categorized as a "Trend." This indicates that the analysis focuses on identifying the pattern and direction of the prevailing market trend. Mode: The mode is described as "corrective." In Elliott Wave terminology, this means the market is currently undergoing a correction phase rather than a continuation of an impulsive move. Corrective waves typically move against the primary trend direction and are usually composed of three sub-waves: A, B, and C. Structure: The structure being analyzed is "red wave 2." This suggests that the current movement is part of the second wave of correction in the larger trend cycle. Corrective waves like red wave 2 often retrace a portion of the initial impulsive wave. Position: The market is currently in "blue wave 1," implying that the corrective red wave 2 is occurring within the initial phase of a new wave cycle. Blue wave 1 marks the start of a new degree of trend, which encompasses the corrective red wave 2. Direction for Next Lower Degrees: The next anticipated movement is "red wave 3." This is expected to be an impulsive wave following the completion of the corrective red wave 2, signaling a potential resumption of the primary trend direction. Details: Wave Progress: The analysis notes that "red wave 2 of blue wave 1" is still in progress but appears to be nearing its end. This suggests that the market is about to transition into red wave 3, which would indicate a continuation of the trend. -Invalidation Level: The wave cancellation or invalidation level is identified at 160.197. If the market moves beyond this level, the current wave count would be invalidated, necessitating a reevaluation of the wave structure and potentially indicating a shift in market dynamics. Summary The USD/JPY Elliott Wave analysis on the daily chart indicates that the market is currently in a corrective trend phase, specifically within red wave 2 of blue wave 1. As red wave 2 approaches its end, the market is expected to transition into red wave 3, marking a resumption of the primary trend direction. The analysis highlights an invalidation level at 160.197, which, if breached, would negate the current wave count and suggest a need to reassess the market's wave structure. This analysis provides traders with insights into the ongoing corrective phase and critical points for potential trend continuation. USDJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, U.S.Dollar/Japanese Yen(USDJPY) 4 Hour Chart USDJPY Elliott Wave Technical Analysis FUNCTION: Trend MODE: corrective STRUCTURE:red wave 2 POSITION:blue wave 1 DIRECTION NEXT LOWER DEGREES: red wave 3 DETAILS red wave 2 of blue wave 1 still is in play and looking near to end . Wave Cancel invalid level: 160.197 USD/JPY Elliott Wave Analysis Trading Lounge 4 Hour Chart Function: The current analysis identifies the USD/JPY market movement on the 4-hour chart as a "Trend." This suggests that the wave pattern being observed is moving in the same direction as the prevailing market trend. Mode: The mode is "corrective," indicating that the market is undergoing a correction phase rather than an impulsive move. In Elliott Wave theory, corrective waves move against the primary trend and typically consist of three sub-waves (A, B, and C). Structure: The structure under examination is "red wave 2." This wave is part of the corrective phase within the larger trend and is typically a retracement of the initial impulsive wave. Position: The market is currently in "blue wave 1." This implies that the corrective red wave 2 is occurring within the first wave of a new degree, the blue wave 1. Direction for Next Lower Degrees: The next anticipated movement is "red wave 3." This would be an impulsive wave following the completion of the corrective red wave 2, indicating a resumption of the primary trend direction. Details: Wave Completion: The analysis notes that "red wave 2 of blue wave 1" is still in play but appears to be nearing its end. This signals an impending transition to red wave 3, where the market is expected to resume its trend direction. Invalidation Level: The wave cancellation or invalidation level is set at 160.197. If the market exceeds this level, the current wave count will be invalidated, suggesting a need to reassess the wave structure and possibly indicating a shift in market dynamics. Summary The USD/JPY Elliott Wave analysis on the 4-hour chart indicates that the market is currently experiencing a corrective trend within red wave 2. This wave is part of a broader structure within blue wave 1. As red wave 2 approaches its completion, the market is expected to transition into red wave 3, signaling a resumption of the primary trend. The analysis highlights an invalidation level at 160.197, where exceeding this level would negate the current wave count and suggest a potential reevaluation of the market dynamics. This wave analysis provides traders with insights into the ongoing corrective phase and critical points for potential trend continuation. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By Muhaammaadd · Posted
There is never a static time in the crypto space as innovations always seem to pup up from every horizon. The latest on this line is Lifeform, a Web3 leader that lets users create stunning 3D virtual avatars that act as your digital identity across web3 and even familiar web2 platforms like Zoom and TikTok. What stood out for me was their user-friendly editor, powered by cutting-edge Unreal Engine 5 technology, that crafts hyper-realistic avatar with billions of customization. Latest information I got shows that their DID solution acts like a digital passport, granting access to dApps and the metaverse with a single login. By leveraging AI, Lifeform analyzes your blockchain activity and recommends personalized services and dApps, making your Web3 journey smooth and efficient. With millions of users already on board, and Tier1 listing of LFT, Lifeform is poised to be the key that unlocks Web3 for the next billion users. -
By tradinglounge · Posted
ASX: FORTESCUE LTD – FMG Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with FORTESCUE LTD - FMG. We've identified that wave ((ii)) in green has recently bottomed out, and wave ((iii)) in green is now unfolding to push significantly higher. ASX: FORTESCUE LTD - FMG Elliott Wave Technical Analysis ASX: FORTESCUE LTD - FMG 1D Chart (Semi Log Scale) Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave iii-blue of Wave (iii)-purple of Wave ((iii))-green Details: The short-term outlook shows that wave i,ii-blue has just ended, and wave iii-blue is opened to push even higher. The previously updated position in Stock Check was profitable. Invalidation point: 24.04 ASX: FORTESCUE LTD - FMG Elliott Wave Technical Analysis ASX: FORTESCUE LTD - FMG 4-Hour Chart Analysis Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave iii-blue of Wave (iii)-purple Details: The shorter-term outlook shows that wave i-blue has just ended, and wave ii-blue seems to have completed. Wave iii-blue may now unfold to push higher. Invalidation point: 25.82 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: FORTESCUE LTD - FMG aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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