Jump to content

IBEX 35 (Spain) Index Elliott Wave Technical Analysis

Recommended Posts

IBEX 35 (Spain)  Elliott Wave Analysis Trading Lounge Day Chart,
IBEX 35 (Spain)  Elliott Wave Technical Analysis
FUNCTION: Trend    
STRUCTURE:red wave 5
POSITION: blue wave 3
DETAILS:red wave 4 looking completed at 476. Now red wave 5 of 3 is in play.
Wave Cancel invalid level: 4508    
The IBEX 35 Elliott Wave analysis on the daily chart offers insights into the current market trend and its anticipated movements, employing the Elliott Wave theory. This analysis is designed to identify the prevailing trend, which is classified as impulsive. An impulsive trend signifies robust directional movements, characterized by significant price changes that follow the primary market direction.
The focal structure in this analysis is red wave 5, a critical component of the impulsive wave cycle. Within this larger wave structure, the market is positioned in blue wave 3, indicating an ongoing phase of strong market activity. Blue wave 3 is typically associated with substantial price movements and is a key part of the impulsive wave sequence.
Looking forward, the analysis suggests that blue wave 4 is the next direction for the lower degrees. This wave will come after the completion of blue wave 3 and generally involves a corrective phase where the market consolidates recent price movements before resuming the primary trend.
The details provided in the analysis highlight that red wave 4 appears to be completed at a specific price level of 4761. This completion indicates that the market is now in the phase of red wave 5 of blue wave 3, suggesting continued strong market activity as part of the broader impulsive wave structure.
A critical component of this analysis is the wave cancel invalid level, set at a particular price point of 4508. If the market price falls below this level, it would invalidate the current wave count, necessitating a reassessment of the Elliott Wave structure. This invalidation level is crucial for confirming the accuracy of the wave pattern and the projected market direction.
In summary, the IBEX 35 is currently in an impulsive trend on the daily chart, situated within the third wave of the red wave 5 sequence. The market has completed red wave 4 and is now progressing through red wave 5 of blue wave 3. Monitoring the invalidation level is essential to validate the current wave count and accurately predict future market movements.
IBEX 35 (Spain)  Elliott Wave Analysis Trading Lounge Weekly Chart,      
IBEX 35 (Spain) Elliott Wave Technical Analysis  
STRUCTURE: blue wave 3
POSITION:black wave 3
DETAILS:blue wave 3 still is in play , after that blue wave 4 expected.
Wave Cancel invalid level: 4508
The IBEX 35 Elliott Wave analysis on the weekly chart provides a detailed examination of the current trend using the Elliott Wave theory. This analysis identifies the prevailing trend as impulsive, indicating strong and consistent directional market movements. Impulsive trends are characterized by clear, sharp price movements that follow the primary market direction.
The primary structure under consideration is blue wave 3, which is part of a larger impulsive wave sequence. Within this context, the market is currently positioned in black wave 3. This wave represents a significant phase of the impulsive cycle, typically associated with substantial price advances and strong market activity.
Looking ahead, the analysis suggests that blue wave 4 is the next expected movement in the lower degrees of the wave structure. Blue wave 4 usually follows the completion of blue wave 3 and involves a corrective phase where the market consolidates recent gains before continuing the primary trend.
The details provided in the analysis emphasize that blue wave 3 is still actively unfolding, indicating ongoing strong market movements. Once blue wave 3 completes, the market is anticipated to enter blue wave 4, which will involve a period of correction and consolidation.
A crucial aspect of this analysis is the wave cancel invalid level, set at 4508. This level serves as a critical threshold; if the market price drops below this point, it would invalidate the current wave count. This invalidation necessitates a reassessment of the wave structure and the market's projected direction. Monitoring this level is essential to confirm the validity of the wave pattern and ensure accurate market predictions.
In summary, the IBEX 35 is currently in an impulsive trend on the weekly chart, situated within the third wave of blue wave 3. The market is expected to continue through blue wave 3 before transitioning to blue wave 4, a corrective phase. Keeping an eye on the invalidation level is crucial to validate the current wave count and ensure the accuracy of future market forecasts.
Technical Analyst Malik Awais
Source : Tradinglounge.com get trial here!
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

    • The foreign exchange market, also known as the FX market, is the largest and most liquid market in the world, with a daily trading volume of over $6 trillion. It is a global decentralized market where individuals, businesses, and institutions trade currencies. In the FX market, participants buy and sell currencies at agreed-upon exchange rates. The exchange rate represents the value of one currency in terms of another. For example, the EUR/USD exchange rate represents the number of US dollars needed to buy one euro. There are several key players in the FX market, including: - Banks and brokerages - Hedge funds and investment firms - Multinational corporations - Central banks - Individual traders The FX market operates 24/5, with trading sessions in Tokyo, London, and New York. Currency prices fluctuate based on supply and demand, economic indicators, political events, and market sentiment. There are several types of FX transactions, including: - Spot transactions (immediate settlement) - Forward transactions (future settlement) - Swaps (exchange of principal and interest) - Options (right to buy or sell) FX trading offers various benefits, including: - Facilitating international trade and investment - Enabling currency diversification - Providing hedging opportunities - Offering speculative trading opportunities However, FX trading also involves risks, including: - Market volatility - Leverage risks - Counterparty risks - Regulatory risks In conclusion, the FX market plays a vital role in facilitating global trade and investment. Understanding the complexities of the FX market is essential for businesses, investors, and individuals navigating the global economy." Let me know if you want me to make any changes!
    • Thanks, @KoketsoIG. I'm only confused because when I wrote to the helpdesk on 6th June, they sent me a document called FX_TIERED_MARGIN_RETAIL which they said was a list of the new margin requirements that would come into effect on 11th June. It shows (Tier 1) EUR/TRY 5% and TRY/JPY 5% I think they must have sent the wrong document. Could you give me a link to the place on the website that has an up to date table of margin requirements? Best wishes, Cate  
    • Cookie3 is making waves with its MarketingFi and data AI protocol, aiming to revolutionize Web3 marketing by rewarding users. But before you start building your Cookie3 score, let's explore what other projects are shaking things up in the world of Web3 marketing and data ownership. The Graph (GRT), this project allows developers to build decentralized applications (dApps) powered by user-generated data, creating a more transparent and community-driven marketing landscape. Basic Attention Token (BAT), built on the Brave browser, BAT rewards users for their attention by offering them tokens for viewing privacy-focused ads. So what do you think? Is Cookie3 a revolutionary force in Web3 marketing cause they got listed on Bitget, or just one piece of the puzzle? Have you explored any other Web3 marketing or data ownership projects? Share your thoughts in the comments!
  • Create New...