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By tradinglounge · Posted
NIKKEI 225 (N225) Elliott Wave Analysis Day Chart NIKKEI 225 (N225) Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Navy blue wave 2 POSITION: Gray wave 3 DIRECTION NEXT HIGHER DEGREES: Navy blue wave 3 DETAILS: Navy blue wave 1 appears completed, and currently, navy blue wave 2 is unfolding. Wave Cancel Invalid Level: 30,380 The Nikkei 225 Elliott Wave analysis on the day chart points to a corrective counter-trend movement. The analysis shows that the market is now in navy blue wave 2, which is part of a broader corrective pattern. Navy blue wave 1 has been completed, signaling that the initial phase of the larger wave structure has concluded, and the market has transitioned into the corrective phase represented by navy blue wave 2. Elliott Wave theory suggests that after wave 1 completes, a counter-trend correction typically follows, which is evident with the development of navy blue wave 2. This phase represents a temporary retracement or consolidation within the prevailing trend, allowing the market to pause before continuing its previous momentum. The corrective nature of navy blue wave 2 implies that this wave is moving against the direction of the earlier impulse wave (navy blue wave 1). Upon completion of this corrective phase, it is expected that navy blue wave 3 will resume the primary trend. Wave 3, according to Elliott Wave theory, is typically the most significant and prolonged wave in the cycle, often resulting in major market shifts. The wave cancel invalid level is set at 30,380. If the market price exceeds this level, the current Elliott Wave count would be invalid, and the corrective pattern would need reassessment. However, as long as the price remains below this threshold, the counter-trend correction of navy blue wave 2 is expected to continue. Conclusion: The Nikkei 225 day chart highlights that a corrective counter-trend in navy blue wave 2 is in progress, following the conclusion of navy blue wave 1. This bearish correction should persist unless the price surpasses the invalidation level of 30,380. NIKKEI 225 (N225) Elliott Wave Analysis Weekly Chart NIKKEI 225 (N225) Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Navy blue wave 2 POSITION: Gray wave 3 DIRECTION NEXT HIGHER DEGREES: Navy blue wave 3 DETAILS: Navy blue wave 1 appears completed, and currently, navy blue wave 2 is unfolding. Wave Cancel Invalid Level: 30,380 The Nikkei 225 Elliott Wave analysis on the weekly chart shows the market is in a counter-trend corrective phase. This phase is represented by the development of navy blue wave 2, following the completion of navy blue wave 1. The analysis indicates that the initial impulsive wave, navy blue wave 1, has concluded, and the market is now correcting within navy blue wave 2. According to Elliott Wave theory, after a strong impulsive wave, a corrective phase usually follows, allowing the market to retrace some prior gains before resuming the next trend phase. In this scenario, navy blue wave 2 represents this corrective movement, which is contrary to the dominant trend set by navy blue wave 1. Navy blue wave 2 is classified as corrective, indicating it is moving against the trend established by navy blue wave 1. This phase provides a period of consolidation or a pullback before the market is expected to resume its upward trajectory with the onset of navy blue wave 3. Elliott Wave theory suggests that wave 3 is often the strongest and most substantial wave in a cycle, likely resulting in a sharp upward movement after the corrective phase of wave 2 completes. The wave cancel invalid level is set at 30,380. If the price rises above this level, the current wave count would be invalidated, and the wave structure would need reassessment. As long as the price stays below this threshold, the corrective phase of navy blue wave 2 is expected to continue. Summary: The Nikkei 225 is presently in a counter-trend corrective phase, represented by navy blue wave 2, following the completion of navy blue wave 1. The market is expected to resume its upward trend with navy blue wave 3 after the corrective phase ends, unless the invalidation level of 30,380 is exceeded. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
Hi @AleAnt, Did you try the steps below? -
By tradinglounge · Posted
British Pound/Australian Dollar (GBPAUD) Day Chart Analysis Elliott Wave Technical Analysis for GBPAUD: Trend: Bearish Mode: Impulsive Structure: Navy blue wave 3 Next Lower Degree: Navy blue wave 3 (in progress) Analysis Summary: The GBPAUD Elliott Wave analysis for the day chart reveals a bearish trend, indicating that the market is currently in an impulsive phase. This suggests a continuation of the downward price movement in line with the prevailing trend. The current structure being analyzed is navy blue wave 3, which follows the completion of navy blue wave 2. Completion of Navy Blue Wave 2: The corrective phase of navy blue wave 2 has finished, and navy blue wave 3 has now commenced. This wave typically represents a strong, extended movement in the direction of the trend, which, in this case, is downward. Navy Blue Wave 3 Characteristics: In Elliott Wave theory, wave 3 often exhibits the highest momentum, leading to significant price declines. As navy blue wave 3 has just started, the British Pound is expected to continue weakening against the Australian Dollar. This wave is likely to show acceleration in the downward movement, reflecting increased bearish sentiment in the market. Wave Cancel Invalid Level: The wave invalidation level is set at 970.50. If the price rises above this level, the current wave count would be invalidated, prompting a reconsideration of the bearish outlook. As long as the price remains below this invalidation level, the bearish trend is expected to persist, with navy blue wave 3 continuing to drive the price lower. Key Takeaways: Trend: Bearish Structure in Play: Navy blue wave 3 Invalidation Level: 970.50 (price above this level cancels the current bearish wave count) Market Expectation: Continued downward movement unless the price breaks the invalidation level. In conclusion, the GBPAUD day chart points to a bearish trend with the impulsive navy blue wave 3 currently underway. The trend is expected to continue unless the price surpasses the invalidation level of 970.50. British Pound/Australian Dollar (GBPAUD) 4-Hour Chart Analysis Elliott Wave Technical Analysis for GBPAUD: Trend: Bearish Mode: Impulsive Structure: Orange wave 3 Position: Navy blue wave 3 Next Lower Degree: Orange wave 3 (in progress) Analysis Summary: The GBPAUD Elliott Wave analysis for the 4-hour chart points to a bearish trend, with the market currently in an impulsive phase. The structure being observed is orange wave 3, which started after the completion of orange wave 2. This implies that the corrective phase of orange wave 2 has concluded, and the market is now moving downward with the impulsive orange wave 3. Orange Wave 3 Characteristics: Orange wave 3 represents a strong and extended move in the direction of the bearish trend. In Elliott Wave theory, wave 3 typically exhibits the most prolonged and powerful movement, indicating that the British Pound may continue to weaken against the Australian Dollar. Navy Blue Wave 3 Support: This movement is part of a broader structure, with navy blue wave 3 also progressing. The alignment between orange wave 3 and navy blue wave 3 strengthens the bearish outlook, suggesting further downside momentum for the GBPAUD pair. Wave Cancel Invalid Level: The invalidation level for the current wave count is set at 970.50. If the price moves above this level, the bearish wave structure would be invalidated, possibly signaling a trend reversal. However, as long as the price remains below this point, the bearish trend in orange wave 3 is expected to continue. Key Takeaways: Trend: Bearish Structure in Play: Orange wave 3 Invalidation Level: 970.50 (above this level invalidates the current wave count) Market Expectation: Continued downward movement unless the price breaks the invalidation level. In conclusion, the GBPAUD 4-hour chart shows an ongoing bearish trend, with orange wave 3 in progress after the completion of orange wave 2. The downward trend is expected to persist unless the price breaks above the invalidation level of 970.50. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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