What Level of Xx% Can BGB Holders Anticipate?
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By tradinglounge · Posted
Copper Elliott Wave Analysis Function - Counter-Trend Mode - Impulse wave a of (IV) Structure - IMpulse wave Position -Wave (3) of 5 (circled) Direction - Wave (4) Details - The decline from 20th May is better suited for an impulse structure. Thus, the price is expected to drop lower to complete the cycle degree wave a. It’s currently in wave 5 (circled) of the cycle degree, close to completing an ending diagonal structure. Since 17th May 2024, Copper has shed nearly 15% as it corrects the strong rally from October 2023. The correction from May 2024 appears to go much deeper to complete at least a 3-swing chart structure. However, the long-term trend still supports the upside but buyers should not be in a hurry. Meanwhile, before the decline continues, the commodity could make a minor bounce, correcting the current sell-off from 17th May 2024. In the long term, it appears that the price is in a bullish corrective cycle - wave A-B-C of the grand supercycle degree. Wave B completed a triangle structure that lasted 17 months when it ended in April 2022. Since then, a bullish diagonal structure has emerged for wave C of the supercycle degree. Thus, the long-term trend still supports buyers. However, there will be some sharp pullbacks in between. On the daily chart, the diagonal completed its 3rd sub-wave, wave (III) of the supercycle degree in May 2024. A decline for wave (IV) ensued and is currently ongoing. Wave (IV) is expected to complete a corrective structure - ABC or WXY. Wave a of (IV) is close to completion and thus a resurgence for wave b of (IV) could follow. The H4 chart shows how far wave a of (IV) has gone and how further it could go before it’s concluded and b begins upwards. On the H4 chart, the sell-off from May 2024 is emerging into an impulse wave for wave 5 (circled) of a. Currently at the sub-waves (4) of a diagonal wave 5 (circled) which is expected to be the last leg. If the diagonal concludes as expected, then sellers should be wary of a corrective surge. However, buyers shouldn’t get over-ambitious as the rally will most likely be corrective, leading to another round of sell-offs before wave (IV) ends and the price starts pushing upside for wave (V) in the long term. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here! -
By ryanair737 · Posted
I'm hoping someone can help me to understand what causes huge spikes in the spread and how best to trade and avoid being caught out in them. I've attached some screenshots of Wesfarmers LTD, a stock in the ASX. When you look at the ask price for 11am 04.12.2023 there is a massive spike in price however the bid price barely moves at all. This would have wiped out any short positions and probably wiped out their entire account as it would have gapped past their stop and then been executed. There is no increase in volume and the market had already been open for one hour before the price change. There was also no earnings or other factors that I can find online which would explain the price move. Can anyone in the forum please help me to understand what the reason is for these type of fluctuations in the spread that only last a minute or so? I've attached screenshots of the bid/ask price for the daily and the 5-minute range. Thanks T -
By tradinglounge · Posted
AAPL Elliott Wave Analysis Trading Lounge Daily Chart, Apple Inc., (AAPL) Daily Chart AAPL Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave 3 DIRECTION: Upside in wave 3 DETAILS: Looking for a five wave subdivision into wave 3 as we seem to have completed wave {i} of 3 after successfully breaking above TL2 at 200$. AAPL Elliott Wave Analysis Trading Lounge 4Hr Chart, Apple Inc., (AAPL) 4Hr Chart AAPL Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave DIRECTION: Bottom in wave {ii}. DETAILS: Here we are investigating into wave {ii}, as there is a possibility wave {ii} is yet to complete and we could see one more leg lower towards 200$. This Elliott Wave analysis of Apple Inc. (AAPL), provides insights into the stock’s current market structure and potential price movements. The analysis examines both the daily and 4-hour charts to understand the trends and forecasts for AAPL's price action. * AAPL Elliott Wave Technical Analysis – Daily Chart* AAPL is currently developing a five-wave subdivision within wave 3. The stock appears to have completed wave {i} of 3 after breaking above the significant trendline resistance at 200$. The confirmation of the break above this level supports the bullish outlook for wave 3. The subsequent subdivisions of wave 3 should include minor waves that continue to push higher. * AAPL Elliott Wave Technical Analysis – 4Hr Chart* The current analysis indicates that wave {ii} is either nearing completion or has the potential for one more leg lower. This wave {ii} is a pullback phase that may target levels close to 200$, providing a corrective consolidation before the resumption of the uptrend in wave {iii} of 3. Traders should look for signs of a bottom in wave {ii} as an opportunity to enter positions for the anticipated continuation higher. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!
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