The TJX Companies Inc. (TJX) Stocks Elliott Wave Technical Analysis

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TJX Elliott Wave Analysis Trading Lounge Daily Chart,

The TJX Companies Inc., (TJX) Daily Chart 

TJX Elliott Wave Technical Analysis

FUNCTION: Trend 

MODE: Impulsive 

STRUCTURE: Motive 

POSITION: Wave {v} of 3.  

DIRECTION: Top in wave {v}. 

DETAILS: Looking for further upside into wave {v}, knowing we could also have a top in wave {v} in place, and we are now entering a deeper correction in Minor wave 4.

 

TJX Elliott Wave Analysis Trading Lounge 4H Chart,

The TJX Companies Inc., (TJX) 4H Chart 

TJX Elliott Wave Technical Analysis

FUNCTION: Trend 

MODE: Impulsive 

STRUCTURE: Motive 

POSITION: Sub minuette wave c.  

DIRECTION: Bottom in wave c.  

DETAILS: Looking for one more leg lower into wave c, as volume seems to be suggesting buyer may be entering the market.

 
Welcome to our latest Elliott Wave analysis for The TJX Companies Inc. (TJX). This analysis provides an in-depth look at TJX's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on TJX's market behavior. 

* TJX Elliott Wave Technical Analysis – Daily Chart* 

We are looking for further upside into wave {v}, acknowledging the possibility that a top in wave {v} might already be in place. This scenario would imply an imminent deeper correction in Minor wave 4. Traders should be cautious and watch for signs of a potential top forming. 

* TJX Elliott Wave Technical Analysis – 4H Chart* 

The 4-hour chart indicates the potential for one more leg lower into wave c. Volume analysis suggests that buyers may be entering the market, which could signify a bottom forming in wave c. This would align with the anticipated completion of the corrective structure, leading to a resumption of the upward trend.

 

Technical Analyst : Alessio Barretta

Source : Tradinglounge.com get trial here!

 

 

Edited August 8 by tradinglounge