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By tradinglounge · Posted
NESTLE INDIA – NESTLEIND (1D Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate degree, orange) Mode: Motive Structure: Impulse Position: Minute Wave ((iii)) Navy Details: Minute Wave ((iii)) Navy, progressing within Minor Wave 5 Grey of Intermediate Wave (5) Orange against 2450 level. Potential target is seen towards 3050. Invalidation point: 2450 NESTLE India Daily Chart Technical Analysis and potential Elliott Wave Counts: NESTLE India daily chart is progressing higher to terminate its fifth wave at multiple degrees as marked here with potential target towards 3050 mark. The stock is subdividing within Minor Wave 5 Grey as Minute Wave ((iii)) poised to push through 2900 zone. The stock carved a low around 1600 in May 2022, Intermediate Wave (4) Orange. The subsequent rally has subdivided into five Minor Waves 1 through 5, with bulls progressing within the last leg against 2330; Minor Wave 4 low registered on June 04, 2024. If the above holds well, the stock is now unfolding Minor Wave 5 and is within Minute Wave ((iii)) at the time of writing. Prices should ideally stay above 2600 levels to hold the above impulse. NESTLE INDIA – NESTLEIND (4H Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate degree, orange) Mode: Motive Structure: Impulse Position: Minute Wave ((iii)) Navy Details: Minute Wave ((iii)) Navy, progressing within Minor Wave 5 Grey of Intermediate Wave (5) Orange against 2450 level. Potential target is seen towards 3050. Furthermore, Minuette Waves (i) through (v) Orange, are unfolding to complete Minute Wave ((iii)) Navy towards 2910. Invalidation point: 2450 NESTLE India 4H Chart Technical Analysis and potential Elliott Wave Counts: NESTLE India 4H chart highlights the sub waves within Minor Wave 4 between 2770 and 2600, a potential zigzag at Minute degree. Further Minute Wave ((ii)) within Minor Wave 5 was a combination. The recent price action suggests Minute Wave ((iii)) progressing higher towards 2900-10 zone against 2450. Conclusion: NESTLE India is progressing higher towards 3050 levels as Minute Wave ((iii)) Navy unfolds within Minor Wave 5 Grey of Intermediate Wave (5) Orange against 2450. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
Swiss Market Index Elliott Wave Analysis Trading Lounge Day Chart Swiss Market Index Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: gray wave 2 POSITION: orange wave 3 DIRECTION NEXT HIGHER DEGREES: gray wave 3 DETAILS: Gray wave 1 has been completed, and now gray wave 2 is in play. Wave Cancel Invalid Level: 11,419.25 The Swiss Market Index (SMI) Elliott Wave Analysis for the daily chart indicates a counter-trend movement, suggesting that the market is currently undergoing a correction against the main trend. The mode of this movement is corrective, implying that this phase is a temporary retracement rather than a continuation of the larger trend. The structure being analyzed is gray wave 2, which follows the completion of gray wave 1. At this stage, the market is positioned in orange wave 3 within the overall corrective structure of gray wave 2. Gray wave 1 has already been completed, and now gray wave 2 is in progress. In Elliott Wave Theory, wave 2 typically corrects part of wave 1's movement, meaning the market is temporarily retracing some of the gains made during gray wave 1. This suggests that the current counter-trend phase is not expected to last indefinitely and that the larger trend will likely resume once gray wave 2 completes. The next higher-degree movement expected is gray wave 3, which should follow the completion of gray wave 2. Wave 3 is usually an impulsive wave, marking a strong and sustained move in the direction of the main trend. This indicates that after the current corrective phase, the market is likely to experience a more significant upward movement. A crucial invalidation level for this analysis is 11,419.25. If the market falls below this point, the current Elliott Wave analysis would be invalid, meaning that the counter-trend structure would no longer hold, and a new wave analysis would be needed. Monitoring this level is essential for traders. In summary, the SMI Elliott Wave Analysis shows a corrective counter-trend phase with gray wave 2 in progress. Traders should watch the invalidation level of 11,419.25 to determine if the corrective phase remains valid. Once gray wave 2 completes, gray wave 3 is expected to resume the primary trend. Swiss Market Index Elliott Wave Analysis Trading Lounge Weekly Chart Swiss Market Index Elliott Wave Technical Analysis FUNCTION: Bullish Trend MODE: Impulsive STRUCTURE: orange wave 3 POSITION: navy blue wave 3 DIRECTION NEXT HIGHER DEGREES: orange wave 3 (started) DETAILS: Orange wave 2 has been completed, and now orange wave 3 is in play. Wave Cancel Invalid Level: 11,419.25 The Swiss Market Index (SMI) Elliott Wave Analysis for the weekly chart shows a bullish trend, indicating strong upward momentum in the market. The current mode is impulsive, meaning the market is moving decisively in the direction of the trend. The structure being analyzed is orange wave 3, which is a key part of this ongoing bullish movement. The market is currently positioned in navy blue wave 3, within the larger framework of orange wave 3. Following the completion of orange wave 2, orange wave 3 has now begun. In Elliott Wave Theory, wave 3 is typically the most powerful and extended wave in an impulsive sequence, suggesting that the market is poised for significant upward movement as orange wave 3 progresses. This upward momentum is likely to continue as wave 3 tends to drive strong trends. The next anticipated movement will be a continuation of orange wave 3, as it has just started. Since wave 3 is generally a strong, trend-defining phase, further gains are expected before any corrective waves might occur. The invalidation level to watch is 11,419.25. If the market falls below this level, the current Elliott Wave analysis would be invalid, and a reassessment of the wave structure would be necessary. This level is critical for confirming the validity of the ongoing bullish trend. In summary, the SMI Elliott Wave Analysis for the weekly chart signals a strong bullish trend, with orange wave 3 leading the market higher. Traders should monitor the invalidation level of 11,419.25 closely, as staying above this level confirms the strength of the upward movement. The bullish momentum is expected to persist as orange wave 3 continues to unfold. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
EURUSD Elliott Wave Analysis Trading Lounge Day Chart Euro/ U.S. Dollar (EURUSD) Day Chart EURUSD Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Orange wave 2 POSITION: Navy blue wave 3 DIRECTION NEXT HIGHER DEGREES: Orange wave 3 DETAILS: Orange wave 1 appears completed, and now orange wave 2 is in play. Wave Cancel Invalid Level: 1.06678 The EURUSD Elliott Wave Analysis for the daily chart reveals a counter-trend phase, indicating that the market is moving against the dominant trend. This movement is classified as corrective, suggesting that the market is undergoing a temporary retracement. The current structure being analyzed is orange wave 2, which follows the completion of orange wave 1. The market is positioned in navy blue wave 3, while the corrective phase of orange wave 2 is currently unfolding. After orange wave 1, the corrective orange wave 2 has begun to develop. In Elliott Wave Theory, wave 2 is typically a retracement that moves against the initial wave 1, correcting part of the earlier upward or downward movement. This correction implies that the counter-trend phase is temporary and that the primary trend is likely to resume after orange wave 2 is complete. Following the completion of orange wave 2, the next anticipated movement is orange wave 3, which will likely be impulsive and mark a return to the primary trend. Wave 3 tends to be a strong and extended wave, suggesting a potential for significant market movement once the corrective phase ends. A key level to monitor is 1.06678, the wave cancel invalidation point. If the market moves below this level, the current Elliott Wave analysis would be invalid, and the structure would need to be reevaluated. This level helps determine whether the counter-trend correction remains valid or whether a new trend is emerging. Summary The EURUSD Elliott Wave Analysis indicates that the market is in a corrective phase with orange wave 2 in progress. Traders should watch the invalidation level of 1.06678 to confirm whether the correction continues. Once orange wave 2 completes, orange wave 3 is expected to bring a resumption of the primary trend. Euro/ U.S. Dollar (EURUSD) 4 Hour Chart EURUSD Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Orange wave 2 POSITION: Navy blue wave 3 DIRECTION NEXT HIGHER DEGREES: Orange wave 3 DETAILS: Orange wave 1 appears to be completed, and now orange wave 2 is in play. Wave Cancel Invalidation Level: 1.06678 The EURUSD Elliott Wave Analysis for the 4-hour chart indicates a counter-trend, suggesting a temporary movement against the prevailing trend. The mode of this movement is corrective, meaning the market is undergoing a retracement or correction. The current structure being analyzed is orange wave 2, which follows the completion of orange wave 1. The market is positioned in navy blue wave 3, within the larger framework of the corrective orange wave 2. After the completion of orange wave 1, the corrective phase of orange wave 2 has begun. In Elliott Wave Theory, wave 2 is typically a corrective wave that retraces part of wave 1’s movement before the trend resumes. This suggests that the current correction is temporary and that the market may soon return to the direction of the larger trend once orange wave 2 completes. The next expected movement is orange wave 3, which would signal a return to the larger trend direction following the completion of orange wave 2. As wave 3 tends to be a strong impulsive wave in the Elliott Wave sequence, it indicates that a significant movement could follow after the correction is over. An important level to monitor is 1.06678, which serves as the wave cancel invalidation point. If the market falls below this level, the current Elliott Wave analysis would be invalid, and the corrective structure would need to be reassessed. This level helps determine whether the counter-trend correction is still in play. Summary The EURUSD Elliott Wave Analysis suggests a corrective counter-trend phase with orange wave 2 in progress. Traders should watch the invalidation level of 1.06678 to confirm whether the correction remains valid. Once orange wave 2 completes, orange wave 3 is expected to drive the market back in the direction of the larger trend. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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Question
AGRIPPAH-
Hi,
I Can't login to TradingView's IG broker and get an error saying its unauthorised instead.
Is there a way to fix this currently or am I making a mistake?
Thanks,
Josh
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