Bitcoin Crypto Price News Today Elliott Wave Technical Analysis
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By tradinglounge · Posted
CIPLA – CIPLA (1D Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate Degree Orange) Mode: Motive Structure: Impulse Position: Minor Wave 5 Grey Details: Minor Wave 5 Grey is progressing higher towards 1758, within Intermediate Wave (5) Orange against 1472. Invalidation point: 1472 CIPLA Daily Chart Technical Analysis and potential Elliott Wave Counts: CIPLA daily chart is indicating a continued push higher through 1758-60 zone going forward. This would terminate Minor Wave 5 Grey of Intermediate Wave (5) Orange and complete the uptrend at larger degree. Bears are expected to be back thereafter and a break below 1470 will confirm. CIPLA is near to completing its Intermediate Wave (5) Orange after having sub divided into five waves since its low around 850-55 registered in March 2023. Minor Waves 1 through 5 are almost complete as the final leg is underway to print around 1758 mark. If the above holds well, the stock should ideally react around 1760 and turn lower as bears gain control back. Furthermore, a break below 1470-72, Minor Wave 4 Grey termination, would confirm the trend has turned lower. CIPLA – CIPLA (4H Chart) Elliott Wave Technical Analysis Function: Larger Degree Trend Higher (Intermediate Degree Orange) Mode: Motive Structure: Impulse Position: Minor Wave 5 Grey Details: Minor Wave 5 Grey is progressing higher towards 1758, within Intermediate Wave (5) Orange against 1472. Minute Wave ((v)) Grey might be underway now, as bulls attempt a last rally. Invalidation point: 1472 CIPLA 4H Chart Technical Analysis and potential Elliott Wave Counts: CIPLA 4H chart is also indicating that Minute Wave ((v)) Navy of Minor Wave 5 Grey within Intermediate Wave (5) Orange cold be now underway after Minute Wave ((iv)) terminated around 1600-05 range. If the above is correct, prices should raise through 1758 mark at least as projected by the fibonacci 0.618 extension here. Conclusion: CIPLA is progressing towards 1758 as Minor Wave 5 Grey of Intermediate Wave (5) Orange prepares to terminate. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here! -
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By tradinglounge · Posted
USDJPY Elliott Wave Analysis Trading Lounge Day Chart U.S. Dollar / Japanese Yen (USDJPY) Day Chart USDJPY Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Orange Wave 4 Position: Navy Blue Wave 1 Direction Next Lower Degrees: Orange Wave 5 Details: Orange Wave 3 appears complete, with Orange Wave 4 currently in play. The USDJPY Day Chart, analyzed with Elliott Wave theory, shows the market in a corrective phase, which represents a counter-trend move. The observed structure is Orange Wave 4, a temporary correction phase within the larger trend, typically following an impulsive wave. The market's current position is within Navy Blue Wave 1, signaling the beginning of a new wave cycle. Navy Blue Wave 1 suggests that the next significant movement will be to the downside as Orange Wave 4 advances toward Orange Wave 5. According to the analysis, Orange Wave 3 has completed, marking the end of an upward impulsive move. Orange Wave 4 is now active, indicating a corrective phase consistent with typical wave 4 behavior. Upon completion of Orange Wave 4, the market is expected to transition into Orange Wave 5, resuming the overall upward trend within the wave cycle. Orange Wave 5 will act as the final impulsive wave in this sequence, completing the broader wave structure. In summary, the USDJPY Day Chart reflects a corrective phase in Orange Wave 4, following the conclusion of Orange Wave 3. The market is positioned within Navy Blue Wave 1, suggesting the beginning of a new wave cycle. After Orange Wave 4 concludes its correction, the chart anticipates a move into Orange Wave 5, continuing the overall upward trend. The current focus is on the completion of Orange Wave 4 before the next impulsive upward move begins with Orange Wave 5. U.S. Dollar / Japanese Yen (USDJPY) 4-Hour Chart USDJPY Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Orange Wave 4 Position: Navy Blue Wave 1 Direction Next Lower Degrees: Orange Wave 5 Details: Orange Wave 3 appears completed, with Orange Wave 4 now in progress. The USDJPY 4-Hour Chart, based on Elliott Wave principles, indicates the market is currently in a corrective phase, representing a counter-trend move within the broader wave structure. The present structure being observed is Orange Wave 4, which follows an impulsive wave and typically serves as a corrective phase. According to the analysis, the market is positioned within Navy Blue Wave 1, indicating the early stages of a new wave cycle. This wave sets the groundwork for future price movements within the cycle, with the next expected direction leading toward Orange Wave 5, once Orange Wave 4 finishes its corrective action. The analysis details suggest that Orange Wave 3 has likely reached its conclusion. Following this impulsive wave, Orange Wave 4 is now unfolding and is expected to bring a temporary counter-trend correction before the market resumes its bullish trend into Orange Wave 5. When Orange Wave 5 begins, it will extend the upward trend and complete this wave sequence. In summary, the USDJPY 4-Hour Chart reflects a corrective phase with Orange Wave 4 currently in progress. The completion of Orange Wave 3 has paved the way for this correction, and the market is preparing for the next impulsive wave, Orange Wave 5. Navy Blue Wave 1 indicates the initial phase of a broader wave structure, and once Orange Wave 4 completes, an upward move into Orange Wave 5 is anticipated. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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