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By tradinglounge · Posted
Hang Seng Index Elliott Wave Analysis (Daily Chart) FUNCTION: Trend MODE: Impulsive STRUCTURE: Gray Wave 3 POSITION: Orange Wave 3 DIRECTION (Next Lower Degrees): Gray Wave 4 DETAILS: Gray Wave 2 completed; Gray Wave 3 in progress Wave Invalidation Level: 16,928.83 The Hang Seng Index Elliott Wave analysis for the daily chart suggests an impulsive trend, indicating strong directional movement. The structure currently under analysis is Gray Wave 3, part of the ongoing upward trend. This phase reflects a significant market advance. At the moment, the Hang Seng Index is positioned in Orange Wave 3, aligned with the larger degree Gray Wave 3. The recent completion of Gray Wave 2 sets the stage for Gray Wave 3 to develop further, continuing the upward trend. In Elliott Wave Theory, Wave 3 is often the most dynamic and extended wave within an impulsive sequence, indicating that the market's upward movement will likely strengthen as Gray Wave 3 progresses. The next expected phase will be Gray Wave 4, a corrective wave that typically follows the completion of Wave 3. However, since Gray Wave 3 is still in progress, the market is anticipated to continue moving higher before any correction begins. This suggests the current upward momentum will persist in the short term. A key level to watch is the invalidation point of 16,928.83. If the market dips below this level, the current Elliott Wave analysis would be considered invalid, and the outlook on the trend would need to be reassessed. This invalidation level is crucial for traders, as it confirms whether the current trend remains intact. Summary The Hang Seng Index Elliott Wave analysis indicates a continuing impulsive trend, driven by Gray Wave 3. Traders should monitor the invalidation level of 16,928.83. As long as the market stays above this point, the bullish trend remains strong. A drop below this level would suggest the need for a re-evaluation of the market's direction. Hang Seng Index Elliott Wave Analysis (Weekly Chart) FUNCTION: Trend MODE: Impulsive STRUCTURE: Orange Wave 3 POSITION: Navy Blue Wave 3 DIRECTION (Next Lower Degrees): Orange Wave 4 DETAILS: Orange Wave 2 completed; Orange Wave 3 in progress Wave Invalidation Level: 16,928.83 The Hang Seng Index Elliott Wave analysis for the weekly chart suggests an impulsive trend, indicating strong directional movement in the market. The structure currently being analyzed is Orange Wave 3, which forms a crucial part of the ongoing upward trend. This wave signals a continuation of the upward movement with significant momentum. At present, the index is positioned in Navy Blue Wave 3, which aligns with the larger structure of Orange Wave 3. The recent completion of Orange Wave 2 has paved the way for the development of Orange Wave 3. According to Elliott Wave Theory, Wave 3 is typically the strongest and most extended phase within an impulsive trend, suggesting that the market will likely continue its upward trajectory as Orange Wave 3 unfolds. The next anticipated phase is Orange Wave 4, a corrective wave that generally follows the completion of Wave 3. However, since Orange Wave 3 is still in progress, the bullish movement is expected to persist in the near term before any correction begins. A critical level to watch is 16,928.83, which serves as the wave cancel invalidation point. If the market falls below this level, the current Elliott Wave analysis would be invalidated, requiring a re-evaluation of the trend. This invalidation level is key for traders, as it confirms whether the upward trend remains intact. Summary The Hang Seng Index Elliott Wave analysis for the weekly chart indicates a continued impulsive trend, driven by Orange Wave 3. Traders should closely monitor the 16,928.83 invalidation level. As long as the market stays above this point, the bullish trend is expected to persist. A drop below this level would necessitate a reassessment of the market's direction. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
Hey everyone. I'm super excited about Unioverse's upcoming $UNIO listing on Bitget. As a blockchain-based gaming platform, Unioverse is revolutionizing the way we game by allowing us to earn, own, and trade in-game assets. With NFTs and blockchain tech, we get full ownership and can even participate in the platform's governance. Some of the coolest features include creating and owning unique digital assets, building guilds, minting hero NFTs, customizing rare items, and even insuring our valuable game objects. Plus, staking Unio Coins gives us access to platform data and promotions, which is pretty awesome. The exchange listing on September 30, 2024, is following a successful public sale and listing on MEXC, so we're expecting some serious liquidity and price discovery. And with a total airdrop pool of 8,570,000 UNIO through events like PoolX and Candybomb, the hype is real. This listing is definitely going to boost Unioverse's visibility and user engagement. Can't wait to see how this unfolds. -
By tradinglounge · Posted
GBPAUD Elliott Wave Analysis Trading Lounge Day Chart British Pound/Australian Dollar (GBPAUD) Day Chart GBPAUD Elliott Wave Technical Analysis Function: Bearish Trend Mode: Impulsive Structure: Orange wave 3 Position: Navy blue wave 3 Direction Next Lower Degrees: Orange wave 4 The GBPAUD Elliott Wave Analysis for the daily chart reveals a bearish trend, suggesting that the British Pound is weakening against the Australian Dollar. This trend is classified as impulsive, which means the market is experiencing strong downward momentum. The focus is on orange wave 3, a significant part of the ongoing bearish movement. The market is positioned within navy blue wave 3, which forms part of the larger downward trend. After the completion of orange wave 2, the market has now transitioned into orange wave 3, maintaining the downtrend. In Elliott Wave Theory, wave 3 in an impulsive sequence is typically the most powerful and extended, indicating that the bearish trend is strengthening as orange wave 3 progresses. The next anticipated movement is orange wave 4, which will represent a corrective phase once orange wave 3 completes. However, as of now, orange wave 3 is still active, and the market is expected to continue its downward trajectory before any correction occurs. This suggests that bearish momentum is likely to persist in the near term. A critical level to observe is 1.95855, which acts as the wave cancel invalidation point. If the market rises above this level, the current Elliott Wave analysis will be invalidated, requiring a reassessment of the market's wave structure. This invalidation point is crucial for traders, as it confirms whether the downtrend remains intact. Summary The GBPAUD Elliott Wave analysis points to a strong bearish trend, with orange wave 3 driving further declines. Traders should carefully monitor the invalidation level of 1.95855. Any movement above this level would invalidate the current analysis, potentially shifting the market outlook. Until then, the bearish trend is expected to continue unless this key level is breached. British Pound/Australian Dollar (GBPAUD) 4-Hour Chart GBPAUD Elliott Wave Technical Analysis Function: Bearish Trend Mode: Impulsive Structure: Gray wave 3 Position: Orange wave 3 Direction Next Higher Degrees: Gray wave 4 The GBPAUD Elliott Wave Analysis for the 4-hour chart indicates a bearish trend, suggesting a downward movement for the British Pound against the Australian Dollar. This trend is classified as impulsive, meaning the market is moving strongly in the direction of the trend. The primary focus of the analysis is on gray wave 3, which is driving this bearish movement. Currently, the market is positioned within orange wave 3, which is part of the overall downward structure. Following the completion of gray wave 2, the market has entered gray wave 3, signaling a continuation of the bearish trend. In Elliott Wave Theory, wave 3 is usually the strongest in an impulsive sequence, indicating that the downtrend is gaining momentum as gray wave 3 progresses. The next expected movement is gray wave 4, representing a corrective phase after the completion of wave 3. However, at this stage, gray wave 3 is still active, and the market is expected to continue moving lower before any corrective movement begins. A critical level to monitor is 1.94868, which serves as the wave cancel invalidation point. If the market rises above this level, the current Elliott Wave analysis would be invalidated, and a reassessment of the wave structure would be necessary. This level is vital for traders as it confirms whether the bearish trend remains intact. Summary The GBPAUD Elliott Wave analysis for the 4-hour chart suggests a continued bearish trend, with gray wave 3 leading the downward movement. Traders should closely monitor the invalidation level of 1.94868, as any movement above this point would invalidate the current analysis. Until then, the bearish trend is expected to persist with further downside potential. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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