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By tradinglounge · Posted
USDCHF Elliott Wave Analysis Trading Lounge Day Chart, U.S. Dollar / Swiss Franc (USDCHF) Day Chart USDCHF Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Orange wave 1 POSITION: Navy blue wave 1 DIRECTION NEXT LOWER DEGREES: Orange wave 2 DETAILS: Orange wave 1 of navy blue wave 1 is still active, forming as a leading diagonal, and is nearing its completion. Wave Cancel invalid level: 0.83765 The USDCHF Elliott Wave analysis for the daily chart points to a bullish trend, characterized by an impulsive wave structure. The focus is on orange wave 1, which is a part of the larger navy blue wave 1. At present, orange wave 1 of navy blue wave 1 remains active and is developing into a leading diagonal pattern. This pattern suggests that the market is in the early stages of an upward trend, with the leading diagonal approaching its completion. The impulsive behavior of orange wave 1 reflects strong upward momentum in the market, which is typically seen at the beginning of a broader trend. As orange wave 1 nears its completion, the next anticipated movement is expected to be a corrective phase, unfolding as orange wave 2. This correction would likely bring a temporary pullback in price, offering the market an opportunity to consolidate before continuing its upward trajectory with subsequent waves. The invalidation level for this wave structure is marked at 0.83765. If the price drops below this level, the current Elliott Wave count will be invalidated, necessitating a re-evaluation of the overall trend. However, as long as the price remains above this threshold, the impulsive wave structure will stay valid, with orange wave 1 expected to conclude soon and orange wave 2 to follow. Summary: The USDCHF pair is in the early phase of an impulsive upward trend, with orange wave 1 of navy blue wave 1 still in progress. The wave is forming as a leading diagonal and is approaching its end. The next movement is likely a correction through orange wave 2. The invalidation level to monitor is 0.83765, as a breach of this level would call for a re-assessment of the wave structure. USDCHF Elliott Wave Analysis Trading Lounge 4 Hour Chart, U.S. Dollar / Swiss Franc (USDCHF) 4 Hour Chart USDCHF Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Orange wave 1 POSITION: Navy blue wave 1 DIRECTION NEXT LOWER DEGREES: Orange wave 2 DETAILS: Orange wave 1 of navy blue wave 1 is still developing as a leading diagonal and is nearing its completion. Wave Cancel invalid level: 0.83765 The USDCHF Elliott Wave analysis for the 4-hour chart reflects a bullish trend with an impulsive wave structure. The focus is on orange wave 1, which is part of the broader navy blue wave 1. Currently, price action shows that orange wave 1 of navy blue wave 1 is still unfolding, forming a leading diagonal pattern. This leading diagonal is approaching its end, suggesting that the market is about to enter the corrective phase marked by orange wave 2. The impulsive nature of orange wave 1 signals strong upward momentum, typically observed during the first wave of a larger trend. As orange wave 1 reaches its completion, a correction is expected in the form of orange wave 2. This corrective move will likely bring a temporary pullback before the larger bullish trend resumes with subsequent waves. The structure and timing of the wave’s completion are crucial for predicting the next phase in USDCHF price movements. A critical part of this analysis is the invalidation level, set at 0.83765. If the price falls below this level, the current Elliott Wave count would be invalidated, necessitating a re-evaluation of the trend. However, as long as the price stays above this key level, the impulsive wave structure remains intact, with orange wave 1 nearing completion and orange wave 2 expected to follow. Summary: USDCHF is in the early stages of an impulsive bullish trend, with orange wave 1 of navy blue wave 1 nearing completion. The next expected phase is a corrective move in the form of orange wave 2. Monitoring the invalidation level at 0.83765 is critical to confirming the current wave structure and ensuring the continuation of the upward trend. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By CryptoChamp · Posted
Ethereum (ETH) has shown impressive recovery in the cryptocurrency market, currently trading around $2,616. After weeks of sluggish performance, this surge marks one of the strongest recoveries in Q4 2024, raising interest in ETH price prediction for the coming days. Reasons Behind the Surge A key factor driving this increase is the rise in open interest. This indicates that more investors and traders are entering the market, which often leads to greater volatility and potential price increases. Ethereum has successfully broken through significant resistance levels that had been holding back its growth for months, bouncing back from support levels around $2,400. Key Price Levels to Watch For a solid uptrend to develop, Ethereum needs to close above the $2,800 liquidation line. While it is still below this level, the overall sentiment remains bullish as long as ETH stays above the local support level at $2,300. On the downside, it's important to keep an eye on the lower support level around $2,100. Also Read: Stellar Price Prediction 2024 - 2030: Will The XLM Coin Reach $1? Recent Performance and Volume As of now, Ethereum’s price action has stabilized, showing nearly a 7% increase over the past day. This rise followed a significant drop on October 14, reversing most of the losses from earlier in the week. Additionally, the average trading volume has increased to over $22 billion. Future Outlook If Ethereum manages to break above the $2,800 mark either today or by the end of the week, it could trigger significant liquidity, pushing ETH to new highs for Q4 2024. Overall, the bulls remain confident about Ethereum's potential in the coming days. -
I have a standard international account. Is Tradingview available for this account type? When I try link the account to tradingview(Premium) I get the following error message:
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