Will Ethereum reach $3,000 this quarter?
-
-
Posts
-
By tradinglounge · Posted
Copper Elliott Wave Analysis Copper retreats lower from the high of September 2024. The fall is correcting the August & September 2024 bullish run. It appears the bullish run will resume after the current sell-off is completed. Daily Chart Analysis From the long term, price is unfolding into a diagonal structure from the lows of March 2020. On the daily chart, wave I of the cycle degree finished in March 2022 before a decline for II that ended in July 2022. Wave III and IV were finished in May 2024 and AUgust 2024 respectively. The current resurgence from the lows of AUgust 2024 is expected to be wave V after which a larger pullbackcan begin to correct the entire diagonal 5-wave structure from March 2020. Wave V is expected to be corrective i.e unfolds in a 3-wave structure. It now appears wave ((A)) of V finished in September 2024 leading to the current pullback for ((B)). The H4 chart can help using the sub-waves to determine how far wave ((B) has gone and further it could go. H4 Chart Analysis On the H4 chart, wave ((A)) completed an impulse 5-wave structure. Current pullback for ((B)) is emerging into a double zigzag structure. By projection, wave (Y) of ((B)) could continue lower to 4.083. If the price doesn’t reach that level and makes a significant 5-waves resurgence toward the highs of October, then we can confirm wave ((B)) has finished and ((C)) on the way. Otherwise. short term appears to favored the down side to 4.083 Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
SMCI Elliott Wave Analysis Trading Lounge Daily Chart, SuperMicro Computers Inc., (SMCI) Daily Chart SMCI Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Flat POSITION: Intermediate (4) DIRECTION: Bottom in wave (4). DETAILS: We are exploring the possibility of a bottom in wave (4) which ended with an ending diagonal in wave C of (4). SuperMicro Computers Inc., (SMCI) 1H Chart SMCI Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (i) of {i} DIRECTION: Upside in wave (i). DETAILS: Here we are looking at what appears to be a nice five wave subdivision within wave (i) where we currently seem to be in the final stages of a triangle in wave iv. This analysis focuses on the current trend structure of SuperMicro Computers Inc., (SMCI) utilizing the Elliott Wave Theory on both the daily and 1-hour charts. Below is a breakdown of the stock's position and potential future movements. * SMCI Elliott Wave Technical Analysis – Daily Chart* On the daily chart, SMCI appears to have completed a corrective Intermediate wave (4), which ended with an ending diagonal in wave C of (4). This suggests that the correction phase is likely nearing completion, and we may now see the beginning of a bullish move as wave (5) starts to unfold. * SMCI Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, SMCI is progressing through wave (i) of {i}, and we can observe a well-structured five-wave subdivision within this initial impulsive wave. Currently, the stock is in the final stages of a triangle formation in wave iv, suggesting that the next move could be the breakout to complete wave (v) of (i), pushing prices higher. Technical Analyst : Alessio Barretta 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: Trend MODE: Impulsive STRUCTURE: Gray wave 3 POSITION: Orange wave 3 DIRECTION NEXT HIGHER DEGREES: Gray wave 3 (started) DETAILS: Gray wave 2 has been completed, and gray wave 3 is now in play. Wave Cancel invalid level: 11,419.25 The Swiss Market Index (SMI) Elliott Wave analysis for the daily chart indicates that the market is experiencing a bullish trend with an impulsive wave structure. The current analysis focuses on gray wave 3, which is advancing within the broader trend. The market is in the middle of orange wave 3, forming part of the ongoing gray wave 3. Previously, gray wave 2 was completed, and attention is now on the continued progress of gray wave 3. The impulsive nature of this wave signals strong upward momentum, with further gains anticipated as the wave unfolds. Impulsive waves like this are typically associated with significant and sustained price movements in the direction of the prevailing trend. The invalidation level for this wave structure is set at 11,419.25. If the price falls below this level, the current Elliott Wave count will be invalidated, necessitating a reassessment of the wave structure. However, as long as the price remains above this invalidation level, gray wave 3 is expected to continue pushing the market higher. Summary: The Swiss Market Index is currently in the midst of a strong upward trend, with gray wave 3 progressing. The completion of gray wave 2 has laid the groundwork for further gains, as orange wave 3 unfolds within the larger wave structure. The next significant phase involves the continuation of gray wave 3, with the key invalidation level to monitor set at 11,419.25, below which the wave count would need to be reconsidered. 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 completed, and now orange wave 3 is in play. Wave Cancel invalid level: 11,419.25 The Swiss Market Index (SMI) weekly chart Elliott Wave analysis highlights a bullish trend, following an impulsive wave structure. The primary focus is on the ongoing orange wave 3, which is currently pushing the market higher within the broader trend framework. This suggests a continuation of the upward movement in line with the long-term bullish outlook. Previously, orange wave 2 was completed, and the market is now advancing through orange wave 3. The impulsive nature of this wave signals strong momentum, suggesting that the bullish trend is set to continue. This is a pivotal phase in the Elliott Wave cycle, during which substantial upward price movements are expected. The analysis also identifies that the market is positioned within navy blue wave 3, which is part of the overall wave structure, pointing towards further advances. The next focus is the continuation of orange wave 3, which has already started and is expected to push the market even higher as it unfolds. The invalidation level for this wave structure is set at 11,419.25. If the market drops below this level, the current wave count would be invalidated, requiring a reassessment of the analysis. However, as long as the price remains above this key level, the bullish outlook is likely to hold, with further upward movement anticipated in line with orange wave 3. Summary: The Swiss Market Index is currently in the midst of a strong bullish trend, driven by orange wave 3. Orange wave 2 has completed, and the continuation of the upward movement in orange wave 3 is now underway. The critical level to monitor is 11,419.25, as a drop below this point would invalidate the current Elliott Wave structure. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
-
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now