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By tradinglounge · Posted
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with ARISTOCRAT LEISURE LIMITED - ALL. We see wave (v)-orange of wave ((iii))-navy still unfolding to push higher. ASX: ARISTOCRAT LEISURE LIMITED - ALL 1D Chart (Semilog Scale) Tradinglounge Analysis Function: Major trend (Minor degree, grey) Mode: Motive Structure: Impulse Position: Wave (v)-orange of Wave ((v))-navy Details: Wave (iv)-orange probably ended closest to the 56.04 low and wave (v)-orange is unfolding to push higher, targeting the 61.49 – 65.00 level while price must remain above the 56.04 low to maintain this view. Invalidation point: 55.06 ASX: ARISTOCRAT LEISURE LIMITED - ALL 4-Hour Chart Analysis Function: Major trend (Minuette degree, orange) Mode: Motive Structure: Impulse Position: Wave (v)-orange of Wave ((v))-navy Details: I look closer and see Wave (iv)-orange of wave ((v))-navy appears to have ended at the low of 56.04 and wave (v)-orange is unfolding to push higher, targeting the high of 61.49 – 65.00. Invalidation point: 56.04 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: ARISTOCRAT LEISURE LIMITED - ALL aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation) Source : Tradinglounge.com get trial here! #ASX #Stock #ALL #ElliottWave #TradingLounge #ASX200 #ASXStocks -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, Binance/ U.S. dollar(BNBUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Double Corrective position: Wave ((Y)) Direction Next higher Degrees: wave (2) Wave Cancel invalid level: Details: Wave (2) is likely to end and the price is re-entering the uptrend. Binance/ U.S. dollar(BNBUSD)Trading Strategy: The correction in wave ((2)) seems to be over so we focus on the five-wave rally of wave 3 and the price is likely to test the 913 level. The price action remains in an uptrend, looking for a re-entry into the trend. Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum. Binance/ U.S. dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Double Corrective position: Wave ((Y)) Direction Next higher Degrees: wave 2 Wave Cancel invalid level: Details: The decline of wave Y is likely to end and the price is re-entering the uptrend. Binance/ U.S. dollar(BNBUSD)Trading Strategy: The correction in wave ((2)) seems to be over so we focus on the five-wave rally of wave 3 and the price is likely to test the 913 level. The price action remains in an uptrend, and we are looking for a re-entry into the trend. Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
Market Outlook: It appears that the recent correction in the SP500, NASDAQ 100, and leading tech stocks may be over. The bullish momentum from last Friday's close is likely to continue into Monday, signaling a potential "risk-on" environment. Meta (META) is leading this rally, while Nvidia (NVDA) is showing a clear Impulse Wave off its recent low. Aside from Microsoft (MSFT), most stocks appear ready for upward trades, with our long position on Netflix (NFLX) already triggered. Bitcoin (BTC) may also have found its Wave 2 low, suggesting that long opportunities in cryptocurrency are emerging, which will be covered in our upcoming session video. Video Chapters 00:00 NASDAQ 100 (NDX). SP500 (SPX). 08:21 Apple (AAPL) 09:37 Amazon (AMZN) 10:22 NVIDIA (NVDA) 11:25 Meta Platforms (META) 15:54 Netflix (NFLX) 16:43 Alphabet (GOOGL) 18:03 Microsoft MSFT 19:08 Tesla (TSLA) 20:55 Bitcoin 23:10 End Analyst Peter Mathers TradingLounge™ Source: tradinglounge
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