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By tradinglounge · Posted
DAX (Germany) Elliott Wave Analysis Trading Lounge Day Chart DAX (Germany) Elliott Wave Technical Analysis FUNCTION: Bullish Trend MODE: Impulsive STRUCTURE: Gray Wave 3 POSITION: Orange Wave 3 DIRECTION NEXT LOWER DEGREES: Gray Wave 4 DETAILS: Gray Wave 2 appears complete. Currently, Gray Wave 3 of Orange Wave 3 is in progress. Wave Cancel Invalid Level: 18,182.52 The daily chart of the DAX (Germany) suggests a bullish trend within an impulsive wave structure. The market is currently in Gray Wave 3, situated within Orange Wave 3, indicating strong upward movement. Gray Wave 2 appears to have concluded, and the market is now unfolding Gray Wave 3 of Orange Wave 3, which is actively driving the bullish momentum. The impulsive wave structure typically indicates a strong trend, with Gray Wave 3 being a more forceful part of the Elliott Wave sequence. The next lower-degree wave will be Gray Wave 4, which is expected to follow the completion of the current wave structure. However, for now, Gray Wave 3 remains active, and the market continues to progress upward within this bullish framework. The wave cancellation level is identified at 18,182.52. A decline below this level would invalidate the current Elliott Wave count, potentially signaling the end of the current upward movement or the emergence of a new wave pattern. In summary, the DAX is trending bullish, with Gray Wave 3 of Orange Wave 3 currently unfolding. Gray Wave 2 is complete, leading to further upward progression. As long as the price remains above the invalidation level of 18,182.52, the bullish trend is expected to continue. DAX (Germany) Elliott Wave Analysis Trading Lounge Weekly Chart DAX (Germany) Elliott Wave Technical Analysis FUNCTION: Bullish Trend MODE: Impulsive STRUCTURE: Navy Blue Wave 5 POSITION: Gray Wave 3 DIRECTION NEXT LOWER DEGREES: Gray Wave 4 DETAILS: Navy Blue Wave 4 appears complete. Now, Navy Blue Wave 5 is in play. Wave Cancel Invalid Level: 18,182.52 The weekly chart of the DAX (Germany) points to a bullish trend operating within an impulsive mode. The current structure shows the market in Navy Blue Wave 5, with the position in Gray Wave 3, indicating further upward momentum. Navy Blue Wave 4 seems to have concluded, and now Navy Blue Wave 5 is unfolding, suggesting that the market is advancing into the final phase of the Elliott Wave cycle for this higher degree. The impulsive nature of Navy Blue Wave 5 is driving the ongoing bullish trend. The next lower degree wave points to Gray Wave 4, which is expected to develop after Gray Wave 3 completes. However, at present, Gray Wave 3 is in progress, contributing to the current upward price movement. The wave cancellation level is set at 18,182.52. A drop below this level would invalidate the current Elliott Wave count, possibly signaling the end of the bullish trend or the onset of a corrective phase. In summary, the DAX is trending upward, with Navy Blue Wave 5 unfolding after the completion of Navy Blue Wave 4. The market remains on a bullish path, and as long as the price stays above the invalidation level of 18,182.52, the bullish outlook is expected to persist, with Gray Wave 3 driving prices higher. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
GBPAUD Elliott Wave Analysis Trading Lounge British Pound/Australian Dollar (GBPAUD) Day Chart GBPAUD Elliott Wave Technical Analysis FUNCTION: Bullish Trend MODE: Impulsive STRUCTURE: Navy Blue Wave 3 POSITION: Gray Wave 5 DIRECTION NEXT HIGHER DEGREES: Navy Blue Wave 3 (started) DETAILS: Navy blue wave 2 appears to be complete, with navy blue wave 3 now underway. Wave Cancel Invalid Level: 1.91214 The GBPAUD Elliott Wave analysis on the daily chart highlights a bullish trend in an impulsive phase. The current structure shows that the market is in navy blue wave 3, following the completion of navy blue wave 2. This indicates that the upward trend is ongoing, with the third wave actively advancing. The market’s position is within gray wave 5, representing the final stage of the wave structure at this level. With the completion of navy blue wave 2, the market is moving forward in navy blue wave 3, typically a strong bullish phase in the Elliott Wave sequence. The direction at the next higher degrees suggests that navy blue wave 3 has already begun, and the ongoing wave progression is likely to drive the market higher within this bullish structure. As long as the price adheres to the Elliott Wave framework, the bullish trend is expected to persist. The wave cancellation invalidation level is set at 1.91214. Should the price fall below this level, the current wave count would be considered invalid, potentially signaling a shift in the wave structure or a risk to the upward momentum. Summary: The GBPAUD is currently in a bullish trend within the impulsive navy blue wave 3. The completion of navy blue wave 2 has triggered a strong upward movement, with gray wave 5 in progress. The market is expected to maintain its position within the Elliott Wave structure as long as it stays above the invalidation level of 1.91214. British Pound/Australian Dollar (GBPAUD) 4 Hour Chart GBPAUD Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Orange Wave 2 POSITION: Navy Blue Wave 3 DIRECTION NEXT HIGHER DEGREES: Orange Wave 3 DETAILS: Orange wave 1 appears to be complete, with orange wave 2 now unfolding. Wave Cancel Invalid Level: 1.91214 The GBPAUD Elliott Wave analysis on the 4-hour chart points to a counter-trend movement currently in a corrective phase. The structure indicates the market is in orange wave 2, following the completion of orange wave 1. This suggests the market is undergoing a correction after the initial wave of the downward trend. Currently, the market is positioned in navy blue wave 3, which is part of the larger orange wave 2. As orange wave 2 continues, it is expected to transition into orange wave 3, signaling the resumption of the downtrend once the corrective phase concludes. Orange wave 1 has been completed, marking the start of the trend, and orange wave 2 is now correcting within this larger structure. The next higher degrees suggest that after orange wave 2 completes, the market will move into orange wave 3, continuing the overall downtrend. The invalidation level for this wave structure is 1.91214. If the price exceeds this level, the current Elliott Wave count would be invalidated, implying that the corrective phase may have ended. Summary: The GBPAUD is in a counter-trend corrective phase with orange wave 2 in progress following the completion of orange wave 1. After this correction, the market is expected to continue its downtrend in orange wave 3. The wave structure remains valid as long as the price stays below the invalidation level of 1.91214. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
ASX: CAR GROUP LIMITED – CAR Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) CAR GROUP LIMITED – CAR. We see CAR.ASX pushing higher, but it will take some time until the wave count reaches its highest probability through enough price action evidence. ASX: CAR GROUP LIMITED – CAR 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, gray) Mode: Motive Structure: Impulse Position: Wave (iii)-orange of Wave ((v))-navy Details: Wave (iii)-orange is unfolding to push higher, towards the nearest target at 40.00 - 41.00. Some signs have been suggesting that the ALT wave count scenario, which suggests that the entire wave (ii)-orange will last longer than expected, is starting to gain weight. Invalidation point: 36.16 ASX: CAR GROUP LIMITED – CAR 4-Hour Chart Analysis Function: Major trend (Minute degree, navy) Mode: Motive Structure: Impulse Position: Wave (iii)-orange of Wave ((v))-navy Details: Looking closer, wave (i)-orange has ended, and wave (ii)-orange looks like it has too. Wave (iii)-orange may be starting to unfold to push higher, but that is uncertain. I see quite a bit of weakness in this wave count, and the instability of the structure also suggests that wave (ii)-orange may be extending longer than expected. So, I think we should wait patiently for a bit more time for things to clear up, then we will join this trend later. Invalidation point: 36.16 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: CAR GROUP LIMITED – CAR 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!
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