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simple buy and sell trade


nickodob

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    • Semiconductor shares rebounded in Asia overnight but weaker commodity prices cast a gloom over the session. Disappointment over the lack of any major growth initiatives at China's recent Plenum have left indices there rudderless, while a strengthening yen has hobbled the Nikkei 225's rebound. Attention now turns to earnings from Tesla and Alphabet, following on from Netflix last week. These two member of the 'Magnificent 7' will set the tone for the rest of the week. Kamala Harris has achieved enough support to be the Democrat nominee, while raising a record $81 million in donations in 24 hours. Markets continue to await fresh polling on a contest between Donald Trump and the incumbent vice-president. 
    • KOSPI Composite Day Chart Analysis Elliott Wave Analysis by Trading Lounge Function: Counter Trend Mode: Corrective Structure: Gray Wave 2 Position: Orange Wave 3 Next Higher Degrees Direction: Gray Wave 3 Wave Cancel Invalid Level: 2551.59 The KOSPI Composite day chart analysis employs Elliott Wave Theory to provide a detailed examination of market movements. The primary function of the current movement is a counter trend, indicating a move against the primary trend. Mode and Structure: The current mode is corrective, indicating a retracement or consolidation. The structure analyzed is Gray Wave 2, a corrective wave within the larger Elliott Wave framework. Current Position: The market is currently within Orange Wave 3, the third wave of a higher-degree sequence in the orange wave category. According to Elliott Wave Theory, Wave 3 often shows strong, impulsive characteristics. Next Higher Degrees: The direction for the next higher degrees is towards Gray Wave 3. After completing the corrective phase of Gray Wave 2, the market is expected to transition into Gray Wave 3, which is anticipated to be an impulsive wave, resuming the primary trend direction. Details: Following Gray Wave 1, the market is now in the corrective phase of Gray Wave 2 of 3. This phase is crucial as it sets up the market for the next significant move, Gray Wave 3 of 3. Gray Wave 2 is a preparatory phase leading to the next impulsive phase. Wave Cancel Invalid Level: The critical wave cancel invalid level is set at 2551.59. If the market falls below this threshold, the current wave analysis would be invalidated, requiring a reevaluation of the wave count. Summary: The KOSPI Composite day chart indicates that the market is in a corrective phase, identified as Gray Wave 2 within Orange Wave 3. The next expected move is a transition into Gray Wave 3, which is anticipated to resume the primary trend. The wave cancel invalid level is set at 2551.59, serving as a key point for validating or invalidating the current wave structure.   KOSPI Composite Weekly Chart Analysis Elliott Wave Analysis by Trading Lounge Function: Trend Mode: Impulsive Structure: Orange Wave 3 Position: Navy Blue Wave 3 Next Lower Degrees Direction: Orange Wave 4 Wave Cancel Invalid Level: 2551.59 The KOSPI Composite weekly chart analysis utilizes Elliott Wave Theory to understand market behavior. The function of the current movement is identified as a trend, indicating alignment with the primary direction of the established trend. Mode and Structure: The current mode is impulsive, suggesting strong, directional market moves. The structure under analysis is Orange Wave 3, a significant and typically powerful wave within the broader Elliott Wave sequence. Current Position: The market is currently within Navy Blue Wave 3, a major phase in the market cycle characterized by substantial moves and increased trading activity. Next Lower Degrees: The direction for the next lower degrees is towards Orange Wave 4. After completing the impulsive phase of Orange Wave 3, the market is expected to enter a corrective phase, identified as Orange Wave 4, which will likely retrace some gains made during Orange Wave 3. Details: Orange Wave 2 appears to be completed, setting the stage for the current phase, Orange Wave 3 of 3. This phase is crucial as it represents a strong, impulsive move within the broader trend, often marked by significant price movements and increased volatility. Wave Cancel Invalid Level: The critical wave cancel invalid level is set at 2551.59. If the market falls below this threshold, the current wave analysis would be invalidated, necessitating a reevaluation of the wave count. Summary: The KOSPI Composite weekly chart analysis indicates that the market is in an impulsive phase, identified as Orange Wave 3 within Navy Blue Wave 3. The next expected move is a transition into Orange Wave 4, which will be a corrective phase. The wave cancel invalid level is set at 2551.59, serving as a key point for validating or invalidating the current wave structure.   Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!  
    • EURUSD Elliott Wave Analysis Trading Lounge Day Chart Euro/ U.S. Dollar (EURUSD) Day Chart EURUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Orange Wave 2 Position: Navy Blue Wave 3 Next Higher Degrees Direction: Orange Wave 3 Details: Orange wave 1 appears completed, and orange wave 2 is currently in play. Wave cancel invalid level: 1.06657. The EURUSD Elliott Wave Analysis on the day chart provides insights into market behavior using Elliott Wave Theory. The primary function of the current market movement is identified as a counter trend, indicating that the market is moving against the primary trend direction. The mode of this movement is corrective, suggesting the market is experiencing a retracement or consolidation phase rather than a strong directional trend. The specific structure under analysis is orange wave 2, a corrective wave within the broader Elliott Wave framework. The current position of the market is within navy blue wave 3. This analysis focuses on the third wave of a higher-degree sequence within the navy blue wave category. Wave 3 in Elliott Wave Theory is typically significant, often exhibiting strong and impulsive characteristics. For the next higher degrees, the direction is towards orange wave 3. Following the completion of the current corrective phase of orange wave 2, the market is expected to transition into orange wave 3. Orange wave 3 is anticipated to be an impulsive wave, resuming the primary trend direction. The analysis notes that orange wave 1 appears completed. Orange wave 1 represents the initial impulsive move in the sequence. Currently, the market is in the corrective phase of orange wave 2. This phase is critical for setting up the subsequent major move, which will be orange wave 3. An essential aspect of this analysis is the wave cancellation invalid level, identified as 1.06657. This level serves as a threshold; if the market moves below this point, the current wave analysis would be invalidated, necessitating a reevaluation of the wave count. In summary, the EURUSD day chart analysis indicates the market is in a corrective phase, identified as orange wave 2 within navy blue wave 3. The next anticipated move is a transition into orange wave 3, expected to resume the primary trend. The wave cancel invalid level is set at 1.06657, serving as a critical point for validating or invalidating the current wave structure.   EURUSD Elliott Wave Analysis Trading Lounge 4-Hour Chart Euro/ U.S. Dollar (EURUSD) 4-Hour Chart EURUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Orange Wave 2 Position: Navy Blue Wave 3 Next Higher Degrees Direction: Orange Wave 3 Details: Orange wave 1 appears completed, and orange wave 2 is currently in play. Wave cancel invalid level: 1.06657. The EURUSD Elliott Wave Analysis on the 4-hour chart provides insights into the market using Elliott Wave Theory. The primary function identified is counter trend, indicating that the market is currently moving against the primary trend. The mode of this movement is corrective, suggesting the market is undergoing a retracement or consolidation phase rather than a strong directional move. The specific structure in focus is orange wave 2, a corrective wave within the Elliott Wave framework. The market position is identified as navy blue wave 3. This means the analysis is examining the third wave of a higher-degree sequence within the navy blue wave category. Wave 3 is typically significant in Elliott Wave Theory, often associated with strong and impulsive movements. The direction for the next higher degrees is orange wave 3. Once the current corrective phase of orange wave 2 is complete, the market is expected to transition into orange wave 3. Orange wave 3 is anticipated to be an impulsive wave, resuming the primary trend direction. The analysis details that orange wave 1 appears completed. Orange wave 1 represents the initial impulsive move in the sequence. Now, the market is in the corrective phase of orange wave 2. This phase is essential for setting up the next major move, which will be orange wave 3. A critical aspect of this analysis is the wave cancellation invalid level, identified as 1.06657. This level acts as a threshold; if the market moves below this point, the current wave analysis would be invalidated, suggesting a reevaluation of the wave count is necessary. In summary, the EURUSD 4-hour chart analysis indicates that the market is in a corrective phase, identified as orange wave 2 within navy blue wave 3. The next anticipated move is a transition into orange wave 3, which is expected to resume the primary trend. The wave cancel invalid level is set at 1.06657, serving as a crucial point for validating or invalidating the current wave structure.   Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!  
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