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By tradinglounge · Posted
GBPJPY Elliott Wave Analysis Trading Lounge Day Chart, British Pound/Japanese Yen(GBPJPY)Day Chart GBPJPY Elliott Wave Technical Analysis FUNCTION:Counter Trend MODE:Corrective STRUCTURE: blue wave 2 POSITION: black wave A of 4 DIRECTION NEXT LOWER DEGREES blue wave 3 DETAILS: blue wave 1 of A looking completed at 191.361, now blue wave 2 of A is in play . Wave Cancel invalid level: 200.575 The GBP/JPY Elliott Wave Analysis for the Day Chart outlines the current corrective wave patterns that are shaping the movement of the British Pound against the Japanese Yen, indicating the potential for future directional changes. ### Function The function of the analysis is "Counter Trend," suggesting that the market is currently in a corrective phase that runs against the primary trend. ### Mode The mode is "Corrective," indicating that the current wave structure involves complex patterns, often seen during periods of market consolidation or trend reversal. ### Structure The structure is described as "blue wave 2" within "black wave A of 4." This suggests that the market is undergoing a correction within the context of a broader wave pattern, signaling a potential turning point before the primary trend resumes. ### Position The current position is noted as "black wave A of 4," indicating that the first wave within the correction phase has been completed. This marks a transitional phase in the overall wave structure, suggesting a possible continuation of the corrective pattern before entering the next major trend. ### Direction for the Next Lower Degrees The next lower degrees indicate "blue wave 3," pointing towards the continuation of the corrective structure. This could lead to further consolidation or a new trend direction once the current phase is completed. ### Details In the details section, the analysis suggests that "blue wave 1 of A" is completed at 191.361. This indicates that the first wave within the larger corrective structure has ended. The market is now in "blue wave 2 of A," signifying a period of consolidation or correction before transitioning to the next wave, potentially "blue wave 3." The wave cancellation or invalidation level is set at 200.575, indicating the critical point where the current wave structure could be invalidated, requiring re-evaluation of the analysis. In summary, the GBP/JPY Elliott Wave Analysis for the Day Chart points to a corrective structure with "blue wave 2" in play within "black wave A of 4." After completing "blue wave 1 of A," the market is in a consolidation phase, with the possibility of a new trend or continued correction in "blue wave 3." The wave cancellation level at 200.575 is a key point to monitor for invalidation of the current wave structure. GBPJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, British Pound/Japanese Yen(GBPJPY) 4 Hour Chart GBPJPY Elliott Wave Technical Analysis FUNCTION:Counter Trend MODE:Corrective STRUCTURE: blue wave 2 POSITION: black wave A DIRECTION NEXT LOWER DEGREES blue wave 3 DETAILS: blue wave 1 of A looking completed at 191.361, now blue wave 2 of A is in play . Wave Cancel invalid level: 200.575 The GBP/JPY Elliott Wave Analysis for the 4-Hour Chart focuses on the corrective wave patterns currently shaping the movement of the British Pound against the Japanese Yen, indicating the potential for future trends and directional changes. ### Function The function of the analysis is "Counter Trend," indicating that the market is currently in a correction phase, suggesting a deviation from the primary market trend. ### Mode The mode is "Corrective," highlighting that the current wave pattern is a complex, non-linear movement within the broader market structure. Corrective waves often indicate a pause or consolidation before the primary trend resumes. ### Structure The structure is defined as "blue wave 2" within "black wave A," signifying a corrective wave within a larger impulsive wave. This configuration suggests that the market is in the early stages of a potential trend reversal or consolidation before moving into the next phase. ### Position The current position within the wave structure is identified as "black wave A," indicating the start of a new impulsive sequence following a prior correction. This suggests that the market is transitioning into a new phase after completing a correction. ### Direction for the Next Lower Degrees The direction for the next lower degrees is set as "blue wave 3," indicating that once the current corrective wave (blue wave 2) concludes, the market is expected to enter an impulsive movement, signaling a new trend or continuation of the prior trend. ### Details In the details section, the analysis notes that "blue wave 1 of A" is looking completed at 191.361, suggesting that the initial wave within the corrective structure has concluded. Now, "blue wave 2 of A" is in play, indicating that the second wave within the corrective phase is ongoing. This phase could see a period of consolidation or correction before the trend resumes. The wave cancellation or invalidation level is set at 200.575, signifying a critical threshold. If the market exceeds this level, the current wave structure becomes invalid, requiring a re-evaluation of the wave patterns. In summary, the GBP/JPY Elliott Wave Analysis for the 4-Hour Chart indicates a corrective structure with "blue wave 2" in play within "black wave A." The analysis shows that after completing "blue wave 1 of A," the market is in a consolidation or corrective phase, with the potential for a new trend following "blue wave 3." The wave cancellation level at 200.575 is a key point to monitor for potential invalidation of the current wave structure. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
ASX: REECE LIMITED - REH Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with REECE LIMITED - REH. We have determined that wave (iv)-purple seems to have ended, and wave (v)-purple is being unfolded to push higher, towards the immediate target at around 30.00 - 31.10. ASX: REECE LIMITED - REH Elliott Wave Technical Analysis ASX: REECE LIMITED - REH 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave (v)-purple of Wave ((v))-green of Wave 3-red Details: The short-term outlook indicates that Wave (iv)-purple has ended as expected, and wave (v)-purple is being opened to push higher. It is targeting a goal of 31.10, while price sustaining above the 27.05 support level is a significant advantage for this outlook. Invalidation point: 25.87 ASX: REECE LIMITED - REH Elliott Wave Technical Analysis TradingLounge (4- Hour Chart) ASX: REECE LIMITED - REH Elliott Wave Technical Analysis ASX: REECE LIMITED - REH 4-Hour Chart Analysis Function: Major trend (Subminuette degree, blue) Mode: Motive Structure: Impulse Position: Wave iii-blue Details: The shorter-term outlook indicates that wave (iv) has concluded, and waves i and ii-blue have unfolded, and they also appear to have ended. Now is the time for wave iii-blue to unfold and push higher, aiming for an immediate target around 30.00. Maintaining a price above the support level at 27.05 is a significant advantage for this perspective. A decrease below that level indicates that wave ii-blue may extend longer than expected, and thereafter, wave iii-blue will also return to push higher. Invalidation point: 27.05 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: REECE LIMITED - REH 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! -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart NEO/ U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave B Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level NEO/ U.S. dollar(NEOUSD)Trading Strategy: Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again. NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Elliott Wave Analysis TradingLounge H4 Chart NEO/ U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave B Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level NEO/ U.S. dollar(NEOUSD)Trading Strategy: Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again. NEO/ U.S. dollar(NEOUSD)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!
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Question
Guest Clique
Just wondering why the demo accounts and the MY Ig page have been taken down for the fed decision tonight... I mean what a sh*t time to do it. Could I please get an explanation as there is absolutely zero material on this or forewarning. Not making a good case for a transition to Live account.
P.S. Dont shyte on the demo accounts so much, where do you think your future pip wins are coming from...
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