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By tradinglounge · Posted
NASDAQ Elliott Wave Analysis Trading Lounge Day Chart NASDAQ Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Navy Blue Wave 3 Position: Gray Wave 3 Direction (Next Lower Degrees): Navy Blue Wave 4 Details: Navy Blue Wave 2 completed, Navy Blue Wave 3 in play Wave Cancel Invalid Level: 18,295.9 Analysis Overview The NASDAQ Elliott Wave analysis on the daily chart suggests the market is in a bullish trend with an impulsive wave structure, currently unfolding as navy blue wave 3. The ongoing movement places the market in gray wave 3, indicating the trend is gaining momentum in this advanced stage of the impulsive phase. Wave Structure & Position With navy blue wave 2 completed, the market is now progressing through navy blue wave 3, a wave associated with strong and sustained upward movement. According to Elliott Wave theory, this phase often indicates a continuation of the bullish trend. Once navy blue wave 3 concludes, the next phase will be navy blue wave 4, which might introduce a temporary correction before the broader uptrend resumes. Key Details The market has completed navy blue wave 2 and is firmly in navy blue wave 3, suggesting the upward momentum will continue. Wave Cancel Invalid Level: If the market drops below 18,295.9, the current wave count will be invalidated, requiring a revised analysis of the market structure. Summary The NASDAQ is in a strong upward trend, with navy blue wave 3 driving the current movement. Further gains are expected as long as the market remains above 18,295.9. Analysts should monitor for potential corrections as the market transitions into navy blue wave 4 in the near future. NASDAQ Elliott Wave Analysis Trading Lounge Weekly Chart NASDAQ Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Gray Wave 3 Position: Orange Wave 5 Direction (Next Lower Degrees): Gray Wave 4 Details: Gray Wave 2 completed, Gray Wave 3 in play Wave Cancel Invalid Level: 18,295.9 Analysis Overview The NASDAQ Elliott Wave analysis on the weekly chart shows the market is in a strong upward trend, characterized by an impulsive wave structure currently unfolding within gray wave 3. The position within the wave cycle places the market in orange wave 5, indicating the trend is advancing toward the later stages of this impulse sequence. Wave Structure & Position With gray wave 2 completed, the market is now progressing through gray wave 3, typically associated with robust bullish momentum. This suggests that the upward trend is likely to continue. Once gray wave 3 concludes, the market is expected to enter gray wave 4, introducing a temporary corrective phase before the overall bullish trend resumes. Key Details Gray wave 3 is still unfolding, signaling further upward movement in the NASDAQ in the near term. After the completion of gray wave 3, gray wave 4 is expected to bring a corrective pullback before the market continues its broader upward trajectory. Wave Cancel Invalid Level: If the market falls below 18,295.9, the current Elliott Wave count will be invalidated, requiring a new wave analysis. Summary The NASDAQ is currently in a strong upward trend, with gray wave 3 driving the market higher. Traders should expect further gains while monitoring for a potential correction when the market transitions into gray wave 4. The bullish outlook remains valid as long as the market stays above 18,295.9. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
GBPUSD Elliott Wave Analysis Trading Lounge Day Chart British Pound/ U.S. Dollar (GBPUSD) Day Chart GBPUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Navy Blue Wave 2 Position: Gray Wave 3 Direction (Next Higher Degrees): Navy Blue Wave 3 Details: Navy Blue Wave 1 completed, Navy Blue Wave 2 in play Wave Cancel Invalid Level: 1.34365 Analysis Overview The GBPUSD Elliott Wave analysis on the daily chart indicates that the pair is currently in a counter-trend corrective phase, with navy blue wave 2 in progress. This phase follows the completion of navy blue wave 1, marking a temporary retracement before the broader trend resumes. Wave Structure & Position The current wave structure suggests that gray wave 3 forms part of the broader corrective pattern. Once navy blue wave 2 completes, the next move is expected to lead the market into navy blue wave 3, signaling a continuation of the upward trend. Key Details Navy blue wave 1 has already finished, and the market is now unfolding navy blue wave 2. This corrective phase will remain active until the market transitions into the next impulsive move, navy blue wave 3. Wave Cancel Invalid Level: If GBPUSD rises above 1.34365, the current wave structure would be invalidated, and a new wave analysis would be required. Summary In conclusion, GBPUSD is currently in a corrective phase (navy blue wave 2) following the completion of navy blue wave 1. Once this correction concludes, the pair is expected to resume its upward trend with the development of navy blue wave 3. The analysis remains valid as long as the price stays below 1.34365. British Pound/ U.S. Dollar (GBPUSD) 4-Hour Chart GBPUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Orange Wave B Position: Navy Blue Wave 2 Direction (Next Lower Degrees): Orange Wave C Details: Orange Wave A of 2 completed, Orange Wave B of 2 in progress Wave Cancel Invalid Level: 1.34365 Analysis Overview The GBPUSD Elliott Wave analysis on the 4-hour chart shows that the pair is in a corrective counter-trend phase, with the structure currently forming orange wave B, following the completion of orange wave A. The market remains positioned within navy blue wave 2, indicating that this correction is part of the broader structure. Wave Structure & Position After orange wave B completes, the next expected movement is the development of orange wave C. This next corrective phase will follow orange wave B, continuing the overall structure of the correction within navy blue wave 2. Key Details Orange wave A of wave 2 has completed, and orange wave B of wave 2 is currently unfolding. This corrective sequence suggests that the pair is undergoing a temporary retracement within the larger trend. Wave Cancel Invalid Level: If GBPUSD rises above 1.34365, the current wave count will no longer be valid, indicating that the market structure needs reassessment. Summary In summary, GBPUSD is in the middle of a corrective phase within orange wave B, part of navy blue wave 2. After orange wave B completes, the pair is expected to move into orange wave C as the correction continues. The analysis remains valid as long as the pair stays below 1.34365. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
ASX: GOODMAN GROUP – GMG Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with ARISTOCRAT LEISURE LIMITED - ALL. We see GMG about to push higher in the short term with a grey v-wave. ASX: GOODMAN GROUP – GMG 1D Chart (Semilog Scale) Analysis Function: Major trend (Minute degree, navy) Mode: Motive Structure: Impulse Position: Wave v-grey of Wave (iii)-orange of Wave ((iii))-navy Details: Wave iv-grey has ended, and wave v-grey is unfolding to push higher, aiming at targets around 38.00 - 40.00, we will analyze in more detail on the 4H chart. Invalidation point: 31.73 ASX: GOODMAN GROUP – GMG 4-Hour Chart Analysis Function: Major trend (Subminuette degree, grey) Mode: Motive Structure: Impulse Position: Wave ((4))-navy of Wave ((5))-navy Details: Wave ((3))-navy is probably over and wave ((4))-navy is unfolding to push lower as a Triangle. And after the Triangle is over, we can return to wave ((5))-navy, which will take us up to 38.00 - 40.00. While price must remain above 35.57 to maintain the view that the Triangle is unfolding. Invalidation point: 33.76 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: GOODMAN GROUP – GMG 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). #ASX #Stock #ALL #ElliottWave #TradingLounge #ASX200 #ASXStocks
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