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By tradinglounge · Posted
EURGBP Elliott Wave Analysis Trading Lounge Euro/British Pound (EURGBP) Day Chart EURGBP Elliott Wave Technical Analysis Function: Bearish Trend Mode: Impulsive Structure: Orange Wave 1 Position: Navy Blue Wave 3 Direction Next Higher Degrees: Orange Wave 2 Details: Navy blue wave 2 appears complete, with orange wave 1 of navy blue wave 3 currently in motion. Wave Cancelation Invalid Level: 0.84490 The EURGBP Day Chart, based on Elliott Wave analysis, demonstrates a bearish trend with an impulsive wave structure. The current setup includes orange wave 1 within navy blue wave 3, indicating a continuation of the downward trajectory in line with the broader trend. The analysis highlights that navy blue wave 2 has likely concluded, leading to the development of orange wave 1 within navy blue wave 3. This formation fits a classic impulsive Elliott Wave structure, supporting the overall bearish outlook. Navy blue wave 3, as the current position within the larger wave pattern, underscores the downward momentum. The higher-degree direction aims for orange wave 2, which suggests that any upward movements are expected to be corrective and part of the larger bearish framework. Consequently, potential rallies may be short-lived and unlikely to signify a reversal of the bearish trend. Key Level: The invalidation level for the current wave structure is 0.84490. A move above this level would invalidate the current bearish count, necessitating a reassessment of the wave structure. Conversely, maintaining levels below 0.84490 supports the validity of the current Elliott Wave configuration and the bearish trend. Summary: The EURGBP Day Chart analysis points to a bearish trend driven by an impulsive orange wave 1 within navy blue wave 3. The expectation is for continued declines as part of the broader downward trend. Monitoring the invalidation level at 0.84490 is crucial for confirming the validity of the current structure, with the primary outlook remaining bearish as long as this level is not breached. Euro/British Pound (EURGBP) 4-Hour Chart EURGBP Elliott Wave Technical Analysis Function: Bearish Trend Mode: Impulsive Structure: Orange Wave 1 Position: Navy Blue Wave 3 Direction Next Higher Degrees: Orange Wave 2 Details: Navy blue wave 2 seems complete, with orange wave 1 of navy blue wave 3 currently unfolding. Wave Cancelation Invalid Level: 0.84490 The EURGBP 4-Hour Chart, interpreted through Elliott Wave analysis, reveals a bearish trend characterized by an impulsive wave structure. This setup shows that orange wave 1 has initiated within navy blue wave 3, suggesting continued downward momentum as the wave sequence progresses. The analysis indicates that navy blue wave 2 is likely completed, paving the way for orange wave 1 to move lower. This marks the beginning of navy blue wave 3’s downward phase, aligning with the impulsive nature of Elliott Wave patterns. These waves emphasize a directional trend that supports the broader market movement. The current position of navy blue wave 3 within the wave hierarchy confirms the bearish bias. The potential emergence of orange wave 2 in the near term indicates that any upward movements may serve as corrective phases rather than a shift in the primary trend. This structure reflects a continuation of the overall downward trajectory, reinforcing the bearish outlook. Key Level: The wave invalidation level is 0.84490. If prices rise above this level, the current bearish count would be invalidated, necessitating a reevaluation of the wave structure. Remaining below 0.84490, however, sustains the validity of the bearish wave count and supports continued declines within the impulsive wave framework. Summary: The EURGBP 4-Hour Chart analysis identifies a bearish trend driven by the impulsive orange wave 1 within navy blue wave 3. This wave progression points to further declines, with the invalidation level at 0.84490 serving as a critical threshold for maintaining the current wave structure. As long as this level holds, the dominant trend remains bearish. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
ASX: TRANSURBAN GROUP - TCL Elliott Elliott Wave Technical Analysis TradingLounge Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with TRANSURBAN GROUP - TCL. We see TCL.ASX about to enter a bull market with wave (iii)-orange. ASX: TRANSURBAN GROUP - TCL 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, grey) Mode: Motive Structure: Impulse Position: Wave (ii)-orange of Wave 3-grey Details: Wave (i)-orange has just completed, and wave (ii)-orange is unfolding to push lower as a Zigzag. Then wave (iii)-orange could return to push higher. A push above 13.10 would be the first step to show that wave (iii)-orange is unfolding. Invalidation point: 11.92 ASX: TRANSURBAN GROUP - TCL 4-Hour Chart Analysis Function: Major trend (Minuette degree, navy) Mode: Motive Structure: Impulse Position: Wave ((5))-navy of Wave c-grey of Wave (ii)-orange Details: Wave (i)-orange has finished as a five-wave, and wave (ii)-orange is developing as a zigzag labeled a,b,c-grey. Basically, wave a,b-grey has finished, and wave c-grey is also close to or has finished. The push above 13.00 is the first step to show that wave (iii)-orange is really unfolding to push higher. Invalidation point: 11.92 Key point: 13.00 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: TRANSURBAN GROUP - TCL 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! #TCL #ASX #Stocks #ElliottWave #TradingLounge -
By CryptoChamp · Posted
Ethereum has shown strong bullish momentum recently, breaking above a daily resistance level of $2,820 on Thursday. By Sunday, the price had surged by over 7.7%, as per Coinpedia Markets nearing the weekly resistance level of $3,236. As of Monday, Ether Price hovers slightly below $3,182, with traders anticipating whether ETH will close above the $3,236 level. If it does, Eth Price Prediction suggests a potential 9.8% gain, aiming for the previous high of $3,562 reached on July 22. Overbought Conditions and RSI Signal Caution Ethereum’s Relative Strength Index (RSI) currently stands at 75, indicating that ethereum price is in overbought territory, much like Bitcoin. This suggests that while ETH is experiencing upward momentum, there could be a slight correction if buying pressure eases. Whale Activity Surges as Key Factor Large investors, or “whales,” are significantly influencing ETH Coin price action. Whale transactions over $1 million have hit a 14-week high, reaching 8,482 transactions last week, the most since August. With whale transaction volume surpassing $10.4 billion, their activity plays a critical role in price stability and momentum. Long-Term Holder Behavior: A Key Metric to Watch Ethereum’s Liveliness metric, which reflects long-term holders' behavior, recently showed an uptick. This rise suggests some long-term holders are booking profits, potentially slowing the rally. However, if they hold instead of selling, ethereum price could find stronger support to continue its upward trend. The Ethereum Price Prediction remains optimistic if these key players continue supporting the rally, though traders should be aware of potential price adjustments.
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