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10/06/21 10:53
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Posts
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By tradinglounge · Posted
GBPJPY Elliott Wave Analysis Trading Lounge Day Chart, 22 September 23 British Pound/Japanese Yen(GBPJPY) Day Chart GBPJPY Elliott Wave Technical Analysis Function: Trend Mode: impulsive Structure: black wave 5 of red wave 3 Position: Red wave 3 Direction Next Higher Degrees: wave (5) started Details: Corrective wave 4 looking completed at 180.754 . Wave 5 confirmation level: 186.060 The GBPJPY Elliott Wave Analysis on 22 September 23, focuses on the daily chart of the British Pound/Japanese Yen (GBPJPY) currency pair. This analysis employs Elliott Wave theory to provide insights into potential market movements. The Function described for this analysis is "Trend," indicating that its primary objective is to identify and assess prevailing trends within the GBPJPY market. In this context, "trend" signifies a sustained and directional price movement that traders often seek to exploit. The Market Mode is identified as "impulsive," suggesting that the market currently exhibits strong, decisive price movements. Impulsive phases are typically associated with clear and sustained trends, which are favorable conditions for traders seeking opportunities in line with the trend. The Market Structure is specified as "black wave 5 of red wave 3," highlighting the focus on the fifth wave within the third major wave of the Elliott Wave sequence. This specific structural analysis is essential for identifying potential reversal or continuation points within the market. In terms of Position, the analysis concentrates on "Red wave 3," indicating that it is centered on the third major wave within the broader Elliott Wave pattern. This level of detail is valuable for traders in understanding their position within the overall wave sequence. The Direction Next Higher Degrees suggests that "wave (5) has started," signifying that the analysis anticipates the development of the fifth wave within the current wave structure. This implies that traders should closely monitor the evolution of wave (5) for potential trading opportunities. The Details section provides additional information, noting that "Corrective wave 4" appears to be near completion at a price level of 180.754. Furthermore, it highlights a "Wave 5 confirmation level" at 186.060. These price levels serve as essential reference points for traders and can guide their entry and exit decisions. In summary, the GBPJPY Elliott Wave Analysis on 22 September 23, suggests that the market is currently in an impulsive mode, indicating a strong directional trend. The analysis focuses on the fifth wave (wave 5) within the third major wave (red wave 3) of the Elliott Wave sequence. Traders are advised to closely monitor the progress of wave (5) and consider the specified confirmation level as they make trading decisions. Risk management remains a crucial aspect of any trading strategy, alongside additional technical and fundamental analysis. -
By tradinglounge · Posted
GBPJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, 22 September 23 British Pound/Japanese Yen(GBPJPY) 4 Hour Chart GBPJPY Elliott Wave Technical Analysis Function: Trend Mode: impulsive Structure: black wave 5 of red wave 3 Position: Red wave 3 Direction Next Higher Degrees: wave (5) started Details: Corrective wave 4 looking completed at 180.754 . Wave 5 confirmation level: 186.060 The GBPJPY Elliott Wave Analysis on 22 September 23, is based on the 4-hour chart of the British Pound/Japanese Yen (GBPJPY) currency pair. It employs Elliott Wave theory to provide insights into potential market movements. The analysis is designed with the Function of "Trend," indicating that it primarily focuses on identifying and assessing trends within the GBPJPY market. In this context, "trend" implies a directional price movement that the analysis aims to analyze and potentially capitalize on. The Market Mode is described as "impulsive," suggesting that the market is currently displaying strong, directional price movements. Impulsive modes are often associated with clear and sustained trends, which are favorable conditions for traders seeking trend-following opportunities. The Market Structure is identified as "black wave 5 of red wave 3," emphasizing that the analysis is concentrated on the fifth wave within the third major wave of the Elliott Wave sequence. Understanding this specific wave structure is crucial for pinpointing potential reversal or continuation points within the market. The Position within the Elliott Wave pattern is specified as "Red wave 3," indicating that the analysis is focused on the third major wave within the larger Elliott Wave sequence. This level of detail allows traders to identify their position within the broader wave pattern. Regarding the Direction Next Higher Degrees, the analysis states that "wave (5) started," implying that the next significant wave to anticipate is the fifth wave within the current wave structure. This suggests that traders should closely monitor developments in wave (5) for potential trading opportunities. The Details section provides further information, noting that "Corrective wave 4" appears to be completed at a price level of 180.754. Additionally, it specifies a "Wave 5 confirmation level" at 186.060. These price levels are crucial reference points for traders, as they can serve as potential entry or exit points in their trading strategies. In summary, the GBPJPY Elliott Wave Analysis on 22 September 23, indicates that the market is currently in an impulsive mode, suggesting a strong directional trend. The analysis is primarily focused on the fifth wave (wave 5) within the third major wave (red wave 3) of the Elliott Wave sequence. Traders should be attentive to developments in wave (5) and consider the specified confirmation level for potential trading decisions. As always, risk management and the use of additional technical and fundamental analysis are essential components of successful trading strategies. -
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Question
Guest Charlie
Hi, is the demo account limited to one position at a time? I have a working position (price not hit my entry yet) and I'm trying to enter another position in the same market (GBPUSD) , but when I enter the order details it just amends the existing working order rather than creates a new order. What am I doing wrong? Thanks very much.
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