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By tradinglounge · Posted
British Pound/U.S. Dollar Tradinglounge Analysis GBPUSD Elliott Wave Analysis: Daily Chart GBPUSD Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Orange Wave 3 Position: Navy Blue Wave 3 Next Higher Degree Direction: Orange Wave 4 Details: Orange wave 2 appears complete, initiating orange wave 3 of navy blue wave 3. Wave Cancel Invalidation Level: 1.30502 Analysis Overview The analysis of the GBPUSD currency pair applies Elliott Wave theory to the daily chart, revealing an impulsive trend in progress. The current wave structure highlights orange wave 3, which has commenced following the completion of orange wave 2. This setup indicates a continuation of upward momentum. Key Observations: Position Within the Wave Cycle: The pair is currently within navy blue wave 3, with orange wave 3 actively developing. This phase represents a strong bullish progression, characteristic of an impulsive Elliott Wave structure. Future Projections: Following the expected completion of orange wave 3, the market will likely transition into orange wave 4, which represents a corrective phase within the broader bullish trend. Risk Management: An invalidation level is set at 1.30502. If the price falls to this level, the current Elliott Wave count and the bullish outlook will be invalidated. This serves as a crucial threshold for assessing trend confirmation and managing risk. Conclusion The Elliott Wave analysis for GBPUSD on the daily chart suggests a strong impulsive bullish trend, with orange wave 3 of navy blue wave 3 underway. The completion of orange wave 2 marked the beginning of this upward phase. Key Takeaways: Bullish Trend: As long as the price remains above 1.30502, the bullish outlook remains intact. Further Gains Anticipated: Continuation of orange wave 3 signals additional upward movement before transitioning into the corrective orange wave 4 phase. This analysis provides critical insights into the GBPUSD market, supporting strategic decision-making for trend identification and risk management. GBPUSD Elliott Wave Analysis: 4-Hour Chart GBPUSD Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Orange Wave 3 Position: Navy Blue Wave 3 Next Higher Degree Direction: Orange Wave 4 Details: Orange wave 2 appears complete, initiating orange wave 3 of navy blue wave 3. Wave Cancel Invalidation Level: 1.30502 Analysis Overview The 4-hour Elliott Wave analysis for GBPUSD demonstrates an impulsive trend in motion. The wave structure highlights orange wave 3, which started following the completion of orange wave 2. This setup points to a continuation of bullish momentum. Key Observations: Current Wave Position: GBPUSD is situated in navy blue wave 3, with orange wave 3 actively progressing. This phase is characterized by a strong impulsive movement, which aligns with the typical dynamics of Elliott Wave analysis. Future Projections: After the anticipated conclusion of orange wave 3, the trend is expected to transition into orange wave 4, marking a corrective phase within the broader upward movement. Risk Management: The invalidation level for the current wave count is 1.30502. A decline to this level would invalidate the current bullish outlook and wave count. This level is critical for trend confirmation and risk assessment. Conclusion The Elliott Wave analysis on the 4-hour chart identifies a strong bullish impulsive trend, with orange wave 3 of navy blue wave 3 in progress. The completion of orange wave 2 initiated this upward phase. Key Takeaways: Bullish Continuation: The bullish outlook remains valid as long as the price stays above 1.30502. Further Gains Expected: As orange wave 3 progresses, additional upward momentum is anticipated before the market transitions into the corrective orange wave 4 phase. This analysis offers actionable insights for identifying trends and managing risk in the GBPUSD market. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By CryptoChamp · Posted
Solana (SOL) has become one of the most talked-about cryptocurrencies due to its impressive blockchain capabilities. With the ability to process over 65,000 transactions per second at low fees, Solana has gained significant attention. But what does the future hold for Solana? Let’s dive into the latest Solana price predictions and explore the factors that could influence its journey. Solana Price Today: A Rapidly Growing Cryptocurrency Currently trading around $243, Solana price today is experiencing remarkable growth. Many experts are optimistic about Solana's potential, with some predicting that the Solana coin price could reach $900 by 2025. This forecast is driven by Solana's growing adoption in the decentralized finance (DeFi) sector and its powerful blockchain technology. Solana Price Prediction: Can SOL Surpass Its All-Time High? One of the most exciting aspects of Solana is its potential for explosive growth. Crypto strategist Inmortal has compared Solana’s future to Ethereum’s performance in 2021. He predicts a Sol price prediction of $450 by 2025, a significant increase from its current value. If Solana follows Ethereum’s path, we could see similar price surges, making Solana a coin to watch closely in the coming years. Bloomberg’s Mike McGlone also shares a positive outlook, citing Solana’s low transaction fees and high transaction throughput as key factors that will drive its adoption in the DeFi and NFT sectors. This could help Solana compete with Ethereum and other top platforms, pushing the price of Solana even higher. FIL token set for a massive bullish spike! Discover the FIL price prediction for December and what’s driving the surge! Key Factors Driving Solana’s Growth Solana has proven to be a strong contender in the blockchain space, and several factors could contribute to its future success: The Firedancer Upgrade: This major network upgrade aims to improve performance and scalability, making Solana more attractive to developers and users. With Firedancer, Solana could see even more demand for its services and tokens, driving up the sol crypto price. Potential Solana ETF: Talks of a Solana Exchange-Traded Fund (ETF) are generating excitement. If approved, an ETF would provide institutional investors with a regulated way to invest in Solana, potentially boosting the price of Solana significantly. Growing DeFi and NFT Adoption: Solana’s ecosystem is thriving, with increasing activity in decentralized finance and non-fungible tokens (NFTs). As more decentralized applications (dApps) are built on Solana, the price of Solana could continue to rise. Solana Price Now: Is It Nearing Its Peak? While Solana’s performance is impressive, the Solana price now is approaching critical resistance levels. Experts note that key resistance points are around $271 and $309. If Solana can break through these levels, it could see further price growth. However, if the market faces a correction, the Solana price could experience temporary declines. What’s Next for Solana? Despite the potential risks, experts remain optimistic about Solana’s future. By December 2024, analysts project an 8.7% rise in the Solana price. The ongoing upgrades, along with broader adoption in the DeFi and NFT sectors, will play crucial roles in determining whether Solana can hit new highs. Raoul Pal, CEO of Real Vision, even set a “worst-case” price target of $800 for Solana, with the possibility of reaching up to $2,500 in a peak market scenario. Conclusion: Solana Price Prediction As Solana continues to make strides in the crypto world, its future looks promising. With key upgrades like Firedancer, the potential launch of an ETF, and growing adoption in DeFi and NFTs, the price of Solana could soar. While the Solana coin price may face short-term resistance or corrections, long-term projections remain positive. If you’re considering investing in Solana, it’s crucial to stay informed and understand the market risks. But for those looking for a high-growth opportunity, Solana presents a compelling case for the future. Keep an eye on the Solana price prediction, as SOL may be on the verge of a major breakout. -
By tradinglounge · Posted
ASX: WOOLWORTHS GROUP LIMITED - WOW Elliott Elliott Wave Technical Analysis TradingLounge Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with WOOLWORTHS GROUP LIMITED - WOW. We see ASX:WOW not really rising, but still has a push lower. ASX: WOOLWORTHS GROUP LIMITED - WOW 1D Chart (Semilog Scale) Analysis Function: Major trend (Primary degree, navy) Mode: Motive Structure: Impulse Position: Wave (B)-orange of Wave ((Z))-navy Details: Wave II-grey continued longer than expected and pushed lower as a Triple Zigzag, targeting the low around 27.38. There is probably still a push lower with wave (C)-orange. Then when price pushes higher above 36.65 it is the first step to show that a correction wave is completed, and we can move higher. Invalidation point: 36.65 ASX: WOOLWORTHS GROUP LIMITED - WOW 4-Hour Chart Analysis Function: Major trend (Primary degree, navy) Mode: Motive Structure: Impulse Position: Wave (B)-orange of Wave ((Z))-navy Details: There is probably still a push lower with wave (C)-orange. Perhaps there is still a push lower with the (C)-orange wave. Since I see the (A)-orange wave completing the five-waves within the ((Z))-navy wave, perhaps a little more push higher is needed with the (B)-orange wave, and then another five-wave lower. Invalidation point: 36.65 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: WOOLWORTHS GROUP LIMITED - WOW 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! #WOW #ASX #Stocks #ElliottWave #TradingLounge
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Question
Guest Arxi
Hi,
Can anyone tell me if the Spread Betting Account of IG is Halal in the context of Islamic Investing.
It is a margin account where we can do short selling too.
There is no interest/riba charged in the Spread Betting account (Forward Contracts).
Only we have to pay higher spread to IG which I personally think is kind of share in our profits that we are giving to IG.
Please confirm me if its Halal or not.
The only reason I am considering Spread Betting Account is to do Short selling on Stocks to take advantage of the downward movement in the stock prices.
Kind Regards
3 answers to this question
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