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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: Bullish Trend Mode: Impulsive Structure: Gray Wave 3 Position: Orange Wave 3 Direction Next Higher Degrees: Gray Wave 3 (Continues) Details: Gray Wave 2 of 3 appears completed, now Gray Wave 3 of 3 is underway. Wave Cancel Invalidation Level: 1.30012 The Elliott Wave analysis for the GBPUSD daily chart reflects a bullish trend, indicating upward market movement. The current price action is in an impulsive mode, which signals sustained upward momentum in line with the broader market trend. The wave being monitored is Gray Wave 3, a significant wave in Elliott Wave theory, usually associated with strong upward movement within the trend. Currently, the market is in Orange Wave 3, which is part of the larger impulsive structure of Gray Wave 3. This suggests that the price is in a phase where sustained upward momentum is expected, aligning with the overall bullish framework. The direction of the next higher degree movements continues to point towards Gray Wave 3, further supporting the ongoing bullish momentum. It’s noteworthy that Gray Wave 2 of 3 has already completed, indicating that a corrective phase has passed. The market is now advancing into Gray Wave 3 of 3, a phase typically characterized by an extended upward push within the overall wave structure. The wave cancel invalidation level is marked at 1.30012, meaning if the price drops below this point, the current Elliott Wave analysis would no longer hold. As long as the price stays above this threshold, the bullish trend is expected to persist, with potential for further gains as Wave 3 of 3 progresses. Summary: The GBPUSD pair is in a robust bullish trend, driven by the impulsive Gray Wave 3. With Gray Wave 2 now completed, the market is advancing into Gray Wave 3 of 3, which indicates strong upward momentum. The analysis remains valid as long as the price remains above 1.30012. British Pound/ U.S. Dollar (GBPUSD) 4 Hour Chart GBPUSD Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Micro Navy Blue Wave 3 Position: Gray Wave 3 Direction Next Lower Degrees: Micro Navy Blue Wave 4 Details: Micro Navy Blue Wave 2 of 3 appears completed, now Micro Navy Blue Wave 3 of 3 is underway. Wave Cancel Invalidation Level: 1.30012 The Elliott Wave analysis for the GBPUSD 4-hour chart shows a bullish trend, indicating upward market momentum. The current price movement is in an impulsive mode, suggesting that the price is advancing in strong waves that align with the overall market trend. The wave being tracked is Micro Navy Blue Wave 3, which represents a continuation of the larger impulsive sequence. In terms of its current position, the market is within Gray Wave 3, a significant upward wave in the larger trend structure. The next lower degree wave points towards Micro Navy Blue Wave 4, implying that after the completion of the ongoing Wave 3, a corrective Wave 4 may follow. For now, the focus remains on the ongoing impulsive Wave 3. The analysis highlights that Micro Navy Blue Wave 2 of 3 has been completed, indicating the end of a corrective phase. The market is now moving into Micro Navy Blue Wave 3 of 3, signaling strong upward momentum. This wave is typically known as one of the most extended and powerful in Elliott Wave theory, suggesting significant bullish potential for the market. The wave cancel invalidation level is set at 1.30012. As long as the price stays above this level, the current Elliott Wave count remains valid, and the bullish structure is expected to continue. Summary: The GBPUSD is currently in a bullish impulsive phase, driven by Micro Navy Blue Wave 3. With Micro Navy Blue Wave 2 completed, the market is progressing through Wave 3 of 3, showing strong upward momentum. The analysis remains valid as long as the price stays above 1.30012. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
ASX: BLOCK INC. - SQ2 Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with BLOCK INC. - SQ2. We are seeing a potential bullish opportunity with wave (iii)-orange of wave ((iii))-navy. ASX: BLOCK INC. - SQ2 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, gray) Mode: Motive Structure: Impulse Position: Wave ((iii))-navy of Wave 3-grey Details: The ((iii))-navy wave looks to be unfolding to push higher, while price must remain above 91.11 to maintain this view. I will look for a Long Trade Setup once we have support at the Major Level 100.00. Invalidation point: 91.11 ASX: BLOCK INC. - SQ2 4-Hour Chart Analysis Function: Major trend (Minor degree, grey) Mode: Motive Structure: Impulse Position: Wave (i)-orange of Wave ((iii))-navy Details: From the low at 86.75, wave 3-grey is unfolding to push higher, which itself subdivides into wave (i)-orange of wave ((iii))-navy. Basically, wave (i)-orange could push a little higher, then wave (ii)-orange should come back to push lower, and finally wave (iii)-orange of wave ((iii))-navy could come back to continue pushing higher. I would look for a Long Trade Setup on support from the Major Level 100.00. Invalidation point: 91.11 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: BLOCK INC. - SQ2 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! -
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Guest DesertSong
On today's chart (26 Jul) yesterday's candle not displayed yet although previous candles are there. Flash player is up to date. Any ideas? Thanks
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