My usd/jpy chart reading incongruent with live chart
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10/06/21 10:53
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Dear @TheDuiker, Thank you for your request. Please note that the above stocks already exist on our platform and can only be offered for institutional and share dealing accounts because of the high broker margin. Thanks, KoketsoIG -
By tradinglounge · Posted
GBPAUD Elliott Wave Analysis Trading Lounge Day Chart, 28 November 23 British Pound/ Australian Dollar(GBPAUD) Day Chart GBPAUD Elliott Wave Technical Analysis Function: Trend Mode: impulsive Structure:blue wave 1 of black wave 3 Position: black wave 3 Direction Next lower Degrees:blue wave 1(continue) Details: After black wave 2 now blue wave 1 of black wave 3 is in play . Wave Cancel invalid level: 1.93233 The "GBPAUD Elliott Wave Analysis Trading Lounge Day Chart" dated 28 November 23, provides an insightful examination of the British Pound/Australian Dollar (GBPAUD) currency pair using Elliott Wave analysis. Conducted on a daily chart, this analysis aims to capture the broader market trends, emphasizing the impulsive nature of the market movements. The identified "Function" in this analysis is labeled as "Trend," indicating a focus on identifying and riding the overarching directional movements in the market. The market is currently in "Impulsive" mode, suggesting that strong and sustained directional movements are expected. The specific "Structure" under scrutiny is described as "blue wave 1 of black wave 3." This signifies an analysis of the first impulsive wave within a larger Elliott Wave structure, emphasizing the hierarchical nature of wave patterns. The designated "Position" is clarified as "black wave 3," indicating the larger degree wave within the Elliott Wave structure. This implies a substantial and sustained trend in the direction specified. Concerning the "Direction Next Lower Degrees," the analysis points to "blue wave 1 (continue)." This implies that the impulsive wave at a lower degree (blue wave 1) is still in progress, reinforcing the expectation of ongoing strong directional movements. In terms of "Details," the report notes, "After black wave 2, now blue wave 1 of black wave 3 is in play." This indicates a transition from a corrective wave (black wave 2) to the initiation of the first impulsive wave within the larger degree wave structure. The "Wave Cancel invalid level" is set at 1.93233, serving as a critical reference point for traders. This level provides guidance on potential invalidation of the current wave count and highlights a key level to monitor. In summary, the GBPAUD Elliott Wave Analysis on the daily chart signals a sustained trend, with the initiation of the first impulsive wave within a larger degree structure. Traders are provided with valuable insights for medium-to-long-term decision-making, with the invalidation level serving as a crucial guide. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
Losses in Europe and on Wall Street were matched overnight by a lacklustre session for Asian indices, though the ASX 200 managed to push higher by 0.4%. ECB head Christine Lagarde warned that job growth may slow by year-end, while reminding investors that there were no plans to cut rates in the near future, despite the run of poor data coming out of the eurozone. Fast-fashion company Shein dominated the news on reports it would look to go public next year, with current projections giving it a valuation of $80-90 billion. Today's US consumer confidence figure is the main economic data point, but speakers from the Fed, ECB and BoE are all scheduled for this evening.
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