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10/06/21 10:53
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By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, 2 June 23, AAVE Token/U.S.dollar(AAVEUSD) AAVEUSD Elliott Wave Technical Analysis Function: Reactionary(Counter Trend) Mode: Corrective Structure: Double Combined Position: Wave (Y) Direction Next higher Degrees: Wave ((2)) of Motive Details: Wave ((2)) may have ended at the level of 60.171. Five waves of rise and break of the level of 74.219 will support this idea. Wave Cancel invalid Level: 60.171 AAVE Token/U.S.dollar(AAVEUSD)Trading Strategy: Wave ((2)) may end at the level of 60.171, five rising waves will support this idea. but even so Price Remains in Bear Market Control As it is below the MA200 line, there is still a risk of entering a long position. AAVE Token/U.S.dollar(AAVEUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are Bearish momentum. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Source : Tradinglounge.com get trial here! Elliott Wave Analysis TradingLounge 4H Chart, 2 June 23, AAVE Token/U.S.dollar(AAVEUSD) AAVEUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 3 Direction Next higher Degrees: Wave (1) of Motive Details: Wave 3 is usually equal to 1.618 multiplied Length of wave 1 Wave Cancel invalid Level: 60.171 AAVE Token/U.S.dollar(AAVEUSD)Trading Strategy: Wave ((2)) may end at the level of 60.171, five rising waves will support this idea. but even so Price Remains in Bear Market Control As it is below the MA200 line, there is still a risk of entering a long position. AAVE Token/U.S.dollar(AAVEUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are Bearish momentum. -
Look ahead to 2/6/23: US jobs; Baker Hughes rig count After the stronger than expected private payrolls number from ADP, risks would seem to be on the upside for the US non-farm jobs number on Friday. Jeremy Naylor | Analyst, London | Publication date: Thursday 01 June 2023 IGTV’s Jeremy Naylor looks at USD/JPY as a potential trade. Outside of this watch Brent around the Baker Hughes rig count. -
What's the next move following the bank run that led to a rally in US stocks? The markets have been giving us hints on its coming trend, which markets are they? Deploying market psychology not only helps us to connect the dots in today’s complexity, it also gives us the simplicity to chart into the future. In this session, we have invited market veteran, Wong Kon How, to help you improve your trading literacy and successfully navigate the financial markets. Kon How will demonstrate how he understands today’s market complexity and seizes the coming opportunity with behavioral science.
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Question
tc5tewart
Hi all, I have recently started spreadbetting with a focus on the FTSE100 solely for now. I have previous experience with charts from crypto and share dealing although I definitely have a lot to learn.
I'm watching a video by David Weis where he's explaining the way he uses Wykcoff/volume analysis which looks like something I'd like to use. There should be a screenshot here where his chart displays the volume as a no. per 100/1000 contracts, at certain highs and lows, using a weak uplift to suggest a possible downturn and vice versa. He says his program shows these numbers automatically rather than having to calculate manually and add the number to the chart as text.
Is there anywhere on the IG platform that allows you do this? I seem to have tried every available analysis option on the dropdown menu, obviously there is volume which displays below the chart although as he says this is not always that clear depending on the timeframe used.
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