Logarithmic charts in basic charting (not the paid one)
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By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave C Direction Next higher Degrees: Wave (I) of Impulse Wave Cancel invalid Level: 8.498 Details: the corrective of Wave (II) is equal to 61.8% of Wave (I) at 8.702 Log scale chart ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: The second wave correction is likely to go down to test the 10.585 level before rising again in the third wave. Therefore, the overall picture is a short-term pullback to continue rising. Wait for the correction to complete to rejoin the trend. ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H8 Chart, ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 5 Direction Next higher Degrees: Wave ((C)) of Zigzag Wave Cancel invalid Level: 81.238 Details: The Five-Wave Decline of Wave ((C)) trend to test 11.582 Level ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: The second wave correction is likely to go down to test the 10.585 level before rising again in the third wave. Therefore, the overall picture is a short-term pullback to continue rising. Wait for the correction to complete to rejoin the trend. ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
ASX: MINERAL RESOURCES LIMITED – MIN Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with MINERAL RESOURCES LIMITED – MIN. We determine that MIN may be correcting with wave ((2))-red for a while longer, after which wave ((3))-red may return to continue pushing higher. ASX: MINERAL RESOURCES LIMITED – MIN Elliott Wave Technical Analysis ASX: MINERAL RESOURCES LIMITED – MIN 1D Chart (Semilog Scale) Analysis Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave ((3))-red of Wave iii-blue of Wave (iii)-purple Details: The shorter-term outlook indicates that both wave (1)-blue and wave (2)-blue have concluded, with wave (3)-blue initiated since the low at 52.52. The anticipated direction is upwards, initially targeting 75.23, and a break beyond this level would extend towards 84.03, while maintaining levels below 65.36 is a significant advantage and a strong resistance level for this perspective. Invalidation point: 61.00 ASX: MINERAL RESOURCES LIMITED – MIN Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: MINERAL RESOURCES LIMITED – MIN Elliott Wave Technical Analysis ASX: MINERAL RESOURCES LIMITED – MIN 4-Hour Chart Analysis Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave ((3))-red of Wave iii-blue of Wave (iii)-purple Details: The further short-term outlook shows that wave iii-blue is unfolding, and it is subdividing into wave ((1))-red, and perhaps it has recently peaked, now is the time for wave ((2) )-red opens to push lower, it may find support around 66.78 - 65.36, and after it ends, wave ((3))-red may return to push even higher . Invalidation point: 64.82 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: MINERAL RESOURCES LIMITED – MIN 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). -
Hi @Franswa38, Can you please confirm the opening price and the price at the time you took this screenshot? If the position is up by 42 pips and you are trading at $5 per pip, the amount shouldn't be that low. Do you have a screenshot that includes the price? Also, do you know the time this screenshot was taken? Regards, AshishIG
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