By tradinglounge · Posted 4 minutes ago
ASX: ASX LIMITED - ASX Elliott Elliott Wave Technical Analysis TradingLounge(1D Chart)Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange(ASX) with ASX LIMITED - ASX. We observe that ASX LIMITED is approachingthe end of wave 2-grey, but needs more evidence on price action for confirmation, alsoallowing wave 3-grey to be opened to push higher thereafter.ASX: ASX LIMITED - ASX Elliott Wave Technical Analysis ASX: ASX LIMITED - ASX 1D Chart (Semilog Scale) AnalysisFunction:Major (Minor degree, grey) Mode:Motive Structure:Impulse Position:Wave (c)-orange of Wave ((y))-navy of Wave 2-grey Details:The short-term outlook indicates that the price has continued to declinelonger than expected, with wave 2-grey retracing quite deeply. Essentially, it maycontinue this action. However, a drop below 53.98 will call for a reassessment of thesituation.Invalidation point:53.98ASX: ASX LIMITED - ASX Elliott Wave Technical Analysis TradingLounge (4- Hour Chart)ASX: ASX LIMITED - ASX Elliott Wave Technical AnalysisASX: ASX LIMITED - ASX 4-Hour Chart AnalysisFunction:Major (Minor degree, grey) Mode:Corrective Structure:Double Zigzag Position:Wave (c)-orange of Wave ((y))-navy of Wave 2-greyDetails:The short-term outlook shows that wave (c)-orange is about to complete, andat the same time it will also complete wave 2-grey, allowing wave 3-grey to open topush higher. The important thing is that the price needs to rise above 59.39, which isalso the first step to renew the long-term bullish view with wave 3-grey.Invalidation point:64.32Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: ASXLIMITED - ASX aim to provide readers with insights into the current market trendsand how to capitalize on them effectively. We offer specific price points that act asvalidation or invalidation signals for our wave count, enhancing the confidence in ourperspective. By combining these factors, we strive to offer readers the most objectiveand professional perspective on market trends.Technical Analyst:Hua (Shane) Cuong, CEWA-M (Master’s Designation).Source : Tradinglounge.com get trial here!
Do not get discouraged by the current price of Bitcoin
By Verica · Posted 5 hours ago
I overheard a discussion between two friends and one was telling the other that Bitcoin is a scam and that a lot of people preached about the halving and how people could cashout from it. The other friend was trying to convince him to continue holding his asset but he refused and replied that nothing would stop him from selling the coins he's holding. When I heard that man mentioned cashing out from the halving, I understood that he might know about Bitcoin but he's not properly enlightened concerning it. A lot of expectations were cut short after the halving event cause most people expected Bitcoin to set a new height of $80k but then it didn't even get close to the previous all time high and have reduced below $60k currently. I think people shouldn't get discourage by that, though I didn't experience other halvings cause I had zero knowledge about Bitcoin then but i think something similar have occurred before in one of the previous halving where Bitcoin price didn't go up as expected but later traced back and went up after some period, a lot of people might begin to panic and sell their coins but I still see this an opportunity to buy more Bitcoin and for those who are not opportuned to do so, holding is the best option, please correct me if you think am wrong
By tradinglounge · Posted 7 hours ago
S&P 500, SPY, NASDAQ 100, QQQ, RUSSELL 2000, DAX 40, FTSE 100, ASX 200. Featuring Elliott Wave Technical Analysis Elliott Wave Analysis Indices: Triple Witching Friday 21 June - SP500 and NASDAQ 100: Both indices are in Elliott Wave v of (iii) of iii) of 3 of (5) of 3) of I. The ETFs SPY and QQQ share the same pattern. - RUT (IWM), DAX, and FTSE 100: These indices are struggling to lift off lows. They may need another low to complete their corrective patterns. We are looking for long trade setups if certain levels are met. - ASX 200: Needs to develop support at 7800 to confirm an uptrend and avoid a larger Elliott Wave Triangle pattern. Trading Strategies: - Holding long positions in SP500, NASDAQ, SPY, and QQQ, which are currently the best trade positions. Video Chapters 00:00 SP 500 (SPX), SPY ETF 07:27 NASDAQ (NDX), QQQ ETF 13:39 Russell 2000 (RUT) IWM ETF 15:15 DAX 40 (DAX) 16:33 FTSE 100 UKX (UK100) 19:18 S&P/ASX 200 (XJO) 25:39 End Analyst Peter Mathers TradingLounge
