22Nov

British Pound/Japanese Yen(GBPJPY) Elliott Wave Technical Analysis 22 November 23

GBPJPY Elliott Wave Analysis Trading Lounge 4 Hour  Chart, 22 November 23

British Pound/Japanese Yen(GBPJPY) 4 Hour Chart

GBPJPY Elliott Wave Technical Analysis

Function:  Trend

Mode: impulsive

Structure:  blue wave 5 of black wave 5

Position: Black wave 5

Direction Next Higher Degrees: blue wave 5 of 5(started)

Details: blue wave 4 of 5 looking completed at  184.461, now blue wave 5 of 5 is in play .  Wave Cancel invalid level: 183.942

The "GBPJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart" dated November 22, 2023, provides a comprehensive analysis of the British Pound/Japanese Yen (GBPJPY) currency pair using the Elliott Wave theory. This analysis is tailored for a 4-hour chart, offering insights into potential price movements over a shorter time frame.

The designated "Function" is identified as "Trend," suggesting that the analysis is focused on identifying and riding the current trend in the market. The market is presently in an "Impulsive" mode, indicating a strong directional bias in the price movements.

The specific "Structure" being analyzed is denoted as "Blue wave 5 of black wave 5." This implies a detailed examination of a specific sub-wave within the broader Elliott Wave sequence, focusing on the fifth wave within the larger fifth wave.

The "Position" is clarified as "Black wave 5," suggesting that the analysis is centered around the fifth wave of the broader Elliott Wave structure, providing insights into the potential completion of the current cycle.

Concerning the "Direction; Next Higher Degrees," the analysis points to "Blue wave 5 of 5 (started)." This suggests an expectation of upward movement at a higher degree within the broader Elliott Wave structure, indicating a continuation of the ongoing bullish phase.

In terms of "Details," the report notes that "blue wave 4 of 5 looking completed at 184.461, now blue wave 5 of 5 is in play." This implies a focus on the completion of the corrective wave (blue wave 4) and the initiation of the next impulsive wave (blue wave 5). The "Wave Cancel invalid level" is set at 183.942, providing traders with a crucial reference point. A breach of this level could challenge the current wave count, prompting traders to reassess their analysis and trading strategies.

In summary, the GBPJPY Elliott Wave Analysis on the 4-hour chart indicates an impulsive bullish movement within a larger Elliott Wave structure. The analysis emphasizes the completion of a corrective phase and the initiation of the next impulsive wave, providing traders with valuable insights for decision-making.

Technical Analyst : Malik Awais

Source : Tradinglounge.com get trial here!

GBPJPY-Forex-4Hr-Cha...


 

GBPJPY Elliott Wave Analysis Trading Lounge Day  Chart, 22 November 23

British Pound/Japanese Yen(GBPJPY) Day Chart

GBPJPY Elliott Wave Technical Analysis

Function:  Trend

Mode: impulsive  

Structure:  blue wave 5 of black wave 5  

Position: Black wave 5

Direction Next Higher Degrees: blue wave 5 of 5(started)

Details: blue wave 4 of 5 looking completed at  184.461, now blue wave 5 of 5 is in play .  Wave Cancel invalid level: 183.942

The "GBPJPY Elliott Wave Analysis Trading Lounge Day Chart" dated 23 November 23, offers an in-depth examination of the British Pound/Japanese Yen (GBPJPY) currency pair using Elliott Wave theory. This analysis is conducted on a daily chart, providing insights into potential longer-term price movements.

The identified "Function" is labeled as "Trend," indicating that the focus of the analysis is on identifying and capitalizing on the prevailing trend in the market. The market is currently assessed to be in an "Impulsive" mode, suggesting a strong and sustained directional movement.

The specific "Structure" being analyzed is denoted as "Blue wave 5 of black wave 5." This signifies a detailed study of a sub-wave within the larger Elliott Wave structure, specifically the fifth wave within the broader fifth wave.

The designated "Position" is clarified as "Black wave 5," indicating that the analysis is centered around the fifth wave of the broader Elliott Wave structure, offering insights into the potential completion of the current cycle.

Concerning the "Direction; Next Higher Degrees," the analysis points to "Blue wave 5 of 5 (started)." This implies an expectation of upward movement at a higher degree within the overarching Elliott Wave structure, indicating a continuation of the current bullish phase.

In terms of "Details," the report notes that "blue wave 4 of 5 looking completed at 184.461, now blue wave 5 of 5 is in play." This suggests a focus on the conclusion of a corrective wave (blue wave 4) and the initiation of the next impulsive wave (blue wave 5). The "Wave Cancel invalid level" is set at 183.942, providing a critical reference point. A breach of this level could challenge the current wave count, prompting traders to reassess their analysis and trading strategies.

In summary, the GBPJPY Elliott Wave Analysis on the daily chart indicates an impulsive bullish movement within a larger Elliott Wave structure. The analysis highlights the completion of a corrective phase and the initiation of the next impulsive wave, providing traders with valuable insights for longer-term decision-making.

GBPJPY-Forex-Day-Cha...

Related

Navigate the Upcoming Corrections and Future Waves in the Cardano Crypto Market: ADAUSD Elliott Wave Technical Analysis

Navigate the Upcoming Corrections and Future Waves in the Cardano Crypto Market: ADAUSD Elliott Wave Technical Analysis

This article provides a detailed Elliott Wave analysis of Cardano (ADAUSD), offering predictions on ...

Read More >
Unlock the Future of Brambles Limited Stock with Expert BXB Elliott Wave Analysis: ASX Stock Forecast Revealed

Unlock the Future of Brambles Limited Stock with Expert BXB Elliott Wave Analysis: ASX Stock Forecast Revealed

This detailed analysis of Brambles Limited (BXB) on the Australian Stock Exchange (ASX) provides ins...

Read More >
British Pound/Australian Dollar Forex Currency Pair, Highlighting the Potential Future Movements GBPAUD Elliott Wave Technical Analysis

British Pound/Australian Dollar Forex Currency Pair, Highlighting the Potential Future Movements GBPAUD Elliott Wave Technical Analysis

This article provides a comprehensive Elliott Wave analysis of the GBPAUD currency pair, highlightin...

Read More >
Binance Coin Crypto News Today: Elliott Wave Technical Analysis of BNB/USD Navigating the Bullish Momentum

Binance Coin Crypto News Today: Elliott Wave Technical Analysis of BNB/USD Navigating the Bullish Momentum

Dive into the world of cryptocurrency with our detailed Elliott Wave analysis of BNB/USD. This guide...

Read More >
IBEX 35 (Spain) Index Elliott Wave Technical Analysis: Stay Ahead with the Latest Market Trends and Forecasts

IBEX 35 (Spain) Index Elliott Wave Technical Analysis: Stay Ahead with the Latest Market Trends and Forecasts

This article provides a comprehensive IBEX 35 Elliott Wave Analysis, focusing on Spain's stock m...

Read More >
Ultimate Commodity Market Elliott Wave Guide: Bitcoin, Ethereum, Gold & More

Ultimate Commodity Market Elliott Wave Guide: Bitcoin, Ethereum, Gold & More

Commodity Market Elliott Wave Analysis for Bitcoin (BTC), Ether ETH/USD, Crypto Index, TLT Bonds, US...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on