TASI Index Elliott Wave Analysis – TradingLounge Daily Chart

TASI Index Elliott Wave Technical Analysis

Technical Analysis Overview

• Function: Bullish Trend
• Mode: Impulsive
• Structure: Gray Wave 3
• Position: Orange Wave 3
• Direction (Next Higher Degrees): Gray Wave 3 (Initiated)
• Details: Gray Wave 2 concluded, and Gray Wave 3 is now in progress.
• Wave Invalidation Level: 11,813.615

This analysis of the TASI Index on the daily chart, utilizing Elliott Wave Theory, highlights a bullish trend in an impulsive mode. The focus is on the development of Gray Wave 3, which began after the successful completion of Gray Wave 2, indicating a significant upward momentum in the market.

Currently, the index is positioned within Orange Wave 3, which forms a part of the larger Gray Wave 3 structure. The emergence of Orange Wave 3 confirms ongoing bullish momentum, in alignment with the higher-degree wave, suggesting a potential continuation of the price rally.

The critical invalidation level is set at 11,813.615, which acts as an important threshold. A decline below this level would invalidate the current bullish wave count, necessitating a revised market analysis and adjustment in wave positioning.

Key Takeaways:

• The analysis affirms a positive outlook for the TASI Index, emphasizing the strength of the ongoing Gray Wave 3, following the completion of Gray Wave 2.
• The presence of Orange Wave 3 reflects continued bullish strength, presenting strategic opportunities for traders.
• The invalidation level at 11,813.615 serves as a crucial benchmark for risk management, ensuring informed decision-making based on Elliott Wave principles.
• This Elliott Wave-based assessment offers a clear market forecast, enabling traders to align their trading strategies with the prevailing bullish trend.

TASI Index Elliott Wave Analysis – Weekly Chart

TASI Index Wave Technical Analysis

Technical Analysis Overview

• Function: Bullish Trend
• Mode: Impulsive
• Structure: Orange Wave 3
• Position: Navy Blue Wave 3
• Direction (Next Higher Degrees): Orange Wave 3 (Initiated)
• Details: Orange Wave 2 completed, and Orange Wave 3 is currently in progress.
• Wave Invalidation Level: 11,574.504

The TASI Index weekly chart analysis, grounded in Elliott Wave Theory, indicates a bullish trend with an impulsive wave structure. The primary focus lies in the development of Orange Wave 3, which has commenced following the completion of Orange Wave 2, suggesting the continuation of the market's upward trajectory.

Currently, the index is situated within Navy Blue Wave 3, a subwave within the broader Orange Wave 3 framework. The advancement of Navy Blue Wave 3 underscores sustained bullish momentum, aligning with the larger Elliott Wave pattern and pointing towards further potential price growth.

The invalidation level for this wave count is set at 11,574.504, serving as a key indicator for market evaluation. A drop below this threshold would nullify the current bullish outlook, warranting a reassessment of the wave structure and overall market direction.

Key Takeaways:

• The weekly analysis maintains a bullish outlook, driven by the ongoing Orange Wave 3, following the successful conclusion of Orange Wave 2.

• The development of Navy Blue Wave 3 signifies sustained upward momentum, presenting traders with potential opportunities for informed market positioning.
• The invalidation level of 11,574.504 provides a critical reference for risk mitigation and strategy reassessment.
• This structured wave analysis offers traders a comprehensive framework for forecasting market movements and optimizing their trading approach in line with the bullish trend.

Technical Analyst: Malik Awais

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