GBPAUD Elliott Wave Analysis Trading Lounge Day Chart,    

British Pound/ Australian Dollar(GBPAUD) Day Chart Analysis

GBPAUD Elliott Wave Technical Analysis

FUNCTION: Counter Trend              

MODE: Corrective              

STRUCTURE: Blue wave C              

POSITION: Black Wave 2            

DIRECTION NEXT LOWER  DEGREES: black wave 3            

DETAILS: blue wave B of 2 looks completed and blue wave C of 2 is in play. Wave Cancel invalid level: 1.99747    

The GBPAUD Elliott Wave Analysis for the day chart offers valuable insights into the potential price movements of the British Pound/Australian Dollar currency pair, utilizing Elliott Wave principles within technical analysis.

Identified as a "Counter Trend" scenario, the analysis indicates that the current market direction opposes the broader trend, suggesting a corrective phase or potential reversal from the prevailing price movement.

Characterized as "Corrective" in mode, the analysis suggests that the current price action is part of a corrective wave pattern, indicating a temporary deviation from the primary trend.

The "STRUCTURE" is defined as "Blue wave C," signifying that the market is currently within the C wave of a corrective pattern. This typically represents the final leg of the corrective structure before the resumption of the larger trend.

Positioned as "Black wave 2," the analysis provides insights into the current wave count within the broader Elliott Wave cycle. This helps traders identify potential reversal levels or corrective targets within the larger wave structure.

The "DIRECTION NEXT LOWER DEGREES" is stated as "Black wave 3," indicating the anticipated direction for the subsequent lower-degree wave. This suggests that once the current corrective phase concludes, the market may resume its downward movement in the broader Elliott Wave cycle.

In the "DETAILS" section, it is noted that "blue wave B of 2 looking completed, and blue wave C of 2 is in play." This suggests that the corrective phase has likely concluded, and the market is now poised for a reversal or continuation of the larger trend.

The "Wave Cancel invalid level" is specified as 1.99747, serving as a critical threshold. A breach beyond this level would invalidate the current wave count, prompting a reevaluation of the analysis.

In summary, the GBPAUD Elliott Wave Analysis for the day chart provides traders with valuable insights into potential price movements, corrective phases, and critical levels to monitor for trading opportunities within the broader Elliott Wave structure.

GBPAUD-Day-Forex-Cha...

 


 

GBPAUD Elliott Wave Analysis Trading Lounge 4-Hour Chart,    

British Pound/ Australian Dollar(GBPAUD) 4 Hour Chart Analysis

GBPAUD Elliott Wave Technical Analysis

FUNCTION: Counter Trend              

MODE: Corrective              

STRUCTURE: Blue wave C              

POSITION: Black Wave 2            

DIRECTION NEXT LOWER  DEGREES: Black wave 3          

DETAILS: blue wave B of 2 looks completed and blue wave C of 2 is in play. Wave Cancel invalid level: 1.99747 

The GBPAUD Elliott Wave Analysis for the 4-hour chart presents insights into potential price movements of the British Pound/Australian Dollar currency pair, employing Elliott Wave principles within technical analysis.

Defined as a "Counter Trend" scenario, the analysis suggests that the current market direction contradicts the broader trend, indicating a corrective phase or reversal from the prevailing price movement.

Characterized as "Corrective" in mode, the analysis indicates that the current price action is part of a corrective wave pattern rather than an impulsive move in the direction of the primary trend.

The "STRUCTURE" is identified as "Blue wave C," implying that the market is currently within the C wave of a corrective pattern, typically denoting the final leg of a corrective structure.

Positioned as "Black Wave 2," the analysis indicates the current wave count within the larger Elliott Wave cycle, providing insights into potential reversal levels or corrective targets.

The "DIRECTION NEXT LOWER DEGREES" is stated as "Black wave 3," suggesting the anticipated direction for the subsequent lower-degree wave. This implies that once the current corrective phase is completed, the market may resume its downward movement in the larger Elliott Wave cycle.

In the "DETAILS" section, it is mentioned that "blue wave B of 2 looking completed and blue wave C of 2 is in play." This suggests that the corrective phase has likely ended, and the market is now poised for a reversal or continuation of the larger trend.

The "Wave Cancel invalid level" is specified as 1.99747, serving as a critical threshold. A breach beyond this level would invalidate the current wave count, necessitating a reassessment of the analysis.

In summary, the GBPAUD Elliott Wave Analysis for the 4-hour chart provides traders with valuable insights into potential price movements, corrective phases, and critical levels to monitor for trading opportunities within the broader Elliott Wave structure.

Technical Analyst: Malik Awais

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: Australian Dollar/U.S.Dollar(AUDUSD)

 TradingLounge Once Off SPECIAL DEAL: Here > 1 month Get 3 months.

GBPAUD-4Hr-Forex-Cha...

Related

Shanghai Composite Elliott Wave Analysis: Unlock Market Trends, Predict Future Moves & Maximize Your Trading Profits!

Shanghai Composite Elliott Wave Analysis: Unlock Market Trends, Predict Future Moves & Maximize Your Trading Profits!

This Shanghai Composite Elliott Wave Analysis provides a detailed outlook on the current stock marke...

Read More >
Russell 2000 Elliott Wave Analysis Forecasts Bullish Trend, Offering Trading Strategies, Predictions, and Key Investment Opportunities

Russell 2000 Elliott Wave Analysis Forecasts Bullish Trend, Offering Trading Strategies, Predictions, and Key Investment Opportunities

Discover Russell 2000 Elliott Wave analysis covering forecast trends, trading strategies, daily and ...

Read More >
Bitcoin Elliott WaveTechnical Analysis:Bitcoin Price Prediction and Uptrend Trading Insights

Bitcoin Elliott WaveTechnical Analysis:Bitcoin Price Prediction and Uptrend Trading Insights

Explore detailed Bitcoin Elliott Wave analysis and BTCUSD price predictions. Learn about Wave V, bul...

Read More >
Euro/British Pound(EURGBP) Forex Elliott Wave Technical Analysis: A Comprehensive Overview for Traders

Euro/British Pound(EURGBP) Forex Elliott Wave Technical Analysis: A Comprehensive Overview for Traders

This article provides an in-depth Elliott Wave analysis of the EURGBP currency pair, highlighting ke...

Read More >
NEOUSD Elliott Wave Technical  Analysis: Latest Price Prediction, WXY Correction Pattern, and Market Trend Insights

NEOUSD Elliott Wave Technical Analysis: Latest Price Prediction, WXY Correction Pattern, and Market Trend Insights

NEOUSD is currently experiencing a corrective counter-trend movement, forming a zigzag (WXY) pattern...

Read More >
GRASIM Industries Bullish Elliott Wave 3 Forecast: Indian Stock Technical Chart Setup with Key Support and Strong Uptrend Signal

GRASIM Industries Bullish Elliott Wave 3 Forecast: Indian Stock Technical Chart Setup with Key Support and Strong Uptrend Signal

GRASIM Industries shows a bullish Elliott Wave structure with wave 3 now active, suggesting strong u...

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