TradingLounge TASI Index Elliott Wave Analysis - Day Chart

TASI Index Day Chart Analysis

TASI Index Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Orange wave 3

Position: Navy Blue Wave 3

Next Higher Degree Direction: Orange wave 3 (started)

Details: Orange wave 2 appears completed. Now, orange wave 3 of 3 is in play.

Wave Cancel Invalid Level: 10223.275

Analysis Summary: The TASI Index Elliott Wave Analysis for the daily chart offers detailed insights into the current market trend and wave structure. This technical analysis highlights a trend function, suggesting a clear market direction rather than a corrective phase.

Current Wave Structure: Identified as orange wave 3, which is part of a larger navy blue wave 3.

  • This indicates that the market is in the midst of an impulsive wave phase, characterized by strong and decisive trend movement.
  • The market is positioned within navy blue wave 3, indicating an ongoing and active wave phase.

Next Direction in Wave Sequence: Continuation of orange wave 3, which has already commenced.

  • Following the completion of orange wave 2, the analysis suggests that the trend will persist through orange wave 3 of 3.
  • This phase is crucial as it represents a significant part of the overall trend movement.

Invalidation Level: Set at 10223.275.

  • This level serves as a benchmark for validating or invalidating the current wave count.
  • If the market price falls below this level, the current wave analysis would be invalid, necessitating a reassessment of the market's condition.
  • This invalidation level is essential for risk management and confirming the wave count's accuracy.

In summary, the TASI Index daily chart analysis identifies the market as being in an impulsive trend phase within orange wave 3, part of a larger navy blue wave 3. The analysis expects the trend to continue through orange wave 3 of 3, following the completion of orange wave 2. The wave cancellation invalid level at 10223.275 is crucial for maintaining the validity of the current wave analysis and for effective risk management.

TASI-Index-Daily-Cha...


TradingLounge TASI Index Elliott Wave Analysis - Weekly Chart

TASI Index Weekly Chart Analysis

TASI Index Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Orange wave 3

Position: Navy blue wave 3

Next Higher Degree Direction: Orange wave 3 (started)

Details: Orange wave 2 appears completed. Now, orange wave 3 of 3 is in play.

Wave Cancel Invalid Level: 10223.275

Analysis Summary: The TASI Index Elliott Wave Analysis for the weekly chart provides an in-depth look at the current market trend and wave structure. The primary function of this analysis is to track the trend, indicating a clear directional movement in the market.

Current Wave Structure: Identified as orange wave 3, which is part of a broader navy blue wave 3.

  • This suggests that the market is experiencing a significant and strong movement typical of an impulsive wave phase.
  • The market is positioned within navy blue wave 3, indicating an ongoing and substantial portion of the overall trend movement.

Next Direction in Wave Sequence: Continuation of orange wave 3, which has already commenced.

  • Following the completion of orange wave 2, the analysis indicates that the market trend will likely persist through orange wave 3 of 3.
  • This phase is critical as it represents a continuation of the strong trend movement that defines the impulsive wave.

Invalidation Level: Set at 10223.275.

  • This level acts as a key reference point for validating or invalidating the current wave count.
  • If the market price falls below this level, it would invalidate the current wave analysis, necessitating a reassessment of the market's wave structure.
  • This invalidation level is essential for risk management and ensuring the wave analysis's accuracy.

In summary, the TASI Index weekly chart analysis identifies the market as being in an impulsive trend phase within orange wave 3, which is part of a larger navy blue wave 3. The analysis expects the trend to continue through orange wave 3 of 3, following the completion of orange wave 2. The wave cancellation invalid level at 10223.275 is crucial for maintaining the validity of the current wave analysis and for effective risk management.

Technical Analyst: Malik Awais

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

See previous: Hang Seng Index Elliott Wave Technical Analysis

Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here

Access 7 Analysts Over 170 Markets Covered. Chat Room With Support

TASI-Index-Weekly-Ch...

Related

U.S.Dollar/Canadian Dollar(USD/CAD) Elliott Wave Technical Analysis 15 January 24

U.S.Dollar/Canadian Dollar(USD/CAD) Elliott Wave Technical Analysis 15 January 24

The USD/CAD Elliott Wave Analysis for the daily chart on 15 January 24, suggests that the market is ...

Read More >
Professional perspectives on ASX Trading Success: CSL Limited (CSL) Stock Analysis & Elliott Wave Technical Forecast

Professional perspectives on ASX Trading Success: CSL Limited (CSL) Stock Analysis & Elliott Wave Technical Forecast

Discover actionable insights for trading CSL Limited (CSL) shares on the Australian Stock Exchange (...

Read More >
U.S.Dollar /Canadian Dollar(USD/CAD) Elliott Wave Technical Analysis: Unveils USD/CAD Trading Strategies

U.S.Dollar /Canadian Dollar(USD/CAD) Elliott Wave Technical Analysis: Unveils USD/CAD Trading Strategies

Expert Elliott Wave analysis provides valuable insights into trading strategies for the USD/CAD curr...

Read More >
Explore the latest Elliott Wave analysis for ASX LNW: LIGHT & WONDER INC ASX Trading Success

Explore the latest Elliott Wave analysis for ASX LNW: LIGHT & WONDER INC ASX Trading Success

Explore the latest Elliott Wave analysis for ASX LNW (LIGHT & WONDER INC.). Our expert insights offe...

Read More >
Super Micro Computers Inc. (SMCI) Stocks Elliott Wave Technical Analysis: Stock Chart Trends, and Possible Breakouts

Super Micro Computers Inc. (SMCI) Stocks Elliott Wave Technical Analysis: Stock Chart Trends, and Possible Breakouts

This article provides a comprehensive Elliott Wave analysis of SuperMicro Computers Inc. (SMCI). It ...

Read More >
Elliott Wave Technical Analysis: Indices Overview S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200

Elliott Wave Technical Analysis: Indices Overview S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200

In this analysis, we take a comprehensive look at the S&P 500, NASDAQ 100, Russell 2000, DAX 40, FTS...

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