TradingLounge Index KOSPI Composite Elliott Wave Analysis - Daily Chart

KOSPI Composite Day Chart Analysis

KOSPI Composite Elliott Wave Analysis

Function: Counter Trend

Mode: Corrective

Structure: Gray Wave 2

Position: Orange Wave 3

Next Higher Degrees Direction: Gray Wave 3

Wave Cancel Invalid Level: 2551.59

The KOSPI Composite day chart analysis uses Elliott Wave Theory to detail market movements. The current function is a counter trend, indicating a move against the main trend.

Mode and Structure:

  • Mode: Corrective, indicating retracement or consolidation.
  • Structure: Gray Wave 2, a corrective wave within the Elliott Wave framework.

Current Position:

  • Position: Within Orange Wave 3, the third wave in the orange wave sequence. Wave 3 usually shows strong, impulsive traits.

Next Higher Degrees:

  • Direction: Toward Gray Wave 3. After Gray Wave 2, the market is expected to move into Gray Wave 3, an impulsive wave resuming the primary trend.

Details:

  • Following Gray Wave 1, the market is in the corrective phase of Gray Wave 2 of 3. This sets up the market for the next significant move, Gray Wave 3 of 3. Gray Wave 2 is preparatory for the next impulsive phase.

Wave Cancel Invalid Level:

  • Critical Level: 2551.59. Falling below this invalidates the current wave analysis, requiring reevaluation.

Summary:

The KOSPI Composite day chart indicates a corrective phase, Gray Wave 2 within Orange Wave 3. The next move is expected to transition into Gray Wave 3, resuming the primary trend. The wave cancel invalid level is 2551.59, key for validation.

KOSPI-Composite-Inde...


TradingLounge Index KOSPI Composite Elliott Wave Analysis - Weekly Chart

KOSPI Composite Weekly Chart Analysis

Elliott Wave Analysis by Trading Lounge

Function: Trend

Mode: Impulsive

Structure: Orange Wave 3

Position: Navy Blue Wave 3

Next Lower Degrees Direction: Orange Wave 4

Wave Cancel Invalid Level: 2551.59

The KOSPI Composite weekly chart analysis uses Elliott Wave Theory to interpret market behavior. The current movement is identified as a trend, aligning with the primary market direction.

Mode and Structure:

  • Mode: Impulsive, suggesting strong directional market moves.
  • Structure: Orange Wave 3, a significant wave in the Elliott Wave sequence.

Current Position:

  • Position: Within Navy Blue Wave 3, a major phase with substantial moves and trading activity.

Next Lower Degrees:

  • Direction: Towards Orange Wave 4. After the impulsive Orange Wave 3, the market is expected to enter a corrective phase, Orange Wave 4, retracing some gains.

Details:

  • Orange Wave 2 appears completed, setting the stage for Orange Wave 3 of 3. This represents a strong, impulsive move within the broader trend, often with significant price movements and volatility.

Wave Cancel Invalid Level:

  • Critical Level: 2551.59. Falling below this invalidates the current wave analysis, requiring reevaluation.

Summary:

The KOSPI Composite weekly chart indicates an impulsive phase, Orange Wave 3 within Navy Blue Wave 3. The next move is expected to transition into Orange Wave 4, a corrective phase. The wave cancel invalid level is 2551.59, key for validation.

Technical Analyst: Malik Awais

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