ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis TradingLounge (1D Chart)

Greetings, our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We observe wave 2-grey moving slightly lower, with wave 3-grey potentially returning later to push higher. I will be monitoring and looking for a Long Trade Setup.

ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis

ASX: V300AEQ ETF UNITS – VAS 1D Chart (Semilog Scale) Analysis

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave ((C))-navy of Wave 2-grey

Details: Wave count is updated to increase probability. Wave 2-grey opened as an Expanded Flat, with wave ((b))-navy completing at the high of 100.88. Wave ((c))-navy is pushing lower and may find support around 92.93, with wave 3-grey potentially moving higher afterward.

Invalidation point: 83.45

ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)

ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis

ASX: V300AEQ ETF UNITS – VAS 4-Hour Chart Analysis

Function: Counter trend (Minute degree, navy)

Mode: Corrective

Structure: Flat

Position: Wave ((c))-navy

Details: Wave 2-grey opens as an Expanded Flat, with wave ((c))-navy pushing lower, potentially nearing the low area at 92.93. I will look for evidence when the Flat wave ends and seek a Long Trade Setup afterward.

Invalidation point: 100.88

Conclusion:

Our analysis and forecast of contextual trends, alongside the short-term outlook for ASX: V300AEQ ETF UNITS – VAS, aim to provide readers with insights into current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.

Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

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