ASX Limited Elliott Wave technical forecast [Video]
|ASX: ASX LIMITED - ASX Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with ASX LIMITED - ASX. We determined that wave 2-grey may have ended and wave 3-grey was opened to push higher.
ASX: ASX Limited - ASX Elliott Wave technical analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave 3-grey.
Details: I would wait for the ML65 level to turn into support, then we would look for an ABC Correction to buy higher with ASX LIMITED.
Invalidation point: 61.36.
ASX: ASX Limited four-hour chart analysis
Function: Major trend (Minuette degree, orange).
Mode: Motive.
Structure: Impulse.
Position: Wave (i)-orange.
Details: The shorter-term outlook shows that since the low at 61.36, wave 2-grey appears to have ended, and this allows wave 3-grey to unfold to push higher. Wave (i)-orange is unfolding and is fulfilling its role, following which wave (ii)-orange will unfold as ABC. We will be watching ASX LIMITED for a Long Trade Setup.
Invalidation point: 61.36.
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: ASX LIMITED - ASX aim to provide readers with insights into the 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 the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.
ASX Limited Elliott Wave technical forecast [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.