Details: Looking for further upside into wave {v}, knowing we could also have a top in wave {v} in place, and we are now entering a deeper correction in Minor wave 4.

TJX Elliott Wave Analysis Trading Lounge 4H Chart,

The TJX Companies Inc., (TJX) 4H Chart

TJX Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Sub minuette wave c.

Direction: Bottom in wave c.

Details: Looking for one more leg lower into wave c, as volume seems to be suggesting buyer may be entering the market.

Welcome to our latest Elliott Wave analysis for The TJX Companies Inc. (TJX). This analysis provides an in-depth look at TJX's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on TJX's market behavior.

TJX Elliott Wave technical analysis – Daily chart

We are looking for further upside into wave {v}, acknowledging the possibility that a top in wave {v} might already be in place. This scenario would imply an imminent deeper correction in Minor wave 4. Traders should be cautious and watch for signs of a potential top forming.

TJX Elliott Wave technical analysis – Four-hour chart

The 4-hour chart indicates the potential for one more leg lower into wave c. Volume analysis suggests that buyers may be entering the market, which could signify a bottom forming in wave c. This would align with the anticipated completion of the corrective structure, leading to a resumption of the upward trend.

Technical analyst: Alessio Barretta.

TJX Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

EUR/USD hovers around nine-day EMA above 1.1800

EUR/USD remains in the positive territory after registering modest gains in the previous session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator at 54 is edging higher, signaling improving momentum. RSI near mid-50s keeps momentum balanced. A sustained push above 60 would firm bullish control.

GBP/USD holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

Gold sticks to gains above $5,000 as China's buying and Fed rate-cut bets drive demand

Gold surges past the $5,000 psychological mark during the Asian session on Monday in reaction to the weekend data, showing that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Federal Reserve expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.