TJX Elliott Wave Analysis Trading Lounge Daily Chart,
The TJX Companies Inc., (TJX) Daily Chart
TJX Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {v} of 3.
Direction: Top in wave {v}.
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]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
AUD/USD: The 200-day SMA holds the downside…for now
Quite a volatile session saw AUD/USD end barely changing from Friday’s closing levels around 0.6660, down slightly amidst the continuation of the robust performance of the US Dollar.
EUR/USD remains supported near 1.1030
EUR/USD kicked off the new trading week on the defensive, adding to Friday’s pullback following an extra advance in the Greenback and ahead of the release of US CPI later in the week.
Gold holds ground around $2,500
Gold (XAU/USD) rebounds toward $2,500 on Monday after falling below $2,490 earlier in the day. Rising US Treasury bond yields and the renewed US Dollar strength, however, seems to be limiting XAU/USD's upside.
What’s next for Ripple after XRP reserve on Binance declines by 167 million tokens
Ripple (XRP) reserve on one of the largest crypto exchanges, Binance, declined by 167 million in a time frame of five weeks. This is a key development for XRP holders since a decline in the asset’s reserves on exchanges implies there are fewer XRP tokens to sell.
Week ahead: ECB poised to cut again, US CPI to get final say on size of Fed cut
ECB is expected to ease again, but will it be another ‘hawkish cut’? US CPI report will be the last inflation update before September FOMC. UK monthly data flurry begins with employment and GDP numbers.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.