V300AEQ ETF Units Elliott Wave technical forecast [Video]

ASX: VAS Elliott Wave technical analysis

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We see ASX:VAS rising with wave ((iii))-navy, but in the short term a pullback with wave (ii)-orange is probably needed before its wave (iii)-orange pushes further higher.

ASX: VAS one-day chart (semilog scale) analysis

Function: Major trend (Minor degree, grey).

Mode: Motive.

Structure: Impulse.

Position: Wave ((iii))-navy of Wave 3-grey.

Details: Wave ((iii))-navy is unfolding to push higher, while price must remain above 101.29. A push lower would indicate that the ALT (Alternate Wave Count) is active, as the entire wave ((ii))-navy is not really over yet and there is still a push lower.

Invalidation point: 101.29.

ASX: VAS four-hour chart analysis

Function: Major trend (Minute degree, navy).

Mode: Motive.

Structure: Impulse.

Position: Wave v-grey of Wave (i)-orange of Wave ((iii))-navy.

Details: Since the low at 100.01 wave (i)-orange is probably unfolding, and I see quite a bit of overlap with the three-waves, so it could be developing as a Diagonal. Then wave (ii)-orange could have a pullback lower and finally wave (iii)-orange should continue pushing higher. 

Invalidation point: 100.01.

Conclusion

Our analysis, forecast of contextual trends, and short-term outlook for ASX: V300AEQ ETF UNITS – VAS 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.

V300AEQ ETF Units Elliott Wave technical forecast [Video]