Advanced Elliott Wave Analysis: A Comprehensive Overview of Go
Here’s a detailed analysis of the Elliott Wave chart you provided, with color-coded explanations based on different time frames:
- **Red Waves (Weekly Time Frame)**: These represent the major waves on the weekly chart. The red color is used to signify long-term movements. In the chart, wave (1) is clearly marked after completing five smaller waves, and wave (3) is approaching completion. After this, a corrective wave (4) is anticipated, which is marked in red, indicating a significant market correction.
- **Black Waves (Daily Time Frame)**: The black waves represent intermediate movements on the daily time frame. These waves show medium-term trends and are part of the larger weekly waves. In the chart, you can see waves III and IV on the daily time frame, explaining how the market has moved over the course of days and weeks. These waves are part of the broader weekly waves.
- **Blue Waves (4-Hour Time Frame)**: The blue waves are used to represent shorter-term movements on the 4-hour time frame. These waves reflect short-term price actions and are part of the daily and weekly waves. You can notice smaller waves I, II, and III within the larger wave structure, providing insight into more precise price movements.
### Detailed Explanation:
- **Wave (1) in Red**: This wave represents a long-term peak in the market after five smaller waves (I, II, III, IV, V). After this peak, the price undergoes a correction into wave (2) in red.
- **Wave (2) in Red**: This is a significant market correction, and it's completed, signaling the possibility of the market moving upward in wave (3).
- **Wave (3) in Red**: Currently forming, this wave indicates a strong upward trend. Once this wave is completed, a correction in wave (4) is expected, with potential price targets around 2,348.05 and 2,245.47 USD per ounce.
- **Black and Blue Waves**: These smaller waves depict internal movements within the larger wave (3) in red. The chart shows that the market is making internal upward and corrective moves within the long-term trend.
### Summary:
- **Overall Trend**: The market is in an upward trend on the weekly time frame, forming wave (3).
- **Internal Movements**: There are smaller corrective waves happening within the larger wave structure, signaling minor adjustments before the overall trend completes.
This analysis projects that the market is nearing the completion of wave (3), and a corrective wave (4) is expected in the upcoming weeks.
- **Red Waves (Weekly Time Frame)**: These represent the major waves on the weekly chart. The red color is used to signify long-term movements. In the chart, wave (1) is clearly marked after completing five smaller waves, and wave (3) is approaching completion. After this, a corrective wave (4) is anticipated, which is marked in red, indicating a significant market correction.
- **Black Waves (Daily Time Frame)**: The black waves represent intermediate movements on the daily time frame. These waves show medium-term trends and are part of the larger weekly waves. In the chart, you can see waves III and IV on the daily time frame, explaining how the market has moved over the course of days and weeks. These waves are part of the broader weekly waves.
- **Blue Waves (4-Hour Time Frame)**: The blue waves are used to represent shorter-term movements on the 4-hour time frame. These waves reflect short-term price actions and are part of the daily and weekly waves. You can notice smaller waves I, II, and III within the larger wave structure, providing insight into more precise price movements.
### Detailed Explanation:
- **Wave (1) in Red**: This wave represents a long-term peak in the market after five smaller waves (I, II, III, IV, V). After this peak, the price undergoes a correction into wave (2) in red.
- **Wave (2) in Red**: This is a significant market correction, and it's completed, signaling the possibility of the market moving upward in wave (3).
- **Wave (3) in Red**: Currently forming, this wave indicates a strong upward trend. Once this wave is completed, a correction in wave (4) is expected, with potential price targets around 2,348.05 and 2,245.47 USD per ounce.
- **Black and Blue Waves**: These smaller waves depict internal movements within the larger wave (3) in red. The chart shows that the market is making internal upward and corrective moves within the long-term trend.
### Summary:
- **Overall Trend**: The market is in an upward trend on the weekly time frame, forming wave (3).
- **Internal Movements**: There are smaller corrective waves happening within the larger wave structure, signaling minor adjustments before the overall trend completes.
This analysis projects that the market is nearing the completion of wave (3), and a corrective wave (4) is expected in the upcoming weeks.
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t.me/Trading_Elliot
حسابي شخصي
t.me/omaryunus21
t.me/Trading_Elliot
حسابي شخصي
t.me/omaryunus21
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
قناتي شخصي
t.me/Trading_Elliot
حسابي شخصي
t.me/omaryunus21
t.me/Trading_Elliot
حسابي شخصي
t.me/omaryunus21
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.