ASX: V300AEQ ETF UNITS – VAS Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We confirmed that wave 2-red has ended and wave 3-red is opening to push higher.ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis ASX: V300AEQ ETF UNITS – VAS 1D Chart (Semilog Scale) AnalysisFunction: Major trend (Minor degree, grey)
Mode: Motive
Structure: Impulse
Position: Wave ((iii))-navy of Wave 3-grey
Details: The short-term outlook shows that wave ((ii))-navy has just ended and it seems that wave ((iii))-navy is opening to push higher, while price must always maintain above 94.64 to maintain this view.
Invalidation point: 94.64
ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis
TradingLounge (4-Hour Chart)ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical AnalysisASX: V300AEQ ETF UNITS – VAS 4-Hour Chart AnalysisFunction: Major trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave (i)-orange of Wave ((iii))-navy
Details: The shorter term outlook shows that wave ((i))-navy has just ended at 94.64 and wave ((iii))-navy is unfolding, it is subdividing into wave (i)-orange, it will push a little higher, then wave (ii)-orange will open to push lower, and then wave (iii)-orange will begin its work of taking the VAS much higher.Invalidation point: 94.64
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.Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).More By This Author:Comprehensive Elliott Wave Analysis: Bitcoin, Gold, Oil & More
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