ASX: BLOCK INC. - SQ2 Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart).
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with BLOCK INC. - SQ2. We confirm a trading opportunity when wave ii-blue is unfolded to push lower, then the focus will be on the push higher with wave iii-blue.
ASX: Block Inc. - SQ2 Elliott Wave technical analysis
ASX: BLOCK INC. - SQ2 1D Chart (Semilog Scale) Analysis
Function: Major trend (Intermediate degree, blue).
Mode: Motive.
Structure: Impulse.
Position: Wave 3-red of Wave (3)-blue.
Details: The short-term outlook suggests that wave 2-red appears to have ended, and wave 3-red is being opened to push higher. Increasing above the level of 122.67 would renews and significantly increases confidence in this outlook.
Invalidation point: 103.84.
Elliott Wave analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
ASX: BLOCK INC. - SQ2 Elliott Wave Technical Analysis TradingLounge (4-Hour Chart).
ASX: Block Inc. - SQ2 Elliott Wave technical analysis
ASX: BLOCK INC. - SQ2 4-Hour Chart Analysis.
Function: Major trend (Minute degree, green).
Mode: Motive.
Structure: Impulse.
Position: Wave i-blue.
Details: The further short-term outlook suggests that wave 2-red has completed in the form of a Double Zigzag, and wave 3-red is returning to push higher. Currently, it is subdividing into wave i-blue, and this wave i appears to be nearing completion, allowing wave ii-blue to unfold lower. Subsequently, wave iii-blue will likely return to push significantly higher. We will continue to monitor SQ2 closely and look for trade setups when wave ii unfolds.
Invalidation point: 103.84.
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: BLOCK INC. - SQ2 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).
ASX: Block Inc. - SQ2 Elliott Wave technical analysis [Video]
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