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]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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