V300AEQ ETF Units Elliott Wave technical forecast [Video]

Peter Mathers TradingLounge

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: VAS Elliott Wave technical analysis

Function: Major trend (Minor degree, grey).

Mode: Motive.

Structure: Impulse.

Position: Wave (y)-orange of Wave ((ii))-navy of Wave 3-grey.

Details: The short-term outlook indicates that wave 2-grey has completed and wave 3-grey is unfolding. It is subdividing into wave ((i))-navy, which has completed a five-wave pattern and has peaked. Now, wave ((ii))-navy is unfolding to push lower, developing as a Double Zigzag. Once wave ((ii))-navy completes, we will have a long trade setup to buy into wave ((iii))-navy of wave 3-grey.

Invalidation point: 92.93.

ASX: VAS four-hour chart analysis

Function: Major trend (Minute degree, navy).

Mode: Motive.

Structure: Impulse.

Position: Wave (y)-orange of Wave ((ii))-green.

Details: The shorter-term outlook shows that wave ((i))-navy has ended after subdividing into five waves, and wave ((ii))-navy is unfolding to push lower. It is developing as a Double Zigzag labeled (w),(x),(y)-orange. It will continue to move down to find support at 95.01 - 93.62. Once it completes, we will have a good long trade setup targeting wave ((iii))-navy.

Invalidation point: 92.93.

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]

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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