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 see wave 2-grey pushing a little lower, then wave 3-grey may come back later to push higher. I will be watching and looking for a Long Trade Setup.
ASX: VAS Elliott Wave technical analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((C))-navy of Wave 2-grey.
Details: Wave count is changed to increase probability. Wave 2-grey opened as an Expanded Flat, wave ((b))-navy completed at the high of 100.88. Wave ((c))-navy is pushing lower, may find support around 92.93, then wave 3-grey may return to move higher.
Invalidation point: 83.45
ASX: VAS four-hour chart analysis
Function: Counter trend (Minute degree, navy).
Mode: Corrective.
Structure: Flat.
Position: Wave ((c))-navy.
Details: Wave 2-grey opens as Expanded Flat, wave ((c))-navy is pushing lower, maybe it approaches the low area at 92.93, then I will look for evidence when the Flat wave ends, and I will look for a Long Trade Setup after that.
Invalidation point: 100.88.
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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]
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