Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We see VAS could start pushing higher with a 3-grey wave.
ASX: VAS Elliott Wave technical analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((i))-navy of Wave 3-grey.
Details: Wave 3-grey is unfolding to push higher, it is subdividing into wave ((i))-navy, basically it may push up a bit later, and may end soon, then wave ((ii))-navy will push lower.
Invalidation point: 94.13.
VAS one-day chart analysis
ASX: VAS Elliott Wave technical analysis
Function: Major trend (Minute degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave (iii)-orange of Wave ((i))-navy.
Details: Since the low at 94.13, the ((i))-navy wave is unfolding, basically it is subdividing into (i),(ii),(iii),(iv),(v)-orange waves, it can continue to push a little higher to complete the role of the ((i))-navy wave. Then the ((ii))-navy wave will unfold to push lower, and finally, the uptrend will return and the ((iii))-navy wave will continue to push higher. I will be looking for a Long Trade Setup with the ((ii))-navy wave.
Invalidation point: 94.13.
VAS four-hour chart analysis
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.
VAS Elliott Wave technical forecast [Video]
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