Tasi index wave technical examination
Function: Counter trend.
Mode: Correction.
Structure: Orange Wave 2.
Position: Navy Blue Wave 1.
Directions Next higher degree: Orange Wave 3.
Details: Orange Wave 1 seems to have completed; Orange Wave 2 is now active.
Wave cancel the invalid level: 10657.
The assessment of the daily tasi chart shows a counter-trend correction that forms within a broader bullish structure. The index ended the orange wave 1 advance and started the orange wave 2 correction within the larger Navy Blue Wave 1 Uptrend. This setup indicates a temporary descending transition before a potential return to the main upward trend.
Orange Wave 2 marked the corrective phase, generally re -reefing between 38% to 61% of Wave 1's acquisitions. It often generates common correction structures such as zigzags or flats. The end of the strong upward move to Wave 1 sets the stage for this pullback, usually marked with overlay price action and reduced momentum. The day -to -day chart suggests that this correction can be an intermediate pause within a larger bullish pattern.
The next likely move is the Orange Wave 3 which moved upward after the orange wave 2 correction. Wave 3 is usually the strongest stage, which potentially drives properly despite the peak of wave 1. Entrepreneurs should carefully watch the level of 10657, as a rest below the current interpretation of the wave.
Market participants should monitor the development of Wave 2 for classic end-of-correction signals, such as bullish candlestick reversals or momentum indicators reaching oversold levels. This correction offers strategic opportunities to prepare for the next wave 3. The use of technical analysis will be important to confirm when Wave 2 begins and Wave 3 begins.
This corrective phase is a normal and healthy integration -with the larger raid, providing the opportunity for entrepreneurs to position in advance for a possible upcoming continuation. Observing price action, especially around Fibonacci's major retracement levels, will be important for timing entries as the market moves from wave 2 to wave 3. The sun -day -time hours have highlights how critical this development is within the broader views of the bullish.
Tasi index wave technical examination
Function: Bullish trend.
Mode: Purifying.
Structure: Navy Blue Wave 1.
Position: Gray Wave 3.
Direction next lower degree: Navy Blue Wave 2.
Details: Gray Wave 2 appears to be completed; Navy Blue Wave 1 of 3 today playing.
Wave cancel the invalid level: 10657.
The Tasi Index Weekly Chart Analysis shows a bullish trend forming through an impulsive Elliott wave structure. The index completed the Gray Wave 2 correction and entered the Navy Blue Wave 1 within a larger color -out wave 3. This setup indicates the early stages of what could be a strong upward move in the coming weeks, with the Navy Blue Wave 1 setting the foundation of the trend.
The Navy Blue Wave 1 marked the start of the new phase of impulse, which usually shows a steady increase in price as the market builds the strength of the direction. The end of Gray Wave 2 has created the desirable conditions for this new move, which often begins a little bit but gets momentum in time. The weekly chart suggests the beginning of a new intermediate-term upward trend.
The structure indicates that the tasi index is moving to a potential color -open wave 3, with Navy Blue Wave 1 representing the initial move. This setup usually leads to stronger trending behavior as the market builds a bullish momentum. Entrepreneurs should guard for early 1 waves signs, such as improving technical indicators and increasing trading volume.
After completing the Navy Blue Wave 1, the index is expected to correct Navy Blue Wave 2 before continuing higher. The weekly view emphasizes the importance of this emerging pattern, highlighting the importance of monitoring price action and indicators to confirm wave development. The analysis points to a possible strong developmental development, which is desirable for trend compliance techniques.
A basic level to monitor is 10657. If the index drops under this point, the current Bullish outlook will need a re -evaluation. Entrepreneurs should prepare for potential bullish setups after the expected wave 2 correction, note that wave 3 usually delivers a stronger price movement.
Tasi index elliott wave technical analysis [Video]
