KOSPI Composite Elliott Wave Analysis – Trading Lounge Day ChartKOSPI Composite Elliott Wave Technical AnalysisFunction: Trend
Mode: Impulsive
Structure: Orange wave 3
Position: Navy blue wave 1
Next Lower Degrees Direction: Orange wave 4
Invalidation Level: 2381.93The KOSPI Composite Elliott Wave analysis on the daily chart suggests a developing trend in an impulsive mode. The wave structure currently identified is orange wave 3, indicating that the market is in the early stages of a strong upward movement typical of a third wave in a five-wave sequence. This is positioned as navy blue wave 1.Key Observations:
If the price falls below 2381.93, the current wave structure would be invalidated, indicating that the expected bullish movement might not unfold as anticipated.Summary:The KOSPI Composite daily chart highlights a strong upward trend driven by orange wave 3 after the completion of the corrective orange wave 2. As long as the price stays above 2381.93, the Elliott Wave structure remains valid. A corrective phase in wave 4 is expected once wave 3 concludes, followed by a continuation of the bullish trend in wave 5.(Click on image to enlarge) KOSPI Composite Elliott Wave Analysis – Trading Lounge Weekly ChartKOSPI Composite Elliott Wave Technical AnalysisFunction: Trend
Mode: Impulsive
Structure: Orange wave 3
Position: Navy blue wave 1
Next Lower Degrees Direction: Orange wave 4
Invalidation Level: 2381.93The KOSPI Composite Elliott Wave analysis on the weekly chart reveals that the market is in a strong upward trend, following an impulsive wave structure. The current wave is labeled as orange wave 3, indicating a bullish phase within the broader impulsive pattern. This wave is positioned in navy blue wave 1, meaning the trend is still in its early stages.Key Observations:
The wave structure remains valid as long as the price stays above the invalidation level of 2381.93. If the price drops below this level, it would invalidate the current Elliott Wave count and indicate a potential change in market direction.Summary:The KOSPI Composite Weekly Chart shows that the market is continuing its upward trend, with orange wave 3 active after the completion of the corrective orange wave 2. As long as the price remains above 2381.93, the bullish outlook is maintained, though a brief correction in orange wave 4 is expected once wave 3 concludes, followed by further upward movement in wave 5.(Click on image to enlarge)More By This Author:
