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Grabbed in this dip!

Matic's chart looks more promising than FTM!

Grabbed a little bag here ....

Io.net is a groundbreaking decentralized network that's changing the face of AI and machine learning by pooling together GPUs from various sources. Since its launch in November, it has made tremendous progress, with over 25,000 GPUs and 40,000 compute hours under its belt. By leveraging its dual token system and Solana blockchain technology, the project ensures transparency, rewards participation, and has already achieved a remarkable $1 billion valuation. By democratizing access to GPU computing, it offers a cost-effective, decentralized solution for AI and ML projects, slashing cloud costs by up to 90%. As io.net continues to push boundaries, it will be fascinating to see how it reshapes the AI and ML landscape and unlocks new innovative solutions through its decentralized approach.

Following the launch of Notcoin on the New Year's Day, the telegraph gaming project gained significant and widespread adoption attracting over 4.1 million players in the first week of its official release and skyrocketed to over 25 million by the end of February. With over 35 million players currently, NOT has become almost a household name as the token continues to generate traction. The trend on X over the last few weeks have intrigued a lot of people myself inclusive with many now following the project to see the outcome. The shocker came yesterday when Binance announced the listing of NOT on their platform accompanied with a launchpool. This further fuels excitement that NOT could be a big project and airdrop farmers are already over the moon following this announcement. Considering the 3% of the total supply allocated for the launchpool, the listing price of the token has sparked debate with many forecasting that the price could mirror that of DOGE. While NOT is a memecoin on the TON blockchain, it remains unknown if these token will displace top memecoin like TONFish and TON Inu on the same blockchain. With other top CEX like Bitget, OKX and Bybit listing the token on the same day, excitement is ramping up and in light of this, a lot of users are seeking avenue to hold the token before the official listing. Fortunately Bitget has announced that NOT is now available on their platform and traders can pre-trade this token ahead of its official listing on 16th. Do you think that NOT will be another top project to watch out for or another hype?

Over recent decades, cryptocurrency has undergone significant evolution, finding acceptance across various sectors. One sector notably impacted by crypto is the sports industry, particularly soccer, where many football clubs now embrace fan tokens offering diverse benefits. These tokens grant supporters exclusive perks such as access to player interactions, voting rights in club decisions, VIP seating during matches, and more. During the last World Cup, fan tokens, exemplified by ARG (Argentina fan token), experienced remarkable surges in the crypto space. Major clubs like PSG, Barcelona, Manchester City, and Chelsea have also joined the trend, launching their own fan tokens. The pinnacle of soccer and crypto integration was reached when Bitget announced Lionel Messi as its club ambassador. This move marked a turning point for many in the sports arena, highlighting the potential for crypto to revolutionize the industry. To enhance users' crypto experience, Bitget frequently organize events such as Crypto Soccer 2024, where $150,000 USDT is allocated for distribution among participants. As the collaboration between crypto and soccer continues to evolve, driven by innovative players like Bitget, it's foreseeable that we may witness a complete departure from conventional practices within the sports industry. What are your thoughts on this transformative journey?

FTSE 100 joined by DAX 40 in setting new record high while S&P 500 also rallies Outlook on FTSE 100, DAX and S&P 500 as UK exits recession. Source: Getty Images Written by: Axel Rudolph FSTA | Senior Financial Analyst, London Publication date: Friday 10 May 2024 13:30 FTSE 100 has so far seen six straight days of record highs The FTSE 100 has so far seen six straight days of gains with each making a new record high and may see a seventh on Friday as the UK exits its 2023 recession with better-than-expected 0.6% quarter-over-quarter GDP growth. The psychological 8,500 mark represents the next upside target while the April-to-May uptrend line at 8,362 underpins. Source: ProRealTime DAX 40 trades in new record highs The DAX 40 has so far seen six consecutive days of gains which have taken it to a new record high on Friday morning with the 19,000 region being targeted. Minor support can be spotted at the previous record high, made in April at 18,636. Source: ProRealTime S&P 500 trades in one-month highs The S&P 500’s 4% rally from its early May low has taken it above the 5,200 mark, close to the 10 April high at 5,234. Above it lies the April record high at 5,274. Potential slips may encounter support at the 5,200 mark, hit on Tuesday, and at Wednesday’s 5,164 low. Source: ProRealTime

Gold price, WTI crude price and natural gas price enjoy strong gains Commodity prices have made solid headway over the past week, and are in strong form as the final session of the week gets underway. Source: Getty Images Written by: Chris Beauchamp | Chief Market Analyst, London Publication date: Friday 10 May 2024 13:16 Gold storms through $2300 The price lurched higher on Thursday, providing further evidence that a bottoming process is in place. It has taken around three weeks, but the pullback from the mid-April highs appears to have been halted around $2295, with buyers having stepped in last week around $2280. Thursday’s gains put the price back on an upward footing and suggest another test of the $2400 highs. Source: ProRealTime WTI heading higher After Wednesday’s big recovery off the lows and back above the 100-day simple moving average (SMA), Thursday saw further gains that once again provide hope that a low is in place. Further gains above the 200-day SMA and $80 would reinforce this view, and open the way to trendline resistance from the April highs. This stalled the gains of late April, and led to a fresh leg lower, so a close above trendline resistance would be a positive development. A reversal back below $77 would be needed to hint that the current rally is at an end. Source: ProRealTime Natural Gas keeps on rallying Natural gas’ huge gains continue, as the price breezes through 2300 and heads on towards the 200-day SMA. The downtrend of November – March seems to have come to an end. Even a drop back to 2100 would leave rising trendline support from late March intact. Source: ProRealTime

FTM's Price Stalled at Support: The recent price decline for Fantom (FTM) has found temporary solace near the $0.65 demand zone. This provides a potential springboard for a reversal, but challenges remain. Technical Indicators Offer Mixed Signals: The weekly chart shows FTM trading below the crucial 23.60% Fibonacci retracement level, a hurdle that needs to be overcome for a sustained uptrend. However, a double bottom reversal pattern on the daily chart hints at a potential bullish turnaround. Market Rebound Offers Hope: The broader cryptocurrency market's recent recovery has boosted trading volume for altcoins like FTM. This positive sentiment could provide the impetus for FTM to break above the $1 psychological barrier. Can FTM Reach $1 This Month?: The answer hinges on FTM's ability to quickly reverse its downtrend. Here's the breakdown: Upside Potential: If the uptrend surpasses the 23.60% Fibonacci level at $0.90, FTM could reclaim the $1 mark. Optimistic Target: In a bullish scenario, the price could potentially reach $1.73, or the 50% Fibonacci level. Obstacles: FTM needs to overcome resistance at the 23.60% Fibonacci level and the $1 psychological barrier. Overall, FTM's price action suggests a potential turning point. However, overcoming resistance levels and broader market conditions will determine whether it can reach $1 in May. https://coinpedia.org/price-analysis/ftm-price-needs-quick-reversal-to-hit-1-this-may/

The following five shares could be the best telecoms shares to watch in 2024. These are some of the largest stocks in the sector by market capitalisation. Source: Bloomberg Shares Telecommunications 5G Internet United States Comcast Written by: Charles Archer | Financial Writer, London Telecommunications companies design, manufacture, and deliver the technology required to digitally interconnect the world. They offer phone, internet, and television services, and also build and maintain the infrastructure needed to support them. Telecoms explained The sector has become increasingly attractive in 2023 to dividend investors, and also to those seeking safer harbours. Telecoms is widely regarded as a defensive sector as customer demand remains stable through recessionary periods — and it is becoming harder to predict whether the long-anticipated global recession will come to pass. On the other hand, even the largest telecoms companies are still growing and innovating. As part of the tech sector, disruptions including 5G, AI, the Internet of Things, cloud computing, cybersecurity, and blockchains are all growth areas that could see the best telecoms stocks continue to grow. Indeed, Meucci devised the first phone in 1849, while Bell won the first US patent in 1876. It took until 1991 for Berners-Lee to develop the World Wide Web, and today half of the world carries a smartphone containing the sum of all human knowledge in their pocket, able to contact anybody in the world at a second’s notice. But the growth isn’t over. The global telecom market rose from $2,642 billion in 2021 to $2,880 billion in 2022, at a CAGR of 9%. And telecoms are forecasted to reach $3,629 billion by 2026 — making the best telecoms stocks perhaps worthy of portfolio consideration. Best telecoms stocks to watch The following five shares are some of the largest in the world by market capitalisation. China Mobile T-Mobile US Verizon Comcast AT&T China Mobile China Mobile enjoys the largest mobile network in the world when judged by total subscriber numbers — some 991 million customers at the end of 2023. And this figure has been growing for years. It also saw 5G subscribers increase by a net 138 million to 465 million last year, driving 2023’s revenue up by 6.3% year-over-0year to CNY863.5 billion and net profit up 5% year-over-year to CNY131.7 billion. The company noted that it had ‘accumulatively brought into use more than 1.94 million 5G base stations. We planned for the deployment of the world’s largest RedCap commercial network and built the world’s first 5G new voice network.’ For context, capex stood at CNY180.3 billion for 2023, more than a fifth of total revenue. It’s worth noting that the Chinese government owns a large majority stake in the company, but it does offer services across 200 countries all over the world. Beyond just voice calls, it supplies broadband, data, cloud computing, and more recently Internet of Things tech. Market Capitalisation: $195 billion T-Mobile US T-Mobile US is one of the largest carriers in the United States, with over 120 million subscribers at the end of April 2024. The company is majority owned by German multinational Deutsche Telekom AG and operates under its own brand as well as MetroPCS and GoSmart. The telecoms business has a unique reputation in the market as an ‘un-carrier,’ based on a longstanding marketing campaign based on streamlined plans for customers which got rid of contracts, subsidised phones, coverage fees and early termination charges. In Q1 results, the company saw net income grow by 22% year-over-year to $2.4 billion, which it highlighted as the ‘best in industry growth.’ Service revenues were up by 4% to $16.1 billion, while postpaid services revenue also grew, by 6% to $12.6 billion. Market Capitalisation: $190 billion Verizon Verizon is another one of the so-called ‘big three’ wireless carriers in the United States, with over 143 million subscribers. The company offers significant network coverage, with its 4G LTE network reaching more than 99% of the United States population. The business also offers fibre optic internet and fixed line services in addition to 5G technology. In 2023 full-year results, Verizon reported strong cash flow, with wireless service revenue up by 3.2% year-over-year to $76.7 billion, while fixed wireless net additions rose by some 31%, ‘reflecting the increased demand driven by the strength and reliability of the product.’ Further, wireless postpaid net additions jumped by 23%, while consumer postpaid phone gross additions in Q4 alone rose by nearly 17% year-over-year, making the quarter the best performer in four years. Chairman and CEO Hans Vestberg noted that ‘after delivering continuous improvement throughout 2023, we ended the year strong and continue to pursue the right balance of growth and profitability. 2023 was a year of change. We have the right assets and the best team in place and are well-positioned for growth in 2024.’ Market Capitalisation: $165 billion Comcast Comcast is the largest domestic internet service and pay-TV provider in the US, with the majority of its revenue derived from its cable communications sector. The S&P 500 company brings in hundreds of thousands of new internet subscribers every year, which typically sign up on high margin agreements. While there is increasing competition from wireless carriers, Comcast’s overwhelmingly dominant market share means it can continue to invest for the future. The company also owns NBC Universal, which has a substantial footprint in the US, and Sky, which is hugely influential across Europe. Comcast paid a whopping $39 billion for Sky after a bidding war in 2018, but the businesses are complementary and have helped its long-term performance. In Q1 results, Chairman and CEO Brian L. Roberts reported that ‘we delivered double-digit growth in Adjusted EPS and free cash flow while returning $3.6 billion to shareholders, investing aggressively in our businesses, and maintaining our strong balance sheet. We grew broadband ARPU over 4%, delivered 7% revenue growth in our connectivity businesses, and expanded our Adjusted EBITDA margin across Connectivity & Platforms.’ Market Capitalisation: $151 billion AT&T AT&T is arguably the largest wireless carrier in the US, and is also a dominant force in global telecommunications. Like others on this list, it not only provides mobile phone services, but also landlines, internet access, satellite television and business solutions. At present, the emphasis appears to be squarely on 5G and fibre optic delivery. The business claims to have the most reliable networks for these advanced services in the United States. In Q1 results, revenue came in at some $30 billion, while free cash flow was $3.1 billion, up by 2.1 billion year-over-year. CEO John Stankey enthused that the ‘results this quarter reflect continued strong growth in our Mobility and Consumer Wireline connectivity businesses, which represent about 80% of our total revenues. Customers are choosing AT&T and staying with us. We achieved a record-low first-quarter postpaid phone churn, grew consumer broadband subscribers for the third consecutive quarter, and expanded margins in Mobility and Consumer Wireline.’ Market Capitalisation: $122 billion This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

@philipellis, It has nothing to do with your account. Please note that it can happen anytime. It can come back to a state that is adjustable by yourself. Thanks, KoketsoIG

$HNT Eyes $10 But Beware of Turbulence! ️ Helium (HNT) is up 10% in 48 hours, potentially breaking its downtrend! A successful breakout could send HNT to $10, but watch out for resistance at $6 and $8. Key Points: Bullish reversal challenges resistance trendline. Breakout could lead to $10, but beware of potential setbacks. Market-wide turnaround fuels optimism. https://coinpedia.org/price-analysis/is-hnt-price-crossing-10-milestone-this-may/

HI @KoketsoIG Thanks for your response. I've never had the message before and then in quick succession I had it twice.. It seems that it was pure coincidence that this happened and is nothing to do with my account. Could you confirm that, please? Is this more likely to happen in a morning when the markets open? This still leaves me with the concern that I can't manage my bet whilst it is active and could be at financial risk as a result. Is it the case that once an order has been referred to dealers it stays there, or can it come back to a state where it is adjustable by me? Philip

Hi @philipellis, Thank you for the post. Please note that sometimes orders need to be worked in the underlying market due to liquidity. Adjusting a stop or limit would produce an error which would require you to call so a dealer can manually adjust your stop/limit. Thanks, KoketsoIG

$RUNE Bulls on the Charge! Double bottom breakout & momentum surge suggest #Thorchain is ready to rumble! $10.59 in sight? Maybe, but watch out for resistance at $7.67 first. ⚠️ https://coinpedia.org/price-analysis/end-of-correction-jump-in-rune-price-eyes-60-upside/

Hi @AlfieMico, No worries, unfortunately, we cannot say as we have not received any update on the pop-up update yet. We will be sure to update this thread when we do. Thanks, KoketsoIG

Hi I had a spread bet on this morning and was adjusting the Stop value (which I've never had a problem with before) when I received the message in the attached file. It was quite alarming as I was adjusting my exposure to a lower value. I was concerned that the new value had not become effective, and I would be at a higher risk, so I closed the bet off. I thought it was a glitch, but it did it again with my next bet. I called the IG helpdesk but it wasn't clear to me what the agent was saying, apart from something to do with referring the bet to some internal IG team and hedging their position. She suggested that I could call during a live bet to speak to them about the bet but my concern with that is that I could have been stopped out before resolving the matter. Given this happened on two successive bets, I was concerned it was something to do with my account, but the agent says that's not the case. I'm now awaiting an explanatory email but thought I'd also ask the community. Can anyone explain this to me in simple terms? Thanks.

Silver Elliott Wave Analysis Function -Trend Mode - Trend Structure - Impulse for (A) Position - Wave 5 of (A) Direction - Wave 5 of (A) in play Details -Price is completing an impulse breakout from the diagonal that completed wave 4. This is expected to be the 1st sub-wave - blue wave i (circled) of 5 of (A). Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here https://tradinglounge.com/341 7 Analysts Over 170 Markets Covered Bitcoin Prediction Guess the Price? Test Your Analysis - Win 1 Million Satoshi https://tradinglounge.com/Bitcoin-Prediction Silver‘s road to recovery is more than halfway complete. Following the retreat starting on April 12th, lasting nearly three weeks, the commodity now stands poised to rekindle the bullish momentum that has defined much of the year. Anticipation mounts as it gears up to test the highs of 2013 once again. In the broader scope, Silver has been a beacon for buyers since its nadir in March 2020, bottoming out at 11.645. It's rational to expect this rally to culminate in at least a corrective upswing, likely adopting a zigzag or double zigzag structure. Examination of the daily chart reveals the emergence of a double zigzag pattern, unfolding within the third leg of the supercycle degree - wave (y). Forecasts suggest wave (y) could stretch to the 100% projection of wave (w) from (x), signaling a potential surge to 35.78. This indicates Silver might still notch another 25% gain from its current position, albeit over another six months or more. Alternatively, some interpretations may view the bullish ascent from the March 2020 low of 11.645 as an impulse wave, paving the way for targets surpassing 42.75 and aiming for 47. Whichever scenario unfolds, Silver appears primed for further upswings in the forthcoming months. Zooming into the H4 chart, the impulse wave sequence originating in January 2024 has completed its fourth wave - wave (4) - manifesting as a zigzag structure. Momentum now steers towards the higher realms with wave (5) of primary degree wave A (circled in blue). The potential for an upward surge looms large. As long as the 26.022 low remains intact, this commodity will likely allure buyers in the following weeks and months. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

Hi @CharlieB, Apologies for the inconvinience. Please note that we have raised a ticket with the technical team to resolve this. All the best, KoketsoIG

thanks for your update. Can I ask why it’s taking so long? Just feels a little bit worrying as I imagine you have a legal team that could have quickly tailored the documents and it doesn’t feel reassuring that it’s taken so long to update the agreements to reflect this new situation.

Hi On the desktop platform, my client sentiment "widget" has been showing "no trading activity" for days now . (I note it is working fine on my phone app) Is it a local issue for me or the same for everyone? In either case - what is the fix? Thanks

Asian markets rose on Friday, extending gains for the third straight week, while the US dollar was steady as signs of easing in the US labour market raised expectations of interest rate cuts by the Federal Reserve this year. MSCI's Asia-Pacific index outside Japan rose 0.66%, while Japan's Nikkei added 0.37%. China stocks dipped on geopolitical concerns over a new US trade restriction list. The pound was steady around $1.2515 after the Bank of England opened the door for potential rate cuts as early as next month. US jobless claims rose more than expected last week, adding to signs of labour market softening after slower job growth and easing wage pressures in April data. Oil prices rose, with US crude up 0.68% to $79.80 per barrel and Brent crude up 0.6% to $84.38.

META Elliott Wave Analysis Trading Lounge Daily Chart Meta Platforms Inc., (META) Daily Chart META Elliott Wave Technical Analysis FUNCTION: CounterTrend MODE: Corrective STRUCTURE: Flat POSITION: Intermediate (A) DIRECTION: Pullback in Minor B DETAILS: We are showing two different counts in the Daily and 4H chart. Here we have a major top in place and we are looking for a larger correction to take place, looking for 500$ to provide resistance. Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here https://tradinglounge.com/341 7 Analysts Over 170 Markets Covered Bitcoin Prediction Guess the Price? Test Your Analysis - Win 1 Million Satoshi https://tradinglounge.com/Bitcoin-Prediction META Elliott Wave Analysis Trading Lounge 4Hr Chart, Meta Platforms Inc., (META) 4Hr Chart META Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Flat POSITION: Wave B or (4). DIRECTION: Topping in wave B. DETAILS: Here we are looking at a smaller correction, we have measured wave (2) and equality of (4) and (2) stop at 450$. Looking for sideways consolidation in (4) or else we could already have a bottom in place. The Elliott Wave analysis for Meta Platforms Inc. (META) reveals a discrepancy between the daily and 4-hour chart interpretations as of May 10, 2024. Each chart provides a different perspective on the expected stock movements, catering to different trading strategies. * META Elliott Wave Technical Analysis – Daily Chart* On the daily chart, META is categorized under a counter trend with a corrective flat structure, currently in the Intermediate wave (A) phase. The focus is on a significant pullback in the Minor B wave, suggesting a broader market correction. The analysis indicates a major top already in place, with a downward trajectory expected to continue. A resistance level at $500 is anticipated, which might cap any potential upside and confirm the bearish outlook. * META Elliott Wave Technical Analysis – 4Hr Chart* The 4-hour chart presents a more micro view, still within a counter trend but focusing on the smaller corrections within the overall structure. It is in the phase of Wave B or possibly in Wave (4), with a current top formation in Wave B. The equality between Wave (2) and Wave (4) is calculated to halt at $450, suggesting a shorter corrective phase than what is noted on the daily chart. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!

AUDUSD Elliott Wave Analysis Trading Lounge Day Chart, Australian Dollar/U.S.Dollar (AUDUSD) Day Chart AUDUSD Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE: red wave 3 POSITION: blue wave 1 DIRECTION NEXT LOWER DEGREES: red wave 4 DETAILS: red wave looking 2 completed, now red wave 3 of 1 is in play .Wave Cancel invalid level: 0.64655 The daily chart for the Australian Dollar versus the U.S. Dollar (AUD/USD) is indicating a broader trend following the Elliott Wave pattern. This type of analysis identifies the wave structure of a market and categorizes it into impulsive and corrective modes. An impulsive trend suggests strong directional movement with more substantial momentum. ### Function The function is defined as "Trend," indicating that the chart follows a broader directional pattern. This suggests the market has strong momentum, with prices likely moving consistently in one direction over time. ### Mode The mode of the structure is "impulsive," a key feature of Elliott Wave theory, typically indicating the market is progressing with force and momentum. Impulsive waves are generally part of a larger trend pattern that includes five distinct waves, with the third wave often being the most robust. ### Structure The structure described is "red wave 3," indicating that the market is in the midst of a strong, directional move. This wave typically signifies a powerful phase in a broader impulsive pattern, usually associated with significant price shifts. ### Position The position on the chart is "blue wave 1," suggesting that the first wave of the larger pattern has begun, indicating a new phase of trend movement. ### Direction for Next Lower Degrees The next lower degrees indicate "red wave 4," suggesting that once the current impulsive wave completes, a corrective phase could occur before resuming the broader trend. This correction typically involves some consolidation or retracement before the next wave begins. ### Details The details section highlights that "red wave 2" has completed, suggesting that a period of consolidation or correction has concluded, and now "red wave 3" of "blue wave 1" is in play. The wave cancellation or invalidation level is set at 0.64655, which acts as a critical threshold. If prices move below this level, it could invalidate the current wave structure, potentially indicating a change in the broader trend. In summary, the daily chart for AUD/USD follows an impulsive Elliott Wave structure in a trending market. The current phase is "red wave 3," suggesting robust momentum. The completion of "red wave 2" and the ongoing "red wave 3" indicate strong directional movement. The wave cancellation level at 0.64655 is crucial, as it represents a point where the current pattern could be invalidated if breached, signaling a potential trend change or corrective phase. Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here https://tradinglounge.com/341 7 Analysts Over 170 Markets Covered Bitcoin Prediction Guess the Price? Test Your Analysis - Win 1 Million Satoshi https://tradinglounge.com/Bitcoin-Prediction AUDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, Australian Dollar/U.S.Dollar (AUDUSD) 4 Hour Chart AUDUSD Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE: black wave 3 POSITION: red wave 3 DIRECTION NEXT LOWER DEGREES: black wave 4 DETAILS: black wave looking 2 completed at 0.65578, now black wave 3 of 3 is in play .Wave Cancel invalid level: 0.64655 The 4-hour chart of AUD/USD is currently indicating an impulsive trend according to Elliott Wave analysis. This suggests that the Australian Dollar against the U.S. Dollar is experiencing strong directional movement, usually indicative of significant momentum in one direction. ### Function The function of the current wave structure is "Trend," implying that the overall direction of the market is aligned with a broader trend, typically leading to consistent price movement in one direction over time. ### Mode The mode is "impulsive," reflecting a pattern of strong, direct movements with fewer corrections. Impulsive waves are often the driving force behind a major trend and usually consist of five waves (1, 2, 3, 4, and 5). ### Structure The structure is "black wave 3," indicating that the market is in the third wave of a larger trend pattern. This wave is generally the most robust and decisive, often associated with significant price changes and heightened market activity. ### Position The position is "red wave 3," suggesting that within the larger wave structure, the market is in the third sub-wave, which typically signifies strong directional movement and represents a significant phase of the broader trend. ### Direction for Next Lower Degrees The direction for the next lower degrees is "black wave 4," indicating that after the current wave completes, a corrective phase may occur before resuming the larger trend. This phase often sees some retracement or consolidation in the market. ### Details The details section notes that "black wave 2" seems to have completed at 0.65578, suggesting that the corrective phase has concluded or is nearing completion. Currently, "black wave 3 of 3" is in play, indicating strong directional movement in the trend. The wave cancellation or invalidation level is set at 0.64655, marking a critical threshold where, if breached, the current wave pattern could be invalidated, potentially requiring a reassessment of the analysis. In summary, the 4-hour chart for AUD/USD shows an impulsive trend with "black wave 3" in progress, signaling a strong market direction. The completion of "black wave 2" and the ongoing "black wave 3 of 3" suggest robust price movement. The wave cancellation level at 0.64655 is a key point to monitor, as breaching this level could necessitate a reevaluation of the current wave structure. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

For some reason IG frequently stops updating the price graphics on the desktop browser platform. Why is it? Does this happen in the real money account too? in the image you can see 3 min charts from IG (white) and Tradingview (black)