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This analysis provides insights into the Elliott Wave patterns observed in major NASDAQ stocks, including the NASDAQ 100, S&P 500, and key companies like Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), and Alphabet (GOOGL). Currently, we assess that the Wave (4) low may have been established across these indices, signaling a potential shift to a "Risk On" stance. This scenario suggests that building long positions in most technology stocks could be increasingly viable. However, the inherent risk lies in the possibility that Wave (4) may not yet be fully in place. As a precaution, we continue to manage existing risks carefully. Should the market conditions confirm the placement of Wave (4), we will be better positioned to safely escalate our long trading positions in anticipation of the next upward movement. Video Chapters 00:00 NASDAQ 100 (NDX) SP500 (SPX) 01:43 Apple (AAPL) 03:26 Amazon (AMZN) 04:18 NVIDIA (NVDA) 05:13 Meta Platforms (META) 05:54 Netflix (NFLX) 06:31 Alphabet (GOOGL) 07:20 Microsoft MSFT 08:00 Tesla (TSLA) 09:20 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com

WTI Elliott wave analysis Function - Counter-trend Mode - Corrective Structure - Triple Zigzag Position - Wave X of triple zigzag Direction - Wave X of the triple zigzag is still in play Details - We still count a double zigzag for wave X. Current rally should stay below 85.64 to confirm (b) before turning down for (c) around 79.23-76.90. Invalidation below 75.49 will make us consider an impulse from 87.63 instead. Overall, WTI still supports the medium-term bullish triple zigzag sequence provided 75.49 is not breached. Not changed from the last update. WTI crude oil prices are currently undergoing a retracement of the pullback initiated on April 12th. This pullback, in conjunction with the ongoing recovery, appears to be corrective rather than indicative of a substantial reversal. Looking ahead, there's a likelihood of witnessing another upward movement surpassing the high set on April 12th in the upcoming weeks. However, it's crucial to note that the bullish corrective sequence, initiated in December 2023, remains intact, awaiting a definitive break, potentially signaled by an impulse wave downward. Analyzing the long-term perspective, particularly on the daily chart, reveals a corrective price structure evolving from the high of 120.91 in March 2022. This corrective phase retraces the preceding impulse wave, which spanned from the tumultuous period of April 2020 to its culmination in March 2022 at 130.91. This corrective pattern is unfolding into a double zigzag formation, with the current phase representing the final leg, denoted as wave Y of primary degree. Considering the intermediate degree wave (B) from 67.81, it's imperative that the price does not breach 95 before initiating a downturn for the corresponding wave (C). Despite the potential completion of wave (B) at 87.63 with a double zigzag pattern, the subsequent decline appears corrective in nature, leaving room for the possibility of another upward rally, perhaps forming a triple zigzag wave (B). However, a decisive downward break from 87.63 would indicate the commencement of wave (C) with an impulse or leading diagonal pattern. Zooming in on the H4 chart, a double zigzag formation is taking shape from 87.63, expected to conclude within the range of 79.23 to 76.90 before the price reverses direction for wave Z of (B). This constitutes the first scenario. Alternatively, if wave (b) extends higher and surpasses 87.63, it would signify the completion of wave X, with wave Z poised to ascend further. The third scenario comes into play if the decline extends beyond 75.48, potentially signaling the completion of wave (B) at 87.63 and indicating a bearish outlook for wave (C). Monitoring these scenarios on the H4 charts will provide valuable insights into the unfolding price dynamics, guiding potential trading strategies in the volatile WTI crude oil market. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

MSFT Elliott Wave Analysis Trading Lounge Daily Chart Microsoft Inc., (MSFT) Daily Chart MSFT Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Zigzag POSITION: Intermediate (2) DIRECTION: Bottom in wave A of (2). DETAILS: We are considering a significant top in place with wave (1), and we are now looking for a three wave move correction into wave (2). We seem to be finding buyers on Medium Levell 400$, looking for 400$ to turn into resistance. MSFT Elliott Wave Analysis Trading Lounge 4Hr Chart Microsoft Inc., (MSFT) 4Hr Chart MSFT Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Zigzag POSITION: Wave A. DIRECTION: Bottom in wave {v}. DETAILS: I can count a clear five wave move into wave A, with alternation between {ii} and {iv}. Looking for a pullback in wave B to then fall back lower. In this comprehensive Elliott Wave analysis for Microsoft Corporation (MSFT), we provide an in-depth review of the stock’s potential movements based on its current wave patterns, as observed in both the daily and 4-hour charts on April 26, 2024. This analysis aims to assist traders and investors in understanding the underlying market dynamics and planning their strategies accordingly. * MSFT Elliott Wave Technical Analysis – Daily Chart* The daily chart of MSFT shows the stock in a corrective phase with a zigzag structure, identified as Intermediate wave (2). Currently, the stock is witnessing a bottom formation in wave A of (2). After observing a significant top in wave (1), MSFT appears to be undergoing a corrective three-wave movement. The price level around $400, which has been attracting buyers, is anticipated to evolve into a resistance level. Traders should monitor this zone closely for potential reversal signals. * MSFT Elliott Wave Technical Analysis – 4Hr Chart* Moving into the 4-hour chart, the analysis continues to reflect a counter-trend with a zigzag corrective structure, highlighting the end of Wave A. Here, a clear five-wave movement has been identified, with distinct alternations between waves {ii} and {iv}. The current position, at the bottom of wave {v}, suggests that the stock might experience a short-term pullback in wave B before potentially declining further. This provides a strategic point for traders to look for entry and exit points during the unfolding of wave B.

EURUSD Elliott Wave Analysis Trading Lounge Day Chart, Euro/U.S.Dollar(EURUSD) Day Chart EURUSD Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE:red wave 3 POSITION: blue wave 3 DIRECTION NEXT HIGHER DEGREES:red wave 4 DETAILS: red wave 2 looking completed at 1.08854 .Now red wave 3 of 3 is in play . Wave Cancel invalid level: 1.08854 The EUR/USD Elliott Wave Analysis for the Day Chart identifies a trend with impulsive characteristics, reflecting significant and consistent movement in one direction within the Elliott Wave structure. This technical analysis helps traders understand market momentum and potential shifts. ### Function The function is described as "Trend," indicating that the analysis is focused on the overall direction of the market, typically associated with impulsive waves that drive price action forward. ### Mode The mode is categorized as "impulsive," pointing to robust, one-directional movement, often linked to waves that exhibit strong trends and rapid price shifts. This mode typically represents the waves driving the broader trend. ### Structure The structure is "red wave 3," suggesting that the observed wave is the third wave in a larger Elliott Wave pattern. The third wave is generally the strongest among impulsive waves, indicating significant upward or downward momentum. ### Position The position is "blue wave 3," indicating that the analysis focuses on a specific segment of the broader wave structure. This positioning aligns with a mid-phase impulsive wave within the larger cycle. ### Direction for the Next Higher Degrees The expected direction for the next higher degrees is "red wave 4," which usually signifies a corrective phase following the completion of an impulsive wave. This direction suggests that once red wave 3 concludes, the market could enter a consolidation or retracement period before the next impulsive phase. ### Details The details provide more granular information about the wave structure. Red wave 2 is considered complete at the 1.08854 level, indicating that the corrective phase has likely ended, paving the way for red wave 3, which is now in play. This suggests a continuation of the impulsive trend, signifying strong market movement. The "Wave Cancel invalid level" at 1.08854 serves as a critical threshold, suggesting that if this level is breached, the current Elliott Wave structure would be invalidated, leading to a new interpretation of the market dynamics. Overall, the EUR/USD Elliott Wave Analysis for the Day Chart points to a strong trend with impulsive movement in red wave 3, indicating significant momentum and directional movement. The completion of red wave 2 at 1.08854 suggests that the corrective phase has ended, with red wave 3 now driving the trend forward. EURUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, Euro/U.S.Dollar(EURUSD) 4 Hour Chart EURUSD Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE:black wave 3 POSITION: red wave 3 DIRECTION NEXT HIGHER DEGREES:black wave 4 DETAILS: black wave 2 looking completed or near to end .Now looking for black wave 3 to play or is in play . Wave Cancel invalid level: 1.08854 The EUR/USD Elliott Wave Analysis for the 4-Hour Chart provides insights into the Euro versus the U.S. Dollar market using the Elliott Wave framework. This analysis identifies a trend scenario with impulsive characteristics, indicating the presence of strong directional movement within the observed wave structure. ### Function The function is described as "Trend," suggesting that the analysis explores a segment within the broader directional trend. This typically involves a focus on the impulsive waves that drive the primary market movement. ### Mode The mode is categorized as "impulsive," pointing towards a strong, one-directional movement. Impulsive modes are often associated with rapid price changes and suggest a clear trend pattern, as opposed to corrective phases that indicate consolidation or retracement. ### Structure The structure identified is "black wave 3," indicating that the observed wave pattern represents the third wave within the larger Elliott Wave cycle. Black wave 3 is typically 2 / 2 the strongest and longest among impulsive waves, indicating that the current trend may be gaining momentum. ### Position The position of the analysis is "red wave 3," denoting that the specific wave under consideration is part of the larger black wave 3. This positioning aligns with a mid-phase impulse within the broader wave structure. ### Direction for the Next Higher Degrees The expected direction for the next higher degrees is "black wave 4," indicating that after the completion of the current impulsive wave, the structure will likely transition into a corrective phase. Black wave 4 typically signifies a temporary retracement within a broader impulsive pattern. ### Details The details provide more specific information about the current wave structure. Black wave 2 is considered completed or near completion, suggesting that the impulsive phase (black wave 3) is about to commence or is already underway. This is a critical juncture in the Elliott Wave cycle, as it indicates a shift from a corrective phase to a renewed impulsive trend. The Wave Cancel invalid level is set at 1.08854, indicating a key threshold. If this level is breached, the current Elliott Wave structure would be invalidated, necessitating a new interpretation of the market pattern. In summary, the EUR/USD Elliott Wave Analysis for the 4-Hour Chart focuses on an impulsive trend structure, with black wave 3 suggesting strong market momentum. The analysis anticipates the end of a corrective phase and the beginning of an impulsive wave, with a Wave Cancel invalid level providing a key point for maintaining the validity of the current Elliott Wave structure. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NATIONAL AUSTRALIA BANK LIMITED - NAB. We identify wave ((iv))-green as having ended, and the potential for wave ((v))-green is open to push higher. ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Technical Analysis ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB 1D Chart (Semilog Scale) Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave ((v))-green Details: The short-term outlook shows that wave ((iv))-green has just ended, and the push up quite high since 32.60 also suggests the return of wave ((v))-green. Invalidation point: 32.60 ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB Elliott Wave Technical Analysis ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB 4-Hour Chart Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave i-blue of Wave ((v))-green Details: The shorter-term outlook suggests that the ((iii))-green wave has recently peaked, and the ((iv))-green wave has unfolded in the form of a Flat correction, with the ((iv))-wave likely completed. The ((v))-green wave is now unfolding to push prices higher. We are closely monitoring NAB, and there will soon be a long-term trading opportunity with NAB. It looks like wave ii-blue is opening up, pushing a little lower, before wave iii-blue returns to push even higher. Invalidation point: 32.60 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: NATIONAL AUSTRALIA BANK LIMITED - NAB 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. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge Daily Chart ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave C Direction Next higher Degrees: Wave (I) of Impulse Wave Cancel invalid Level: 8.498 Details: the corrective of Wave (II) is equal to 61.8% of Wave (I) at 8.702 Log scale chart ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: The second wave correction is likely to go down to test the 10.585 level before rising again in the third wave. Therefore, the overall picture is a short-term pullback to continue rising. Wait for the correction to complete to rejoin the trend. ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H4 Chart ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 5 Direction Next higher Degrees: Wave ((C)) of Zigzag Wave Cancel invalid Level: 81.238 Details: The Five-Wave Decline of Wave ((C)) trend to test 11.582 Level ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: The second wave correction is likely to go down to test the 10.585 level before rising again in the third wave. Therefore, the overall picture is a short-term pullback to continue rising. Wait for the correction to complete to rejoin the trend. ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!

Natural Gas Mode - Impulsive Structure - Impulse Wave Position - Wave (iii) of 5 Direction - Wave (iii) of 5 still in play Details: Price now in wave iii as it attempts to breach 1.65 wave i low. Wave (iii) is still expected to extend lower in an impulse. Natural Gas is currently breaching the previous April low, marking a decisive move as the impulse initiated on 5th March continues its downward trajectory, further extending the overarching impulse wave sequence that commenced back in August 2022. This decline is anticipated to persist as long as the price remains below the critical resistance level of 2.012. Zooming in on the daily chart, we observe the medium-term impulse wave originating from August 2022, which is persisting in its downward trend after completing its 4th wave - delineated as primary wave 4 in blue (circled) - at 3.666 in October 2023. Presently, the 5th wave, identified as primary blue wave 5, is underway, manifesting as an impulse at the intermediate degree in red. It is envisaged that the price will breach the February 2024 low of 1.533 as wave 5 of (3) seeks culmination before an anticipated rebound in wave (4). This confluence of price movements underscores the bearish sentiment prevailing over Natural Gas in the medium term. Analyzing the H4 chart, we initiated the impulse wave count for wave (3) from the level of 2.012, which marks the termination point of wave 4. Notably, price action formed a 1-2-1-2 structure, with confirmation established at 1.65 and invalidation set at 2.012. The confirmation of our anticipated direction materialized as price breached the 1.65 mark, signifying a resumption of bearish momentum. Presently, there appears to be minimal resistance hindering the bears, thereby reinstating their dominance in the market. It is projected that wave iii of (iii) of 5 will manifest around 1.43, indicative of the potential for the wave 5 low to extend to 1.3 or even lower. This comprehensive analysis underscores the prevailing bearish outlook for Natural Gas in the immediate future. Technical Analyst : Sanmi Adeagbo

TXN Elliott Wave Analysis Trading Lounge Daily Chart, Texas Instruments Inc., (TXN) Daily Chart TXN Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Intermediate (1) DIRECTION: Acceleration in wave 3. DETAILS: Looking for upside in wave 3 as we seem to have had a shallow wave {c} of 2, potentially indicating a strong upward momentum. TXN Elliott Wave Analysis Trading Lounge 4Hr Chart, Texas Instruments Inc., (TXN) 4Hr Chart TXN Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {i} of 3. DIRECTION: Top in wave {i}. DETAILS: Looking for a pullback in wave {ii} as we top in wave {i} to then look for additional longs, looking for 172$ to provide support. We conducted a detailed Elliott Wave analysis for Texas Instruments Inc. (Ticker: TXN), examining both its daily and 4-hour chart movements. This analysis aims to provide valuable insights into potential future price movements for traders and investors interested in TXN stock. * TXN Elliott Wave Technical Analysis – Daily Chart* Texas Instruments Inc. is currently exhibiting a strong impulsive trend, characterized by a motive structure placed in Intermediate wave (1). The stock is anticipated to experience acceleration in wave 3 following a shallow wave {c} of 2. This suggests a robust upward momentum, signaling favorable conditions for bullish positions. * TXN Elliott Wave Technical Analysis – 4Hr Chart* On the 4-hour chart, TXN's impulsive trend is further evident, with the stock positioned in Wave {i} of 3. As the stock approaches the top in wave {i}, a pullback is expected in wave {ii}. This corrective phase presents an opportunity for traders to consider additional long positions, with the key support level identified around $172. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!

GBPUSD Elliott Wave Analysis Trading Lounge Day Chart, British Pound/U.S.Dollar(GBPUSD) Day Chart GBPUSD Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Impulsive as A STRUCTURE: red wave 3 POSITION: blue wave A DIRECTION NEXT HIGHER DEGREES: blue wave 4 DETAILS:red wave 2 of A completed at 1.17096 , now red wave 3 is in play . Wave Cancel invalid level: 1.27096 The GBP/USD Elliott Wave Analysis for the Daily Chart explores the British Pound versus the U.S. Dollar using the Elliott Wave framework. This analysis provides a structured view of the market trends, focusing on counter-trend waves and their implications for traders and analysts. ### Function The function of this analysis is identified as "Counter Trend," suggesting that the observed wave patterns represent a phase that moves against the prevailing longer-term trend. This could imply a corrective movement within a broader trend, indicating a temporary reversal or consolidation before the primary trend resumes. ### Mode The mode is categorized as "Impulsive as A," indicating that the current wave structure represents an impulsive move typically found at the beginning of a new wave cycle. This mode generally suggests a strong, directional movement, often indicating the initial stages of a larger trend shift. ### Structure The structure is noted as "red wave 3," highlighting an impulsive wave that typically denotes a continuation of a broader trend. Red wave 3 within this context could signify a strong push in the counter-trend direction. ### Position The position in the Elliott Wave sequence is "blue wave A," indicating that the observed pattern is part of an impulsive phase. This position often aligns with a larger correction within a broader trend, suggesting that the current impulsive phase is still part of a counter-trend movement. ### Direction for the Next Higher Degrees The anticipated direction for the next higher degrees is "blue wave 4," indicating that once the current wave completes, the structure will likely transition to a corrective phase. Blue wave 4 typically represents a temporary retracement within a broader impulsive pattern. ### Details The analysis specifies that red wave 2 of wave A completed at 1.17096, with red wave 3 now in play. This implies that the current impulsive wave is expected to continue, potentially leading to a broader counter-trend movement. The Wave Cancel invalid level is set at 1.27096, indicating a critical threshold. If the price crosses this level, it would invalidate the current wave structure, necessitating a reevaluation of the Elliott Wave count. In summary, the GBP/USD Elliott Wave Analysis on the Daily Chart describes a counter-trend movement with an impulsive mode, focusing on red wave 3 within blue wave A. The structure is expected to continue its impulsive trend, with a Wave Cancel invalid level serving as a key point for determining if the current analysis remains valid. GBPUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, British Pound/U.S.Dollar(GBPUSD) 4 Hour Chart GBPUSD Elliott Wave Technical Analysis FUNCTION: Trend MODE: corrective STRUCTURE: black wave 2 POSITION: red wave 3 DIRECTION NEXT LOWER DEGREES: black wave 3 DETAILS: black wave of 2 is in play and likely to end between fib level 50.00 to 61.80 . Wave Cancel invalid level: 1.27096 The GBP/USD Elliott Wave Analysis on the 4-Hour Chart provides insights into the British Pound versus the U.S. Dollar within the framework of Elliott Wave Theory. This analysis helps traders understand the underlying wave structure and anticipate potential market movements. ### Function The function of this analysis is identified as "Trend," indicating that the overall market movement aligns with a broader trend. In this case, the trend reflects a continuation pattern where market waves are forming in a way that aligns with the primary direction of the trend. ### Mode The mode is labeled as "corrective," suggesting that the current wave structure represents a correction within a larger trend. Corrective modes typically signify a temporary pullback or consolidation, indicating that the price is currently in a counter-trend phase. ### Structure The structure in this analysis is specified as "black wave 2," which represents an intermediate-level correction. This wave generally appears within a larger trend to correct an earlier impulsive movement, signaling a potential retracement before the larger trend resumes. ### Position The position in the wave pattern is "red wave 3," indicating that the corrective structure is situated within a broader Elliott Wave framework. Red wave 3 represents a key point in the corrective phase, suggesting an ongoing retracement that could lead to a shift in trend direction. ### Direction for the Next Lower Degrees The expected direction for the next lower degrees is indicated as "black wave 3." This suggests that once the correction completes, the wave pattern will likely transition to a more impulsive phase, potentially indicating a continuation of the broader trend. ### Details The analysis details that black wave 2 is currently in play and is expected to conclude between the 50.00 and 61.80 Fibonacci retracement levels. This range often indicates a common end for corrective waves, signifying a potential turning point in the trend. The Wave Cancel invalid level is set at 1.27096, suggesting that if the price crosses this point, the current wave structure is invalidated, requiring a re-evaluation of the Elliott Wave count. In summary, the GBP/USD Elliott Wave Analysis on the 4-Hour Chart describes a trend with a corrective mode, indicating that black wave 2 is nearing completion, with a potential transition to a more impulsive black wave 3. The end of this correction between the 50.00 and 61.80 Fibonacci levels might suggest the resumption of the primary trend, with a critical invalidation point to consider for risk management. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

ASX: COMMONWEALTH BANK OF AUSTRALIA. - CBA Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COMMONWEALTH BANK OF AUSTRALIA. - CBA. We identify a correction wave as the 2-red wave that has just ended, and we are continuously watching for a CBA for a Long-term trade. ASX: COMMONWEALTH BANK OF AUSTRALIA. - CBA Elliott Wave Technical Analysis ASX: COMMONWEALTH BANK OF AUSTRALIA. - CBA 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave 3-red Details: The short-term outlook indicates a fairly rapid and strong price increase from the low of 109.94, suggesting that the 2-red wave has concluded, and the 3-red wave is unfolding. Pushing above and breaking the upper boundary line of the channel further clarifies this bullish view. We are closely monitoring CBA as we identify a long-term trading opportunity by seeking a strong support level at the Minor Level 110. Invalidation point: 96.15 ASX: COMMONWEALTH BANK OF AUSTRALIA. - CBA Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: COMMONWEALTH BANK OF AUSTRALIA. - CBA Elliott Wave Technical Analysis ASX: COMMONWEALTH BANK OF AUSTRALIA. - CBA 4-Hour Chart Analysis Function: Major trend (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave 3-red Details: The shorter-term outlook suggests that the recent completion of the 1-red wave and the initiation of the 2-red wave have occurred to push prices lower. It appears that the 2-red wave has completed, allowing the 3-red wave to unfold upwards. We are closely monitoring CBA as there is a potential long-term trading opportunity with CBA. A rise above 120.60 would clarify the bullish outlook. Invalidation point: 95.15 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: COMMONWEALTH BANK OF AUSTRALIA. - CBA 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. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge Daily Chart, Cadarno/ U.S. dollar(ADAUSD) ADAUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave C Direction Next higher Degrees: wave (II) of Impulse Wave Cancel invalid level: Details: Wave II Is equal to 61.8% of Wave I at 0.358 Cadarno/ U.S. dollar(ADAUSD)Trading Strategy: The second wave correction in the Expanded Flat pattern, where we are in the middle of a decline in Wave C, will have five extended internal sub-waves. But we still have one more decline left for Wave C to complete. So wait for the correction to complete to rejoin the trend. Cardano/ U.S. dollar(ADAUSD)Technical Indicators: The price is below the MA200 indicating a Dow trend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H4 Chart, Cadarno/ U.S. dollar(ADAUSD) ADAUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 4 Direction Next higher Degrees: wave C of Flat Wave Cancel invalid level: Details: A short-term pullback in wave 4 before falling again in wave 5. Cardano/ U.S. dollar(ADAUSD)Trading Strategy: The second wave correction in the Expanded Flat pattern, where we are in the middle of a decline in Wave C, will have five extended internal sub-waves. But we still have one more decline left for Wave C to complete. So wait for the correction to complete to rejoin the trend. Cardano/ U.S. dollar(ADAUSD)Technical Indicators: The price is below the MA200 indicating a Dow trend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!

Stock Market Report S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, SPY, QQQ, META, AMZN, MSFT, NVDA, ASX 200. Elliott Wave Technical Analysis Elliott Wave Analysis Indices: Meta Platforms should find support in the 400 - 380 area. Amazon dropped less but has the same bearish pattern and these moves move the Nasdaq and SP500 which in turn moves the DAX etc. Today I look at the bigger picture and the details on these stocks and Indices to make sense of the next possible pathways. Video Chapters 00:00 SPY, QQQ, META, AMZN, MSFT, NVDA 05:39 SP 500 (SPX) SPY 09:25 NASDAQ (NDX) QQQ 11:35 Russell 2000 (RUT) 12:41 DAX 40 (DAX) 14:43 FTSE 100 UKX (UK100) 17:08 S&P/ASX 200 (XJO) 23:59 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com

Gold Elliott Wave Analysis Function - Trend Mode - Impulse Structure - Impulse wave Position -Wave 4 Direction - Wave 5 Details - Wave 4 has reached the extreme area and bounced off the 2300 MG1. We will expect wave 5 to progress higher. However, it’s still in the early stages. Invalidation below 2245.17. Gold has undergone a retracement since its peak on April 12th, following a remarkable surge to a fresh all-time high. Despite this pullback, the underlying bullish momentum remains robust and is anticipated to reassert itself once the corrective phase concludes. In today's analysis, we delve into the potential areas where Gold may discover the necessary support to propel its next upward movements. Zooming into the daily chart, our Elliott Wave analysis commences with identifying an impulse wave sequence originating from the low at 1614, marking the termination of wave (IV) at the supercycle degree back in September 2022. Presently, the supercycle wave V is unfolding, currently navigating through the third leg of the cycle degree, denoted as wave III. Within this wave III, classified as an impulse wave, we find ourselves within the third sub-wave, indicated as blue wave '3' of primary degree, further delineated into wave (3) of intermediate degree. Within this intricate structure, the price action appears to be nearing the culmination of minor degree wave 4. Consequently, the impulse sequence characterizing the intermediate wave (3) has yet to finalize, let alone the overarching supercycle wave (V). Thus, Gold's bullish trajectory remains firmly intact, advocating for a strategic approach of buying into the dips within this robust trend. Presently, the price appears to be undergoing a dip corresponding to wave 4 of (3), with an anticipated subsequent uptrend in wave 5. Transitioning to the H4 chart, our focus narrows on the completion of wave 4, manifesting as a zigzag pattern since the peak on April 12th. Conventionally, the termination of the third leg of a zigzag typically occurs at extensions ranging from 100% to 138.2% of the initial leg's length from the subsequent corrective move. However, an extension beyond 138.2%, particularly to 161.8%, tends to invalidate the zigzag pattern. In this context, we cautiously assert that the zigzag for wave 4 might have concluded, with a critical level of invalidation identified at 2245. Nonetheless, further confirmation is sought through the emergence of more bullish candle formations. Meanwhile, the target projection for wave 5 remains at 2500, aligning with the continuation of Gold's upward trajectory within the Elliott Wave framework. Technical Analyst : Sanmi Adeagbo Source : TradingLounge.com get trial here!

JNJ Elliott Wave Analysis Trading Lounge Daily Chart Johnson & Johnson, (JNJ) Daily Chart JNJ Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Complex POSITION: Intermediate (2). DIRECTION: Downside in wave Z. DETAILS: Looking for support as we touched 0.618 Z vs. X. If we find resistance on Medium Level at 150 then we can expected further downside. JNJ Elliott Wave Analysis Trading Lounge 4Hr Chart, Johnson & Johnson, (JNJ) 4Hr Chart JNJ Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (iv) of {c}. DIRECTION: Downside into wave (v). DETAILS: Looking to find resistance on 150, as wave (ii) was sharp we could anticipate a sideways wave (iv), to move around 150 itself. On April 24, 2024, we conducted a comprehensive Elliott Wave analysis on Johnson & Johnson (Ticker: JNJ), focusing on the dynamics revealed through the daily and 4-hour chart studies. Our analysis highlights crucial patterns and potential future movements, offering valuable insights for traders and investors engaged in JNJ’s stock. * JNJ Elliott Wave Technical Analysis – Daily Chart* Johnson & Johnson is observed in a counter trend phase characterized by a complex corrective structure, specifically placed in Intermediate wave (2). Currently, the stock is progressing through the downside movements of wave Z. Key observations indicate the stock has reached the Fibonacci retracement level of 0.618 Z vs. X, signaling a potential area for finding support. Should resistance solidify at the medium level of $150, further downside could be expected as the pattern completes. * JNJ Elliott Wave Technical Analysis – 4H Chart* The 4-hour chart provides additional granularity into JNJ's Elliott Wave structure. Unlike the daily chart’s corrective mode, the intraday perspective shows an impulsive mode within a motive structure, pinpointing the stock in wave (iv) of {c}. This suggests that despite the broader correction, short-term dynamics involve impulsive downside movements. With wave (ii) noted as sharp, a contrasting sideways consolidation in wave (iv) is anticipated around $150, leading to a further decline in wave (v). 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: Counter Trend MODE: impulsive as A STRUCTURE: blue wave 3 POSITION: black wave B DIRECTION NEXT HIGHER DEGREES: black wave B DETAILS: blue wave 2 completed , now blue wave 3 of Ais in play .Wave Cancel invalid level: 0.64440 The AUD/USD Elliott Wave Analysis for the Day Chart provides an in-depth examination of the trends and expected future movements in the Australian Dollar/U.S. Dollar currency pair according to Elliott Wave Theory. ### Function The function of the analysis is identified as "Counter Trend." This designation indicates that the current wave structure is moving against the broader trend. In other words, while the overall market direction may be trending in one way, the current analysis focuses on a temporary reversal or correction against that prevailing trend. ### Mode The mode for this chart is described as "impulsive as A." This designation signifies that the ongoing wave is impulsive, suggesting strong momentum, yet is part of a corrective phase. The impulse often initiates a new corrective wave or drives a significant move within the larger wave structure. ### Structure The structure is defined as "blue wave 3." This structure is indicative of an intermediate-level wave within a corrective cycle. Blue wave 3 of A generally suggests that a significant impulsive phase is occurring within a broader counter-trend movement. ### Position The position within the Elliott Wave structure is noted as "black wave B." This placement suggests that the current wave structure is part of a larger corrective phase, possibly indicating a retracement or consolidation pattern within a higher degree of correction. ### Direction for the Next Higher Degrees The analysis highlights the "black wave B" as the expected direction at higher degrees. This reference indicates that the current impulsive phase will eventually lead to a larger corrective movement, often resembling a multi-level pattern in Elliott Wave Theory. ### Details The details state that blue wave 2 has completed, and blue wave 3 of A is now in play. This transition indicates a move from a corrective phase to an impulsive one. The Wave Cancel invalid level is 0.64440, implying that if the price moves beyond this point, the current wave structure will require reassessment, signaling a potential invalidation of the wave count. In summary, the AUD/USD Elliott Wave Analysis for the Day Chart reveals a complex corrective phase within a larger counter-trend pattern. Blue wave 3 of A is underway, indicating an impulsive phase within a broader correction, with a Wave Cancel invalid level providing a crucial marker for risk management. This analysis suggests that the trend may continue to develop, leading to more intricate wave structures within the larger Elliott Wave framework. AUDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, Australian Dollar/U.S.Dollar (AUDUSD) 4 Hour Chart AUDUSD Elliott Wave Technical Analysis AUDUSD Elliott Wave Technical Analysis FUNCTION: Trend MODE: corrective STRUCTURE: red wave 2 POSITION: blue wave 3 DIRECTION NEXT LOWER DEGREES: red wave 3 DETAILS: red wave 2 is in play and looking near to end between 50.00 to 61.80 fib level .Wave Cancel invalid level: 0.64440 The AUD/USD Elliott Wave Analysis for the 4-Hour Chart examines the current trends and likely future direction of the Australian Dollar/U.S. Dollar currency pair based on Elliott Wave Theory. ### Function The function of this analysis is identified as "Trend," indicating that the wave structure being analyzed is part of a broader ongoing trend rather than a counter-trend or corrective move. This classification signifies that the current pattern is likely to align with a larger directional movement. ### Mode The mode for this chart is described as "corrective." Although the overall function is a trend, the current wave structure is correcting within that trend. Corrective waves usually follow an impulsive phase, indicating a retracement or a consolidation phase within the ongoing trend. ### Structure The structure is defined as "red wave 2." This wave typically represents a correction within a larger impulsive structure. It suggests that the current corrective phase is an intermediate step in a more significant trend, often occurring after an impulsive wave has completed. ### Position The current position within the Elliott Wave structure is "blue wave 3." This position points towards an intermediate-degree wave pattern, often indicating a larger wave in the multi-level structure of Elliott Waves. The presence of a corrective structure within a blue wave 3 suggests a potential pause in a broader upward or downward trend. ### Direction for the Next Lower Degrees The analysis points towards "red wave 3" as the next lower-degree trend. This indication aligns with the structure's corrective mode, suggesting that once the current red wave 2 concludes, a new impulsive movement is likely to begin in the form of red wave 3. ### Details The analysis states that red wave 2 is nearing its end, falling between the 50.00 and 61.80 Fibonacci retracement levels. These levels are significant as they often serve as key support or resistance zones where reversals may occur. The Wave Cancel invalid level is at 0.64440, indicating that if the price moves beyond this point, the current wave structure may be invalidated, requiring re-evaluation. In summary, the AUD/USD Elliott Wave Analysis for the 4-Hour Chart outlines a current corrective phase within a broader trend. It suggests that once red wave 2 concludes, an impulsive red wave 3 is likely to begin, indicating a potential shift in market direction. The Fibonacci retracement levels offer guidance on where this correction might end, while the invalidation level provides a critical risk boundary for traders and analysts. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

ASX: WESTPAC BANKING CORPORATION – WBC Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with WESTPAC BANKING CORPORATION - WBC. Our recently updated forecast for NST in the Top 50 ASX Stocks service is still active. We identify a long-term trading opportunity with WBC, and are watching closely to provide the best Entry points. ASX: WESTPAC BANKING CORPORATION – WBC Elliott Wave Technical Analysis ASX: WESTPAC BANKING CORPORATION – WBC 1D Chart (Semilog Scale) Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave ((v))-green Details: The short-term outlook suggests that the ((iv))-green wave has concluded, and the ((v))-green wave is unfolding to push prices even higher. A price increase above the 26.5 - 27.2 range would be an initial step to enhance the likelihood of this perspective. Invalidation point: 22.33 ASX: WESTPAC BANKING CORPORATION – WBC Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: WESTPAC BANKING CORPORATION – WBC Elliott Wave Technical Analysis ASX: WESTPAC BANKING CORPORATION – WBC 4-Hour Chart Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave ((v))-green Details: The shorter-term outlook suggests that the ((iii))-green wave has recently peaked, and the ((iv))-green wave has unfolded in the form of a Flat correction, with the ((iv))-wave likely completed. The ((v))-green wave is now unfolding to push prices higher. Breaking above the 26.5 level would be an initial step to strongly reinforce this perspective. We are closely monitoring WBC, and there will soon be a long-term trading opportunity with it. Invalidation point: 22.33 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: WESTPAC BANKING CORPORATION – WBC 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. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge Daily Chart Theta Token/ U.S. dollar(THETAUSD) THETAUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Impulse Position: Wave ((5)) Direction Next higher Degrees: wave I of Impulse Wave Cancel invalid Level: Details: Wave ((4) may is complete and the Price entry to uptrend again Theta Token/ U.S. dollar(THETAUSD)Trading Strategy: The correction in wave ((4)) appears to be over. And the price is increasing again in waves ((5)), so the overall picture is looking for an opportunity to open a long position. with a target price at the level 5.185 - 6.263 Theta Token/ U.S. dollar(THETAUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Elliott Wave Analysis TradingLounge H4 Chart Theta Token/ U.S. dollar(THETAUSD) THETAUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Impulse Position: Wave ((5)) Direction Next higher Degrees: wave I of Impulse Wave Cancel invalid Level: Details: Wave ((4) may is complete and the Price entry to uptrend again Theta Token/ U.S. dollar(THETAUSD)Trading Strategy: The correction in wave ((4)) appears to be over. And the price is increasing again in waves ((5)), so the overall picture is looking for an opportunity to open a long position. with a target price at the level 5.185 - 6.263 Theta Token/ U.S. dollar(THETAUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge Daily Chart Theta Token/ U.S. dollar(THETAUSD) THETAUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Impulse Position: Wave ((5)) Direction Next higher Degrees: wave I of Impulse Wave Cancel invalid Level: Details: Wave ((4) may is complete and the Price entry to uptrend again Theta Token/ U.S. dollar(THETAUSD)Trading Strategy: The correction in wave ((4)) appears to be over. And the price is increasing again in waves ((5)), so the overall picture is looking for an opportunity to open a long position. with a target price at the level 5.185 - 6.263 Theta Token/ U.S. dollar(THETAUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Elliott Wave Analysis TradingLounge H4 Chart Theta Token/ U.S. dollar(THETAUSD) THETAUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Impulse Position: Wave ((5)) Direction Next higher Degrees: wave I of Impulse Wave Cancel invalid Level: Details: Wave ((4) may is complete and the Price entry to uptrend again Theta Token/ U.S. dollar(THETAUSD)Trading Strategy: The correction in wave ((4)) appears to be over. And the price is increasing again in waves ((5)), so the overall picture is looking for an opportunity to open a long position. with a target price at the level 5.185 - 6.263 Theta Token/ U.S. dollar(THETAUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!

Commodity Market Elliott Wave Analysis for Bitcoin, Ethereum, Crypto Index, TLT Bonds, US 10 Yr. Yields, USD/ DXY, Gold, Silver, Copper, Uranium, Crude Oil, Natural Gas, XLE ETF, XME ETF. Elliott Wave Analysis Update for Commodity Markets: Current Analysis Remains Unchanged In the latest Elliott Wave analysis of the commodity markets, there is no alteration in the wave counts. Bitcoin is reinforcing its position with Wave (4) appearing to be established, contrasting with Ethereum which shows less clarity. The U.S. Dollar and 10-year yields are expected to continue their upward trajectory. Gold, silver, and uranium are nearing the completion of their Wave 4, suggesting that opportunities for long trades may arise soon. Natural gas is currently in the e) wave of a Wave 4 triangle formation. Crude oil, maintaining a price above $80.00, remains in a bullish stance, as do ExxonMobil (XOM), alongside sector indices XLE (energy) and XME (metals and mining). Video Chapters 00:00 Bitcoin (BTC) ETH/USD / Crypto Index 09:49 US Dollar Index, DXY / TLT Bonds. US Gov Bonds 10 Yr Yields 17:48 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG 28:49 Base Metals:Lithium, Uranium URA ETF / Copper / ETF XME 35:36 Energy: Crude Oil WTI OIL / Natural Gas NG / ETF XLE 41:08 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge.com 6 Analysts covering 150+ markets

Silver Elliott Wave Analysis Function -Trend Mode - Trend Structure - Impulse for (A) Position - Wave 3 of (A) Direction - Wave 4 of (A) Details - Currently in wave 4 dip before further rallies for wave 5 of (A) higher. We should see one more leg lower for wave 4. Not much has changed since the last update. Silver has undergone an extension of its pullback phase since April 12th, 2024, and is now poised within the critical Fibonacci reversal territory. The prevailing trend unmistakably favors the bulls, and it's only a matter of time before its upward trajectory resumes. Amidst this phase, buyers are gearing up to reclaim dominance within the current reversal zone, a juncture demanding keen attention from retail traders. Within this discourse on commodities, our focus delves into both the long-term and near-term Elliott wave prognostications for Silver, emphasizing the pivotal reversal zones meriting trader scrutiny. Zooming into the daily chart, we observe a significant breakout from a protracted triangular formation, constituting part of a double zigzag structure stemming from the September 2022 low, where Silver traded at $17.56. Presently, the price action aligns within the intermediate wave (A) of the primary wave Y (circumscribed in blue). Wave (A) is unfolding into an impulsive sequence since late January 2024. Within the confines of wave (A), the ongoing descent constitutes wave 4. As wave 4 approaches its culmination, an anticipatory surge in wave 5 beckons, potentially propelling prices towards the 30 major level, or possibly even surpassing it. The pivotal query revolves around the termination point of wave 4. Shifting focus to the H4 chart, we discern wave 4 materializing into a zigzag pattern, suggesting potential support within the 100-138% Fibonacci extension levels, corresponding to the range of 26.86 - 26.07. Should the projection extend to 161.8% (25.6), the integrity of the zigzag structure may be compromised, potentially catalyzing a transition toward an impulsive decline. Consequently, an anticipatory rebound within this zone is anticipated. Presently situated within this crucial territory, the price trajectory might explore deeper depths, yet a decisive and vigorous recovery out of this zone remains imperative to facilitate the advancement into wave 5. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

ADI Elliott Wave Analysis Trading Lounge Daily Chart Analog Devices Inc., (ADI) Daily Chart ADI Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Flat POSITION: Minor wave 2 of (3). DIRECTION: Bottom in wave 2. DETAILS: Looking for support to be found within the end of MG2 at 180, we will start looking for long afte we finally find support on top of TL2 at 200$. ADI Elliott Wave Analysis Trading Lounge 4Hr Chart, Analog Devices Inc., (ADI) 4Hr Chart ADI Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Flat POSITION: Wave {c} of 2. DIRECTION: Bottom in wave 2. DETAILS: As we saw on the Daily, we touched equality of {c} vs. {a}. we can expect another leg lower to ideally take wave {a} low out, to then start turning higher. On April 23, 2024, our trading lounge conducted an extensive Elliott Wave analysis of Analog Devices Inc. (Ticker: ADI), providing a detailed breakdown of its daily and 4-hour chart patterns. This analysis aims to offer precise insights into ADI’s market behavior, which could assist traders and investors in making more informed trading decisions. * ADI Elliott Wave Technical Analysis – Daily Chart* Our study reveals that Analog Devices is currently in a counter trend phase with a corrective flat structure, specifically positioned in Minor wave 2 of a larger Intermediate wave (3). The key focus is on identifying the bottom of wave 2. The analysis predicts finding support near the MG2 zone around $180. A bullish outlook is anticipated post-establishing a strong support level, especially above the TL2 at $200. * ADI Elliott Wave Technical Analysis – 4H Chart* The 4-hour chart analysis complements the daily insights by delving deeper into the specifics of wave {c} of Minor wave 2. Consistent with the daily observations, wave {c} has reached a point of equality with wave {a}, signaling a potential completion of the corrective pattern. A final leg lower is expected, ideally surpassing the low of wave {a}, setting the stage for a bullish reversal. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!

AUDJPY Elliott Wave Analysis Trading Lounge Day Chart, Australian Dollar / Japanese Yen (AUDJPY) Day Chart AUDJPY Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: impulsive as C STRUCTURE: red wave C POSITION: blue wave Z DIRECTION NEXT LOWER DEGREES: black wave C DETAILS red wave B of Z looking completed, now red wave C of Z of B looking started . Wave Cancel invalid level:97.779 The AUD/JPY Elliott Wave Analysis for the Day Chart provides an overview of the current market trend and likely future developments in the Australian Dollar/Japanese Yen currency pair, utilizing the principles of Elliott Wave Theory. Function The function of this analysis is described as "Counter Trend." This indicates that the current wave structure represents a corrective move against the primary trend. Counter-trend movements often suggest a retracement or a temporary shift in market direction. Mode The mode for this chart is specified as "impulsive as C." This mode denotes a stronger directional movement within the Elliott Wave structure, indicating that the current counter-trend may contain a significant shift or wave progression. Structure The structure is identified as "red wave C," which typically indicates the final stage of a corrective pattern. This aligns with the function of the analysis, pointing towards a potential transition from correction to a new impulsive phase. Position The position within the broader Elliott Wave structure is "blue wave Z." This position implies that the current pattern is in a complex corrective phase, potentially consisting of multiple interconnected corrective waves. Direction for the Next Lower Degrees The analysis suggests that the next lower degree trend is toward "black wave C." This provides a directional cue, indicating where the trend is likely to head following the current wave structure. Details The analysis mentions that "red wave B of Z" appears to be completed, suggesting that a key part of the corrective cycle has ended. This is significant because it denotes the beginning of a new phase, specifically "red wave C of Z of B." This structure could represent the start of a more substantial movement within the current Elliott Wave pattern, indicating a shift in momentum. The "Wave Cancel invalid level" is listed at 97.779. This level is crucial for understanding where the current wave structure might break down. If the market moves past this point, the current analysis could be invalidated, requiring a new interpretation of the Elliott Wave structure. In summary, the analysis outlines a transition in the AUD/JPY pair from a corrective phase to a potentially more impulsive structure. It provides key points to watch for traders and analysts, indicating possible changes in market direction. The critical invalidation level gives traders a boundary for risk management, serving as a guide for trading decisions and strategy adjustments. AUDJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, Australian Dollar / Japanese Yen (AUDJPY) 4 Hour Chart AUDJPY Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: impulsive as C STRUCTURE: red wave C POSITION: blue wave Z DIRECTION NEXT HIGHER DEGREES: red wave C (started) DETAILS red wave B of Z looking completed, now red wave C of Z looking started . Wave Cancel invalid level:97.779 The AUD/JPY Elliott Wave Analysis for the 4-Hour Chart provides insights into the current market trends and future projections for the Australian Dollar/Japanese Yen currency pair using the Elliott Wave Theory. ### Function The function of this analysis is identified as "Counter Trend." This suggests that the current market structure is moving in opposition to a broader, larger trend. Counter-trend movements often signal corrections or retracements within a larger trend. ### Mode The mode described in this analysis is "impulsive as C," indicating that the ongoing wave pattern is impulsive and represents a final phase of a correction. Impulsive waves generally signify more substantial and direct price movements within the Elliott Wave structure. ### Structure The structure for this analysis is noted as "red wave C," indicating that the market is in the final phase of a corrective cycle. This structure aligns with the counter-trend function, suggesting a more substantial correction in progress, possibly signaling the beginning of a new trend or the resumption of the broader trend. ### Position The position within the Elliott Wave cycle is listed as "blue wave Z," indicating a higher degree of complexity and possible combination patterns. This is part of a larger structure that often involves multiple corrective waves interconnected in a larger pattern. ### Direction for the Next Higher Degrees The analysis points towards "red wave C," indicating that the current impulsive phase could lead to a broader continuation of the trend, suggesting a transition from correction to impulsion. ### Details The details provided in the analysis indicate that "red wave B of Z" is looking completed, suggesting that a key part of the correction phase has ended. The analysis identifies that "red wave C of Z" is likely beginning, which represents a more substantial impulsive movement in the current cycle. This is a potential signal for traders to watch for continuation patterns. The "Wave Cancel invalid level" of 97.779 is crucial. This level acts as a boundary; if breached, the current Elliott Wave pattern becomes invalid, necessitating a re-evaluation. This invalidation level is critical for traders and analysts as it guides their risk management strategies. In summary, the analysis describes a complex Elliott Wave structure, focusing on the transition from a corrective phase to a more impulsive one. It underscores significant points for traders to watch, indicating potential directional shifts in the market. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

ASX: COLES GROUP LIMITED. – COL Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COLES GROUP LIMITED. – COL. In our ASX Stocks Top 50 forecast service, we have accurately forecast a price decline from a high of around 17.15 down to around 16.00 at the current low. And we are now identifying COL could move higher in the short term outlook. ASX: COLES GROUP LIMITED. – COL Elliott Wave Technical Analysis ASX: COLES GROUP LIMITED. – COL 1D Chart (Semilog Scale) Analysis Function: Counter trend (Minute degree, green) Mode: Corrective Structure: Double Zigzag Position: Wave (b)-purple of Wave ((y))-green Latest forecast: Accurate forecast Details: The short-term outlook indicates that wave ((y))-green is unfolding as a Zigzag, and wave (a)-purple has ended. Therefore, wave (b)-purple is expected to continue pushing lower, seeking support around 16.01 - 15.71 before wave (c)-purple returns to rise higher. Pushing higher off 17.15 would renew the bull market view. Invalidation point: 15.35 ASX: COLES GROUP LIMITED. – COL Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: COLES GROUP LIMITED. – COL Elliott Wave Technical Analysis ASX: COLES GROUP LIMITED. – COL 4-Hour Chart Analysis Function: Counter trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave (c)-purple of Wave ((y))-green Details: The shorter-term outlook suggests it appears the (b)-purple wave has bottomed, but a move higher than level 16.5 is needed to confirm this outlook. If this forecast is correct, wave (c)-purple will be opened to continue pushing higher, aiming for higher targets. Invalidation point: 15.37 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: COLES GROUP LIMITED. – COL 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. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge Daily Chart, Binance/ U.S. dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triangle Position: Wave ((D)) Direction Next higher Degrees: wave 4 Wave Cancel invalid level: 508 Details: Correction in Triangle pattern before rising again in Wave 5. Binance/ U.S. dollar(BNBUSD)Trading Strategy: The short-term correction in Wave 4 with the Triangle pattern continues. Because there is still another decrease in wave E before an increase in wave 5, so wait for the correction to complete to look for opportunities to join the trend again. Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Elliott Wave Analysis TradingLounge H4 Chart, Binance/ U.S. dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triangle Position: Wave ((D)) Direction Next higher Degrees: wave 4 Wave Cancel invalid level: 508 Details: Correction in Triangle pattern before rising again in Wave 5. Binance/ U.S. dollar(BNBUSD)Trading Strategy: The short-term correction in Wave 4 with the Triangle pattern continues. Because there is still another decrease in wave E before an increase in wave 5, so wait for the correction to complete to look for opportunities to join the trend again. Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!

Natural Gas Elliottwave Analysis Mode - Impulsive Structure - Impulse Wave Position - Wave (iii) of 5 Direction - Wave (iii) of 5 still in play Details: Wave (ii) taking a higher leg. Still favors the downside for (iii) on the way to complete wave 5 of (3). Not much has changed since the last update. If current rallies go higher, wave 4 can be considered a triangle as the daily chart shows. In the past two months, Natural Gas has exhibited a sideways movement, consolidating after the resumption of the bearish trend that commenced in October 2023. This consolidation phase presents a crucial juncture for traders, as a break below the lower boundary of this range could signal a continuation of the downward trajectory. In today's Elliott wave analysis of the commodity, we aim to identify potential entry points for sellers and delineate the forthcoming bearish targets. Examining the daily timeframe since August 2022, Natural Gas has been entrenched in a bearish trend, completing either a full bearish impulse or possibly culminating in an A-B-C corrective pattern, with wave C initiating from November 2023 and evolving into an impulse. However, considering the corrective nature of the preceding rally from July 2020 to August 2022, it's prudent to interpret the decline from August 2022 as an impulse. Consequently, we find ourselves within the confines of the 5th wave, denoted as blue wave 5 (circled), which commenced in November 2023. This 5th wave is unfolding as an impulse, delineated as waves (1) to (5). Presently, the price action corresponds to wave (3), specifically within wave 4 of (3). Since the conclusion of wave 3, the price movement has been characterized by sideways consolidation, potentially forming either a triangle pattern or a 1-2-1-2 corrective structure. Upon scrutinizing the 4-hour chart, indications lean towards a 1-2-1-2 corrective pattern. However, if the ongoing short-term rebound surpasses certain thresholds, we may need to reconsider and favor a triangle formation instead. Wave 4 terminated around the significant psychological level of 2.00, suggesting a (i)-(ii)-i-ii structure, with expectations for a breakdown below 1.65 to confirm the onset of wave iii of (iii) as wave 5 progresses. Regardless of whether it unfolds as a 1-2-1-2 correction or a triangle pattern, our anticipation remains for the price to remain below the high of 2.012, validating our bearish outlook. Traders should closely monitor price action for confirmation of these expected movements and adjust their strategies accordingly. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!