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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 Soybeans Elliott Wave Analysis Function - Trend Mode - Impulse Structure - Double Zigzag for (2) Position - Wave 2 of (5) Direction - Wave 3 of (5) Details - More leg higher in the zone is expected to complete wave C of (2). Wave (3) could start from there downwards. However, invalidation for wave (2) remains at 1327’4. Soybean has staged an impressive rebound, surging by over 9% since hitting its low in March 2024. However, this upswing is likely corrective, indicating that the bearish corrective phase stemming from the high in June 2022 is poised to persist, pressuring prices downward in the weeks ahead. The pivotal point to watch is whether it remains below the November 2023 high of 1398; breaching this level could signal an end to the bearish corrective cycle. Long-term buyers may need to exercise patience as the ultimate low has yet to be attained. This analysis delves into potential opportunities for selling the commodity. Examining the daily chart, it's evident that a prolonged bearish correction commenced in June 2022. Before this, Soybean prices experienced a notable uptrend, rallying by 126% between May 2019 and June 2022, completing a bullish impulse wave. Consequently, the downturn from June 2022 serves as a correction to this preceding bullish phase. Upon completion of the bearish correction, the overarching bullish trend is anticipated to resume. However, the chart pattern since June 2022 appears to be shaping into a zigzag formation, identified as primary degree A-B-C marked in blue. The initial blue wave A concluded at 1249 in October 2023, characterized by a diagonal structure. This was followed by a modest rebound for the corresponding blue wave B, reaching 1398 before prices resumed their descent in the third leg - blue wave C. The latter completed an impulse move from 1398, bottoming out at the low of 1129 in March 2024 before the current recovery. However, probably, this impulse wave has only completed the intermediate sub-wave (1) of blue wave 5. A confirmation of the conclusion of the corrective cycle from June 2022 would necessitate the current recovery from the March 2024 low of 1128 evolving into an impulse wave towards the November 2023 peak of 1398. It's plausible to view the ongoing recovery as wave (2) of blue wave C. The H4 chart illustrates wave (2) unfolding in a zigzag pattern, with wave C of (2) nearing completion as it forms an impulse within a reversal zone spanning 1240-1277. Anticipated is one final push higher within this zone, followed by a potential bearish response that could pave the way for a subsequent sell-off in wave (3). However, should the current recovery breach the 1300 mark (161.8% Fib extension level), there's a substantial likelihood of an impulse recovery from the March 2024 low of 1129, potentially invalidating this outlook and suggesting further upward movement for wave (2) or even signaling the conclusion of the long-term bearish correction initiated in June 2022. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

UNH Elliott Wave Analysis Trading Lounge Daily Chart, United Health Group Inc., (UNH) Daily Chart UNH Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minute wave {iii}. DIRECTION: Upside in Minute {ii}. DETAILS: As we seem to have found support on TL5 at 500$, we are looking for upside resumption, which could take us to TL8 in the long term. 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 UNH Elliott Wave Analysis Trading Lounge 4Hr Chart United Health Group Inc., (UNH) 4Hr Chart UNH Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (i) of {iii}. DIRECTION: Wave iii of (i). DETAILS: Looking for a completion of wave (i) to then pullback in (ii) and eventually looking for additional longs. The Elliott Wave analysis for UnitedHealth Group Inc. (UNH) provides a technical forecast for its stock behavior on the Daily and 4-hour charts. This detailed analysis aims to guide traders and investors through the expected price movements influenced by UNH’s wave patterns. * UNH Elliott Wave Technical Analysis – Daily Chart* On the daily chart, UNH is currently in a Minute wave {iii} of its impulsive, motive wave structure, signaling robust upward potential. The stock found support at the $500 mark, along the critical TL5 (Trend Line 5). This support suggests a bullish resumption might be forthcoming, with the potential to reach higher trend line levels like TL8 over the long term. * UNH Elliott Wave Technical Analysis – 4H Chart* Drilling down to the 4-hour chart, UNH is advancing through Wave (i) of Minute {iii}. The current structure indicates that Wave (i) is nearing completion, and a subsequent pullback in Wave (ii) is expected. This pullback should set the stage for further bullish activity as the stock progresses into Wave iii of (i). Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!

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 1 DIRECTION NEXT LOWER DEGREES: red wave 4 DETAILS:red wave 2 of blue wave 1 looking completed at 1.06494, now red wave 3 of 1 is in play . Wave Cancel invalid level: 1.06494 The EUR/USD Elliott Wave Analysis for the Daily Chart shows that the Euro against the U.S. Dollar is currently in an impulsive wave pattern, indicating that the overall market trend is characterized by strong directional movement. ### Function The function is "Trend," suggesting that the market is moving in a clear direction, which aligns with a larger wave pattern, typically indicating significant momentum in one direction. ### Mode The mode is "impulsive," pointing to a strong, direct market movement that typically represents the larger driving force behind the trend. Impulsive waves are often characterized by rapid price changes and high volatility. ### Structure The structure is described as "red wave 3," indicating that the market is in a strong upward or downward movement, often seen as the main thrust within a broader wave structure. This wave usually sees significant price changes in a relatively short time frame. ### Position The position is "blue wave 1," indicating that the market has completed a prior wave sequence and is now in the first sub-wave of the next structure. This stage is crucial for confirming the direction of the impulsive move. ### Direction for the Next Lower Degrees The direction for the next lower degrees points towards "red wave 4," suggesting that once the current wave concludes, there could be a corrective phase before resuming the trend. This stage often sees a retracement or consolidation in the market. ### Details The details section indicates that "red wave 2 of blue wave 1" seems completed at 1.06494, suggesting that the current corrective phase has ended or is nearing completion. Now, "red wave 3 of 1" is in play, which typically implies a strong directional movement. The wave cancellation or invalidation level is set at 1.06494, marking a critical point where the current wave structure could be invalidated, leading to a reevaluation of the wave pattern. In summary, the EUR/USD Elliott Wave Analysis for the Daily Chart highlights an impulsive structure with "red wave 3" in progress, suggesting that the market is in a strong trend. The completion of "red wave 2" and the commencement of "red wave 3 of blue wave 1" signal a significant market movement. The wave cancellation level at 1.06494 serves as a key point to watch, as it indicates where the current wave pattern could be invalidated, potentially requiring a new analysis. 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 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: corrective STRUCTURE:black wave 2 POSITION:red wave 3 DIRECTION NEXT LOWER DEGREES: black wave 3 DETAILS:black wave 2 of or red wave 3 is in play and looking near to end . Wave Cancel invalid level: 1.06494 The EUR/USD Elliott Wave Analysis for the 4-Hour Chart suggests that the Euro against the U.S. Dollar is in a corrective phase, with the potential for an impending trend change or a continuation of the existing pattern. ### Function The function of the current analysis is identified as "Trend," indicating that the overall market movement is in line with a larger trend, albeit in a corrective stage. ### Mode The mode is described as "corrective," signifying that the existing market pattern may involve complex wave structures, typically seen during periods of retracement or consolidation within a broader trend. ### Structure The structure is noted as "black wave 2," suggesting that the second wave within a broader wave sequence is in progress. This is a critical phase, often representing a correction or retracement after a more significant movement in the market. ### Position The current position is "red wave 3," which indicates a potential transition within the broader wave structure. This phase is crucial as it might signal a trend reversal or continuation, depending on how the market reacts at this level. ### Direction for the Next Higher Degrees The next lower degrees point towards "black wave 3," indicating that once the current corrective phase concludes, there could be a significant movement in the market's primary direction, typically suggesting an upward shift. ### Details The details section describes that "black wave 2 of red wave 3" is either in play or nearing completion. This suggests that the corrective phase is at or approaching its end, hinting at a potential shift in market direction. The wave cancellation or invalidation level is set at 1.06494, marking a critical point where the current wave pattern could be invalidated, necessitating a reevaluation of the analysis. In summary, the EUR/USD Elliott Wave Analysis for the 4-Hour Chart outlines a corrective structure with "black wave 2" in progress, indicating a possible end to the correction and a subsequent shift in the market. The wave cancellation level at 1.06494 is crucial, as it signifies the point at which the current pattern may require re-evaluation. As "red wave 3" reaches its conclusion, the focus shifts to "black wave 3," pointing to potential new trends or a continuation of the existing pattern. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

ASX: ASX LIMITED - ASX Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with ASX LIMITED - ASX . We have determined that wave 2-red has ended, and wave 3-red can be opened to push higher. ASX: ASX LIMITED - ASX Elliott Wave Technical Analysis ASX: ASX LIMITED - ASX 1D Chart (Semilog Scale) Analysis Function: Major (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave 3-red Details: Short-term outlook suggests that the 2-red wave has just concluded, and the 3-red wave may be ready to resume its upward movement. We are waiting for a smaller ABC Correction to have a good Long Trade Setup. Invalidation point: 61.71 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 ASX: ASX LIMITED - ASX Elliott Wave Technical Analysis TradingLounge (4- Hour Chart) ASX: ASX LIMITED - ASX Elliott Wave Technical Analysis ASX: ASX LIMITED - ASX 4-Hour Chart Analysis Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave ii-blue of Wave (iii)-purple Details: The short-term outlook suggests that waves (i) and (ii) in purple have just ended, and wave (iii) in purple is now unfolding to push higher. It is subdividing into wave i in blue, which seems to have just reached a peak. Now, wave ii in blue is likely to unfold to push slightly lower. We will closely monitor the ASX for a good long trade opportunity. Invalidation point: 61.71 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: ASX LIMITED - ASX 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!

Today's Stock Market Overview: S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200. Featuring Elliott Wave Technical Analysis Elliott Wave Analysis Indices: Elliott Wave Analysis Indices: NASDAQ 100 and SP500 Wave (iv) of i) of 3 of (5) of 3). Waiting for the top of Wave i) and then the (a) (b) (c) corrective retracement as Wave ii) which is the long trade set up. Today I look at the bigger picture for indices and compare the timing of Elliott wave counts with the DAX and FTSE 100. In the medium term we can expect the current trend to last over a month, so staying long in indices and stocks is the basic trading strategy. Video Chapters 00:00 SP 500 (SPX) 06:35 NASDAQ (NDX) 09:28 Russell 2000 (RUT) IWM 10:03 DAX 40 (DAX) 16:06 FTSE 100 UKX (UK100) 20:44 S&P/ASX 200 (XJO) 27:19 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com

Wheat Elliott Wave Analysis Function - Trend Mode - Trend Structure - Impulse for wave (A) Position - Wave 5 of (A) Direction - Wave 5 of (A) is still in play Details - We can confirm that the recovery from 523’6 is an impulse for (A). We should see a further extension to the 661’4-703’2 Fibonacci zone where wave (B) might begin. Not much has changed since the previous update. Wheat is on the verge of its most significant recovery since October 2022. It seems that the two-year bearish cycle from March 2022 to March 2024 has concluded. Consequently, the current recovery appears to be correcting the entire cycle, giving it the advantage to surge higher than the previous bounces during the bearish cycle. On the daily chart, we can identify a bearish impulse wave sequence between the March 2022 peak of 1364’4 and the March 2024 low of 523’6. The impulse wave was completed with an ending diagonal pattern. Price broke out of the diagonal, initiating the recovery. However, it's not expected to recover the entire two-year bearish trend. This should mark the beginning of a correction towards 842’2-942 at least. Of course, there is potential for the price to fail to reach the Fibonacci retracement zone or even surpass it. It's too early to determine the structural path the price will take to complete this corrective cycle. Most likely, it will be a zigzag or a double zigzag because the price breaks out of the diagonal wave (5) with an impulse structure. Therefore, we can expect an intermediate degree (1)-(2)-(3)-(4)-(5) to complete the primary wave ‘A’ of a single zigzag or an (A)-(B)-(C) for wave ‘W’ of a double zigzag. Since both scenarios imply an upside direction, we can start with one for simplicity and adjust as we gather more price action in the coming weeks. In this case, we are initiating a double zigzag forecast for the expected bullish corrective cycle. On the H4 chart, wave (A) is nearing completion of an impulse structure. We can anticipate it to finish at the 661-703 Fibonacci extension zone. Wave (B) is now correcting wave (A) downwards before the price resumes its upward movement for (C). Therefore, as long as 523’6 is not breached, traders would be looking to buy dips as the long-term bullish correction progresses. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

TJX Elliott Wave Analysis Trading Lounge Daily Chart, The TJX Companies Inc., (TJX) Daily Chart TJX Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minute wave {v}. DIRECTION: Upside in Minute {v}. DETAILS: Looking for a bottom in wave {iv} in place to then continue higher. Equality of {v} vs. {i} stands at 108$. TJX Elliott Wave Analysis Trading Lounge 4Hr Chart The TJX Companies Inc., (TJX) 4Hr Chart TJX Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (i) of {v}. DIRECTION: Upside in wave (iii). DETAILS: Looking for a CTLP on 100$, we need to break (b) to then start thinking about longs. Our detailed Elliott Wave analysis for The TJX Companies Inc. (TJX) as of May 7, 2024, offers insightful perspectives on potential movements for both daily and 4-hour trading charts. This analysis aims to assist traders and investors in identifying strategic positions in line with the predicted trends in TJX's stock prices. * TJX Elliott Wave Technical Analysis – Daily Chart* On the daily chart, TJX is currently exhibiting an impulsive, motive wave pattern, specifically within Minute wave {v}. This wave is crucial as it suggests a continued upward momentum following the establishment of a bottom in wave {iv}. The target for equality between wave {v} and wave {i} is projected at $108, indicating significant upside potential. * TJX Elliott Wave Technical Analysis – 4Hr Chart* Zooming into the 4-hour chart, TJX is progressing through Wave (i) of Minute {v}. The focus is on the upcoming wave (iii), which is known for its typically strong upward drive. A critical price point to monitor is the $100 level, where a conclusive break above the (b) wave high will validate bullish sentiments and open the door for positioning long trades. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!

GBPJPY Elliott Wave Analysis Trading Lounge Day Chart, British Pound/Japanese Yen(GBPJPY)Day Chart GBPJPY Elliott Wave Technical Analysis FUNCTION:Counter Trend MODE:Corrective STRUCTURE: blue wave 2 POSITION: black wave A of 4 DIRECTION NEXT LOWER DEGREES blue wave 3 DETAILS: blue wave 1 of A looking completed at 191.361, now blue wave 2 of A is in play . Wave Cancel invalid level: 200.575 The GBP/JPY Elliott Wave Analysis for the Day Chart outlines the current corrective wave patterns that are shaping the movement of the British Pound against the Japanese Yen, indicating the potential for future directional changes. ### Function The function of the analysis is "Counter Trend," suggesting that the market is currently in a corrective phase that runs against the primary trend. ### Mode The mode is "Corrective," indicating that the current wave structure involves complex patterns, often seen during periods of market consolidation or trend reversal. ### Structure The structure is described as "blue wave 2" within "black wave A of 4." This suggests that the market is undergoing a correction within the context of a broader wave pattern, signaling a potential turning point before the primary trend resumes. ### Position The current position is noted as "black wave A of 4," indicating that the first wave within the correction phase has been completed. This marks a transitional phase in the overall wave structure, suggesting a possible continuation of the corrective pattern before entering the next major trend. ### Direction for the Next Lower Degrees The next lower degrees indicate "blue wave 3," pointing towards the continuation of the corrective structure. This could lead to further consolidation or a new trend direction once the current phase is completed. ### Details In the details section, the analysis suggests that "blue wave 1 of A" is completed at 191.361. This indicates that the first wave within the larger corrective structure has ended. The market is now in "blue wave 2 of A," signifying a period of consolidation or correction before transitioning to the next wave, potentially "blue wave 3." The wave cancellation or invalidation level is set at 200.575, indicating the critical point where the current wave structure could be invalidated, requiring re-evaluation of the analysis. In summary, the GBP/JPY Elliott Wave Analysis for the Day Chart points to a corrective structure with "blue wave 2" in play within "black wave A of 4." After completing "blue wave 1 of A," the market is in a consolidation phase, with the possibility of a new trend or continued correction in "blue wave 3." The wave cancellation level at 200.575 is a key point to monitor for invalidation of the current wave structure. GBPJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, British Pound/Japanese Yen(GBPJPY) 4 Hour Chart GBPJPY Elliott Wave Technical Analysis FUNCTION:Counter Trend MODE:Corrective STRUCTURE: blue wave 2 POSITION: black wave A DIRECTION NEXT LOWER DEGREES blue wave 3 DETAILS: blue wave 1 of A looking completed at 191.361, now blue wave 2 of A is in play . Wave Cancel invalid level: 200.575 The GBP/JPY Elliott Wave Analysis for the 4-Hour Chart focuses on the corrective wave patterns currently shaping the movement of the British Pound against the Japanese Yen, indicating the potential for future trends and directional changes. ### Function The function of the analysis is "Counter Trend," indicating that the market is currently in a correction phase, suggesting a deviation from the primary market trend. ### Mode The mode is "Corrective," highlighting that the current wave pattern is a complex, non-linear movement within the broader market structure. Corrective waves often indicate a pause or consolidation before the primary trend resumes. ### Structure The structure is defined as "blue wave 2" within "black wave A," signifying a corrective wave within a larger impulsive wave. This configuration suggests that the market is in the early stages of a potential trend reversal or consolidation before moving into the next phase. ### Position The current position within the wave structure is identified as "black wave A," indicating the start of a new impulsive sequence following a prior correction. This suggests that the market is transitioning into a new phase after completing a correction. ### Direction for the Next Lower Degrees The direction for the next lower degrees is set as "blue wave 3," indicating that once the current corrective wave (blue wave 2) concludes, the market is expected to enter an impulsive movement, signaling a new trend or continuation of the prior trend. ### Details In the details section, the analysis notes that "blue wave 1 of A" is looking completed at 191.361, suggesting that the initial wave within the corrective structure has concluded. Now, "blue wave 2 of A" is in play, indicating that the second wave within the corrective phase is ongoing. This phase could see a period of consolidation or correction before the trend resumes. The wave cancellation or invalidation level is set at 200.575, signifying a critical threshold. If the market exceeds this level, the current wave structure becomes invalid, requiring a re-evaluation of the wave patterns. In summary, the GBP/JPY Elliott Wave Analysis for the 4-Hour Chart indicates a corrective structure with "blue wave 2" in play within "black wave A." The analysis shows that after completing "blue wave 1 of A," the market is in a consolidation or corrective phase, with the potential for a new trend following "blue wave 3." The wave cancellation level at 200.575 is a key point to monitor for potential invalidation of the current wave structure. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

ASX: REECE LIMITED - REH Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with REECE LIMITED - REH. We have determined that wave (iv)-purple seems to have ended, and wave (v)-purple is being unfolded to push higher, towards the immediate target at around 30.00 - 31.10. ASX: REECE LIMITED - REH Elliott Wave Technical Analysis ASX: REECE LIMITED - REH 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave (v)-purple of Wave ((v))-green of Wave 3-red Details: The short-term outlook indicates that Wave (iv)-purple has ended as expected, and wave (v)-purple is being opened to push higher. It is targeting a goal of 31.10, while price sustaining above the 27.05 support level is a significant advantage for this outlook. Invalidation point: 25.87 ASX: REECE LIMITED - REH Elliott Wave Technical Analysis TradingLounge (4- Hour Chart) ASX: REECE LIMITED - REH Elliott Wave Technical Analysis ASX: REECE LIMITED - REH 4-Hour Chart Analysis Function: Major trend (Subminuette degree, blue) Mode: Motive Structure: Impulse Position: Wave iii-blue Details: The shorter-term outlook indicates that wave (iv) has concluded, and waves i and ii-blue have unfolded, and they also appear to have ended. Now is the time for wave iii-blue to unfold and push higher, aiming for an immediate target around 30.00. Maintaining a price above the support level at 27.05 is a significant advantage for this perspective. A decrease below that level indicates that wave ii-blue may extend longer than expected, and thereafter, wave iii-blue will also return to push higher. Invalidation point: 27.05 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: REECE LIMITED - REH 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 NEO/ U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave B Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level NEO/ U.S. dollar(NEOUSD)Trading Strategy: Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again. NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Elliott Wave Analysis TradingLounge H4 Chart NEO/ U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave B Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level NEO/ U.S. dollar(NEOUSD)Trading Strategy: Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again. NEO/ U.S. dollar(NEOUSD)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!

GX Uranium ETF (URA) Elliott Wave Analysis Function - Counter trend Mode - Corrective Structure - Zigzag for 4. Impulse for (A) Position - Wave 5 of (A) Direction - Wave 5 of (A) is still in play Details - The blue wave 4 triangle has been completed with confirmation above wave (B) high. Wave ‘5’ appears to have begun. Invalidation is now at wave (E) low. Price may retest toward the 30 major level before blue wave ’5’ continues. The GX URA ETF, known as the Global X Uranium ETF, is an investment fund designed to track the performance of companies involved in the uranium industry. This exchange-traded fund (ETF) offers investors exposure to a diversified portfolio of global uranium mining, exploration, and production companies. With growing interest in nuclear power as a cleaner energy source and the potential for increased demand for uranium, the GX URA ETF provides investors with an opportunity to participate in this sector's growth. After moving sideways for three months, the URA ETF is attempting an upside breakout as traders add to LONGs and exit SHORTs to extend the bullish impulse sequence that started in August 2022. The price is expected to attempt to reach a new high in 2024. From the Elliott wave perspective, we can expect the price to surpass the February 2024 high. On the attached daily chart, a clear bullish impulse wave structure emerged from 17.71 in August 2022. It completed the 3rd wave - primary wave 5 (circled in blue) in February 2024 and then moved sideways to complete a triangle structure for the corresponding 4th wave - blue wave 4. The 4th wave - blue wave 5 is now emerging and should reach a new high for the year. The H4 chart shows the sub-waves of the triangle 4th wave subdivided into five 3-waves within two contracting opposite lines. Primary degree wave 5 (circled in blue) is expected to continue higher toward 36-36. However, the price might pull back toward the 30.00 major level before the rally continues. This forecast will remain valid as long as the price remains above the 27.98 major level. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

COST Elliott Wave Analysis Trading Lounge Daily Chart Costco Wholesale Corp., (COST) Daily Chart COST Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor 5 DIRECTION: Upside in Minor 5. DETAILS: Trading Level 8 at 800$ will provide resistance, looking for a five wave move to unfold in wave 5. COST Elliott Wave Analysis Trading Lounge 4Hr Chart, Costco Wholesale Corp., (COST) 4Hr Chart COST Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {i} of 5. DIRECTION: Pullback in wave {ii} DETAILS: Looking for a pullback in wave {ii} to then continue higher and target longs. We seem to be finding support on 720$. This comprehensive Elliott Wave analysis provides a current and future perspective on Costco Wholesale Corporation (COST), focusing on the potential price movements as indicated by the Elliott Wave theory on the daily and 4-hour charts as of May 7, 2024. Investors and traders can leverage this detailed insight to optimize their market positions. * COST Elliott Wave Technical Analysis – Daily Chart* The daily chart of Costco reveals that the stock is currently in an impulsive, motive wave structure, specifically identified as Minor wave 5. This indicates an upward trend with expectations of continuing momentum. The analysis points out that the $800 price level, referred to as TradingLevel8, is expected to act as a significant resistance. In this phase, a five-wave structure within wave 5 is anticipated to unfold, suggesting sustained upward movement. * COST Elliott Wave Technical Analysis – 4H Chart* Zooming into the 4-hour chart, Costco is currently positioned in Wave {i} of Minor 5, and a pullback in Wave {ii} is expected. This pullback presents a strategic entry point for traders, with the stock finding preliminary support at the $720 level. Following this correction, a continuation higher in Wave {iii} is likely. Technical Analyst : Alessio Barretta Source : Tradinglounge.com

USD/CAD Elliott Wave Analysis Trading Lounge Day Chart, U.S.Dollar /Canadian Dollar (USD/CAD) Day Chart USD/CAD Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE:blue wave C POSITION:black wave E of triangle DIRECTION NEXT HIGHER DEGREES:red wave 5 DETAILS blue wave B of E completed at 1.37858, now blue wave C is in play . Wave Cancel invalid level:1.38457 The USD/CAD Elliott Wave Analysis for the Day Chart examines the movement of the U.S. Dollar against the Canadian Dollar using Elliott Wave theory, with a focus on the current corrective pattern and its potential implications for future trends. ### Function The function of this analysis is identified as "Counter Trend," indicating that the overall market movement is currently in a correction phase, suggesting that the broader primary trend may be in the process of reversing or pausing. ### Mode The mode is described as "Corrective," indicating that the current pattern consists of complex and layered movements typically associated with Elliott Wave's corrective waves. This mode signifies the presence of wave patterns that do not follow straightforward upward or downward trends, often indicating a pause or consolidation in the market. ### Structure The structure is characterized as a "blue wave C" within a "black wave E of triangle." This structure represents a complex pattern where a triangle formation indicates consolidation and typically leads to a breakout in the final wave, indicating potential directional movement. In this case, the analysis suggests that the market is in the final corrective wave of the triangle. ### Position The current position in the wave structure is within the "black wave E of triangle," suggesting that the market is approaching the end of a larger consolidation pattern. This position typically leads to a breakout, indicating a potential directional shift once the triangle completes. ### Direction for the Next Higher Degrees The direction for the next higher degrees is identified as "red wave 5," suggesting that once the current corrective phase within the triangle concludes, the broader trend may resume, leading to an impulsive movement in the market. ### Details The details section provides specific insights into the ongoing corrective phase. It indicates that "blue wave B of E" completed at 1.37858, suggesting that the second wave of the triangle has finished, leading to the current "blue wave C" in play. The wave cancellation or invalidation level is set at 1.38457, indicating a critical threshold above which the current pattern would be invalidated, suggesting a re-evaluation of the Elliott Wave structure. In summary, the USD/CAD Elliott Wave Analysis for the Day Chart shows a corrective pattern with a triangle structure in the "black wave E," leading to the final "blue wave C" in play. The completion of this wave may signal a broader trend change, leading to the final red wave 5. The Wave Cancel invalid level at 1.38457 indicates a critical level to watch, suggesting the possible invalidation of the current wave structure if exceeded. USD/CAD Elliott Wave Analysis Trading Lounge 4 Hour Chart, U.S.Dollar /Canadian Dollar (USD/CAD) 4 Hour Chart USD/CAD Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: impulsive STRUCTURE:red wave 2 POSITION:blue wave C DIRECTION NEXT LOWER DEGREES:red wave 3 DETAILS red wave 1 of C completed at 1.36031, now red wave 2 is in play . Wave Cancel invalid level:1.38457 The USD/CAD Elliott Wave Analysis for the 4-Hour Chart offers a technical perspective on the U.S. Dollar against the Canadian Dollar, using Elliott Wave theory to assess the market structure, current positioning, and potential future trends. ### Function The function of this analysis is identified as "Counter Trend," indicating that the broader market movement is currently in a corrective phase, potentially against a larger primary trend. This suggests that the current wave structure is temporary and is part of a broader Elliott Wave cycle. ### Mode The mode is described as "impulsive," indicating that the current corrective phase consists of clear, directional movements typically associated with an Elliott Wave pattern. This mode suggests strong moves within the corrective phase, often leading toward a key reversal point. ### Structure The structure is categorized as "red wave 2," which is part of a broader pattern that is expected to reverse the current counter trend. This structure indicates that the correction might include smaller waves within it, showing potential changes in market momentum. ### Position The position within the structure is "blue wave C," suggesting that the current pattern is in the final stage of a larger correction, typically composed of three sub-waves. The completion of this wave might indicate a potential return to a broader impulsive trend. ### Direction for the Next Lower Degrees The direction for the next lower degrees is "red wave 3," indicating that once the current corrective phase concludes, the market is expected to resume an upward trajectory as part of the impulsive pattern. ### Details The details section provides key insights into the current state of the wave pattern. It indicates that "red wave 1 of C" completed at 1.36031, suggesting the end of a sub-wave. The current focus is on "red wave 2," which is in play, potentially nearing its completion. The Wave Cancel invalid level is set at 1.38457, indicating that if the market moves above this level, the current wave structure would be invalidated, requiring a re-evaluation of the Elliott Wave pattern. In summary, the USD/CAD Elliott Wave Analysis for the 4-Hour Chart suggests that the market is currently in a corrective phase ("red wave 2") within a broader impulsive structure ("blue wave C"). The completion of "red wave 1" indicates the start of "red wave 2," which is currently in play. Once completed, the market is expected to move into "red wave 3," suggesting a potential upward trend. The Wave Cancel invalid level of 1.38457 serves as a critical point for confirming the current wave structure. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

ASX: REA GROUP LTD – REA Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with REA GROUP LTD – REA. We identified that wave 2-red may have just ended, and wave 3-red could push much higher. ASX: REA GROUP LTD – REA Elliott Wave Technical Analysis ASX: REA GROUP LTD – REA 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave (iii)-purple of Wave 3-red Details: The outlook suggests that wave 2-red has recently concluded, and wave 3-red is now unfolding to push higher. It is subdividing into waves (i) and (ii)-purple, which have ended, and wave (iii)-purple is opening up to push higher. Maintaining a price above 172.49 would be a significant advantage for this outlook. Invalidation point: 140.50 ASX: REA GROUP LTD – REA Elliott Wave Technical Analysis TradingLounge (4- Hour Chart) ASX: REA GROUP LTD – REA Elliott Wave Technical Analysis ASX: REA GROUP LTD – REA 4-Hour Chart Analysis Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave (iii)-purple Details: The shorter-term outlook suggests that wave (ii)-purple has just ended, and wave (iii)-purple may be unfolding to push higher. However, there's some uncertainty regarding whether wave (ii) has truly concluded. Therefore, it would be preferable to see the price continue to push slightly higher to clarify this perspective. Following that, I would need to observe an ABC correction to prepare for finding a trade setup with better entry and stop levels than the current ones. Invalidation point: 172.49 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: REA GROUP LTD – REA 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).

Elliott Wave Analysis TradingLounge Daily Chart Bitcoin/ U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat position: Wave ((C)) Direction Next higher Degrees: wave (III) Wave Cancel invalid level: 31046.25 Details: Wave IV may be complete and the Price increase again in Wave V. Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: Overall, Bitcoin is still in an uptrend. But it is a period of correction in the fourth wave. which appears to be complete. Therefore, it is an opportunity for us to join the trend once again. Look for opportunities to open long positions. Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Elliott Wave Analysis TradingLounge H4 Chart Bitcoin/ U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat position: Wave C Direction Next higher Degrees: wave (2) Wave Cancel invalid level: 59835.83 Details: Wave (2) is equal to 61.8% of Wave (1) at 61903.07 Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: Overall, Bitcoin is still in an uptrend. But it is a period of correction in the fourth wave. which appears to be complete. Therefore, it is an opportunity for us to join the trend once again. Look for opportunities to open long positions.. Bitcoin/ U.S. dollar(BTCUSD)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!

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: Minor 3 DIRECTION: Upside in Minor 3. DETAILS: Looking for at least equality of 3 vs. 1 as upside target, to eventually turn into an ABC in the worst of scenarios. TXN Elliott Wavse Analysis Trading Lounge 4Hr Chart, Texas Instruments Inc., (TXN) 4Hr Chart TXN Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {ii} of 3. DIRECTION: Upside in {iii}. DETAILS: Looking for acceleration in wave {iii}, with closing volume on Friday suggesting a bullish move to the upside. This detailed Elliott Wave analysis focuses on Texas Instruments Incorporated (TXN) as observed in both the daily and 4-hour charts on May 6, 2024. Our analysis aims to provide investors and traders with actionable insights into the stock’s current trends and potential future movements. *TXN Elliott Wave Technical Analysis – Daily Chart* The daily chart for TXN reveals that the stock is currently in an impulsive, motive wave pattern, identified as Minor wave 3. This suggests a strong upward trend, indicating potential for significant gains. The analysis targets at least equality between wave 3 and wave 1, pointing towards a robust upside potential. In less favorable scenarios, this movement might evolve into an ABC correction pattern, but the primary expectation remains bullish. * TXN Elliott Wave Technical Analysis – 4H Chart* Diving deeper into the 4-hour chart, TXN is positioned in Wave {ii} of Minor 3, forecasting an upcoming surge in Wave {iii}. The closing volume on the previous trading day (Friday) indicated a significant bullish sentiment, which aligns with expectations for an acceleration in Wave {iii}. This provides an excellent setup for traders looking to capitalize on the next upward move. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!

Cocoa Elliott Wave Analysis Function - Counter-trend Mode - Corrective Structure - Not yet defined Position - Blue wave ‘a’ Direction - Blue wave ‘b’ Details - Bearish impulse from the top appears to have completed the last leg. The current bounce for blue wave ‘b’ can extend toward the 10,000 key resistance. Cocoa, after reaching an all-time high, has undergone a substantial decline, marking its most significant price drop since September 2022. This descent signals a pivotal shift in market sentiment, hinting at further downward movement in the ensuing weeks. However, amidst this bearish momentum, there exists the possibility of a temporary rebound, potentially leading to a retest of the crucial 10,000 major level. In this comprehensive analysis, we aim to delve into both the long-term and medium-term trajectory of this commodity. Examining the daily chart reveals a remarkable rally of over 420% from its September 2022 low of 2198 to achieve a fresh all-time high through an evident impulse wave. Before this surge, the price exhibited sideways movement for approximately six months. Presently, the ongoing decline from the peak appears to be forming the culmination of an impulse wave on the H4 charts. Consequently, we anticipate the emergence of either a continuation of this downward impulse or, at the very least, a corrective 3-wave pullback, potentially manifesting as a flat or zigzag pattern, with the latter being the more probable scenario. On the H4 chart, the impulse from the all-time high seems to be nearing completion with wave (v). Alternatively, it's plausible that the current upward movement could be part of wave (v), suggesting that the impulse for blue wave ‘a’ may extend further downwards. Regardless, it is anticipated that following this impulse, a corrective bounce for blue wave ‘b’ will likely occur, possibly reaching the 10,000 mark or its vicinity, before the subsequent downward impulse unfolds. The intensity of the third leg of this pattern will play a decisive role in determining whether a zigzag (blue wave ‘c’) or an impulse (blue wave ’3’) materializes from the peak. Should the third leg terminate at or before the 161.8% Fibonacci extension level, particularly around the 100% mark, the likelihood of a zigzag pattern increases. Conversely, if the extension surpasses the 161.8% threshold, the probability of an impulse wave strengthens. The latter scenario portends a deeper sell-off compared to the former, indicating the potential for a more pronounced downward movement in the market. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

NZDUSD Elliott Wave Analysis Trading Lounge Day Chart, New Zealand Dollar/U.S.Dollar(NZDUSD) Day Chart NZDUSD Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE: red wave 3 POSITION: blue wave 1 DIRECTION NEXT HIGHER DEGREES: red wave 4 DETAILS red wave 2 of 1 looking completed at 0.58748, now red wave 3 of 1 is in play . Wave Cancel invalid level: 0.58748 The NZD/USD Elliott Wave Analysis for the Day Chart provides a technical examination of the New Zealand Dollar against the U.S. Dollar, focusing on Elliott Wave patterns to predict market trends and determine key levels of market movement. This analysis encompasses the function, mode, structure, position, and key details relevant to understanding the current market phase. ### Function The function is identified as "Trend," suggesting that the broader market movement is expected to continue in a general direction, likely upward, with the use of Elliott Wave theory to guide this interpretation. ### Mode The mode is described as "impulsive," indicating that the current structure is part of a larger upward momentum, typically consisting of five sub-waves. This pattern suggests that the market is currently experiencing a drive toward higher levels, with minor corrective phases along the way. ### Structure The structure is categorized as "red wave 3," signifying that this is the third wave within a broader Elliott Wave pattern. Impulsive structures, like wave 3, often represent the strongest and most directional phases of a trend. ### Position The position within the structure is "blue wave 1," indicating that the current pattern represents an initial upward thrust in the broader trend. This implies that the market has resumed its upward trajectory following the completion of "red wave 2 of 1," suggesting a continuation of the overall impulsive trend. ### Direction for the Next Higher Degrees The direction for the next higher degrees is "red wave 4," indicating that after the completion of "red wave 3," a smaller corrective phase is anticipated, followed by further upward movement. ### Details The details section highlights that "red wave 2 of 1" is either completed or very close to completion at a level of 0.58748, suggesting that the corrective phase has concluded. With "red wave 3 of 1" currently in play, the market is expected to continue its upward momentum. The Wave Cancel invalid level is set at 0.58748, indicating that a move below this level would invalidate the current wave structure, necessitating a re-evaluation of the Elliott Wave pattern. In summary, the NZD/USD Elliott Wave Analysis for the Day Chart indicates an impulsive upward trend, with "red wave 3 of 1" leading the current movement. The analysis suggests that this wave will continue its upward trajectory, with a subsequent correction in "red wave 4" before resuming its broader trend. The Wave Cancel invalid level at 0.58748 is a critical point for determining if the current trend remains valid. NZDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, New Zealand Dollar/U.S.Dollar(NZDUSD) 4 Hour Chart NZDUSD Elliott Wave Technical Analysis FUNCTION: Trend MODE: corrective STRUCTURE: black wave 2 POSITION: red wave 3 DIRECTION NEXT HIGHER DEGREES: black wave 3 DETAILS black wave 1 of 3 looking completed at 0.60486, now black wave 2 of 3 is in play . Wave Cancel invalid level: 0.58748 The NZD/USD Elliott Wave Analysis for the 4-Hour Chart provides insights into the market behavior of the New Zealand Dollar against the U.S. Dollar, using the Elliott Wave theory to identify patterns, trends, and key market levels. This summary focuses on the overall function, mode, structure, and position within the Elliott Wave cycle, while emphasizing crucial details that define the current market situation. ### Function The function of the current wave pattern is classified as "Trend," indicating that the overall market direction is part of a broader Elliott Wave sequence. This suggests that the trend is generally upward, with corrections occurring within this larger trend. ### Mode The mode is described as "corrective," indicating that the ongoing wave structure represents a period of consolidation or retracement within a broader impulsive trend. Corrective waves typically consist of three sub-waves and suggest a temporary pullback before the trend resumes. ### Structure The structure is identified as "black wave 2," indicating that the current corrective wave is part of a larger Elliott Wave pattern. This implies that the trend is undergoing a pause or consolidation phase after the completion of "black wave 1." ### Position The position within the structure is "red wave 3," suggesting that the broader trend is experiencing a corrective phase, but with an overall upward direction. This indicates that "red wave 3" has completed its initial phase, with "black wave 2" currently in play. ### Direction for the Next Higher Degrees The direction for the next higher degrees is "black wave 3," indicating that once the current corrective phase completes, the trend is expected to continue its upward momentum. ### Details The details section specifies that "black wave 1 of 3" appears to have completed at 0.60486, indicating that the initial impulsive wave of the broader trend has ended. Currently, "black wave 2 of 3" is in play, suggesting a corrective or sideways movement before the trend resumes. The Wave Cancel invalid level is set at 0.58748, indicating that if the market price drops below this level, the existing wave structure may be invalidated, suggesting a possible shift in market direction. In summary, the NZD/USD Elliott Wave Analysis for the 4-Hour Chart indicates a broader upward trend with a temporary corrective phase (black wave 2 of 3). This phase is expected to end soon, with a continuation of the impulsive trend. The Wave Cancel invalid level at 0.58748 serves as a critical threshold, guiding further analysis and adjustments to the Elliott Wave structure if breached. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

ASX: WISETECH GLOBAL LIMITED – WTC Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with WISETECH GLOBAL LIMITED – WTC. We identify that WTC is bullish with wave (v) to continue pushing higher. ASX: WISETECH GLOBAL LIMITED – WTC Elliott Wave Technical Analysis ASX: WISETECH GLOBAL LIMITED – WTC 1D Chart (Semilog Scale) Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave iii-blue of Wave (v)-purple of Wave ((iii))-green Details: The short-term outlook indicates that the (iv)-purple wave has just concluded, and the (v)-purple wave may unfold to push higher, targeting 100.60. It's crucial for the price to consistently remain above the level of 86.77 to support this perspective. Invalidation point: 86.77 ASX: WISETECH GLOBAL LIMITED – WTC Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: WISETECH GLOBAL LIMITED – WTC Elliott Wave Technical Analysis ASX: WISETECH GLOBAL LIMITED – WTC 4-Hour Chart Analysis Function: Major trend (Subminuette degree, blue) Mode: Motive Structure: Impulse Position: Wave ((1))-red of Wave iii-blue Details: The short-term outlook indicates that wave ii-blue has just ended, and wave iii-blue is now unfolding to push higher, targeting the immediate target around $100.00. It's important for the price to consistently remain above the $88.42 level to support this view. Invalidation point: 88.42 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: WISETECH GLOBAL LIMITED – WTC 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 TRON/ U.S. dollar(TRXUSD) TRXUSD 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: Details: Wave IV may be complete and the price increase again in Wave V. TRON/ U.S. dollar(TRXUSD)Trading Strategy: Overall, TRON remains in an uptrend. Moreover, it looks like the correction is over. And prices are rising again in the fifth wave. But there may be a slight pullback before increasing. So look for opportunities to join the uptrend. TRON/ U.S. dollar(TRXUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Elliott Wave Analysis TradingLounge H4 Chart TRON/ U.S. dollar(TRXUSD) TRXUSD 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: Details: Wave IV may be complete and the price increase again in Wave V TRON/ U.S. dollar(TRXUSD)Trading Strategy: Overall, TRON remains in an uptrend. Moreover, it looks like the correction is over. And prices are rising again in the fifth wave. But there may be a slight pullback before increasing. So look for opportunities to join the uptrend. TRON/ U.S. dollar(TRXUSD)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!

NASDAQ Stock market Elliott Wave analysis and trading strategies: NASDAQ 100, SP500, Bitcoin, Ethereum, Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Alphabet (GOOGL) Elliott Wave Analysis of NDX Tech Stocks: NASDAQ 100 and SP500 Wave (4) low being in place strengthens day by day and we can continue to build long positions across many markets such as Bitcoin and crypto tokens. Apple's earnings also injected strength into the tech sector, some of the stocks were quite flat such as AMZN, META, TSLA and NFLX, however they continue to create Elliott wave Impulse waves higher so we are on the right track and can expect Monday to end higher also. Video Chapters 00:00 NASDAQ 100 (NDX) SP500 (SPX) 06:02 Bitcoin, Ethereum 09:09 Apple (AAPL) 12:35 Amazon (AMZN) 13:06 NVIDIA (NVDA) 14:58 Meta Platforms (META) 15:46 Netflix (NFLX) 17:20 Alphabet (GOOGL) 19:27 Microsoft MSFT 20:18 Tesla (TSLA) 21:22 End Analyst Peter Mathers TradingLounge

Gold Elliott Wave Analysis Function - Trend Mode - Impulse Structure - Impulse wave Position -Wave 4 Direction - Wave 5 Details - Wave 5 still struggles around the Fibonacci support zone. A diagonal seems to be developing for blue wave ‘c’ of 4. Still needs a sharp break out of the diagonal for wave 5 to begin. Invalidation remains at 2245.17. Gold’s price trajectory stands as a resolute testament to bullish sentiment, with a clear resurgence in the long-term uptrend since its nadir in September 2024, bottoming out at 1616. Since this pivotal low, the precious metal has demonstrated remarkable resilience, marking a gain exceeding 40%. Yet, a correction in this bullish trajectory commenced on April 12, 2024. Noteworthy is the corrective nature of this pullback, hinting that it is merely a transient pause before the commodity recommences its ascent to new highs. Delving into the daily chart through an Elliott wave lens, the 1616 bottom signifies the completion of the supercycle degree wave (IV). The ensuing rally represents wave (V) of the same degree, unfolding in an impulse fashion. The initiation of wave III of (IV) from the October 2023 low at 1810 has progressed in a robust impulse, presently navigating the intermediate wave (3) within primary wave 3 (blue circled). Therefore, ample runway remains before the culmination of wave (V). Simplifying our analysis, attention is best directed towards the intermediate wave (3), currently undergoing a corrective phase labeled as wave 4, projected to find support within the 2315.5-2246 Fibonacci zone. Turning to the H4 chart, two potential corrective scenarios emerge: 1st Scenario The first scenario illustrates a zigzag pattern originating from the 2432 peak. Here, blue wave ‘c’ completes an ending diagonal, with confirmation of bullish momentum anticipated at 2353 for the onset of wave 4. However, this diagonal would be invalidated if prices dip below 2258.9. 2nd Scenario Conversely, the second scenario portrays a double zigzag structure unfolding from the 2432 peak, possibly extending to the 38.2-50% Fibonacci retracement range of wave 3 at 2246-2191 before wave 4 concludes and wave 5 initiates. In summation, while Gold’s price trajectory remains bullish, it currently experiences a corrective setback. A breach above 2353 would favor the first scenario, whereas a breach below 2258.8 would nullify it, ushering in the second scenario, projected to find support within the 2246-2191 zone. After wave 4, the resumption of wave 5 should propel prices to fresh highs. Technical Analyst : Sanmi Adeagbo 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: Trend MODE: corrective STRUCTURE: red wave 2 POSITION: blue wave 1 DIRECTION NEXT HIGHER DEGREES: red wave 3 DETAILS: red wave 2 is in play and looking near to end . Wave Cancel invalid level: 1.22954 The GBP/USD Elliott Wave Analysis for the Day Chart examines the British Pound against the U.S. Dollar, using Elliott Wave theory to interpret market trends, corrective phases, and wave structure. This summary focuses on the broader context, highlighting the mode, structure, position, and key levels that define the current wave pattern. ### Function The function of the ongoing pattern is classified as "Trend," indicating that the overall market direction is moving in a continuous pattern, suggesting a broader Elliott Wave cycle. ### Mode The mode is described as "corrective," indicating that the current wave structure represents a consolidation phase within a broader trend. Corrective phases typically involve three smaller waves, indicating a temporary pause or sideways movement before the trend resumes. ### Structure The structure identified is "red wave 2," suggesting that the current corrective wave is part of a broader Elliott Wave sequence. Corrective structures are typically a series of three smaller waves, often indicating a period of consolidation within a larger trend. ### Position The position within the structure is "blue wave 1," indicating that the ongoing corrective pattern is part of a larger wave sequence. This implies that the broader trend, represented by blue wave 1, is currently undergoing a consolidation phase before likely resuming its trend. ### Direction for the Next Higher Degrees The direction for the next higher degrees is "red wave 3," indicating that once the current corrective phase (red wave 2) is complete, the market is expected to resume its impulsive trend, leading to further price movement. ### Details The details section notes that "red wave 2" is currently in play and appears to be nearing its end. The Wave Cancel invalid level is set at 1.22954, suggesting that if the market price drops below this level, the current wave structure may be invalidated, indicating a potential shift in trend. In summary, the GBP/USD Elliott Wave Analysis for the Day Chart indicates that the market is in a corrective phase (red wave 2) within a broader trend (blue wave 1). This phase is likely approaching its end, with the subsequent impulsive phase (red wave 3) expected to begin soon. The Wave Cancel invalid level at 1.22954 acts as a critical threshold; if the price falls below this level, the existing wave pattern may be invalidated, necessitating a reevaluation of the broader trend and market direction. 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: red wave 2 POSITION: blue wave 1 DIRECTION NEXT HIGHER DEGREES: red wave 3 DETAILS: red wave 2 is in play and looking near to end . Wave Cancel invalid level: 1.22957 The GBP/USD Elliott Wave Analysis for the 4-Hour Chart provides a detailed examination of the British Pound against the U.S. Dollar, focusing on the Elliott Wave structure to determine the trend, mode, and current wave position. It also outlines key levels to monitor for validating or invalidating the ongoing wave pattern. ### Function The function of the current market pattern is identified as "Trend," indicating that the general direction of the market is following a continuous movement, suggesting that the structure represents a larger wave cycle within the Elliott Wave framework. ### Mode The mode is "Corrective," indicating that the structure in play represents a correction within a larger trend, often characterized by sideways or counter-trend movements. This correction phase typically follows impulsive waves, allowing the market to consolidate before resuming its broader trend. ### Structure The structure highlighted is "red wave 2," suggesting that the current wave pattern is in a corrective phase of the broader trend. Corrective structures often involve three sub-waves, indicating a pause or consolidation before a return to the trend. ### Position The position within the structure is "blue wave 1," indicating that the current corrective pattern (red wave 2) is part of a larger wave cycle. This suggests that the broader trend, represented by blue wave 1, is experiencing a temporary consolidation phase. ### Direction for the Next Higher Degrees The direction for the next higher degrees is "red wave 3," indicating that once the corrective phase completes, the market is expected to resume its impulsive trend, likely leading to further upward movement. ### Details The details section notes that "red wave 2" is in play, indicating that the corrective phase is ongoing and appears to be approaching its end. The Wave Cancel invalid level is set at 1.22954, suggesting that if the market price falls below this level, the current wave structure may be invalidated, signaling a potential shift in trend. In summary, the GBP/USD Elliott Wave Analysis for the 4-Hour Chart suggests that the market is currently in a corrective phase (red wave 2) within a broader trend (blue wave 1). The corrective structure appears to be approaching its conclusion, with the next impulsive phase (red wave 3) expected to start soon. The Wave Cancel invalid level at 1.22957 serves as a crucial benchmark, indicating that if the price drops below this level, the corrective structure may be invalidated, requiring a reassessment of the wave pattern and the broader market trend. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

ASX: BLOCK INC. - SQ2 Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with BLOCK INC. - SQ2. We confirm a trading opportunity when wave ii-blue is unfolded to push lower, then the focus will be on the push higher with wave iii-blue. ASX: BLOCK INC. - SQ2 Elliott Wave Technical Analysis ASX: BLOCK INC. - SQ2 1D Chart (Semilog Scale) Analysis Function: Major trend (Intermediate degree, blue) Mode: Motive Structure: Impulse Position: Wave 3-red of Wave (3)-blue Details: The short-term outlook suggests that wave 2-red appears to have ended, and wave 3-red is being opened to push higher. Increasing above the level of 122.67 would renews and significantly increases confidence in this outlook. Invalidation point: 103.84 Elliott Wave Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation) ASX: BLOCK INC. - SQ2 Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: BLOCK INC. - SQ2 Elliott Wave Technical Analysis ASX: BLOCK INC. - SQ2 4-Hour Chart Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave i-blue Details: The further short-term outlook suggests that wave 2-red has completed in the form of a Double Zigzag, and wave 3-red is returning to push higher. Currently, it is subdividing into wave i-blue, and this wave i appears to be nearing completion, allowing wave ii-blue to unfold lower. Subsequently, wave iii-blue will likely return to push significantly higher. We will continue to monitor SQ2 closely and look for trade setups when wave ii unfolds. Invalidation point: 103.84 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: BLOCK INC. - SQ2 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 ((E)) 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. 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 ((E)) 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. 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!