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S&P/ASX 200 Elliott Wave Analysis Trading Lounge Day Chart,
S&P/ASX 200 Elliott Wave Technical Analysis
FUNCTION: Trend
MODE:impulsive
STRUCTURE:black wave 5
POSITION: red wave 1
DIRECTION NEXT LOWER DEGREES: red wave 2
DETAILS:black wave 4 looking completed.Now black wave 5 of 1 is in play.
Wave Cancel invalid level: 7495.3
The S&P/ASX 200 Elliott Wave analysis on the daily chart focuses on identifying and following the market trend. The analysis highlights an impulsive mode, indicating that the market is currently in a strong directional movement. Impulsive waves are characterized by five-wave structures that move in the direction of the larger trend.
The current structure under examination is black wave five, suggesting that the market is in the fifth and final wave of an impulsive sequence. The position within this structure is identified as red wave one, indicating the beginning phase of a new wave cycle within the larger trend.
The analysis further outlines the direction for the next lower degrees as red wave two. This implies that after the completion of the current impulsive phase (black wave five), the market is expected to enter a corrective phase, typically a three-wave structure, retracing part of the impulsive move.
Detailed examination indicates that black wave four appears to be completed. Consequently, the market is now engaged in black wave five of red wave one. This final wave of the impulsive sequence suggests a continuation of the current trend until the wave completes.
An important aspect of the analysis is the wave cancel invalid level, set at 7491.6. If the market surpasses this level, the current wave count would be invalidated, requiring a reassessment of the wave structure and potentially indicating a change in market behavior.
In summary, the S&P/ASX 200 Elliott Wave analysis on the daily chart identifies a trending and impulsive market phase within black wave five. Currently, the market is in the initial stages of red wave one, with expectations of transitioning to red wave two following the completion of the current wave. The analysis provides a crucial invalidation level to monitor, guiding traders on potential trend continuation and correction phases.
S&P/ASX 200 Elliott Wave Analysis Trading Lounge weekly Chart,S&P/ASX 200 Elliott Wave Technical AnalysisFUNCTION: TrendMODE:impulsiveSTRUCTURE:black wave 5POSITION: red wave 1DIRECTION NEXT LOWER DEGREES: red wave 2DETAILS:black wave 4 looking completed.Now black wave 5 of 1 is in play.Wave Cancel invalid level: 6748.2The S&P/ASX 200 Elliott Wave analysis on the weekly chart provides a detailed examination of the market's trend dynamics. The analysis identifies the function as following a trend, indicating that the market is currently experiencing a strong directional movement.The mode of the trend is described as impulsive, which is characterized by five-wave structures moving in the direction of the larger trend. The current wave structure being analyzed is black wave five, suggesting that the market is in the final phase of an impulsive sequence. This phase typically culminates the larger trend before a corrective phase begins.The specific position within this wave structure is identified as red wave one. This denotes the initial phase of a new wave cycle within the larger impulsive sequence. Following this, the analysis indicates the next lower degrees direction as red wave two, implying that after the completion of the current impulsive phase, the market is expected to enter a corrective phase. This phase typically involves a three-wave structure that retraces a portion of the previous impulsive move.The analysis provides detailed observations that black wave four appears to be completed. As a result, the market is currently engaged in black wave five of red wave one. This indicates that the market is in the final push of the current impulsive phase, which will likely be followed by a corrective phase.An important component of the analysis is the wave cancel invalid level, set at 6748.2. This level serves as a critical threshold. If the market exceeds this level, the current wave count would be invalidated, necessitating a reassessment of the wave structure and potentially signaling a shift in market behavior.In summary, the S&P/ASX 200 Elliott Wave analysis on the weekly chart indicates that the market is in the final phase of an impulsive trend, specifically black wave five. Currently, the market is in the early stages of red wave one, with an expectation of transitioning to red wavetwo after the completion of the current wave. The analysis highlights a key invalidation level to monitor, guiding traders on potential trend continuation and corrective phases..thumb.png.ea4d7933fc62d014e0fcae5ddd38345d.png)
Technical Analyst : Malik AwaisSource : Tradinglounge.com get trial here! -
Cocoa Elliott Wave AnalysisFunction - Counter-trendMode - CorrectiveStructure - Not yet definedPosition - Blue wave ‘a’Direction - Blue wave ‘a’ is still in playDetails - The wave count has been adjusted. Blue wave ‘a’ is in sub-wave (v) that could extend lower. Afterward, the price could still return upside to correct blue wave ‘a’. Same as the previous update.Since April 22nd, cocoa prices have been retracing their long-term bullish trend, shedding over 35% from their recent peak. According to the Elliott wave theory, further declines are expected, and we will explore this bearish outlook in detail.Daily Chart AnalysisOn the daily chart, cocoa completed an extended bullish impulse wave from the September 2022 low of 2198. This impulse wave culminated in an all-time high of 11732, marking the end of a significant upward movement. From this high, we anticipate at least a three-wave corrective decline (A-B-C pattern), if not a full five-wave impulse decline.Currently, the first leg of this corrective phase, labeled as blue wave 'a', is nearing the end of its impulse phase. This suggests that after wave 'a' concludes, a corrective blue wave 'b' will likely follow, providing a temporary upward movement. However, the overall structure points to a further decline once wave 'b' completes, leading into the downward blue wave 'c'.
H4 Chart AnalysisOn the H4 chart, the detailed structure of blue wave 'a' is more evident. The price is currently in wave (v) of blue wave 'a', indicating the final stage of the initial impulse decline from the 11732 high. Wave (v) signifies the last leg of this downward movement, and we anticipate further extensions lower towards the 6175-4362 range before a significant bullish correction takes place.The range of 6175-4362 is critical as it represents potential support levels where the market might find temporary respite before resuming its downward trajectory. A bullish correction against the 11732 high is expected following this decline, but it will likely be short-lived within the broader bearish context..thumb.png.66537d5e409a8ed029f80d12f2daf825.png)
OutlookGiven this outlook, unless cocoa prices rally sharply and surpass the 11732 high, the near-term outlook remains bearish. For short-term and swing traders, the recommended strategy is to sell on bounces. This approach capitalizes on minor upward corrections within the larger downtrend, allowing traders to position themselves advantageously as the market continues its descent.In conclusion, the Elliott wave analysis indicates that cocoa prices are set for further declines. The immediate focus should be on the completion of wave (v) of blue wave 'a' and the subsequent correction in blue wave 'b'. Traders should remain cautious and look for selling opportunities on upward retracements to maximize their potential gains during this bearish phase.Technical Analyst : Sanmi AdeagboSource : Tradinglounge.com get trial here! -
TXN Elliott Wave Analysis Trading Lounge Daily Chart,Texas Instruments Inc., (TXN) Daily ChartTXN Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minute {iii} or 3.DIRECTION: Upside in {iii}.DETAILS: Moving as expected, looking for at least equality of 3 vs 1, as we could turn into an ABC and many times equality of C vs. A is a common target.TXN Elliott Wave Analysis Trading Lounge 4Hr Chart,Texas Instruments Inc., (TXN) 4Hr ChartTXN Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minute (iii) of {iii}.DIRECTION: Upside in {iii}.DETAILS: Looking for upside into wave (v) of {iii}, we seem to be at equality of {iii] vs. {i}, looking for equality to turn into support.
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Discover the latest Elliott Wave analysis for Texas Instruments (TXN) as of May 17, 2024. Learn about key support and resistance levels, and potential price targets for TXN stock.* TXN Elliott Wave Technical Analysis – Daily Chart*Texas Instruments (TXN) is moving as expected within the impulsive wave structure. We are looking for at least equality of wave 3 vs. wave 1. This movement could potentially turn into an ABC pattern, as equality of wave C vs. wave A is a common target in corrective waves.*TXN Elliott Wave Technical Analysis – 4Hr Chart*In the 4-hour chart, TXN is progressing within wave (v) of {iii}. Currently, the stock is at the equality level of wave {iii} vs. wave {i}. We are looking for this equality to turn into a support level, which would further confirm the bullish trend.Technical Analyst : Alessio BarrettaSource : Tradinglounge.com get trial here! -
USDJPY Elliott Wave Analysis Trading Lounge Day Chart,U.S.Dollar/Japanese Yen(USDJPY) Day ChartUSDJPY Elliott Wave Technical AnalysisFUNCTION: TrendMODE: correctiveSTRUCTURE:red wave 2POSITION:blue wave 1DIRECTION NEXT LOWER DEGREES: red wave 3DETAILS red wave 2 of blue wave 1 still is in play and looking near to end . Wave Cancel invalid level: 160.197USD/JPY Elliott Wave Analysis Trading Lounge Day ChartFunction:The USD/JPY market movement on the daily chart is categorized as a "Trend." This indicates that the analysis focuses on identifying the pattern and direction of the prevailing market trend.Mode:The mode is described as "corrective." In Elliott Wave terminology, this means the market is currently undergoing a correction phase rather than a continuation of an impulsive move. Corrective waves typically move against the primary trend direction and are usually composed of three sub-waves: A, B, and C.Structure:The structure being analyzed is "red wave 2." This suggests that the current movement is part of the second wave of correction in the larger trend cycle. Corrective waves like red wave 2 often retrace a portion of the initial impulsive wave.Position:The market is currently in "blue wave 1," implying that the corrective red wave 2 is occurring within the initial phase of a new wave cycle. Blue wave 1 marks the start of a new degree of trend, which encompasses the corrective red wave 2.Direction for Next Lower Degrees:The next anticipated movement is "red wave 3." This is expected to be an impulsive wave following the completion of the corrective red wave 2, signaling a potential resumption of the primary trend direction.Details:Wave Progress: The analysis notes that "red wave 2 of blue wave 1" is still in progress but appears to be nearing its end. This suggests that the market is about to transition into red wave 3, which would indicate a continuation of the trend.-Invalidation Level: The wave cancellation or invalidation level is identified at 160.197. If the market moves beyond this level, the current wave count would be invalidated, necessitating a reevaluation of the wave structure and potentially indicating a shift in market dynamics.SummaryThe USD/JPY Elliott Wave analysis on the daily chart indicates that the market is currently in a corrective trend phase, specifically within red wave 2 of blue wave 1. As red wave 2 approaches its end, the market is expected to transition into red wave 3, marking a resumption of the primary trend direction. The analysis highlights an invalidation level at 160.197, which, if breached, would negate the current wave count and suggest a need to reassess the market's wave structure. This analysis provides traders with insights into the ongoing corrective phase and critical points for potential trend continuation.
USDJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart,U.S.Dollar/Japanese Yen(USDJPY) 4 Hour ChartUSDJPY Elliott Wave Technical AnalysisFUNCTION: TrendMODE: correctiveSTRUCTURE:red wave 2POSITION:blue wave 1DIRECTION NEXT LOWER DEGREES: red wave 3DETAILS red wave 2 of blue wave 1 still is in play and looking near to end . Wave Cancel invalid level: 160.197USD/JPY Elliott Wave Analysis Trading Lounge 4 Hour ChartFunction:The current analysis identifies the USD/JPY market movement on the 4-hour chart as a "Trend." This suggests that the wave pattern being observed is moving in the same direction as the prevailing market trend.Mode:The mode is "corrective," indicating that the market is undergoing a correction phase rather than an impulsive move. In Elliott Wave theory, corrective waves move against the primary trend and typically consist of three sub-waves (A, B, and C).Structure:The structure under examination is "red wave 2." This wave is part of the corrective phase within the larger trend and is typically a retracement of the initial impulsive wave.Position:The market is currently in "blue wave 1." This implies that the corrective red wave 2 is occurring within the first wave of a new degree, the blue wave 1.Direction for Next Lower Degrees:The next anticipated movement is "red wave 3." This would be an impulsive wave following the completion of the corrective red wave 2, indicating a resumption of the primary trend direction.Details:Wave Completion: The analysis notes that "red wave 2 of blue wave 1" is still in play but appears to be nearing its end. This signals an impending transition to red wave 3, where the market is expected to resume its trend direction.Invalidation Level: The wave cancellation or invalidation level is set at 160.197. If the market exceeds this level, the current wave count will be invalidated, suggesting a need to reassess the wave structure and possibly indicating a shift in market dynamics.SummaryThe USD/JPY Elliott Wave analysis on the 4-hour chart indicates that the market is currently experiencing a corrective trend within red wave 2. This wave is part of a broader structure within blue wave 1. As red wave 2 approaches its completion, the market is expected to transition into red wave 3, signaling a resumption of the primary trend. The analysis highlights an invalidation level at 160.197, where exceeding this level would negate the current wave count and suggest a potential reevaluation of the market dynamics. This wave analysis provides traders with insights into the ongoing corrective phase and critical points for potential trend continuation..thumb.png.f76585d7ce48830a05095a096b4de443.png)
Technical Analyst : Malik AwaisSource : Tradinglounge.com get trial here! -
ASX: FORTESCUE LTD – FMG Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with FORTESCUE LTD - FMG. We've identified that wave ((ii)) in green has recently bottomed out, and wave ((iii)) in green is now unfolding to push significantly higher.ASX: FORTESCUE LTD - FMG Elliott Wave Technical AnalysisASX: FORTESCUE LTD - FMG 1D Chart (Semi Log Scale) AnalysisFunction: Major trend (Minute degree, green)
Mode: Motive
Structure: Impulse
Position: Wave iii-blue of Wave (iii)-purple of Wave ((iii))-green
Details: The short-term outlook shows that wave i,ii-blue has just ended, and wave iii-blue is opened to push even higher. The previously updated position in Stock Check was profitable.
Invalidation point: 24.04.thumb.png.6a386bb371e48e71316bb3e2899a405f.png)
ASX: FORTESCUE LTD - FMG Elliott Wave Technical AnalysisASX: FORTESCUE LTD - FMG 4-Hour Chart AnalysisFunction: Major trend (Minuette degree, purple)
Mode: Motive
Structure: Impulse
Position: Wave iii-blue of Wave (iii)-purple
Details: The shorter-term outlook shows that wave i-blue has just ended, and wave ii-blue seems to have completed. Wave iii-blue may now unfold to push higher.
Invalidation point: 25.82
Conclusion:Our analysis, forecast of contextual trends, and short-term outlook for ASX: FORTESCUE LTD - FMG 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.
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Technical Analyst : Kittiampon Somboonsod
Source : Tradinglounge.com get trial here!
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Gold Elliott Wave Analysis
Function - Trend
Mode - Impulse
Structure - Impulse wave
Position -Wave 5
Direction - Wave 5 is still in progress
Details - Impulse breakout for wave 5 progresses. Upside is still favored. Same interpretation as the previous one.
The invalidation level is below 2276.After three weeks of correcting its long-term bullish cycle, the metal is now resuming its upward trend. Unless a sharp decline occurs, the potential for further rallies remains strong. This blog post examines the entire bullish cycle from October 2023 and the current price position within the Elliott wave framework of the impulse rally.
On the daily chart, the renewed strength began in October 2023 when the 12% decline from May 2023 ended at 1810.5. This bullish move can be traced back to the September 2022 low of 1616.9, where the 4th wave of a supercycle degree impulse, which started in late 2015, concluded. Therefore, the bullish progress since 1616.9 is part of wave (V) of the supercycle degree. According to Elliott wave principles, this signifies a powerful and extended move, as supercycle waves typically encompass large and sustained price changes.
The daily chart indicates that the price is in wave III of (V), which hasn't yet completed its 3rd sub-wave of the primary degree in blue. Wave III is typically the most dynamic and extended phase of an impulse wave, often characterized by strong price movements and high momentum. Within this context, the bullish potential for Gold is substantial and suggests an extended upward trajectory that could last for several years.
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Currently, Gold is in wave 5 of (3) of the blue '3'. This final wave 5 of (3) is crucial as it will complete the larger wave III structure before a more significant correction occurs. Based on wave analysis, wave 5 has not yet ended and could extend to the 2463-2500 range or even higher in the coming weeks. This projection aligns with the typical behavior of wave 5, which often stretches to new highs, fueled by the final burst of investor enthusiasm.
On the H4 chart, we observe that wave 4 ended with a classic zigzag structure, a common corrective pattern that sets the stage for the next impulse wave. Following this, wave 5 has begun to emerge, indicating a resumption of the bullish trend. The price is currently in the minute degree (circled in blue) wave iii of 5. As long as the price remains above 2276, the impulse for wave 5 is expected to continue its ascent in the near term.
In summary, the Elliott wave analysis points to a strong bullish outlook for the metal, with significant upward potential remaining. Traders should watch for further gains and consider buying on dips, as the long-term trend supports continued appreciation.
Technical Analyst : Sanmi Adeagbo
Source : Tradinglounge.com get trial here! -
NVDA Elliott Wave Analysis Trading Lounge Daily Chart,Nvidia Corp., (NVDA) Daily ChartNVDA Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minute {v}.DIRECTION: Upside in wave (iii).DETAILS: Equality of {v} vs. {i} stands at 972$, looking for resistance on top of TL1 at 1000$.
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NVDA Elliott Wave Analysis Trading Lounge 4Hr Chart,Nvidia Corp., (NVDA) 4Hr ChartNVDA Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave v of (iii).DIRECTION: Upside in wave v.DETAILS: We are close to equality of (iii) vs. (i), 1.618 (iii) vs. (i) stands at 1050$.
Dive into our latest Elliott Wave analysis for NVIDIA (NVDA) Discover key price targets and potential resistance levels in our detailed NVDA stock forecast. Explore how wave patterns suggest significant movements ahead.* NVDA Elliott Wave Technical Analysis – Daily Chart*According to the latest daily chart insights, NVIDIA is currently in Minute wave {v} of a larger wave (iii). This suggests a continuation of the upward momentum in the stock's price. Notably, the equality of wave {v} with wave {i} is projected at $972, indicating where the next significant resistance could form. Additionally, traders should be vigilant as we approach the $1000 mark, coinciding with resistance at Trading Level 1 (TL1).* NVDA Elliott Wave Technical Analysis – 4Hr Chart*The 4-hour chart refines our understanding, showing NVIDIA in the fifth wave of wave (iii). This segment of the analysis reveals a more immediate bullish.Technical Analyst : Alessio BarrettaSource : Tradinglounge.com get trial here! -
CAC 40 (France) Elliott Wave Analysis Trading Lounge Day Chart,CAC 40 (France) Elliott Wave Technical AnalysisFUNCTION: TrendMODE:impulsiveSTRUCTURE:black wave 5POSITION: red wave 1DIRECTION NEXT LOWER DEGREES: red wave 2DETAILS:black wave 4 looking completed at 7905.49 .Now black wave 5 of 1 is in play . Wave Cancel invalid level: 6774.45CAC 40 (France) Elliott Wave Analysis Trading Lounge Day ChartFunction:The analysis identifies the current movement of the CAC 40 on the daily chart as part of a "Trend." This suggests that the waves being analyzed are in line with the prevailing market direction.Mode:The mode of the current market activity is "impulsive." In Elliott Wave theory, impulsive waves move in the direction of the trend and typically consist of five sub-waves (1, 2, 3, 4, and 5). These waves indicate strong market momentum in the trend's direction.Structure:The structure under examination is "black wave 5." This wave is part of the larger trend and is typically the final wave in the five-wave impulsive sequence, indicating the culmination of the trend's current phase.Position:The market is currently in "red wave 1," which is the first sub-wave of the larger black wave 5. This wave marks the beginning of a new impulsive sequence within the broader trend.Direction for Next Lower Degrees:The next anticipated movement is "red wave 2." In Elliott Wave terms, red wave 2 is expected to be a corrective wave that temporarily moves against the direction of red wave 1 before the trend resumes with red wave 3.Details:Wave Completion: The analysis notes that "black wave 4" appears to be completed at the level of 7905.49. The completion of black wave 4 sets the stage for the final black wave 5.Current Wave in Play: The market is currently experiencing "black wave 5 of 1." This indicates that the first sub-wave (red wave 1) of the final black wave 5 is now active.Invalidation Level: The wave cancellation or invalidation level is set at 6774.45. If the market drops below this level, the current wave count will be invalidated, suggesting a possible reevaluation of the wave structure.SummaryThe CAC 40 Elliott Wave analysis on the daily chart indicates the index is in the final stages of a significant trend phase, specifically within black wave 5. The market has completed black wave 4 at 7905.49 and is now in the initial stages of black wave 5, marked by the formation of red wave 1. Following red wave 1, a corrective red wave 2 is expected to play out. The analysis sets an invalidation level at 6774.45, where falling below this level would negate the current wave count and imply a potential shift in the market dynamics. This detailed wave structure provides traders with insights into the trend's continuation and critical reversal points to monitor.
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CAC 40 (France) Elliott Wave Analysis Trading Lounge Weekly Chart,CAC 40 (France) Elliott Wave Technical AnalysisFUNCTION: TrendMODE:impulsiveSTRUCTURE: red wavePOSITION: blue wave 3DIRECTION NEXT LOWER DEGREES: red wave 2DETAILS:red wave 1 is in play and looking near to end . Wave Cancel invalid level: 6774.45CAC 40 (France) Elliott Wave Analysis Trading Lounge Weekly ChartFunction:The analysis identifies the current movement of the CAC 40 on the weekly chart as part of a "Trend." This indicates that the waves being analyzed are moving in the direction of the prevailing market trend.Mode:The mode of the current market activity is "impulsive." In Elliott Wave theory, impulsive waves are strong movements in the direction of the trend and typically consist of five sub-waves (1, 2, 3, 4, and 5). These waves signal robust market momentum aligned with the trend's direction.Structure:The structure under examination is "red wave 1." This wave is the initial wave in the impulsive sequence, setting the foundation for the larger trend movement.Position:The market is currently in "blue wave 3." This implies that within the broader impulsive structure, the market is experiencing the third wave of the blue degree, which is typically the strongest and most extended wave in the Elliott Wave sequence.Direction for Next Lower Degrees:The next anticipated movement is "red wave 2." In Elliott Wave terms, red wave 2 is expected to be a corrective wave that temporarily moves against the direction of red wave 1 before the trend resumes with red wave 3.Details:Wave Completion:The analysis notes that "red wave 1" is currently in play and appears to be nearing its end. This completion is crucial as it signals the transition to red wave 2, a corrective phase.nvalidation Level: The wave cancellation or invalidation level is set at 6774.45. If the market falls below this level, the current wave count will be invalidated, suggesting a need to reassess the wave structure and potentially indicating a shift in market dynamics.SummaryThe CAC 40 Elliott Wave analysis on the weekly chart indicates that the index is currently experiencing an impulsive trend, specifically within red wave 1. This wave is part of a larger impulsive structure, positioned within blue wave 3, which typically represents strong market momentum. As red wave 1 nears its completion, the market is expected to transition into red wave 2, a corrective phase that temporarily moves against the trend. The analysis sets an invalidation level at 6774.45, where a drop below this level would negate the current wave count and imply a potential reevaluation of the market dynamics. This detailed wave structure provides traders with valuable insights into the trend's continuation and critical points for potential reversals.
Technical Analyst : Malik AwaisSource : Tradinglounge.com get trial here! -
USD/CAD Elliott Wave Analysis Trading Lounge Day Chart,U.S.Dollar /Canadian Dollar (USD/CAD) Day ChartUSD/CAD Elliott Wave Technical AnalysisFUNCTION: Counter TrendMODE: CorrectiveSTRUCTURE:blue wave CPOSITION:black wave E of triangleDIRECTION NEXT HIGHER DEGREES:red wave 5DETAILS blue wave B of E completed, now blue wave C is in play . Wave Cancel invalid level:1.37634USD/CAD Elliott Wave Analysis Trading Lounge Day ChartFunction:The analysis of the USD/CAD on the daily chart identifies the current movement as a "Counter Trend." This indicates that the waves being studied are acting against the primary trend, suggesting a corrective phase.Mode:The mode of the current market activity is "Corrective." In Elliott Wave theory, corrective waves move against the prevailing trend and typically consist of three sub-waves (A, B, and C), indicating a temporary pause or reversal before the trend resumes.Structure:The structure under examination is "blue wave C." This wave is part of a larger corrective pattern and usually completes the correction phase, leading to the resumption of the primary trend.Position:The position of the market is identified as "black wave E of triangle." In Elliott Wave terms, a triangle is a corrective pattern made up of five waves (A, B, C, D, and E). The current position suggests the market is in the final wave (E) of this triangle, indicating the end of the correction is near.Direction for Next Higher Degrees:The analysis points to "red wave 5" as the direction for the next higher degrees. This implies that after the completion of the current corrective wave (blue wave C), the market is expected to resume the larger trend with a strong impulsive move (red wave 5).Details:Wave Completion: The analysis notes that "blue wave B of E" has completed. This completion signifies the end of a sub-wave within the larger triangle pattern, setting the stage for the final wave.Current Wave in Play: The market is now experiencing "blue wave C," which is the final wave in the corrective triangle pattern.Invalidation Level:The wave cancellation or invalidation level is set at 1.37634. If the market exceeds this level, the current wave count will be invalidated, indicating a possible change in the wave structure.SummaryThe USD/CAD Elliott Wave analysis on the daily chart suggests the pair is in a counter-trend corrective phase, specifically within a triangle pattern. After completing "blue wave B of E," the market has entered "blue wave C," indicating the final stage of the correction. Traders should watch the invalidation level at 1.37634, as surpassing this level would negate the current wave count and signal a potential shift in market dynamics. Following the completion of "blue wave C," the analysis anticipates the resumption of the primary trend with the onset of "red wave 5." This detailed wave structure provides crucial insights for anticipating market movements and potential reversal points.
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USD/CAD Elliott Wave Analysis Trading Lounge 4 Hour Chart,U.S.Dollar /Canadian Dollar (USD/CAD) 4 Hour ChartUSD/CAD Elliott Wave Technical AnalysisFUNCTION: Counter TrendMODE: impulsiveSTRUCTURE:red wave 3POSITION:blue wave CDIRECTION NEXT HIGHER DEGREES:red wave 4DETAILS red wave 2 of C completed at 1.37634, now red wave 3 is in play . Wave Cancel invalid level:1.37634USD/CAD Elliott Wave Analysis Trading Lounge 4 Hour ChartFunction:The primary function identified for the USD/CAD pair on the 4-hour chart is "Counter Trend." This indicates that the current wave movements are acting against the prevailing larger trend, suggesting a potential short-term reversal or correction.Mode:The mode of the current market movement is "impulsive." In Elliott Wave theory, impulsive waves move strongly in the direction of the trend and consist of five sub-waves. This suggests robust and decisive market action in the counter-trend direction.Structure:The structure currently being analyzed is "red wave 3." This wave is typically the most powerful and extended wave within an impulsive sequence, indicating significant price movement in the direction of the counter-trend.Position:The specific position within the wave sequence is identified as "blue wave C." This placement indicates that the market is within the C wave of a corrective pattern, often characterized by strong movements as it completes the correction phase.Direction for Next Higher Degrees:The analysis points to the next higher degrees as "red wave 4." This implies that after the completion of the current impulsive wave (red wave 3), the market is expected to enter a corrective phase, pulling back before potentially resuming the larger trend.Details:Wave Completion: The analysis notes that "red wave 2 of C" has completed at the level of 1.37634. This completion marks the end of a corrective wave and sets the stage for the beginning of the impulsive wave.Current Wave in Play : The market is now experiencing "red wave 3," indicating strong price movement in the counter-trend direction.Invalidation Level: The wave cancellation or invalidation level is set at 1.37634. If the market falls below this level, the current wave count will be invalidated, signaling a potential change in the market structure.SummaryThe USD/CAD Elliott Wave analysis on the 4-hour chart suggests that the pair is currently experiencing a counter-trend movement. After completing "red wave 2 of C" at 1.37634, the market has entered "red wave 3," characterized by strong, impulsive movements. Traders should note the invalidation level at 1.37634, as a breach of this level would negate the current wave count and indicate a potential shift in market dynamics. This analysis is crucial for understanding short-term corrective actions within the broader market trend for the USD/CAD pair.
Technical Analyst : Malik AwaisSource : 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 AnalysisASX: ASX LIMITED - ASX 1D Chart (Semilog Scale) AnalysisFunction: Major (Minor degree, red)
Mode: Motive
Structure: Impulse
Position: Wave (iii)-purple of 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.thumb.png.7c5ca125b6d435193f20c1f4e5b2a614.png)
ASX: ASX LIMITED - ASX Elliott Wave Technical Analysis TradingLounge (4-
Hour Chart)ASX: ASX LIMITED - ASX Elliott Wave Technical AnalysisASX: ASX LIMITED - ASX 4-Hour Chart AnalysisFunction: Major trend (Minuette degree, purple)Mode: MotiveStructure: ImpulsePosition: Wave ((1))-red of Wave (iii)-purpleDetails: The short-term outlook suggests that waves (i) and (ii)-purple have just completed, and wave (iii)-purple appears to be unfolding to push higher. Current price action indicates that wave ((1))-red is nearing completion, followed by wave ((2))-red opening up, retracing slightly lower, and then wave ((3))-red may be ready to resume its trajectory.Invalidation point: 62.66
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! -
Elliott Wave Analysis TradingLounge Daily Chart,
VeChain/ U.S. dollar(VETUSD)
VETUSD 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: 0.2100
Details: Wave II May is complete and the price increase again in Wave III
VeChain/ U.S. dollar(VETUSD)Trading Strategy:
The correction in Wave II appears to be complete at the 0.032 level and the price is resuming the upward trend. Therefore, looking for Opportunity to join the uptrend You may have to wait for confirmation. After the price rose above 0.0386
VeChain/ U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bullish Momentum.
.thumb.png.4d8586163703b96575d2fddd82273f33.png)
Elliott Wave Analysis TradingLounge H4 Chart,
VeChain/ U.S. dollar(VETUSD)
VETUSD 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: 0.2100
Details: Wave II May is complete and the price increase again in Wave III
VeChain/ U.S. dollar(VETUSD)Trading Strategy:
The correction in Wave II appears to be complete at the 0.032 level and the price is resuming the upward trend. Therefore, looking for Opportunity to join the uptrend You may have to wait for confirmation. After the price rose above 0.0386
VeChain/ U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bullish Momentum.
Technical Analyst : Kittiampon Somboonsod
Source : Tradinglounge.com get trial here!
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Elliott Wave Analysis TradingLounge Daily Chart,
VeChain/ U.S. dollar(VETUSD)
VETUSD 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: 0.2100
Details: Wave II May is complete and the price increase again in Wave III
VeChain/ U.S. dollar(VETUSD)Trading Strategy:
The correction in Wave II appears to be complete at the 0.032 level and the price is resuming the upward trend. Therefore, looking for Opportunity to join the uptrend You may have to wait for confirmation. After the price rose above 0.0386
VeChain/ U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bullish Momentum.
Elliott Wave Analysis TradingLounge H4 Chart,
VeChain/ U.S. dollar(VETUSD)
VETUSD 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: 0.2100
Details: Wave II May is complete and the price increase again in Wave III
VeChain/ U.S. dollar(VETUSD)Trading Strategy:
The correction in Wave II appears to be complete at the 0.032 level and the price is resuming the upward trend. Therefore, looking for Opportunity to join the uptrend You may have to wait for confirmation. After the price rose above 0.0386
VeChain/ U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bullish Momentum.
Technical Analyst : Kittiampon Somboonsod
Source : Tradinglounge.com get trial here!
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Today's Stock Market Overview: S&P 500, SPY, NASDAQ 100, QQQ, RUSSELL 2000, DAX 40, FTSE 100, ASX 200. Featuring Elliott Wave Technical Analysis
Elliott Wave Analysis Indices: Elliott Wave Analysis Indices: SP 500 & NASDAQ Wave v of (v) of iii) of 1 of (5) of 3) of I. Today I will bring this count into the QQQ, SPY, DAX, FTSE and ASX200. Today I look at the bigger picture and of course the intraday wave counts. In nutshell markets are bullish into Elliott Wave iii) of 1. This means the move up will probably correct in the next session based on the Employment figures producing Wave iv), with a bullish move higher as Wave v) of 1. The trading strategy is still Risk On.
Video Chapters Big Picture
00:00 SP 500 (SPX)
03:36 NASDAQ (NDX)
04:10 DAX 40 (DAX)
05:46 FTSE 100 UKX (UK100)
06:55 S&P/ASX 200 (XJO)Video Chapters Intraday Wave counts
08:09 SP 500 (SPX) SPY
12:15 NASDAQ (NDX) QQQ
14:35 Russell 2000 (RUT) IWM
15:45 DAX 40 (DAX)
17:22 FTSE 100 UKX (UK100)
19:21 S&P/ASX 200 (XJO)
22:44 EndSource: tradinglounge
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Coffee Elliott Wave AnalysisFunction - TrendMode - ImpulseStructure - Impulse wavePosition - Blue wave ivDirection - Blue ave vDetails - We now favor an impulse decline from 245.5. The impulse should continue to the 179.7-170.15 Fibonacci zone. Invalidation above 220.
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Since April 18, 2024, Coffee prices have sharply declined, erasing gains from the bullish breakout on April 2. Earlier this year, Coffee prices remained sideways until April, when they surged over 28% to reach the April 18 peak. Now, those gains are vanishing. What's next? This blog post outlines our long- and medium-term outlooks for Coffee.On the daily chart, Coffee prices have been sideways in the long term, characterized by two complete corrective cycles. The second corrective cycle started at 141.85 in January 2023 and completed a double zigzag pattern at 245, the April 2024 high. A third cycle could now follow, forming another corrective structure. The current impulse decline from the April 2024 high may be the first leg - wave (A) of the third cycle, with this being the preferred scenario. While the medium-term outlook is bearish, the near-term focus is on the emerging impulse from the April 2024 high.On the H4 chart, the impulse from 245.5 is in the third leg - blue wave ‘iii’. Prices are currently around the 200 major level. Wave (iv) could either take a leg higher or may have already been completed. Eventually, prices should decline further for blue wave ‘iii’ and ‘v’ before wave 1 completes. Subsequently, a corrective bounce for wave 2 is anticipated, which could present a significant selling opportunity in the near term. The impulse wave development for wave 1 will be invalidated if prices rise above 245.5.Technical Analyst : Sanmi AdeagboSource : Tradinglounge.com get trial here!
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TASI Index Elliott Wave Analysis Trading Lounge Day Chart,TASI Index Elliott Wave Technical AnalysisFUNCTION: TrendMODE:correctiveSTRUCTURE:red wave 2POSITION: blue wave 3DIRECTION NEXT HIGHER DEGREES: red wave 3DETAILS:red wave 1 looking completed at 12893.725.Now red wave 2 of 3 is in play.Wave Cancel invalid level: 10223.275The TASI Index (Tadawul All Share Index) Elliott Wave analysis on the daily chart provides an insightful overview of the market's current trends and potential future movements based on Elliott Wave theory. Here's a detailed summary:### Function:The analysis identifies the primary function as "Trend," indicating that the current market movement aligns with a broader, sustained trend direction, suggesting a potential continuation of this trend.### Mode:The mode is described as "corrective," which means that the market is currently undergoing a corrective phase within the broader trend. Corrective waves typically counter the primary trend direction and are usually composed of three sub-waves (A-B-C).### Structure:The structure in focus is "red wave 2," indicating that the market is in the second wave of the corrective phase. This wave is part of a larger impulsive wave sequence and typically retraces some of the gains made during the preceding wave 1.### Position:The current position is identified as "blue wave 3," suggesting that within the larger corrective structure, the market is in the third wave of the blue wave sequence. This implies that the market has likely completed the first two waves (1 and 2) and is now progressing through the third wave.### Direction for Next Higher Degrees:The direction for the next higher degrees is "red wave 3," which indicates that after completing the current corrective wave 2, the market is expected to move into a new impulsive phase (red wave 3). This wave is anticipated to follow the completion of the corrective phase and resume the primary trend direction.### Details:The detailed analysis notes that "red wave 1" has been completed at the level of 12,893.725. Currently, "red wave 2 of 3" is in play, suggesting that the market is experiencing a retracement or correction from the previous wave's gains. The wave cancellation or invalidation level is set at 10,223.275. If the market falls below this level, the current wave count would be invalidated, indicating a possible shift in market dynamics.In summary, the TASI Index Elliott Wave analysis on the daily chart suggests that the market is currently undergoing a corrective phase (red wave 2) within a larger trend. The completion of "red wave 1" sets the stage for "red wave 2 of 3" to play out, with careful monitoring required around the invalidation level of 10,223.275. This analysis provides valuable insights for traders and investors tracking the TASI Index's price movements and potential future trends.
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TASI Index Elliott Wave Analysis Trading Lounge Weekly Chart,TASI Index Elliott Wave Technical AnalysisFUNCTION: TrendMODE:impulsiveSTRUCTURE:blue wave 3POSITION: black wave 3DIRECTION NEXT LOWER DEGREES: red wave 4DETAILS:blue wave 2 looking completed at 10223.275. Now blue wave 3 of 3 is in play . Wave Cancel invalid level: 10223.275The TASI Index (Tadawul All Share Index) Elliott Wave analysis on the weekly chart offers a comprehensive look at the market's current trends and projected movements based on Elliott Wave principles. Here is a detailed summary:### Function:The primary function identified in the analysis is "Trend," indicating that the TASI Index is currently moving in alignment with a sustained and ongoing trend, likely suggesting continued movement in the same direction.### Mode:The mode of the current market movement is described as "impulsive." Impulsive waves are a strong movement in the direction of the main trend and are characterized by five sub-waves. This mode suggests robust market activity driving the index in the trend direction.### Structure:The structure in focus is "blue wave 3," signifying that the market is in the third wave of an impulsive sequence. Wave 3 is typically the strongest and longest in a five-wave sequence, often showing significant price movement.### Position:The current position is identified as "black wave 3," indicating that within the larger structure, the market is specifically in the third wave of the black wave sequence. This means that the market is experiencing a strong, upward movement within the context of the broader trend.### Direction for Next Lower Degrees:The direction for the next lower degrees is "red wave 4," suggesting that after completing the current impulsive wave (blue wave 3), the market will enter a corrective phase (red wave 4). This phase will involve a retracement or pullback before potentially resuming the main trend.### Details:The analysis notes that "blue wave 2" appears to have completed at the level of 10,223.275. The market is now in the midst of "blue wave 3 of 3," indicating continued strong upward movement. The wave cancellation or invalidation level is set at 10,223.275. If the market falls below this level, the current wave count would be invalidated, indicating a potential change in market dynamics.In summary, the TASI Index Elliott Wave analysis on the weekly chart suggests that the index is currently in an impulsive phase (blue wave 3), with strong upward momentum. The completion of "blue wave 2" sets the stage for "blue wave 3 of 3" to continue playing out. Market participants should monitor the invalidation level of 10,223.275, as falling below this level would negate the current wave count and indicate a possible shift in the market trend. This analysis is crucial for traders and investors focusing on long-term trends in the TASI Index..thumb.png.d662c6970b622079a87f0e0a53c01817.png)
Technical Analyst : Malik AwaisSource : Tradinglounge.com get trial here! -
ADI Elliott Wave Analysis Trading Lounge Daily ChartAnalog Devices Inc., (ADI) Daily ChartADI Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minute wave {iii}.DIRECTION: Upside in Minute {iii}.DETAILS: Looking for Medium Level at 250$ to be the next strong resistance as we are trading within MG1.
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ADI Elliott Wave Analysis Trading Lounge 4Hr Chart,Analog Devices Inc., (ADI) 4Hr ChartADI Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave (iii) of {iii}.DIRECTION: Wave (iii).DETAILS: Volume suggests the bull trend is in place, looking for continuation higher..thumb.png.c6fd225f1660a19b18f9661c6d208fb1.png)
Analog Devices Inc. (ADI) is exhibiting a strong bullish trend according to the latest Elliott Wave analysis. Here’s a detailed breakdown of the current market scenario based on the daily and 4-hour charts.* ADI Elliott Wave Technical Analysis – Daily Chart*The daily chart for ADI reveals that the stock is in Minute wave {iii}, part of an impulsive move. The next significant level to watch is the Medium Level at $250, which is expected to provide strong resistance. As ADI trades within MG1, this level becomes a critical point for potential price action. Traders should be aware of this resistance zone and monitor the price behavior closely as it approaches $250.* ADI Elliott Wave Technical Analysis – 4Hr Chart*The 4-hour chart complements the daily analysis by highlighting that ADI is in wave (iii) of Minute wave {iii}. The volume analysis suggests that the bullish trend is well-supported, indicating a likely continuation higher. This wave structure confirms the impulsive nature of the current market move, reinforcing the bullish outlook.Technical Analyst : Alessio BarrettaSource : Tradinglounge.com get trial here! -
NZDUSD Elliott Wave Analysis Trading Lounge Day Chart,New Zealand Dollar/U.S.Dollar(NZDUSD) Day ChartNZDUSD Elliott Wave Technical AnalysisFUNCTION: TrendMODE: impulsiveSTRUCTURE:red wave 3POSITION: blue wave 1DIRECTION NEXT LOWER DEGREES: red wave 4DETAILS red wave 2, now red wave 3 of 1 is in play . Wave Cancel invalid level: 0.58718The daily chart analysis of the NZD/USD (New Zealand Dollar/U.S. Dollar) pair, based on Elliott Wave theory, offers a detailed examination of the ongoing price movements and future trends.### Function:The analysis identifies the function as "Trend," indicating that the current market movement is aligned with a broader trend direction, suggesting a sustained and potentially significant directional movement in the market.### Mode:The mode is described as "impulsive," signifying that the market is currently in an impulsive phase. Impulsive waves in Elliott Wave theory are characterized by strong, directional price movements, typically structured in five sub-waves, and indicate a robust trend continuation.### Structure:The structure in focus is "red wave 3," which is part of the broader impulsive wave sequence. This suggests that the NZD/USD is currently progressing through the third wave of this impulsive sequence, often the most powerful and extended wave, reflecting strong market momentum.### Position:The position is identified as "blue wave 1," indicating that within the larger impulsive wave, the market is in the initial wave of a new sequence. This highlights that the market is in the early stages of an upward impulsive phase.### Direction for Next Lower Degrees:The direction for the next lower degrees is indicated as "red wave 4," implying that after the completion of the current impulsive wave (red wave 3), a corrective wave (red wave 4) is expected to follow. This corrective wave would typically retrace some of the gains made during the impulsive phase, providing a potential buying opportunity in the context of the larger trend.### Details:The analysis provides specific details, noting that "red wave 2" has been completed. Now, "red wave 3 of 1" is in play, indicating that the market is experiencing a strong impulsive wave. The wave cancellation or invalidation level is set at 0.58718. If the price falls below this level, the current wave count would be invalidated, indicating a potential shift in market dynamics.In summary, the daily Elliott Wave analysis of the NZD/USD pair suggests that the market is currently experiencing a strong impulsive wave within a broader upward trend. The completion of "red wave 2" sets the stage for a significant upward movement in "red wave 3 of 1," with close monitoring required around the invalidation level of 0.58718. This analysis provides valuable insights for traders and analysts tracking the NZD/USD pair's price movements.
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NZDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart,New Zealand Dollar/U.S.Dollar(NZDUSD) 4 Hour ChartNZDUSD Elliott Wave Technical AnalysisFUNCTION: TrendMODE: impulsiveSTRUCTURE: black wave 3POSITION: red wave 3DIRECTION NEXT LOWER DEGREES: black wave 4DETAILS black wave 2 of 3 looking completed at 0.59800, now black wave 3 of 3 is in play . Wave Cancel invalid level: 0.59800The 4-hour chart analysis of the NZD/USD (New Zealand Dollar/U.S. Dollar) pair, based on Elliott Wave theory, provides detailed insights into the ongoing price movements and potential future trends.### Function:The analysis identifies the function as "Trend," indicating that the current market movement is aligned with a broader trend direction. This implies a sustained and potentially significant movement in a particular direction, in this case, an upward trend.### Mode:The mode is described as "impulsive," suggesting that the current wave is part of an impulsive phase. Impulsive waves are characterized by strong, directional movements that follow the trend, typically comprising five sub-waves.### Structure:The structure in focus is "black wave 3," which is a critical part of the impulsive wave sequence. This suggests that the NZD/USD is currently progressing through the third wave of an impulsive pattern, often the strongest and most extended wave in an Elliott Wave sequence.### Position:The position is identified as "red wave 3," indicating the current sub-wave within the broader "black wave 3." This highlights that the market is in the midst of the third wave of the impulsive sequence, which often exhibits strong price movements.### Direction for Next Lower Degrees:The direction for the next lower degrees is marked as "black wave 4," implying that after the completion of the current impulsive wave (black wave 3), a corrective wave (black wave 4) is expected to follow. This corrective wave would typically retrace some of the gains made during the impulsive phase.### Details:The analysis provides specific details, noting that "black wave 2 of 3" appears to have completed at the level of 0.59800. Now, "black wave 3 of 3" is in play, suggesting that the market is in the midst of a strong impulsive wave. The wave cancellation or invalidation level is set at 0.59800. If the price falls below this level, the current wave count would be invalidated, indicating a potential shift in market dynamics.In summary, the 4-hour Elliott Wave analysis of the NZD/USD pair suggests that the market is currently experiencing a strong impulsive wave within a broader upward trend. The completion of "black wave 2 of 3" at 0.59800 sets the stage for a significant upward movement in "black wave 3 of 3," with close monitoring required around the invalidation level of 0.59800. This analysis provides valuable guidance for traders and analysts tracking the NZD/USD pair's price movements..thumb.png.1f1dfd0e2b5ccdc53e92e73bafdab3c9.png)
Technical Analyst : Malik AwaisSource : Tradinglounge.com get trial here! -
ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NORTHERN STAR RESOURCES LTD – NST. We identify the NST completing wave ii-blue before the third wave of the larger Degrees returns to push much higher.ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Wave Technical AnalysisASX: NORTHERN STAR RESOURCES LTD – NST 1D Chart (Semilog Scale) AnalysisFunction: Major trend (Intermediate degree, blue)
Mode: Motive
Structure: Impulse
Position: Wave ii-blue of Wave (iii)-purple of Wave ((iii))-green of Wave 3-red of Wave (3)-blue
Details: The short-term outlook indicates that the (iii)-purple wave is unfolding to push higher. Current price action shows that wave i,ii-blue is unfolding.
Invalidation point: 13.40
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ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Wave Technical AnalysisASX: NORTHERN STAR RESOURCES LTD – NST 4-Hour Chart AnalysisFunction: Major trend (Minuette degree, purple)
Mode: Motive
Structure: Impulse
Position: Wave ((c))-red of Wave ii-blue of Wave (iii)-purple.
Details: The shorter-term outlook shows that wave ii-blue is unfolding as an ABC-red correction, with wave ((b))-red appearing as a Triangle. Wave ((c))-red is unfolding to push lower. A rise above 14.92 will renew the view that wave ii-blue has ended and wave iii-blue will open to push higher.
Invalidation point: 13.40.thumb.png.9a0386aa75f6cb045dd9b49b055cd987.png)
Conclusion:Our analysis, forecast of contextual trends, and short-term outlook for ASX: NORTHERN STAR RESOURCES LTD – NST 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: Wave 4 may be complete and the Price increase again in Wave 5
Binance/ U.S. dollar(BNBUSD)Trading Strategy:
The rise of the fifth wave in the Impulse pattern, which is subdivided into five waves. Currently, waves ((1)) and ((2)) are completed, the price is rising in wave ((3)). Therefore, the price There is a chance of continuing to increase above the level of 617.
TRON/ U.S. dollar(TRXUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.
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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: Wave 4 may be complete and the Price increase again in Wave 5.
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Technical Analyst : Kittiampon Somboonsod
Source : Tradinglounge.com get trial here!
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Commodity Market Elliott Wave Analysis Summary
- Dollar (DXY) Should continue to show weakness giving strength to AUD, GBP and EUR etc.
TLT Bonds continue to move higher developing into an impulse wave structure.
- Bitcoin (BTC) Short futures contracts are keeping Bitcoin's price low, but Elliott Wave analysis suggests Wave (4) is at its low, with Waves 1 and 2 potentially forming.
- Ethereum (ETH) Trading below 3000, Ethereum shows weakness and could make a new low, while DOGE appears slightly more positive.
- Gold, GDX, and Silver: These assets are trending higher; continue holding long positions.
- Base Metals: Copper and Uranium are performing well, indicating strength in the sector.
- Crude Oil: Crude oil remains sluggish but XOM is showing upward movement.
- Natural Gas: The corrective Wave (2) rally is losing steam.Video Chapters
00:00 Bitcoin (BTC) Ether ETH/USD Dogecoin
07:17 US Dollar Index, DXY / TLT Bonds. US Gov Bonds 10 Yr Yields
14:11 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG
21:36 Base Metals:Lithium, PLL, Uranium URA ETF / Copper / Nickel / Lithium
32:32 Energy:XOM / Crude Oil WTI OIL / Natural Gas NG
41:08 EndAnalyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817
Source: tradinglounge -
Corn Elliott Wave AnalysisFunction - TrendMode - Counter-TrendStructure - Expecting Impulse WavePosition - Wave 3Direction - Wave 3 is still in playDetails -Wave 3 has completed its 4th sub-wave which should be contained above 444’6 before the current big surge to complete wave 3 of (3). The bullish impulse sequence from 394’6 should extend higher provided there is no breach of 444’6. Not much has changed since the previous update.
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Corn has surged over 20% from its February 2024 low, following a prolonged 22-month sell-off that saw the commodity lose approximately 59% of its value. Despite this notable recovery, it remains modest when compared to the preceding bearish dominance. The critical question now is whether this is another minor retracement leading to further sell-offs or the beginning of a significant recovery that could surpass previous levels since the bearish cycle began in April 2022.On the daily chart, the bearish cycle from the April 2022 high of 824 was characterized by an A-B-C corrective structure. Before reaching that high, Corn experienced a much longer bullish cycle. It's reasonable to anticipate that the bullish trend prior to June 2022 might resume if the bearish cycle from June 2022 was merely a retracement. Now that we can confirm the completion of the sell-off from June 2022, we can expect an impulse wave recovery or at least another A-B-C or W-X-Y recovery pattern.The recovery from February 2024 is evolving into an impulse wave. This impulse wave could be interpreted as the first wave of any of the expected combinations discussed earlier. For simplicity, let's consider an A-B-C recovery. Thus, we can project the current bullish impulse to advance higher, completing the blue wave 'A' on the daily chart. This suggests that Corn prices have significant potential to rise further in the coming weeks.On the H4 chart, we zoom in on the sub-waves of the current recovery from 394. It appears that the price is in the final leg of wave 3 of (3). Wave (3) is anticipated to reach at least the 500 major level, where the price might encounter some resistance, prompting a wave (4) correction. Consequently, the primary degree wave A (blue circled) on the daily chart is about halfway completed. Given this outlook, Corn prices are expected to favor buyers in the near and medium term. Therefore, the recommended strategy would be to buy pullbacks along the bullish trend, aligning with the overall upward momentum.Technical Analyst : Sanmi AdeagboSource : Tradinglounge.com get trial here!.thumb.png.d0faa39c4b9ee90af3e9b80ac4814826.png)
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NIKKEI 225(N225) Elliott Wave Analysis Trading Lounge Day Chart,NIKKEI 225(N225) Elliott Wave Technical AnalysisFUNCTION: Counter TrendMODE: correctiveSTRUCTURE:red wave BPOSITION: blue wave 4DIRECTION NEXT LOWER DEGREES: red wave CDETAILS:red wave A of 4 completed , now red wave B of blue wave 4 is in play . Wave Cancel invalid level: 41215The day chart analysis of the NIKKEI 225 (N225) provides a comprehensive overview of the Elliott Wave pattern governing the price movements of this Japanese stock market index, focusing on potential trends and reversals.### Function:The identified function in the analysis is "Counter Trend," indicating that the NIKKEI 225 is currently exhibiting a temporary deviation from the prevailing trend. This suggests that the market is experiencing a corrective phase within a broader trend, offering opportunities for contrarian trading strategies.### Mode:The mode specified is "corrective," suggesting that the current price action is part of a corrective wave cycle within the Elliott Wave sequence. This implies that the movement observed in the market is corrective in nature, serving as a temporary interruption to the overall trend direction.### Structure:The structure highlighted is "red wave B," representing the specific wave count within the corrective phase. This indicates that the NIKKEI 225 is currently undergoing a corrective wave labeled as "red wave B," which is part of a broader corrective pattern.### Position:The position identified is "blue wave 4," specifying the location of the current wave within the broader Elliott Wave pattern. This implies that the market is advancing within the "blue wave 4" phase of the corrective wave cycle.### Direction for Next Lower Degrees:The direction indicated for the next lower degrees is "red wave C," suggesting the potential continuation of the corrective wave cycle at a broader degree. This implies that the current corrective movement may extend further before the broader trend resumes.### Details:The analysis notes that "red wave A" of "blue wave 4" has completed, signaling the onset of "red wave B." This suggests that the NIKKEI 225 may experience further corrective movement in the near term. The wave cancellation or invalidation level is set at 41215, providing a critical threshold for assessing the validity of the current wave count.In summary, the day chart analysis of the NIKKEI 225 suggests that the index is undergoing a corrective phase within the broader trend. The corrective structure and identified wave counts offer insights for traders looking to navigate the market and capitalize on potential price movements.
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NIKKEI 225(N225) Elliott Wave Analysis Trading Lounge Weekly Chart,NIKKEI 225(N225) Elliott Wave Technical AnalysisFUNCTION: TrendMODE: correctiveSTRUCTURE:blue wave 4POSITION:black wave 3DIRECTION NEXT HIGHER DEGREES: blue wave 5DETAILS:blue wave 3 looking completed at 41215, now blue wave 4 is in play . Wave Cancel invalid level: 88686The weekly chart analysis of the NIKKEI 225 (N225) provides insights into the Elliott Wave pattern governing the price movements of this prominent Japanese stock market index, focusing on potential trends and corrective phases.### Function:The analysis identifies the function as "Trend," suggesting that the NIKKEI 225 is currently exhibiting characteristics indicative of a broader trend direction. This implies that the market may be in a phase of sustained movement in a particular direction.### Mode:The mode specified in the analysis is "corrective," indicating that the current price action is part of a corrective phase within the Elliott Wave sequence. This suggests that the ongoing movement is not indicative of a new impulse wave but rather a temporary interruption in the prevailing trend.### Structure:The structure highlighted is "blue wave 4," representing the specific wave count within the corrective phase. This implies that the NIKKEI 225 is currently undergoing a corrective wave labeled as "blue wave 4," which is part of a broader corrective pattern.### Position:The position identified is "black wave 3," specifying the location of the current wave within the broader Elliott Wave pattern. This suggests that the market is advancing within the "black wave 3" phase of the corrective wave cycle.### Direction for Next Higher Degrees:The analysis indicates the direction for the next higher degrees as "blue wave 5," implying the potential continuation of the corrective wave cycle at a broader degree. This suggests that the current corrective movement may precede another impulse wave within the broader trend.### Details:The analysis notes that "blue wave 3" is presumed to have completed at 41215, indicating the onset of "blue wave 4." This suggests that the NIKKEI 225 may experience further corrective movement in the coming weeks. The wave cancellation or invalidation level is set at 88686, serving as a crucial threshold for evaluating the validity of the current wave count.In summary, the weekly chart analysis of the NIKKEI 225 suggests that the index is currently in a corrective phase within the broader trend. The identified wave counts and structural analysis offer valuable insights for traders seeking to understand and navigate the market dynamics of the NIKKEI 225.
Technical Analyst : Malik AwaisSource : Tradinglounge.com get trial here! -
ETN Elliott Wave Analysis Trading Lounge Daily Chart,Eaton Corp. PLC, (ETN) Daily ChartETN Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minute wave {iii}.DIRECTION: Upside in Minuette (v).DETAILS: Looking for upside in wave {iii}, equality of {iii} vs. {i} stands at 375$, which could be an ideal target.
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ETN Elliott Wave Analysis Trading Lounge 4Hr Chart,Eaton Corp. PLC, (ETN) 4Hr ChartETN Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave ii of (v).DIRECTION: Upside in wave iii.DETAILS: Looking for a pullback in wave ii to then resume higher. Looking for a clear three wave move in ii, volume seems to suggest the corrective nature of the whole move.
The latest Elliott Wave analysis for Eaton Corp. PLC (ETN) highlights a promising scenario for traders and investors, with both the daily and 4-hour charts indicating a continuation of the impulsive trend.* ETN Elliott Wave Technical Analysis – Daily Chart*The daily chart shows ETN's movement in an impulsive mode, within a motive structure, currently in Minute wave {iii}. The analysis suggests an ongoing upside movement, specifically targeting Minuette (v). A significant target identified is $375, based on the equality of wave {iii} versus wave {i}. This target level represents a potential point of interest for traders looking to capitalize on the continuation of the bullish trend.* ETN Elliott Wave Technical Analysis – 4Hr Chart*Consistent with the daily analysis, the 4-hour chart also supports a bullish outlook. Currently, ETN is in wave ii of Minuette (v), indicating a brief pullback before a likely continuation higher into wave iii. The corrective nature of wave ii is underscored by volume analysis, suggesting that the pullback is temporary and part of a broader impulsive sequence.Technical Analyst : Alessio BarrettaSource : Tradinglounge.com get trial here!
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Elliott Wave Analysis and Trading Strategies for NASDAQ Tech Stocks
in Shares and ETFs
Posted
Elliott Wave Analysis and Trading Strategies for NASDAQ Tech Stocks:
Featuring NASDAQ 100 (NDX), S&P 500 (SPX), Bitcoin (BTC), Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), and Alphabet (GOOGL).
NDX Tech Stocks: Elliott Wave Patterns and Market Movements
Currently, the Elliott Wave count for many tech stocks follows a pattern of v of (v) of iii) of 1 of (5) of 3). While this general count applies to most stocks, intraday movements show that many stocks are moving similarly. We anticipate that the markets will edge higher through a series of Wave Fours, indicating a rough ride upward. It's important to avoid overtrading during this period. The next major trading opportunity will arise once Minor Wave 2 is established, which could take about a month. In the short term, we will look for swing trading opportunities from Wave iv) to Wave v of 1.
Video Chapters
00:00 NASDAQ 100 (NDX), SP500 (SPX)
06:00 Bitcoin
07:18 Apple (AAPL)
09:57 Amazon (AMZN)
14:02 NVIDIA (NVDA)
15:29 Meta Platforms (META)
17:07 Netflix (NFLX)
18:15 Alphabet (GOOGL)
19:47 Microsoft MSFT
20:51 Tesla (TSLA)
21:53 End
Analyst Peter Mathers TradingLounge