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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 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge

Corn Elliott Wave Analysis Function - Trend Mode - Counter-Trend Structure - Expecting Impulse Wave Position - Wave 3 Direction - Wave 3 is still in play Details -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. 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 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 Adeagbo Source : Tradinglounge.com get trial here!

NIKKEI 225(N225) Elliott Wave Analysis Trading Lounge Day Chart, NIKKEI 225(N225) Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: corrective STRUCTURE:red wave B POSITION: blue wave 4 DIRECTION NEXT LOWER DEGREES: red wave C DETAILS:red wave A of 4 completed , now red wave B of blue wave 4 is in play . Wave Cancel invalid level: 41215 The 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. 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 NIKKEI 225(N225) Elliott Wave Analysis Trading Lounge Weekly Chart, NIKKEI 225(N225) Elliott Wave Technical Analysis FUNCTION: Trend MODE: corrective STRUCTURE:blue wave 4 POSITION:black wave 3 DIRECTION NEXT HIGHER DEGREES: blue wave 5 DETAILS:blue wave 3 looking completed at 41215, now blue wave 4 is in play . Wave Cancel invalid level: 88686 The 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 Awais Source : Tradinglounge.com get trial here!

ETN Elliott Wave Analysis Trading Lounge Daily Chart, Eaton Corp. PLC, (ETN) Daily Chart ETN Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: 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. 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 ETN Elliott Wave Analysis Trading Lounge 4Hr Chart, Eaton Corp. PLC, (ETN) 4Hr Chart ETN Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: 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 Barretta Source : Tradinglounge.com get trial here!

EURGBP Elliott Wave Analysis Trading Lounge Day Chart, Euro/British Pound(EURGBP) Day Chart EURGBP Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE:corrective STRUCTURE: red wave C POSITION: blue wave Y of B DIRECTION NEXT HIGHER DEGREES:black wave C DETAILS: red wave B of blue wave Y looking completed ,now red wave C is in play . Wave Cancel invalid level: 0.86449 The day chart analysis of EURGBP offers valuable insights into the Elliott Wave pattern governing the price movements of the Euro against the British Pound, focusing on potential trends and reversals. ### Function: The identified function in the analysis is "Counter Trend," indicating that the EURGBP pair 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 C," representing the specific wave count within the corrective phase. This indicates that the EURGBP pair is currently undergoing a corrective wave labeled as "red wave C," which is part of a broader corrective pattern. ### Position: The position identified is "blue wave Y of B," specifying the location of the current wave within the broader Elliott Wave pattern. This implies that the market is advancing within the "blue wave Y" phase of the corrective wave cycle labeled as "B." ### Direction for Next Higher Degrees: The direction indicated for the next higher degrees is "black 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 B" of "blue wave Y" appears to have completed, signaling the onset of "red wave C." This suggests that the EURGBP pair may experience further corrective movement in the near term. The wave cancellation or invalidation level is set at 0.86449, providing a critical threshold for assessing the validity of the current wave count. In summary, the day chart analysis of EURGBP suggests that the pair 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. 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 EURGBP Elliott Wave Analysis Trading Lounge 4 Hour Chart, Euro/British Pound(EURGBP) 4 Hour Chart EURGBP Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE:impulsive as C STRUCTURE: red wave C POSITION: blue wave Y of B DIRECTION NEXT HIGHER DEGREES:black wave C DETAILS: red wave B of blue wave Y looking completed ,now red wave C is in play. Wave Cancel invalid level: 0.86449 The 4-hour chart analysis of EURGBP provides insights into the Elliott Wave pattern governing the price movements of the Euro against the British Pound, shedding light on potential trends and reversals. ### Function: The identified function in the analysis is "Counter Trend," suggesting that the EURGBP pair is currently exhibiting a temporary deviation from the prevailing trend. This implies that the market is experiencing a corrective phase within a broader trend. ### Mode: The mode specified is "impulsive as C," indicating that the current price action is characterized by decisive and forceful momentum. This suggests that the corrective movement observed in the market is unfolding in a rapid and assertive manner. ### Structure: The structure highlighted is "red wave C," representing the specific wave count within the Elliott Wave sequence. This indicates that the EURGBP pair is currently undergoing a corrective wave cycle labeled as "red wave C." ### Position: The position identified is "blue wave Y of B," specifying the location of the current wave within the broader Elliott Wave pattern. This implies that the market is advancing within the "blue wave Y" phase of the corrective wave cycle labeled as "B." ### Direction for Next Higher Degrees: The direction indicated for the next higher degrees is "black 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 B" of "blue wave Y" appears to have completed, signaling the onset of "red wave C." This suggests that the EURGBP pair may experience further corrective movement in the near term. The wave cancellation or invalidation level is set at 0.86449, providing a critical threshold for assessing the validity of the current wave count. In summary, the 4-hour chart analysis of EURGBP suggests that the pair is undergoing a corrective phase within the broader trend. The impulsive nature of the corrective movement and the identified wave structure provide valuable insights for traders seeking to anticipate potential price developments in the market. 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. Invalidation point: 175.19 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: 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 shows that wave 3-red is unfolding, subdividing into waves (i),(ii)-purple, which appear to have concluded. Wave (iii)-purple is now opening up to push higher, aiming for the immediate target around $200, while the price must always remain above the level of 175.19. Invalidation point: 175.19 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, Dogecoin/ U.S. dollar(DOGEUSD) DOGEUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave ((C)) Direction Next higher Degrees: Wave IV of Impulse Wave Cancel invalid Level: Details: Wave IV May is complete and the price increase again in Wave V Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy: Overall, Dogecoin 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. Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. 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 Elliott Wave Analysis TradingLounge H4 Chart, Dogecoin/ U.S. dollar(DOGEUSD) DOGEUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave ((C)) Direction Next higher Degrees: Wave IV of Impulse Wave Cancel invalid Level: Details: Wave IV May is complete and the price increase again in Wave V Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy: Overall, Dogecoin 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. Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!

Natural Gas Technical Analysis Mode - Corrective for wave 4 Structure - Double Zigzag Position - Wave (2) Direction - Wave (3)) Details: Wave (2) is close to completion in the reversal zone. Wave (3) will have begun if the price leaves the zone. 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 Natural Gas has embarked on a robust rally, surging nearly 45% since April 25, 2024, perpetuating the overarching bullish correction that commenced in January of the same year. Despite this upward momentum, the prevailing trend maintains a downward trajectory, seemingly unbroken as of yet. Consequently, traders anticipate the eventual resumption of the bearish trend after the culmination of the ongoing bullish retracement. Analyzing the daily chart, a bearish impulse initiated in August 2022 around the $10 mark. From that point until February 2024, this downward cycle obliterated approximately 85% of the commodity's value, plummeting from $10 to a meager $1.52. However, the subsequent recovery from February exhibits characteristics indicative of a corrective pattern, potentially manifesting as either a zigzag or a double zigzag until a more formidable impetus materializes to warrant consideration of an impulse recovery. Notably, around October 2023, the completion of the 4th wave within the long-term impulse was observed at 3.66, precipitating the onset of the 5th wave's descent. However, the price only finalized a 3-swing movement to the low of February 2024. When the initiation of the 5th wave commences with a 3-swing, it suggests a higher probability of an ending diagonal structure. Delving into the daily chart analysis, we delineate the decline to the February low as wave (1) of the 5th wave, with the current upswing identified as wave (2). Presently, wave (2) has reached a reversal zone, signaling the potential commencement of wave (3). Alternatively, wave (2) might extend its upward trajectory in another three swings should the decline from the zone demonstrate corrective qualities. Monitoring the price action, it is imperative for wave (2) completion that the price conveniently remains below 3.39. Zooming in on the H4 chart, wave (2) manifests as an evolving double zigzag pattern. Confirmation of wave (3) initiation necessitates the observation of a bearish impulse from the zone below 2.185, followed by a breach beneath the major level of 2.00. This juncture is poised to attract a surge in selling activity, propelling the commodity into a new low not witnessed in the past four years. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

BABA Elliott Wave Analysis Trading Lounge Daily Chart, Alibaba Group Holdings Ltd.,(BABA) Daily Chart BABA Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minute {i} or {a}. DIRECTION: Correction in {ii}. DETAILS: We had five waves up in either a wave C, or else as shown in the chart we could be in wave {i} of else 3. 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 BABA Elliott Wavse Analysis Trading Lounge 4Hr Chart, Alibaba Group Holdings Ltd.,(BABA) 4Hr Chart BABA Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minute {i} or {a}. DIRECTION: Correction in {ii}. DETAILS: Looking for a correction around TL8 at 80$, ideally looking for a ClassicTradingLevelsPattern(CTLP) around 80$ to then looking for longs. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! In the realm of Elliott Wave analysis, Alibaba Group Holdings Ltd. (BABA) presents an intriguing setup, with both the daily and 4-hour charts indicating potential corrections amidst an overall impulsive trend. * BABA Elliott Wave Technical Analysis – Daily Chart* On the daily chart, BABA's trend is identified as impulsive, with a motive structure, likely positioned in either Minute {i} or {a}. However, the analysis suggests a corrective phase in Minute {ii}, following a five-wave uptrend, possibly representing Wave C or {i} of Wave 3. This interpretation indicates a temporary pullback before potential continuation to the upside. * BABA Elliott Wave Technical Analysis – 4Hr Chart* Similarly, the 4-hour chart echoes the impulsive trend structure, with BABA positioned in either Minute {i} or {a}. The analysis anticipates a correction in Minute {ii}, providing an opportunity for traders to capitalize on potential long positions. The correction is projected to occur around the Classic Trading Levels Pattern (CTLP) at $80, which could act as a significant support level.

NASDAQ Elliott Wave Analysis Trading Lounge Day Chart, NASDAQ Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE:blue wave 5 POSITION: Black wave 5 of red wave 3 DIRECTION NEXT LOWER DEGREES: red wave 4 DETAILS:blue wave 4 looking completed at 16980.6 .Now blue wave 5 of black wave 5 of 3 is in play . Wave Cancel invalid level: 16980.6 The NASDAQ daily chart provides insights into the Elliott Wave pattern governing the price movements of the NASDAQ Composite Index, indicating the prevailing market sentiment and potential future price direction. ### Function: The function of the chart is identified as "Trend," suggesting that the NASDAQ Composite Index is currently experiencing a sustained directional movement over a period of time. This indicates that the market is likely undergoing a significant and prolonged price trend. ### Mode: The mode highlighted in the analysis is "impulsive," indicating that the current price movement is characterized by strong momentum and decisive directional shifts. Impulsive waves typically represent phases of robust price advancement within the Elliott Wave sequence. ### Structure: The structure outlined is "blue wave 5," which signifies the fifth and final wave of a larger-degree wave cycle. This implies that the NASDAQ is nearing the completion of a significant upward movement within the current Elliott Wave cycle. ### Position: The position on the chart is identified as "Black wave 5 of red wave 3," indicating the specific wave count within the broader Elliott Wave pattern. This suggests that the market is currently in the midst of the fifth wave of a third-wave advance, which is often the most powerful and extended phase. ### Direction for Next Lower Degrees: The direction for the next lower degrees is specified as "red wave 4," suggesting that a corrective phase is anticipated following the completion of the current impulsive wave cycle. Corrective waves typically involve temporary price retracements or consolidations within the broader trend. ### Details: The analysis notes that "blue wave 4" has likely completed its retracement, with the market now entering the final phase of the impulsive cycle, "blue wave 5." The wave cancellation or invalidation level is set at 16980.6, serving as a critical threshold. A breach of this level could potentially invalidate the current wave count, indicating a shift in market dynamics. In summary, the NASDAQ daily chart suggests that the market is in an impulsive uptrend, with the completion of "blue wave 4" signaling the onset of the final wave, "blue wave 5." The wave cancellation level provides a key reference point for assessing the validity of the current wave count and anticipating potential trend reversals. 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 NASDAQ Elliott Wave Analysis Trading Lounge weekly Chart, NASDAQ Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE:blue wave 5 POSITION: Black wave 5 of red wave 3 DIRECTION NEXT LOWER DEGREES: red wave 4 DETAILS:blue wave 4 looking completed at 16980.6 .Now blue wave 5 of black wave 5 is in play . Wave Cancel invalid level: 16980.6 The weekly chart analysis of the NASDAQ provides a comprehensive view of the market's Elliott Wave pattern, offering valuable insights into the prevailing trends and potential future price movements. ### Function: The function identified in the analysis is "Trend," indicating that the NASDAQ is currently experiencing a sustained directional movement over an extended period. This suggests that the market is in the midst of a significant and prolonged price trend. ### Mode: The mode highlighted is "impulsive," signaling that the current price action is characterized by strong and decisive momentum. Impulsive waves typically represent phases of robust price advancement within the Elliott Wave sequence, indicating a strong bullish sentiment in the market. ### Structure: The structure outlined is "blue wave 5," representing the fifth and final wave of a larger-degree wave cycle. This implies that the NASDAQ is approaching the culmination of a substantial upward movement within the current Elliott Wave cycle. ### Position: The position specified on the chart is "Black wave 5 of red wave 3," indicating the specific wave count within the broader Elliott Wave pattern. This suggests that the market is currently advancing within the fifth wave of the third wave, which is often the most powerful and extended phase of an Elliott Wave cycle. ### Direction for Next Lower Degrees: The direction for the next lower degrees is identified as "red wave 4," implying that a corrective phase is anticipated following the completion of the current impulsive wave cycle. Corrective waves typically involve temporary price retracements or consolidations within the broader trend. ### Details: The analysis notes that "blue wave 4" has likely completed its retracement, with the market now advancing in the final phase of the impulsive cycle, "blue wave 5." The wave cancellation or invalidation level is set at 16980.6, serving as a critical threshold. A breach of this level could potentially invalidate the current wave count, signaling a shift in market dynamics. In summary, the weekly chart analysis of the NASDAQ suggests that the market is in an impulsive uptrend, with the completion of "blue wave 4" indicating the onset of the final wave, "blue wave 5." The wave cancellation level provides an essential reference point for assessing the validity of the current wave count and anticipating potential trend reversals. Technical Analyst : Malik Awais 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: impulsive STRUCTURE: red wave 3 POSITION: blue wave 1 DIRECTION NEXT LOWER DEGREES: red wave 4 DETAILS: red wave 2 looking completed at 1.2459 .Now red wave 3 is in play . Wave Cancel invalid level: 1.22997 The daily chart for the British Pound versus the U.S. Dollar (GBP/USD) reveals a trend-following Elliott Wave pattern, providing insights into the directional movement of the market. ### Function: The function of the chart is defined as "Trend," indicating that the GBP/USD pair is currently exhibiting a strong directional movement. This suggests that the market is likely experiencing a sustained movement in one direction over a period of time. ### Mode: The mode identified is "impulsive," which signifies that the market is exhibiting strong momentum in its movement. Impulsive waves are characteristic of Elliott Wave theory and typically represent phases of robust directional movement within a broader trend. ### Structure: The structure highlighted in the analysis is "red wave 3," indicating that the market is currently in the midst of a significant and forceful upward movement. Red waves typically denote larger-degree waves within the Elliott Wave sequence, with red wave 3 often being the most powerful and extended phase. ### Position: The position on the chart is identified as "blue wave 1," suggesting that the first wave of the broader impulsive pattern has commenced. This indicates the initiation of a new phase of upward price movement within the larger trend. ### 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 phase (red wave 4) is expected to follow. Corrective waves typically involve temporary price retracements or consolidations before the trend resumes. ### Details: The analysis notes that "red wave 2" has likely completed its retracement, with the market now in the early stages of "red wave 3." The wave cancellation or invalidation level is set at 1.22997, indicating a critical threshold. A breach of this level could potentially invalidate the current wave count, suggesting a shift in the market dynamics. In summary, the daily chart for GBP/USD indicates a strong impulsive trend, with the market currently in the early stages of "red wave 3." The completion of "red wave 2" suggests that a new upward leg is underway, with a wave cancellation level providing a crucial reference point for assessing the validity of the current wave count. 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 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: impulsive STRUCTURE: red wave 3 POSITION: blue wave 1 DIRECTION NEXT LOWER DEGREES: red wave 4 DETAILS: red wave 2 looking completed at 1.2459 .Now red wave 3 is in play . Wave Cancel invalid level: 1.22997 The 4-hour chart for the British Pound versus the U.S. Dollar (GBP/USD) reveals a trend-following Elliott Wave pattern, providing insights into the directional movement of the market. ### Function: The function of the chart is defined as "Trend," indicating that the GBP/USD pair is currently exhibiting a strong directional movement. This suggests that the market is likely experiencing a sustained movement in one direction over a period of time. ### Mode: The mode identified is "impulsive," which signifies that the market is exhibiting strong momentum in its movement. Impulsive waves are characteristic of Elliott Wave theory and typically represent phases of robust directional movement within a broader trend. ### Structure: The structure highlighted in the analysis is "red wave 3," indicating that the market is currently in the midst of a significant and forceful upward movement. Red waves typically denote larger-degree waves within the Elliott Wave sequence, with red wave 3 often being the most powerful and extended phase. ### Position: The position on the chart is identified as "blue wave 1," suggesting that the first wave of the broader impulsive pattern has commenced. This indicates the initiation of a new phase of upward price movement within the larger trend. ### 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 phase (red wave 4) is expected to follow. Corrective waves typically involve temporary price retracements or consolidations before the trend resumes. ### Details: The analysis notes that "red wave 2" has likely completed its retracement, with the market now in the early stages of "red wave 3." The wave cancellation or invalidation level is set at 1.22997, indicating a critical threshold. A breach of this level could potentially invalidate the current wave count, suggesting a shift in the market dynamics. In summary, the 4-hour chart for GBP/USD indicates a strong impulsive trend, with the market currently in the early stages of "red wave 3." The completion of "red wave 2" suggests that a new upward leg is underway, with a wave cancellation level providing a crucial reference point for assessing the validity of the current wave count. 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. In the forecast we made last week, the current WTC increased in price exactly as predicted. 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 In the forecast We made last week, the current WTC increased in price exactly as predicted. 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 109.26. It's crucial for the price to consistently remain above the level of 94.82 to support this perspective. Invalidation point: 88.33 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: 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 iii-blue In the forecast we made last week, the current WTC increased in price exactly as predicted. Details: In the shorter-term outlook, wave iii-blue is opening up to push higher, while the price must always remain above the level of 94.79. A dip below 94.79 would indicate that wave iv-blue is opening up to push slightly lower before wave v-blue resumes to push higher. Invalidation point: 88.33 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, 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. 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 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!

This summary provides a comprehensive Elliott Wave analysis of the NASDAQ 100 (NDX) and major technology stocks including the QQQ ETF, SP500 (SPX), SPY, Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), and Alphabet (GOOGL). It highlights a slow, upward trend in US indices and key stocks, driven by strategic responses to supply constraints and Fibonacci levels. The analysis underscores the importance of managing long positions and taking profits at current price zones, anticipating potential declines. Detailed attention is given to the broader trends in the SP500 and Nasdaq 100, providing a daily guide through the evolving market landscape. Video Chapters 00:00 NASDAQ 100 (NDX) QQQ ETF, SP500 (SPX), SPY, 09:31 Apple (AAPL) 11:42 Amazon (AMZN) 15:27 NVIDIA (NVDA) 18:22 Meta Platforms (META) 22:11 Netflix (NFLX) 23:04 Alphabet (GOOGL) 24:25 Microsoft MSFT 25:37 Tesla (TSLA) 26:40 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge. com

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

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

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

ASX: FORTESCURE LTD – FMG Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with FORTESCURE 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: FORTESCURE LTD - FMG Elliott Wave Technical Analysis ASX: FORTESCURE LTD - FMG 1D Chart (Semilog Scale) Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave (iii)-purple of Wave ((iii))-green Details: The short-term outlook suggests that wave i in blue is currently unfolding to push higher, and wave ii in blue may soon return to pull back slightly before wave iii in blue resumes to push even higher. Invalidation point: 23.43 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: FORTESCURE LTD - FMG Elliott Wave Technical Analysis ASX: FORTESCURE LTD - FMG 4-Hour Chart Analysis Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave ii-blue Details: The shorter-term outlook indicates that waves (i) and (ii) in purple have recently completed, and wave (iii) in purple is currently unfolding to push higher. It is subdividing into wave i in blue, which seems to have reached its peak. Therefore, I am open to the possibility that wave ii in blue will unfold to push slightly lower, followed by wave iii in blue resuming to push even higher. Invalidation point: 24.04 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: FORTESCURE 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). Source : Tradinglounge.com get trial here!

ASX: FORTESCURE LTD – FMG Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with FORTESCURE 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: FORTESCURE LTD - FMG Elliott Wave Technical Analysis ASX: FORTESCURE LTD - FMG 1D Chart (Semilog Scale) Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave (iii)-purple of Wave ((iii))-green Details: The short-term outlook suggests that wave i in blue is currently unfolding to push higher, and wave ii in blue may soon return to pull back slightly before wave iii in blue resumes to push even higher. Invalidation point: 23.43 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: FORTESCURE LTD - FMG Elliott Wave Technical Analysis ASX: FORTESCURE LTD - FMG 4-Hour Chart Analysis Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave ii-blue Details: The shorter-term outlook indicates that waves (i) and (ii) in purple have recently completed, and wave (iii) in purple is currently unfolding to push higher. It is subdividing into wave i in blue, which seems to have reached its peak. Therefore, I am open to the possibility that wave ii in blue will unfold to push slightly lower, followed by wave iii in blue resuming to push even higher. Invalidation point: 24.04 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: FORTESCURE 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). Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge Daily Chart, Tron/ U.S. dollar(TRXUSD) TRXUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Impulse Position: Wave ((3)) Direction Next higher Degrees: wave V of Impulse Wave Cancel invalid Level: 0.1051 Details: the five-wave increase of Wave ((3)) TRON/ U.S. dollar(TRXUSD)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 0.1442. TRON/ U.S. dollar(TRXUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. 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 Elliott Wave Analysis TradingLounge H4 Chart, Tron/ U.S. dollar(TRXUSD) TRXUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Impulse Position: Wave ((3)) Direction Next higher Degrees: wave V of Impulse Wave Cancel invalid Level: 0.1051 Details: the five-wave increase of Wave ((3)) TRON/ U.S. dollar(TRXUSD)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 0.1442. 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!

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