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WTI Elliott wave analysis Function - Counter-trend Mode - Corrective Structure - Triple Zigzag Position - Wave X of triple zigzag Direction - Wave Y of the triple zigzag Details -Double zigzag for wave X entered the Fibonacci support base to find support after marginally surpassing the 80 major level. It may go deeper in the zone but should not exceed the invalidation level 75.49. A reaction upwards is expected from the zone. The US Crude Oil has been shedding prices since April 12, 2024. Since then, the commodity has lost nearly 10% in value. The fall followed a 4-month, 29% rally that started in December 2023. The question is whether the commodity will resume the recovery from December or if all of it will be lost in the coming weeks/months. The daily chart captures the bearish cycle that retraces the strong impulse rally between the Covid time and the March 2022 peak of the Russia-Ukraine war. This retracement, as shown, is emerging into a double zigzag pattern - labeled W-X-Y (circled in blue) of the primary degree. Price is currently in the last leg - blue wave Y, which is also subdivided into (A)-(B)-(C) zigzag structure of the intermediate degree. A closer look shows wave (B) is ongoing and has completed a double zigzag. However, one more rally is likely to surface for a triple zigzag. So, we are torn between a double and triple zigzag for (B). One has to be invalidated for the other to be valid. If it’s a double zigzag, the current decline from Y should break the channel downwards and complete an impulse. However, if the current dip completes another corrective structure and price responds sharply upside, a triple zigzag will be favored. Therefore, we need to investigate the current dip on the H4 chart. The H4 chart shows a double zigzag emerging from wave Y. The commodity should find support between the 79.23 and 76.90 Fibonacci areas and react sharply upside for wave Z to complete a triple zigzag. This is the preferred count. However, if a significant rebound doesn’t happen at the zone and the decline continues below 75.49, we can refer to the drop from Y as an impulse and take wave (B) to have ended at 87.63 with a double zigzag structure. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

USDJPY Elliott Wave Analysis Trading Lounge Day Chart, U.S.Dollar/Japanese Yen(USDJPY) Day Chart USDJPY Elliott Wave Technical Analysis FUNCTION: Trend MODE:impulsive STRUCTURE:black wave 5 POSITION: red wave 5 DIRECTION NEXT HIGHER DEGREES: black wave 5 ( started) DETAILS black wave 4 looking completed at 152.970 . Now black wave 5 is in play. Wave Cancel invalid level: 152.970 The USD/JPY Elliott Wave Analysis for the Day Chart examines the market behavior of the U.S. Dollar against the Japanese Yen using Elliott Wave Theory to determine its trend, mode, and structure. This analysis provides insights into the current and upcoming wave patterns and highlights key levels to watch. ### Function The function of the current market pattern is "Trend," indicating that the structure represents a continuation of a directional movement rather than a correction or reversal. This trend function suggests that the market is in a strong and sustained movement. ### Mode The mode is described as "impulsive," indicating that the price action is characterized by sharp and strong movements in a specific direction. Impulsive waves generally consist of five sub-waves and are typically indicative of a clear trend. ### Structure The structure in play is the "black wave 5," which represents the final wave in an impulsive sequence. This usually leads to the culmination of the current trend and is often followed by a significant correction or reversal. ### Position The position within the structure is "red wave 5," which is a component of the broader black wave 5. This position indicates that the market is in the final stages of the current impulsive move, suggesting that a correction or change in trend could follow once this wave completes. ### Direction for the Next Higher Degrees The direction for the next higher degrees is also "black wave 5," indicating that the broader trend is still active, suggesting that there's more upward potential within this final impulsive wave. ### Details The details section highlights that "black wave 4" was completed at 152.970, signaling the end of the corrective phase and the beginning of black wave 5. This wave is now in play, indicating that the final leg of the current trend has started. The Wave Cancel invalid level is also set at 152.970, implying that if the price falls below this level, the Elliott Wave structure might be invalidated, indicating a possible change in the trend's dynamics. In summary, the USD/JPY Elliott Wave Analysis for the Day Chart suggests that the market is in the final stages of an impulsive trend (black wave 5), with "red wave 5" underway. The completion of "black wave 4" at 152.970 signals the start of the final impulsive phase, indicating that a correction or reversal could follow after black wave 5 completes. The Wave Cancel invalid level at 152.970 serves as a critical threshold for monitoring the validity of the current wave structure, guiding traders in their analysis and strategy. USDJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, U.S.Dollar/Japanese Yen(USDJPY) 4 Hour Chart USDJPY Elliott Wave Technical Analysis FUNCTION: Trend MODE:impulsive STRUCTURE:black wave 5 POSITION: red wave 5 DIRECTION NEXT HIGHER DEGREES: black wave 5 ( started) DETAILS black wave 4 looking completed at 152.970 . Now black wave 5 is in play. Wave Cancel invalid level: 152.970 The USD/JPY Elliott Wave Analysis for the 4 Hour Chart focuses on the U.S. Dollar's performance against the Japanese Yen. It uses Elliott Wave Theory to explain the current market structure and its expected direction, providing insights into potential trading opportunities and risks. ### Function The analysis indicates that the current market function is "Trend," suggesting that the structure represents a continuation of an existing trend rather than a correction or reversal. This trend function generally involves a sequence of impulsive waves, indicating a strong directional move. ### Mode The mode is classified as "impulsive," indicating that the price action is characterized by a rapid and significant movement, typically composed of five distinct waves within the Elliott Wave framework. This impulsive mode suggests a clear and strong trend direction. ### Structure The structure is identified as "black wave 5," indicating that the current wave is the final wave of an impulsive sequence. This typically leads to a more significant correction or a change in trend direction after it completes. ### Position The position is described as "red wave 5," which is part of the larger black wave 5, suggesting that the market is in the final stages of the broader impulsive trend. This position indicates a potential end to the current upward trend, with a subsequent correction or reversal expected. ### Direction for the Next Higher Degrees The direction for the next higher degrees is also "black wave 5," indicating that the broader trend is still underway, suggesting more room for upward movement. ### Details In the details section, it is noted that "black wave 4" was completed at 152.970, indicating that the corrective phase has ended, and the final black wave 5 is now in play. The Wave Cancel invalid level is also set at 152.970, meaning that if the price crosses this level, the current Elliott Wave structure could be invalidated, suggesting a change in trend dynamics. In summary, the USD/JPY Elliott Wave Analysis for the 4 Hour Chart suggests that the market is in the final stages of an impulsive trend (black wave 5), with "red wave 5" underway. The black wave 4 was completed at 152.970, signaling the end of the correction and the beginning of the final impulsive phase. The Wave Cancel invalid level is also set at 152.970, serving as a critical threshold for monitoring the validity of the current Elliott Wave structure. This analysis can help traders understand the current trend and anticipate potential market changes. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

ASX: MINERAL RESOURCES LIMITED - MIN Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with MINERAL RESOURCES LIMITED - MIN. We have determined that wave ((2))-red has ended, and wave ((3))-red can be opened to push higher. ASX: MINERAL RESOURCES LIMITED - MIN Elliott Wave Technical Analysis ASX: MINERAL RESOURCES LIMITED - MIN 1D Chart (Semilog Scale) Analysis Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave ((3))-red of Wave iii-blue of Wave (iii)-purple Details: The short-term outlook suggests that the ((2))-red wave appears to be nearing its end, and thereafter, the ((3))-red wave may return to push higher. A swift and strong price increase above the 70.95 level will gradually clarify this perspective. Invalidation point: 61.00 ASX: MINERAL RESOURCES LIMITED - MIN Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: MINERAL RESOURCES LIMITED - MIN Elliott Wave Technical Analysis ASX: MINERAL RESOURCES LIMITED - MIN 4-Hour Chart Analysis Function: Major trend (Micro degree, red) Mode: Motive Structure: Impulse Position: Wave ((3))-red of Wave iii-red of Wave (i)-purple Details: The shorter-term outlook suggests that wave ((2))-red has just completed, and wave ((3))-red is now unfolding to push higher. This establishes wave ((3))-red of wave iii-blue of wave (i)-purple, indicating that prices are likely to rise significantly. Invalidation point: 66.31 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: MINERAL RESOURCES LIMITED - MIN aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge Daily Chart Tron/ U.S. dollar(TRXUSD) TRXUSD Elliott Wave Technical Analysis Function: Counter trend Mode: Corrective Structure: Zigzag Position: Wave ((C)) Direction Next higher Degrees: wave I of Impulse Wave Cancel invalid Level: Details: Wave IV may be complete and the price increase again in Wave V. Tron/ U.S. dollar(TRXUSD)Trading Strategy: Tron's fourth wave correction appears to be complete at the level. 0.1051 and the price is rising again in the fifth wave. But there may be a correction in wave 2 of the fifth wave before increasing. Therefore, the overall price is entering the trend again. Looking for opportunities to open long positions. Tron/ U.S. dollar(TRXUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum. Elliott Wave Analysis TradingLounge H4 Chart Tron/ U.S. dollar(TRXUSD) TRXUSD Elliott Wave Technical Analysis Function: Counter trend Mode: Corrective Structure: Zigzag Position: Wave ((C)) Direction Next higher Degrees: wave I of Impulse Wave Cancel invalid Level: Details: Wave IV may be complete and the price increase again in Wave V. Tron/ U.S. dollar(TRXUSD)Trading Strategy: Tron's fourth wave correction appears to be complete at the level. 0.1051 and the price is rising again in the fifth wave. But there may be a correction in wave 2 of the fifth wave before increasing. Therefore, the overall price is entering the trend again. Looking for opportunities to open long positions. 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!

Elliott Wave Analysis Indices: Elliott Wave Analysis Indices: SP 500 and Nasdaq 100 Wave (4). No doubt there is bearish pressure on all current Indices patterns and based on that I look at the bearish Elliott wave pattern to lower ground, that said I also look at a slim but possible bullish pattern, that still has a little downside before recovery. Video Chapters 00:00 SP 500 (SPX) SPY 04:51 NASDAQ (NDX) 08:12 Russell 2000 (RUT) IWM 09:14 DAX 40 (DAX) 11:20 FTSE 100 UKX (UK100) 15:51 S&P/ASX 200 (XJO) 19:01 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com

Coffee Elliott Wave Analysis Function - Counter-trend Mode - Corrective Structure - Possible Zigzag for B Position - Wave B of (Y) Direction - Wave B of (Y) is still in progress Details - Wave B is still in progress. It looks to be in the last leg for a zigzag structure. The decline could continue to 207-to-199 before returning upside for wave C. Coffee prices have embarked on a nuanced journey post the robust impulse breakout witnessed since March 19, signifying a potential completion of a significant phase. Preceding this surge, the commodity had languished within a confined sideways range for a span of three months. The ongoing descent appears poised to persist within the framework of a zigzag structure, setting the stage for an eventual upward trajectory in alignment with the broader resurgence. Delving into the daily chart reveals the unfolding of a bullish double zigzag pattern originating from 141.85 in January 2023. This intricate pattern likely constitutes the second leg of a larger corrective wave initiated back in February 2022. For analytical simplicity, our focus remains on the double zigzag structure stemming from 141.85, as depicted on the daily chart. Presently, this double zigzag is navigating through its final wave – denoted as primary degree blue wave W. Blue wave W, in turn, unfolds as a double zigzag at the intermediate degree, delineated as waves (W)-(X)-(Y). The preceding three-month consolidation period culminated in the formation of a triangle pattern, notably identified as wave (X), at the 179.35 mark. The ongoing wave Y also appears to be materializing into a double zigzag, with the current downturn representing its second leg, preceding an anticipated upward surge to finalize wave (Y) of blue Y. Zooming in on the H4 chart accentuates the present retracement, identified as wave B of (Y). This corrective wave is conceivably in the process of completing a zigzag pattern and may discover support within the Fibonacci zone spanning from 207.9 to 199.40. Consequently, a subsequent wave C is anticipated to manifest, propelling prices higher, potentially surpassing the April 18th high. However, a decisive breach beneath this support zone, coupled with a violation of the 161.8% extension level at 194.3, could herald the emergence of an impulse wave. Such a scenario could entail a more profound corrective pullback, challenging the integrity of the 179.35 low, or even signaling the culmination of wave (Y) at the April 18th peak, paving the way for a broader downturn encompassing primary degree wave Y (blue). Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

AUDJPY Elliott Wave Analysis Trading Lounge Day Chart, Australian Dollar / Japanese Yen (AUDJPY) Day Chart AUDJPY Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: impulsive as C STRUCTURE: blue wave 1 POSITION: blue wave 1 DIRECTION NEXT HIGHER DEGREES: blue wave 2 DETAILS black wave 2 completed at 104.996,now blue wave 1 of black wave C is in play . Wave Cancel invalid level:104.990 The AUD/JPY Elliott Wave Analysis for the Day Chart provides insights into the price action of the Australian Dollar against the Japanese Yen. It explores the wave structure, current positioning, and potential market movements, essential for Elliott Wave analysts and technical traders. ### Function The analysis defines the function as "Counter Trend," indicating that the current wave pattern opposes the broader market trend. This function typically consists of corrective waves or trend reversals, leading to more complex price action. ### Mode The mode is characterized as "impulsive as C," suggesting that the wave structure represents an impulsive wave within a corrective phase. This mode is generally composed of five waves, indicating a significant market move. ### Structure The structure is identified as "blue wave 1," signaling that the current phase is the beginning of a broader impulsive wave within a corrective context. This could be an initial push upward before a subsequent correction and further trend continuation. ### Position The position is described as "blue wave 1," indicating that the market is in the first wave of a new impulse sequence, suggesting that a larger trend might be forming or reversing. ### Direction for the Next Higher Degrees The expected direction for the next higher degrees is "blue wave 2," indicating that after the current impulsive wave completes, a corrective phase is likely to follow before the trend continues. This is a key point for traders looking for entry opportunities within a corrective structure. ### Details The details section provides a deeper look at the wave structure. According to the analysis, "black wave 2" completed at 104.996, with "blue wave 1" of black wave C currently in play. The "Wave Cancel invalid level" is set at 104.990, indicating that if the price crosses this threshold, the current wave structure could be invalidated, suggesting a potential shift in market dynamics. In summary, the AUD/JPY Elliott Wave Analysis for the Day Chart indicates that the market is in an impulsive phase within a counter-trend context. Black wave 2 completed at 104.996, and blue wave 1 of black wave C is in play, with a potential transition to a corrective phase (blue wave 2) expected. The Wave Cancel invalid level is set at 104.990, providing a critical level for monitoring the validity of the current wave structure. This analysis can be useful for traders and analysts seeking to understand the current market context and predict potential price movements. AUDJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, Australian Dollar / Japanese Yen (AUDJPY) 4 Hour Chart AUDJPY Elliott Wave Technical Analysis FUNCTION: Trend MODE: corrective STRUCTURE: red wave 2 POSITION: blue wave 1 DIRECTION NEXTLOWER DEGREES: red wave 3 DETAILS red wave 1 of blue wave 1 completed at 101.393 , now red wave 2 is in play . Wave Cancel invalid level:104.966 The AUD/JPY Elliott Wave Analysis for the 4-Hour Chart provides a technical outlook on the movement of the Australian Dollar against the Japanese Yen. It highlights the wave structure, current positioning, and anticipated market direction, which is crucial for traders and analysts. ### Function The analysis defines the function as "Trend," suggesting that the current market movement follows the prevailing trend rather than opposing it. This function is often characterized by more predictable price action, with clear impulse and corrective waves. ### Mode The mode is described as "corrective," indicating that the current wave pattern represents a correction within the broader trend. Corrective waves often occur in zigzags, flats, or other complex patterns, serving as a retracement before the trend resumes. ### Structure The structure is identified as "red wave 2," signaling that the current wave is part of a larger corrective phase within the impulse sequence. This correction phase can offer buying opportunities for trend-following traders. ### Position The position is "blue wave 1," indicating that the current corrective phase is part of a larger impulse sequence within the broader trend. This position suggests that the market may soon transition from correction to impulse, providing direction for future trades. ### Direction for the Next Lower Degrees The expected direction for the next lower degrees is "red wave 3," suggesting that once the current corrective phase completes, a new impulse wave (red wave 3) will likely emerge, driving the price movement in a more significant direction. ### Details The details section sheds light on the current state of the wave structure. According to the analysis, "red wave 1 of blue wave 1" is completed at 101.393. Currently, "red wave 2" is in play, indicating that the market is in the corrective phase of an overall uptrend. The "Wave Cancel invalid level" is set at 104.966, which means that if the price crosses this level, the current wave structure could be invalidated, suggesting a shift in market dynamics. In summary, the AUD/JPY Elliott Wave Analysis for the 4-Hour Chart suggests that the market is in a corrective phase within a broader trend. Red wave 1 of blue wave 1 is complete, and red wave 2 is now in play, potentially leading to a new impulse phase. The Wave Cancel invalid level is 104.966, providing a key reference point for market invalidation. This analysis is useful for traders seeking to understand the current market context and anticipate future movements. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

ASX: REECE LIMITED - REH Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with REECE LIMITED - REH. We have determined that wave (iv)-purple seems to have ended, and wave (v)-purple is being unfolded to push higher, towards the immediate target at around 30.00 - 31.10. ASX: REECE LIMITED - REH Elliott Wave Technical Analysis ASX: REECE LIMITED - REH 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave (v)-purple of Wave ((v))-green of Wave 3-red Details: The short-term outlook indicates that Wave (iv)-purple has ended as expected, and wave (v)-purple is being opened to push higher. It is targeting a goal of 31.10, while maintaining a price above 25.87 is advantageous and provides significant support for this view. Invalidation point: 25.87 ASX: REECE LIMITED - REH Elliott Wave Technical Analysis TradingLounge (4- Hour Chart) ASX: REECE LIMITED - REH Elliott Wave Technical Analysis ASX: REECE LIMITED - REH 4-Hour Chart Analysis Function: Major trend (Subminuette degree, blue) Mode: Motive Structure: Impulse Position: Wave ii-blue Details: The short-term outlook suggests that wave (iv)-purple appears to have concluded, and wave (v)-purple is being initiated. It subdivides into wave i-blue, which has completed, and wave ii-blue is currently unfolding to push slightly lower. Following this, wave iii-blue is expected to resume its upward movement, targeting the immediate goal around 30.00 - 31.10. Invalidation point: 25.87 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: REECE LIMITED - REH aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

Commodity Market Elliott Wave Analysis for Bitcoin, TLT Bonds, US 10 Yr. Yields, USD/ DXY, Gold, Silver, Copper, Uranium, Crude Oil, Natural Gas Commodity Market Elliott Wave Analysis Update: Dollar and Yields higher and gold, silver, bitcoin, eth/usd, copper, oil, and gas lower. and we can expect this weakness to continue over the next trading sessions. We also have the Fed's meeting and the Employment figures with the lead in private employment ADP figures in the next session. Video Chapters 00:00 Bitcoin (BTC) ETH/USD, GBTC ETF 07:54 US Dollar Index, DXY / TLT Bonds. US Gov Bonds 10 Yr Yields 10:40 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG 14:54 Base Metals:Lithium, Ore, Uranium URA ETF / Copper / 18:52 Energy: Crude Oil WTI OIL / Natural Gas NG / 23:14 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge.com

Elliott Wave Analysis TradingLounge Daily Chart Pokadot/ U.S. dollar(DOTUSD) DOTUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave C Direction Next higher Degrees: wave (II) of Impulse Wave Cancel invalid level: Details: Wave II Is equal to 61.8% of Wave I at 5.225 Pokadot/ U.S. dollar(DOTUSD)Trading Strategy: Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again. Pokadot/ U.S. dollar(DOTUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Elliott Wave Analysis TradingLounge H4 Chart Pokadot/ U.S. dollar(DOTUSD) DOTUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 4 Direction Next higher Degrees: wave C of Flat Wave Cancel invalid level: Details: A short-term pullback in wave 4 before falling again in wave 5. Pokadot/ U.S. dollar(DOTUSD)Trading Strategy: Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again. Pokadot/ U.S. dollar(DOTUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!

GX Uranium ETF (URA) Elliott Wave Analysis Function - Counter trend Mode - Corrective Structure - Zigzag for 4. Impulse for (A) Position - Wave 4 of (A) Direction - Wave 5 of (A) Details - Price continues to circle the 30 major level. We can now consider the blue wave ‘4’ of the primary degree to be a triangle Elliott wave pattern. Primary wave ’5’ (blue) is favored to break above 32.5. The GX Uranium ETF, a specialized exchange-traded fund (ETF), has been meticulously designed to capitalize on opportunities within the uranium industry. Uranium, a fundamental element in the production of nuclear energy, serves as the cornerstone of this ETF's investment strategy. By focusing on companies deeply entrenched in the uranium sector, ranging from miners to producers and exploration firms, the GX Uranium ETF aims to offer investors a conduit to the burgeoning potential of this industry. Over the past three months, spanning from February to April of 2024, the GX URA ETF has demonstrated a lateral movement in its price action. However, preceding this phase, the ETF embarked on a robust upward trajectory commencing from March 2023, and extending until the onset of February 2024. Remarkably, during this period, the ETF surged by an impressive 77%, only to encounter a sharp downturn, followed by a consolidation phase near the pivotal 30 major level. A discerning analysis of the daily chart unveils a compelling narrative of bullish momentum characterized by an impulse wave originating from July 2022. This bullish wave culminated in the completion of the third leg, denoted as the primary degree wave 3 (circled blue). Presently, the ETF finds itself ensconced within a lateral movement since the 1st of April, which corresponds to the emergence of the fourth wave, identified as the primary degree wave 4 (circled blue). This consolidation phase, while seemingly stagnant, portends an imminent breakout, heralding the resumption of the bullish trend and the charting of fresh highs for the year 2024. Zooming in on the H4 chart, the primary degree wave 4 appears to be nearing the culmination of a triangle pattern. Notably, the low of wave (C) serves as the critical level of invalidation, situated at 28.01. Unless the price breaches this crucial threshold, the prevailing bullish sentiment retains its potency, poised to propel the ETF towards its next peak after the completion and subsequent breakout of the triangle pattern, potentially targeting the 32.59 high. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

GBPAUD Elliott Wave Analysis Trading Lounge Day Chart, British Pound/ Australian Dollar (GBPAUD) Day Chart GBPAUD Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE Blue wave 😄 POSITION:black wave 2 DIRECTION NEXT HIGHER DEGREES:black wave 3 DETAILS: red wave C of B looking completed , now blue wave C of 2 is in play . Wave Cancel invalid level: 1.99747 The GBPAUD Elliott Wave Analysis for the Day Chart offers insights into the ongoing corrective movements in the British Pound/Australian Dollar (GBPAUD) pair. This analysis details the current wave structure and provides key information for traders seeking to understand potential trend reversals or continuations. ### Function The analysis describes the function as "Counter Trend," suggesting that the current market movement opposes the broader trend. This is a critical indication for traders who may be considering short-term trades within a larger trend context. ### Mode The mode is categorized as "Corrective," which indicates that the current wave pattern is part of a larger correction phase. Corrective waves tend to be more complex and less directional, often comprising various sub-waves that challenge the prevailing trend. ### Structure The structure is identified as "Blue wave C," indicating that the market is in the final stages of a corrective phase. This phase often precedes a shift in trend direction or the start of a new impulse wave sequence. ### Position The position within the wave structure is described as "black wave 2." This indicates that the current corrective wave is nearing completion, signaling that a new wave sequence, possibly an impulse wave, might be forming. ### Direction for the Next Lower Degrees The expected direction for the next lower degrees is "black wave 3." This suggests that after the current corrective phase, there could be a strong impulse wave, leading to significant directional movement in the market. ### Details The details section provides a deeper look into the current phase of the wave structure. According to the analysis, red wave C of B is considered completed, signaling the end of this specific wave sequence. Now, blue wave C of 2 is in play, indicating that the final corrective wave is unfolding. The "Wave Cancel invalid level" is set at 1.99747, which is a crucial reference point. If the price crosses this level, the current wave structure could be invalidated, suggesting a different interpretation. In summary, the GBPAUD Elliott Wave Analysis for the Day Chart indicates a counter-trend movement with a corrective mode. The red wave C of B is complete, and the blue wave C of 2 is now in play. The analysis points to a potential shift in market trends, with the invalidation point set at 1.99747. This analysis serves as a guide for traders looking to navigate the corrective phase and anticipate future market trends. GBPAUD Elliott Wave Analysis Trading Lounge 4 Hour Chart, British Pound/ Australian Dollar (GBPAUD) 4 Hour Chart GBPAUD Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: impulsive STRUCTURE Blue wave 😄 POSITION:black wave 2 DIRECTION NEXT LOWER DEGREES:black wave 3 DETAILS: red wave C of B looking completed , now blue wave C of 2 is in play . Wave Cancel invalid level: 1.90459 The GBPAUD Elliott Wave Analysis for the 4-Hour Chart provides insights into the counter-trend movements within the Elliott Wave framework. It outlines the expected wave structures, mode, and invalidation points, indicating areas of potential trend reversal or continuation. ### Function The analysis specifies the function as "Counter Trend," suggesting that the current market movement is in opposition to the prevailing broader trend. This information is useful for traders looking to identify corrective phases where reversals or minor trends occur. ### Mode The mode is described as "impulsive," indicating that the market movements are characterized by strong momentum and rapid shifts within the defined wave structure. This behavior is typical during phases where trends exhibit clear directionality. ### Structure The structure is defined as "Blue wave C," indicating that the analysis is observing the final wave in a corrective sequence. The completion of this wave generally leads to the beginning of a new cycle or a reversal in trend direction. ### Position The position within the wave structure is "black wave 2." This position signifies a pivotal point within a broader corrective phase, indicating that a new wave sequence might be forming or in progress. ### Direction for the Next Lower Degrees The expected direction for the next lower degrees is "black wave 3," suggesting that the analysis anticipates a significant shift toward a new impulse wave in the broader trend. This can lead to a strong directional movement in the market. ### Details The details offer a more in-depth look at the current phase of the wave structure. The red wave C of B is observed to be completed, signaling the end of a specific wave sequence. Now, the blue wave C of 2 is currently in play, suggesting that the final stages of this corrective structure are unfolding. The "Wave Cancel invalid level" is set at 1.90459, which is a crucial point for validating or invalidating the current wave structure. Crossing this level would suggest a different interpretation of the Elliott Wave structure. In summary, the GBPAUD Elliott Wave Analysis for the 4-Hour Chart points to a counter-trend movement with an impulsive mode. The analysis indicates that red wave C of B has concluded, leading to blue wave C of 2. This shift suggests that the market is nearing the end of the corrective phase, with an invalidation point at 1.90459. The analysis provides a roadmap for traders seeking to understand the current phase and anticipate future market movements. Technical Analyst : Malik Awais

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 3-red Details: The short-term outlook suggests that the 2-red wave appears to have recently completed as a Double Zigzag correction, and the 3-red wave may be ready to push higher. Further upward movement would confirm this outlook. Invalidation point: 140.50 ASX: REA GROUP LTD – REA Elliott Wave Technical Analysis TradingLounge (4- Hour Chart) ASX: REA GROUP LTD – REA Elliott Wave Technical Analysis ASX: REA GROUP LTD – REA 4-Hour Chart Analysis Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave (iii)-purple Details: The near-term outlook suggests that the 2-red wave has concluded in the form of a Double Zigzag pattern at the low of 172.49, allowing for the possibility of the 3-red wave to resume and push higher. Currently, it is subdivided into the (i) and (ii)-purple waves, and it appears that the (ii)-purple wave has recently ended. The (iii)-purple wave may now be unfolding to push higher. Invalidation point: 172.49 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: REA GROUP LTD – REA aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge Daily Chart NEO/ U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave B Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level NEO/ U.S. dollar(NEOUSD)Trading Strategy: Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again. NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Elliott Wave Analysis TradingLounge H4 Chart NEO/ U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave B Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level NEO/ U.S. dollar(NEOUSD)Trading Strategy: Second wave correction before rising again in the third wave with a flat pattern. The current status is a short-term pullback in wave B before falling again in wave C, so wait for the correction to complete to join the uptrend again. NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bullish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!

Soybeans Elliott Wave Analysis Function - Trend Mode - Impulse Structure - Impulse for (5) Position - Wave 2 of (5) Direction - Wave 3 of (5) Details - Wave 2 of (5) may have been completed and the price is currently in 3. A break below 1144 will confirm further provided the current rally does not develop above 1226. Not much has changed since the last update. In the intricate dance of market movements, April has presented a mixed picture for Soybean prices. The month witnesses an intriguing unwinding of gains accrued in the first half, juxtaposed against a downward trajectory in the latter part. This shift in momentum comes amidst a broader context where, following a recovery phase throughout much of March, Soybean finds itself relinquishing those hard-won gains. The commodity now stands at the precipice, its gaze fixed on breaching key support levels as it appears poised to extend the bearish sequence initiated back in June 2022. Delving into the daily chart, a compelling narrative emerges. Since June 2022, Soybean has been entrenched in a formidable bearish cycle, commencing at $1785. Over this period, prices have experienced a relentless descent, shedding over 34% along the way. Yet, within this downward spiral lies a deeper story—a correction unfolding against the backdrop of a prior bullish impulse rally that spanned from May 2019 to June 2022. This correction, while tempering short-term optimism, holds the promise of paving the way for a resumption of the long-term bullish trend once its corrective phase reaches its denouement. Nevertheless, the path ahead remains veiled in uncertainty, with the prospect of continued downside correction lingering for several weeks. Through the lens of Elliott wave theory, this corrective cycle manifests as a zigzag pattern denoted by waves A-B-C (circled in blue) of the primary degree, with the current descent representing wave (5) of blue wave C. Zooming in on the H4 chart, a microcosm of price action unfolds. Here, wave (4) finds its terminus at 1226, heralding the inception of wave (5). The initial salvo of wave 1 of (5) culminates in a diagonal pattern at 1140 in April 2024, preceding the current phase of corrective rebound encapsulated within wave 2. Confirmation of wave 2's conclusion hinges upon the breach of the 1140 threshold, signifying the onset of wave 3. Yet, this anticipated trajectory stands vulnerable to disruption should the ongoing rally breach the high of wave (4) at 1226, thereby invalidating the current wave count. Thus, as Soybean charts its course amid the ebb and flow of market dynamics, the intricacies of Elliott wave analysis offer a lens through which to decipher its unfolding journey. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

USD/CHF Elliott Wave Analysis Trading Lounge Day Chart, U.S.Dollar/Swiss Franc (USD/CHF) Day Chart USD/CHF Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE: blue wave 5 POSITION: black wave 1 DIRECTION NEXT HIGHER DEGREES:blue wave 5(continue) DETAILS:blue wave 4 of 1 looking completed at 0.90111,now blue wave 5 of 1 is in play . Wave Cancel invalid level: 0.90111 The USD/CHF Elliott Wave Analysis for the Day Chart provides an overview of the anticipated movements within the Elliott Wave structure, focusing on the prevailing trend, impulsive behavior, and key levels where shifts in market direction may occur. ### Function The analysis identifies the function as "Trend," indicating that the market is displaying a consistent directional movement. This suggests that traders should be focused on identifying trends and following them to maximize opportunities. ### Mode The mode is described as "impulsive," indicating rapid, strong movements within the wave structure. This suggests that the current phase is characterized by substantial momentum, which is typically seen in strong trending markets. ### Structure The structure is defined as "blue wave 5," representing the fifth and final wave in an impulsive sequence. This stage typically marks the culmination of a broader upward or downward trend before a corrective phase ensues. ### Position The position is noted as "black wave 1," indicating the starting point of a new cycle within the larger structure. This position aligns with a fresh beginning after the completion of a corrective phase or a significant market shift. ### Direction for the Next Higher Degrees The expected direction for the next higher degrees is "blue wave 5 (continue)," which suggests that the ongoing wave has not yet concluded and is expected to carry on. This continuation can result in significant directional movement. ### Details The details offer deeper insights into the current phase of the Elliott Wave structure. Blue wave 4 of black wave 1 is seen as complete, signaling the end of a corrective phase. This completion sets the stage for blue wave 5 of black wave 1, indicating a return to impulsive behavior with robust momentum. The "Wave Cancel invalid level" is set at 0.90111, which serves as a key reference point. If the market moves past this level, it would invalidate the current wave structure and require a re-evaluation of the analysis. Overall, the USD/CHF Elliott Wave Analysis for the Day Chart indicates an ongoing trend with impulsive movements in blue wave 5. The blue wave 4 of black wave 1 has likely ended, suggesting that blue wave 5 of 1 is in play, representing strong market momentum. The wave cancel invalid level at 0.90111 is crucial for confirming or invalidating the current interpretation of the wave structure. CHF Elliott Wave Analysis Trading Lounge 4 Hour Chart, U.S.Dollar/Swiss Franc (USD/CHF) 4 Hour Chart USD/CHF Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE: red wave 3 POSITION: blue wave 5 DIRECTION NEXT LOWER DEGREES:red wave 4 DETAILS:red wave 2 of 5 looking completed or near to end ,now looking for red wave 3 of 5 . Wave Cancel invalid level: 0.90111 The USD/CHF Elliott Wave Analysis for the 4-Hour Chart provides insights into the expected movements within the Elliott Wave structure, offering traders an understanding of the current trend, impulsive behavior, and key levels for potential market shifts. ### Function The function is defined as "Trend," indicating that the market is demonstrating a clear direction, with the analysis focusing on identifying and understanding this prevailing trend. ### Mode The mode is labeled as "impulsive," suggesting strong, directional price movements. This characteristic is often associated with sharp upward or downward moves within the Elliott Wave structure, indicative of an ongoing trend. ### Structure The structure is identified as "red wave 3," pointing to the third wave in the broader Elliott Wave sequence. This phase typically exhibits the strongest momentum and drives the broader trend. ### Position The position is specified as "blue wave 5," indicating that the analysis centers on a specific sub-wave within the larger structure. This positioning typically aligns with the final phase of an impulsive wave, leading into a corrective wave. ### Direction for the Next Lower Degrees The expected direction for the next lower degrees is "red wave 4," which generally represents a corrective phase following a significant impulsive move. This direction suggests that once the current impulsive wave concludes, the market may enter a consolidation or retracement period before the next major wave. ### Details The details offer more granular information about the current structure and its progression. Red wave 2 of 5 is believed to be completed or nearing its end, signaling the conclusion of a corrective phase within blue wave 5. This leads to the anticipation of red wave 3 of 5, suggesting a return to impulsive behavior with significant directional movement. The "Wave Cancel invalid level" is set at 0.90111, indicating that if the market breaches this level, it would invalidate the current wave interpretation, leading to a new analysis of the market's direction. Overall, the USD/CHF Elliott Wave Analysis for the 4-Hour Chart points toward an ongoing trend with impulsive movement in red wave 3. This suggests a strong upward or downward momentum within the larger Elliott Wave structure, with red wave 2 of 5 either completed or close to its end, indicating the commencement of red wave 3 of 5. The wave cancel invalid level at 0.90111 acts as a key threshold for confirming or invalidating the current wave structure. 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) WISETECH GLOBAL LIMITED – WTC. We have determined that wave (iv)-purple has ended and wave (v)-purple is opened to push higher. ASX: WISETECH GLOBAL LIMITED – WTC Elliott Wave Technical Analysis ASX: WISETECH GLOBAL LIMITED – WTC Chart (Semilog Scale) Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave (v)-purple of Wave ((iii))-green Details: The short-term outlook indicates that the (iv)-purple wave has just concluded, and the (v)-purple wave may unfold to push higher, targeting 100.60. It's crucial for the price to consistently remain above the level of 86.77 to support this perspective. Invalidation point: 76.48 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, blue) Mode: Motive Structure: Impulse Position: Wave ii-blue Details: The short-term outlook suggests that the (iv)-purple wave has recently completed, and now it's time for the (v)-purple wave to unfold upwards. It's currently subdividing into the i and ii-blue waves, with the iii-blue wave potentially resuming soon to continue pushing higher, targeting 100.00. Invalidation point: 86.77 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, Binance/ U.S. dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triangle Position: Wave ((D)) Direction Next higher Degrees: wave 4 Wave Cancel invalid level: 508 Details: Correction in Triangle pattern before rising again in Wave 5. Binance/ U.S. dollar(BNBUSD)Trading Strategy: The short-term correction in Wave 4 with the Triangle pattern continues. Because there is still another decrease in wave E before an increase in wave 5, so wait for the correction to complete to look for opportunities to join the trend again. Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Elliott Wave Analysis TradingLounge H4 Chart, Binance/ U.S. dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triangle Position: Wave ((D)) Direction Next higher Degrees: wave 4 Wave Cancel invalid level: 508 Details: Correction in Triangle pattern before rising again in Wave 5. Binance/ U.S. dollar(BNBUSD)Trading Strategy: The short-term correction in Wave 4 with the Triangle pattern continues. Because there is still another decrease in wave E before an increase in wave 5, so wait for the correction to complete to look for opportunities to join the trend again. Binance/ U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an uptrend. The Wave Oscillator is a Bullish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!

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

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

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

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

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

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

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