tradinglounge

USD/CHF Elliott Wave Analysis Trading Lounge Day Chart, U.S.Dollar/Swiss Franc (USD/CHF) Day Chart USD/CHF Elliott Wave Technical Analysis DXY Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE: blue wave 5 POSITION: black wave 1 DIRECTION NEXT LOWER DEGREES: black wave 2 DETAILS:blue wave 4 of 1 looking completed at 0.90085,now blue wave 5 of 1 is in play . Wave Cancel invalid level: 0.88948 The USD/CHF Elliott Wave Analysis for the day chart provides insights into the potential price movements of the U.S. Dollar against the Swiss Franc, utilizing Elliott Wave principles for technical analysis. Identified as a "Trend," the analysis suggests that the prevailing market direction aligns with the broader trend, indicating potential opportunities for traders to participate in the direction of the trend. Described as "Impulsive" in mode, the analysis indicates that the current market movement exhibits characteristics of an impulsive wave pattern. This implies that the price is likely advancing in the direction of the trend with strong momentum, potentially offering trading opportunities for trend-following strategies. The "STRUCTURE" is labeled as "blue wave 5," providing clarity on the current phase of the Elliott Wave cycle. This helps traders understand the stage of the trend and anticipate potential reversal points or continuation patterns. Positioned as "black wave 1," the analysis highlights the specific phase of the Elliott Wave cycle within the current trend. This indicates that the market has completed a wave cycle and is potentially starting a new wave cycle in the direction of the trend. In the "DIRECTION NEXT LOWER DEGREES" section, the analysis mentions "black wave 2," suggesting the potential direction for the next lower-degree wave within the Elliott Wave cycle. This implies that the market may experience a corrective wave before continuing its upward movement. The "DETAILS" section notes that "blue wave 4 of 1 looking completed at 0.90085, now blue wave 5 of 1 is in play." This suggests that the corrective wave within the current wave cycle has potentially ended, and the market is now resuming its upward movement. Additionally, the wave cancel level is identified at 0.88948, providing a reference point for invalidating the wave count. Traders can utilize this information to assess potential trading opportunities and manage risk effectively. USD/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 DXY Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE: blue wave 5 POSITION: black wave 1 DIRECTION NEXT HIGHER DEGREES:blue wave 5(may started) DETAILS:blue wave 4 of 1 looking completed at 0.90085,now blue wave 5 of 1 is in play . Wave Cancel invalid level: 0.88948 The USD/CHF Elliott Wave Analysis for the 4-hour chart provides insights into the potential price movements of the U.S. Dollar against the Swiss Franc, employing Elliott Wave principles for technical analysis. Identified as a "Trend," the analysis suggests that the prevailing market direction aligns with the broader trend, indicating potential opportunities for traders to participate in the direction of the trend. Described as "Impulsive" in mode, the analysis indicates that the current market movement exhibits characteristics of an impulsive wave pattern. This implies that the price is likely advancing in the direction of the trend with strong momentum, potentially offering trading opportunities for trend-following strategies. The "STRUCTURE" is labeled as "blue wave 5," providing clarity on the current phase of the Elliott Wave cycle. This helps traders understand the stage of the trend and anticipate potential reversal points or continuation patterns. Positioned as "black wave 1," the analysis highlights the specific phase of the Elliott Wave cycle within the current trend. This indicates that the market has completed a wave cycle and is potentially starting a new wave cycle in the direction of the trend. In the "DIRECTION NEXT HIGHER DEGREES" section, the analysis mentions "blue wave 5 (may have started)," suggesting the potential direction for the next higher-degree wave within the Elliott Wave cycle. This implies that the market may continue its upward movement, supporting the overall bullish trend. The "DETAILS" section notes that "blue wave 4 of 1 looking completed at 0.90085, now blue wave 5 of 1 is in play." This suggests that the corrective wave within the current wave cycle has potentially ended, and the market is now resuming its upward movement. Additionally, the wave cancel level is identified at 0.88948, providing a reference point for invalidating the wave count. Traders can utilize this information to assess potential trading opportunities and manage risk effectively. 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. In our Top 50 ASX Stocks forecasting service, NAB's price decline was accurately forecast, significantly reducing risk for investors. We are currently closely monitoring NAB for a further trading opportunity. 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 (c)-purple of Wave ((iv))-green Details: The short-term outlook describes that waves ((i))-green through ((iii))-green have concluded, and wave ((iv))-green is now unfolding. A common retracement target for wave 4 is at the 0.382 level, so I anticipate that wave ((iv)) will continue to decline to lower levels, while prices consistently remain below 36.11, which would increase confidence in this perspective. Invalidation point: 29.84 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: Counter trend (Minuette degree, purple) Mode: Corrective Structure: Regular Flat Position: Wave v-blue of Wave (c)-purple Details: The short-term outlook suggests that the ((iv))-green wave is unfolding with higher detail. This could potentially be a Flat Correction (3-3-5) pattern, with waves (a) and (b)-purple already completed. Now, wave (c)-purple is likely to unfold, pushing lower. It is subdividing into five smaller waves, with at least waves i-blue to iv-blue identified. This implies that wave v-blue is completing its role. Following this, we may see the return of the ((v))-green wave pushing higher. Invalidation point: 33.67 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 Cardano/ U.S. dollar(ADAUSD) ADAUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave C Direction Next higher Degrees: wave (II) of Impulse Wave Cancel invalid level: Details: Wave II Is equal to 61.8% of Wave I at 0.358 Cardano/ U.S. dollar(ADAUSD)Trading Strategy: The second wave correction is likely to go down to test the 0.356 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. Cardano/ U.S. dollar(ADAUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H4 Chart, Cardano/ U.S. dollar(ADAUSD) 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 Cardano/ U.S. dollar(ADAUSD)Trading Strategy: The second wave correction is likely to go down to test the 0.356 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. Cardano/ U.S. dollar(ADAUSD)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!

KO Elliott Wave Analysis Trading Lounge Daily Chart, The Coca-Cola Company, (KO) Daily Chart KO Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Flat POSITION: Minute wave {c} of 2. DIRECTION: Bottom in wave {c}. DETAILS: With yesterday’s session we’ve had a spike in volume on the bull side, which could make us start thinking the correction is either completed, or soon to be. We have almost reached 1.618 {c} vs. {a}., but more importantly we have reached the base of the leading diagonal in wave 1, where many times support is found. KO Elliott Wave Analysis Trading Lounge 4Hr Chart, The Coca-Cola Company, (KO) 4Hr Chart KO Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Flat POSITION: Wave (v) of {c}. DIRECTION: Bottom in wave (v). DETAILS: Here on the intraday chart it’s easier to see the five wave move in wave {c} which seems to have unfolded nicely. Looking for a clear sign of a bottom in place. As of April 18, 2024, Elliott Wave analysts closely monitor the daily and 4-hour charts of The Coca-Cola Company (Ticker: KO) to provide insightful technical forecasts. These Elliott Wave predictions play a crucial role in identifying potential trends and reversal points in the stock's price movement. * KO Elliott Wave Technical Analysis – Daily Chart* The Elliott Wave analysis on the daily chart of Coca-Cola shows a corrective phase within a flat structure, identified as minute wave {c} of 2. This phase is categorized under a counter trend function, suggesting that the ongoing correction is approaching completion. The recent trading session marked a significant increase in volume on the bullish side, hinting at a nearing end to the correction. Technically, the price has approached the critical 1.618 Fibonacci extension of wave {c} relative to {a}, reaching a key support level at the base of the leading diagonal from wave 1—a typical zone for finding support. * KO Elliott Wave Technical Analysis – 4hr Chart* On the 4-hour chart, Coca-Cola’s stock exhibits a detailed structure of the corrective phase, clearly depicting wave (v) of {c}. This finer resolution allows for a clearer visualization of the complete five-wave move within wave {c}, indicating the likelihood of a bottom formation. Analysts are keenly observing for definitive signs that confirm the bottom is firmly in place, signaling potential bullish reversals. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!

WTI Elliott wave analysis Function - Counter-trend Mode - Corrective Structure - Zigzag Position - Wave (iii) of 1 Direction - Wave (iii) of 1 still in play Details - We discussed two scenarios in the last update. After 84 was breached, we can confirm wave (B) has ended. Now we need further confirmation with the current decline ending impulse. With the speed of this decline, it will most likely be, barring any surprises. Thus, the bearish impulse for wave 1 is underway. WTI has undergone a notable decline of almost 7% since reaching its 2024 peak in August. This descent appears rapid and impulsive, suggesting the possible conclusion of the four-month bullish correction or perhaps a corrective phase within it. The former scenario seems more plausible, especially when considering the alignment with price movements on higher time frames. From a long-term perspective, the commodity is in the process of correcting the significant impulse wave from April 2020 to March 2022, which marked its resilience against the challenges posed by the COVID-19 pandemic. This correction commenced in March 2022 and is still ongoing, with projections indicating a potential further decline to the range of $46-50. Analyzing the daily chart, we can discern the entirety of the correction, identifying a double zigzag structure denoted as the blue wave W-X-Y. Waves W and X concluded at 64.5 and 95, respectively. Currently, wave Y (marked in blue circles) is unfolding downward, displaying a zigzag pattern. Wave (A) of Y terminated at 67.81, followed by a surge for wave (B), seemingly completing a double zigzag at 87.67. This implies the likelihood of witnessing another zigzag or double zigzag for (C) of blue Y, indicating a probable breach of the 64.5 low in the long term. Failure to do so may still result in at least a three-wave dip to 75. Moving forward, the focus will be on monitoring the ongoing bearish reaction, with close attention paid to developments on the H4 chart. Turning to the H4 chart, anticipation centers on a downward impulse to complete wave 1 or A, possibly even to fulfill the initial sub-waves of 1 or A. The specific degree of these waves may not hold significant relevance at this juncture; instead, the emphasis lies on the current price structure. Should the price conform to the expected bearish impulse, a subsequent corrective bounce is anticipated, offering a potentially favorable entry point for selling. As long as the price remains below 87.63, expectations lean towards further declines in the near term. Technical Analyst : Sanmi Adeagbo 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 B POSITION: blue wave X DIRECTION NEXT HIGHER DEGREES:red wave C of X DETAILS: red wave b of blue wave X looking still is in play as triangle .. Wave Cancel invalid level: 0.85001 The EUR/GBP Elliott Wave Analysis for the day chart provides a comprehensive overview of the potential price movements for the Euro against the British Pound, utilizing Elliott Wave principles for technical analysis. Identified as a "Counter Trend," the analysis indicates that the current market direction opposes the prevailing trend. This suggests that the EUR/GBP pair may be undergoing a temporary corrective phase, providing opportunities for traders who anticipate a reversal in the broader trend. Described as "Corrective" in mode, the analysis suggests that the ongoing market movement exhibits characteristics of a corrective wave. This implies that the current price action may represent a temporary retracement or consolidation within the larger trend, rather than a continuation of the primary trend. The "STRUCTURE" is labeled as "red wave B," providing clarity on the current phase of the Elliott Wave cycle. This helps traders understand the nature of the corrective movement and its potential implications for future price action. Positioned as "blue wave X," the analysis highlights the specific phase of the Elliott Wave cycle within the current corrective movement. This indicates that the market is 2 / 2 currently in a corrective phase following the completion of a previous wave cycle, potentially indicating a complex correction pattern. In the "DIRECTION NEXT HIGHER DEGREES" section, the analysis mentions "red wave C of X," suggesting the anticipated direction for the subsequent higher-degree wave within the Elliott Wave cycle. This implies that the market may experience another corrective phase following the completion of the current corrective wave, providing insights into potential future price movements. The "DETAILS" section notes that "red wave b of blue wave X looking still is in play as a triangle." This suggests that the ongoing corrective wave may be taking the form of a triangle pattern, characterized by overlapping price movements and diminishing volatility. Additionally, the wave cancel level is identified at 0.85001, providing a reference point for invalidating the wave count. Traders can utilize this information to evaluate potential trading opportunities and manage risk effectively. 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:Corrective STRUCTURE: red wave B POSITION: blue wave X DIRECTION NEXT HIGHER DEGREES:red wave C of X DETAILS: red wave b of blue wave X looking still is in play as a triangle . Wave Cancel invalid level: 0.85001 The EUR/GBP Elliott Wave Analysis for the 4-hour chart provides insights into the potential price movements of the Euro against the British Pound, employing Elliott Wave principles for technical analysis. Identified as a "Counter Trend," the analysis suggests that the current market movement opposes the prevailing trend. This indicates that the EUR/GBP pair may be undergoing a temporary corrective phase against the dominant trend direction, presenting potential trading opportunities for contrarian traders. Described as "Corrective" in mode, the analysis indicates that the ongoing market movement exhibits characteristics of a corrective wave. This suggests that the current price action may represent a temporary pause or retracement within the broader trend, rather than a continuation of the primary trend. The "STRUCTURE" is labeled as "red wave B," providing clarity on the current phase of the Elliott Wave cycle. This assists traders in understanding the nature of the corrective movement and its potential impact on future price action. Positioned as "blue wave X," the analysis highlights the specific phase of the Elliott Wave cycle within the current corrective movement. This suggests that the market is currently in the corrective phase following the completion of a previous wave cycle, potentially indicating a complex correction pattern. In the "DIRECTION NEXT HIGHER DEGREES" section, the analysis mentions "red wave C of X," indicating the anticipated direction for the subsequent higher-degree wave within the Elliott Wave cycle. This suggests that the market may experience a subsequent corrective phase following the completion of the current corrective wave, offering insights into future price movements. The "DETAILS" section notes that "red wave b of blue wave X looking still is in play as a triangle." This suggests that the ongoing corrective wave may be taking the form of a triangle pattern, characterized by overlapping price movements and diminishing volatility. Additionally, the wave cancel level is noted at 0.85001, serving as a reference point for invalidating the wave count. Traders may use this information to assess potential trading opportunities and manage risk accordingly. Technical Analyst : Malik Awais 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 H8 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!

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 determine that MIN may be correcting with wave ((2))-red for a while longer, after which wave ((3))-red may return to continue pushing 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 shorter-term outlook indicates that both wave (1)-blue and wave (2)-blue have concluded, with wave (3)-blue initiated since the low at 52.52. The anticipated direction is upwards, initially targeting 75.23, and a break beyond this level would extend towards 84.03, while maintaining levels below 65.36 is a significant advantage and a strong resistance level for 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 (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave ((3))-red of Wave iii-blue of Wave (iii)-purple Details: The further short-term outlook shows that wave iii-blue is unfolding, and it is subdividing into wave ((1))-red, and perhaps it has recently peaked, now is the time for wave ((2) )-red opens to push lower, it may find support around 66.78 - 65.36, and after it ends, wave ((3))-red may return to push even higher . Invalidation point: 64.82 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).

Stock Market Report S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200. Elliott Wave Technical Analysis In our ongoing Elliott Wave analysis of key indices, including the S&P 500 and NASDAQ 100, it appears that the markets have not yet bottomed out. I plan to carefully watch for signs of support formation later on Thursday, which could signify reaching the lows. It's crucial to then observe whether the trading on Friday closes higher. Should this pattern not emerge, we might have to brace for a more extensive corrective phase. Consequently, I'll avoid making any hasty bearish moves and will instead monitor the market's performance towards the end of the week before making any trading decisions. Video Chapters 00:00 SP 500 (SPX) 03:12 NASDAQ (NDX) 10:00 Russell 2000 (RUT) 12:42 DAX 40 (DAX) 16:33 FTSE 100 UKX (UK100) 18:48 S&P/ASX 200 (XJO) 23:11 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com

GX Uranium ETF (URA) Elliott Wave Analysis Function - Counter trend Mode - Corrective Structure - Emerging Zigzag Position - Red wave (C) of blue 4 Direction - Red wave (C) of blue 4 is still in play Details - Price broke blow 30. Wave (C) was confirmed by the break below 29.26. Should extend toward 25.94. The GX Uranium ETF is an exchange-traded fund (ETF) that focuses on investing in companies involved in the uranium industry. Uranium is a key component in nuclear power generation, and its demand is influenced by factors such as global energy needs, environmental concerns, and government policies regarding nuclear power. Recent market movements have seen the GX Uranium ETF undergo a bearish correction, with a decline exceeding 5% over the current trading week. This downturn commenced on February 1st, 2023, and is anticipated to persist in the short term before encountering a support level, heralding the onset of renewed upward momentum. Notably, this correction unfolds within the broader context of a bullish trend that commenced in March 2022. Despite enduring an over 8-month pullback between November 2021 and July 2022, the ETF has steadily ascended, reaching its loftiest valuation since April 2014. Consequently, post the prevailing retracement, a resumption of the bullish trajectory is anticipated. Analyzing the daily time frame reveals a discernible bullish impulse of the cycle degree (marked in blue) after the supercycle wave (b). The termination of the 3rd wave - designated as blue wave 3 - occurred in February 2023, characterized by a diagonal pattern, followed by the onset of the corresponding 4th wave. This 4th wave manifests as a zigzag pattern, navigating through wave (C) after completing wave (B) via an expanding diagonal. To maintain the integrity of the overall impulse structure, the 4th wave - delineated as blue wave 4 - must remain above the critical level of 24.36. Expectations converge on buyers eagerly awaiting the conclusion of wave (C) to propel the bullish momentum into the 5th wave. Examining the H4 chart illuminates the sub-waves of (A)-(B)-(C) and the emergence of wave (C). The initial target for wave (C) aligns with the 100% extension of wave (A) at 25.94, slightly above the psychological barrier of 25. Traders are thus advised to anticipate the culmination of wave (C) within the 25.94-25 zone, paving the way for subsequent rallies. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

TJX Elliott Wave Analysis Trading Lounge Daily Chart, April 17 2024 The TJX Companies Inc., (TJX) Daily Chart TJX Elliott Wave Technical Analysis FUNCTION: CounterTrend MODE: Corrective STRUCTURE: ZigZag POSITION: Minute wave {iv}. DIRECTION: Bottom in wave {iv}. DETAILS: As we seem to be unfolding in Minor wave 5, we have found resistance at TL1 at 100$, and we will not look for long trades before we will found support on 100$. TJX Elliott Wave Analysis Trading Lounge 4H Chart, April 17 2024 The TJX Companies Inc., (TJX) 4H Chart TJX Elliott Wave Technical Analysis FUNCTION: CounterTrend MODE: Corrective STRUCTURE: ZigZag POSITION: Wave (c) of {iv}. DIRECTION: Bottom in wave (c). DETAILS: I outlined equality of wave {ii} and {iv}, as correction of the same degree will tend towards equality, at 89$. We can clearly we demand at that level, looking to see at least a reaction. Here's an Elliott Wave perspective on The TJX Companies Inc. (TJX) as of April 17, 2024, detailed through analyses on both the daily and 4-hour charts: * TJX Elliott Wave Technical Analysis – Daily Chart* TJX is currently positioned in a countertrend, corrective phase under a ZigZag structure, specifically in Minute wave {iv}. This indicates a potential bottom forming in wave {iv}. Currently, resistance was encountered at TL1, located at $100. The analysis suggests caution, recommending against initiating long positions until a support is clearly established at or near $100, indicating the completion of wave {iv} and a potential setup for the subsequent upward move in Minor wave 5. * TJX Elliott Wave Technical Analysis – 4hr Chart* On the 4-hour chart, TJX is seen in the final stages of its corrective phase, specifically in wave (c) of {iv}. This detailed view continues with the ZigZag corrective pattern, focusing on the price action towards a potential bottom. The chart notes the price target of $89, where the wave (c) could find equality with wave (ii) — a common scenario in corrections of the same degree. There's a noted demand at this level, suggesting that a reversal or significant reaction could be expected soon. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!

GBPJPY Elliott Wave Analysis Trading Lounge Day Chart, British Pound/Japanese Yen(GBPJPY) Day Chart GBPJPY Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE:corrective STRUCTURE: black wave A POSITION: red wave 4 DIRECTION NEXT HIGHER DEGREES:black wave B DETAILS: red wave 3 completed at 193.567, now black wave A of 4 is in play. Wave Cancel invalid level: 193.567 The GBP/JPY Elliott Wave Analysis for the daily chart offers insights into the potential price movements of the British Pound against the Japanese Yen, utilizing Elliott Wave principles for technical analysis. Identified as a "Counter Trend," the analysis suggests that the current market movement is contrary to the prevailing trend. This indicates that the GBP/JPY pair may be undergoing a temporary corrective phase against the dominant trend direction. Described as "Corrective" in mode, the analysis indicates that the current market movement exhibits characteristics of a corrective wave. This suggests that the ongoing price action may represent a temporary pause or retracement within the broader trend. The "STRUCTURE" is labeled as "black wave A," providing clarity on the current phase of the Elliott Wave cycle. This assists traders in understanding the nature of the corrective movement and its potential impact on future price action. Positioned as "red wave 4," the analysis highlights the specific phase of the Elliott Wave cycle within the current corrective movement. This suggests that the market is currently in the fourth wave of the larger corrective sequence, indicating a temporary counter-trend movement. In the "DIRECTION NEXT HIGHER DEGREES" section, the analysis mentions "black wave B," indicating the anticipated direction for the subsequent higher-degree wave within the Elliott Wave cycle. This suggests that the market may experience a subsequent corrective phase following the completion of the current corrective wave. The "DETAILS" section notes that "red wave 3 completed at 193.567, now black wave A of 4 is in play." This suggests that the previous corrective wave has concluded, and the market is now in the initial phase of the current corrective movement within the broader fourth wave. Additionally, the wave cancel level is noted at 193.567, serving as a reference point for invalidating the wave count. Traders may use this information to assess potential trading opportunities and manage risk accordingly. GBPJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, British Pound/Japanese Yen(GBPJPY) 4 Hour Chart GBPJPY Elliott Wave Technical Analysis FUNCTION: Trend MODE:impulsive STRUCTURE: red wave 1 POSITION: blue wave 3 DIRECTION NEXT HIGHER DEGREES:red wave 2 DETAILS: blue wave 2 looking completed at 192.837, now red wave 1 of blue wave 3 is in play. Wave Cancel invalid level: 193.567 The GBP/JPY Elliott Wave Analysis for the 4-hour chart provides insights into potential price movements of the British Pound against the Japanese Yen, utilizing Elliott Wave principles for technical analysis. Identified as a "Trend," the analysis suggests that the prevailing market direction aligns with the broader uptrend. This indicates that the GBP/JPY pair may be experiencing a sustained movement in the direction of the dominant trend. Described as "Impulsive" in mode, the analysis indicates that the current market movement exhibits characteristics of an impulsive wave. This suggests a strong and decisive directional move in the GBP/JPY pair, typically associated with the continuation of the underlying trend. The "STRUCTURE" is labeled as "red wave 1," providing clarity on the current wave count within the Elliott Wave cycle. This assists traders in understanding the ongoing impulsive movement and its alignment with the broader trend. Positioned as "blue wave 3," the analysis highlights the specific phase of the Elliott Wave cycle within the current impulsive movement. This indicates that the market is currently in the third wave of the larger impulsive sequence, suggesting a strong directional move. In the "DIRECTION NEXT HIGHER DEGREES" section, the analysis mentions "red wave 2," indicating the anticipated direction for the subsequent higher-degree wave within the Elliott Wave cycle. This suggests that the market may experience a temporary corrective phase following the completion of the current impulsive wave. The "DETAILS" section notes that "blue wave 2 looking completed at 192.837, now red wave 1 of blue wave 3 is in play." This suggests that the previous corrective wave has likely concluded, and the market is now in the first wave of the current impulsive movement within the broader third wave. Additionally, the wave cancel level is noted at 193.567, serving as a reference point for invalidating the wave count. Traders may use this information to assess potential trading opportunities and manage risk accordingly. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

XRPUSD Day Crypto Chart XRPUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triangle Position: Wave E Direction Next higher Degrees: wave 4 of Impulse Wave Cancel invalid level: 0.486 Details: the Moved in Triangle Before Increase again. XRPUSD H2 Crypto Chart XRPUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 4 Direction Next higher Degrees: wave C of Zigzag Wave Cancel invalid level: Details: A short-term pullback in wave 4 before falling again in wave 5. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!

ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NORTHERN STAR RESOURCES LTD – NST. Our recently updated forecast for NST in the Top 50 ASX Stocks service is still active. We have identified a bullish opportunity with NST, setting up wave (iii)-purple of wave ((iii))-blue that could push much higher. ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Wave Technical Analysis ASX: NORTHERN STAR RESOURCES LTD – NST 1D Chart (Semilog Scale) Analysis Function: Major trend (Intermediate degree, blue) Mode: Motive Structure: Impulse Position: Wave (iii)-purple of Wave ((iii))-green of Wave 3-red of Wave (3)-blue Recent analysis: Accurate forecast Details: The detailed short-term outlook shows that wave (3)-blue is unfolding, subdividing into waves 1 and 2-red, which have completed, and wave 3-red is currently unfolding to push higher. At a smaller degree, wave (iii)-purple is opening to push even higher, targeting an immediate objective around 16.30, while maintaining a price above 14.19 is an advantage and strong support for this bullish outlook. Invalidation point: 13.40 ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: NORTHERN STAR RESOURCES LTD – NST Elliott Wave Technical Analysis ASX: NORTHERN STAR RESOURCES LTD – NST 4-Hour Chart Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave (iii)-purple of Wave ((iii))-green Details: The shorter-term outlook indicates that the (iii)-purple wave seems to be unfolding to push higher. It is subdividing into the i-blue and ii-blue waves, with the ii-blue wave potentially just completed. The iii-blue wave might be ready to push higher as long as the price remains above the support level at 14.19, which would be advantageous for this perspective. Invalidation point: 13.40 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: NORTHERN STAR RESOURCES LTD – NST aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

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: Bitcoin is in the final stages of its bullish corrective pattern and will likely push higher in line the 2014 bitcoin halving. Precious metals gold and silver and GDX are in a wave four once completed expect another trend higher. Copper and Uranium are also in wave fours. The USD DXY and the 10 Yr. yields will continue to trend higher, that can take Crude oil higher also. Video Chapters 00:00 Bitcoin (BTC) ETHUSD GBTC 07:39 US Dollar Index, DXY / TLT Bonds. US Gov Bonds 10 Yr Yields 13:49 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG 17:20 Base Metals:Nickel, Uranium URA ETF / Copper 24:44 Energy: Crude Oil WTI OIL / Natural Gas NG 33:16 End Analyst Peter Mathers TradingLounge™

Silver Elliott Wave Analysis Function -Trend Mode - Trend Structure - Impulse for (A) Position - Wave 3 of (A) Direction - Wave 4 of (A) Details - Currently in wave 4 dip before further rallies for wave 5 of (A) higher. We should see one more leg lower for wave 4. The current bullish resurgence on Silver started in January 2024 after a sideways move in over a year prior. By projection, it doesn’t look like this bullish run is ending soon. Buyers will continue to wait for dips to buy. With Elliott wave theory, we can identify the identity of the dips and when a bigger pullback is on the way. The current dip that started on 12 April 2024 is expected to take a leg lower before the bullish trend resumes. In today’s commodity blog post, we will look at the position of the current price in the larger framework and what target traders should expect for the current bullish trend. On the daily time frame, we could identify that the current rally is part of a bigger bullish correction that started on March 20, 2022 at 11.645. Since then, a double zigzag pattern has been emerging upwards, labelled waves (w)-(x)-(y) of the supercycle degree. Wave (w) ended at 30.08 on 3rd February 2021 and wave (x) concluded at 17.56 on 31 August 2022. By projection, wave (y) could reach 44.995 if we get a 100% relationship between (w) and (y) which often happens with zigzag structured. From the 2022 low of 17.56, wave (y) is emerging and itself now sub-divides into blue waves ‘W’-’X’-’Y’ - a double zigzag pattern. Blue wave ‘W’ ended on 3rd February 2023 at 24.65 before price entered in to a triangle sideways structure for blue wave ‘X’ that lasted for over a year. Currently, we are in wave (y) of the supercycle degree that can sub-divide into at least three waves. Current rally is the first leg or first leg of the first sub-wave of (x). If we go with the latter, then we are in wave (A) of w of (x) but if we go with the former, we are in wave a of (w). All these may sound confusing to a beginner in the subject of Elliott wave theory. We can just focus on wave (A) ahich is expected to be an impulse from 21.929. The H4 time frame shows its sub-waves more clearly. On the H4 time frame, we are currently in wave 4 pullback of wave (A). 1st and 2nd legs of wave 4 seem to have completed. We will expect another leg lower into the 26.86-26.07 Fibonacci extension zone where wave 4 might find a support for further rallies in wave 5 of (A). Therefore, we can conclude that current dip has not violated the bullish development in anyway. It’s just an opportunity for new and existing buyers to get in long positions from the dip. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

CRM Elliott Wave Analysis Trading Lounge Daily Chart, Salesforce Inc., (CRM) Daily Chart CRM Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Flat POSITION: Intermediate wave (4) DIRECTION: Bottom in wave (4). DETAILS: We are reacting off TL3 at 300$, in what we labelled as wave (3) of Primary 1. We experienced a long term correction in wave IV which appears to be complete, and we are now looking for continuation higher. CRM Elliott Wave Analysis Trading Lounge 4Hr Chart, Salesforce Inc., (CRM) 4H Chart CRM Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Flat POSITION: Wave C of (4). DIRECTION: Bottom in wave C. DETAILS: We seem to have a three wave move so far in wave (4), with a sideways wave B which because of its characteristics it gives us additional confidence we could be in a corrective structure. Here's the latest on Salesforce Inc. (CRM) from our Elliott Wave Analysis Trading Lounge, examining both the daily and 4-hour chart. * CRM Elliott Wave Technical Analysis – Daily Chart* Salesforce is currently exhibiting behavior typical of a counter trend phase with a corrective mode and flat structure, positioned in Intermediate wave (4). The direction is indicating a potential bottom in wave (4). We've observed a reaction off the key level, TL3 at $300, which we have identified as wave (3) of Primary 1. Following a prolonged correction in wave IV, which now appears complete, the outlook suggests a potential continuation higher. * CRM Elliott Wave Technical Analysis – 4hr Chart* The 4-hour chart further supports the daily findings but focuses on the specifics of the ongoing correction in Wave C of (4). This phase is also characterized as counter trend, corrective, and flat. The chart shows a three-wave structure for wave (4), with a sideways wave B. The nature of wave B provides additional confidence that we are indeed in a corrective structure, setting up expectations for a bottom in wave C. 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: Counter Trend MODE: impulsive as C STRUCTURE:blue wave 3 POSITION: black wave C of 2 DIRECTION NEXT HIGHER DEGREES:blue wave 4 DETAILS: blue wave 2 looking completed at 1.09862 .Now blue wave 3 of C is in play . Wave Cancel invalid level: 1.08838 The EUR/USD Elliott Wave Analysis for the day chart offers insights into the potential price movements of the Euro against the U.S. Dollar, applying Elliott Wave principles for technical analysis. Described as a "Counter Trend," the analysis suggests that the current market direction is contrary to the prevailing trend. This indicates that the EUR/USD pair may be undergoing a temporary reversal against the broader uptrend. Identified as "Impulsive as C" in mode, the analysis indicates that the current market movement exhibits characteristics of an impulsive wave within the larger corrective pattern labeled as "C." This suggests a strong and sustained directional move against the primary trend. The "STRUCTURE" is labeled as "blue wave 3," providing clarity on the current wave count within the Elliott Wave cycle. This assists traders in understanding the ongoing impulsive movement and its alignment with the broader corrective structure labeled as "C." Positioned as "black wave C of 2," the analysis highlights the specific phase of the corrective pattern within the larger Elliott Wave cycle. This suggests that the market is currently undergoing a corrective phase within the context of the broader countertrend move. In the "DIRECTION NEXT HIGHER DEGREES" section, the analysis mentions "blue wave 4," indicating the anticipated direction for the subsequent higher-degree wave within the corrective pattern. This suggests that the market may experience a temporary pullback following the completion of the current impulsive wave. The "DETAILS" section notes that "blue wave 2 looking completed at 1.09862. Now blue wave 3 of C is in play." This suggests that the previous corrective wave has likely concluded, and the market is now in the third wave of the current impulsive movement. Traders may monitor this wave for potential trading opportunities or trend continuation. Additionally, the wave cancel level is noted at 1.08838, serving as a reference point for invalidating the wave count. 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:red wave 3 POSITION: blue wave 3 DIRECTION NEXT HIGHER DEGREES:red wave 4 DETAILS: red wave 2 looking completed at 1.08838 .Now red wave 3 of 3 is in play . Wave Cancel invalid level: 1.08838 The EUR/USD Elliott Wave Analysis for the 4-hour chart provides insights into the potential price movements of the Euro against the U.S. Dollar, utilizing Elliott Wave principles for technical analysis. Described as a "Trend," the analysis indicates that the prevailing market direction aligns with the broader uptrend in the EUR/USD pair. This suggests that the current price action is consistent with the dominant bullish momentum in the market. Identified as "Impulsive" in mode, the analysis suggests that the current market movement exhibits characteristics of an impulsive wave, indicating a strong and sustained directional move. Traders may interpret this as a sign of significant buying or selling pressure driving the market in one direction. The "STRUCTURE" is characterized as "red wave 3," providing clarity on the current wave count within the Elliott Wave cycle. This assists traders in understanding the ongoing impulsive movement and its alignment with the broader Elliott Wave structure. Positioned as "blue wave 3," the analysis highlights the specific phase of the impulsive wave within the larger Elliott Wave cycle. This suggests that the market is currently experiencing a strong upward movement within the context of the broader uptrend. In the "DIRECTION NEXT HIGHER DEGREES" section, the analysis mentions "red wave 4," indicating the anticipated direction for the subsequent higher-degree wave within the impulsive pattern. This suggests that the market may experience a corrective phase following the completion of the current impulsive wave. The "DETAILS" section mentions that "red wave 2 looking completed at 1.08838. Now red wave 3 of 3 is in play." This suggests that the previous corrective wave has likely concluded, and the market is now in the third wave of the current impulsive movement. Traders may monitor this wave for potential trading opportunities or trend continuation. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

ASX: COCHLEAR LIMITED - COH Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COCHLEAR LIMITED - COH. Continuing on last week's forecast made with COH, that forecast is now accurate. We identify in the short term that COH could decline lower to complete a Zigzag Correction with wave (4)-blue, followed by a potential resurgence of wave (5)-blue to push higher. ASX: COCHLEAR LIMITED - COH Elliott Wave Technical Analysis ASX: COCHLEAR LIMITED - COH 1D Chart (Semilog Scale) Analysis Function: Major trend (Intermediate degree, blue) Mode: Motive Structure: Impulse Position: Wave (4)-blue Details: The short-term outlook indicates that the (4)-blue wave is currently unfolding to push lower, targeting the immediate range of 293.87 - 278.31. After the completion of the (4)-blue wave, the (5)-blue wave may resume to push higher. Additionally, the support target is very close to the Major Level at 300. Invalidation point: 253.36 ASX: COCHLEAR LIMITED - COH Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: COCHLEAR LIMITED - COH Elliott Wave Technical Analysis ASX: COCHLEAR LIMITED - COH 4-Hour Chart Analysis Function: Major trend (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave ((iii))-green of Wave C-red Details: The short-term outlook suggests that the (c)-purple wave continues to push lower, possibly targeting around the Major Level 300. Maintaining below the level of 323.84 serves as both resistance and an advantage for this bearish view. After this corrective ABC-red wave concludes, it also indicates that the (4)-blue wave has ended, paving the way for a potential upward movement with the (5)-blue wave. Invalidation point: 342.40 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: COCHLEAR LIMITED - COH aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge Daily Chart, VeChain/ U.S. dollar(VETUSD) VETUSD Elliott Wave Technical Analysis Function: Counter trend Mode: Corrective Structure: Flat Position: Wave ((C)) Direction Next higher Degrees: wave II of Impulse Wave Cancel invalid Level: 0.2100 Details: Wave II Is equal 50% of Wave I at 0.0270 VeChain/ U.S. dollar(VETUSD)Trading Strategy: The short-term retracement of the second wave is likely to retest the 50% level of the first wave at 0.0270. We expect that the price is still likely to fall further, but only as a pullback. short term to continue Wait for the correction to complete to rejoin the uptrend. VeChain/ U.S. dollar(VETUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge 4H Chart, VeChain/ U.S. dollar(VETUSD) VETUSD Elliott Wave Technical Analysis Function: Counter trend Mode: Corrective Structure: Flat Position: Wave ((C)) Direction Next higher Degrees: wave II of Impulse Wave Cancel invalid Level: Details: Wave C is equal to 161.8% of Wave A at 0.0265 VeChain/ U.S. dollar(VETUSD)Trading Strategy: The short-term retracement of the second wave is likely to retest the 50% level of the first wave at 0.0270. We expect that the price is still likely to fall further, but only as a pullback. short term to continue Wait for the correction to complete to rejoin the uptrend. VeChain/ U.S. dollar(VETUSD)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!

Corn Elliott wave analysis Function - Trend Mode - Counter-Trend Structure - Expecting Impulse Wave Position - Wave 2 Direction - Wave 3 Details - Wave 2 may not drop inside the 419-413 support zone where we expected it to end. Perhaps it has been completed with the surge to 438’4 and the subsequent corrective response. Wave 3 is probably in play and will be confirmed by the breach above 438’4. However, a double three corrective pattern into the zone is still likely. So we need an important impulse break upwards to confirm wave 2 has ended. Between 26 February and 13 March 2024, Corn gained over 12%. However, that’s merely a 17% recovery of the April 2022-to-February 2024 sell-off. Thus, there is still some way upside to go. From the Elliott wave perspective, it seems the current recovery will extend higher into the 22-month sell-off. By projection, the price might correct up to 571-623 Fibonacci retracement area. Today’s commodity blog post intends to show traders how to gain from this bullish corrective cycle. On the daily chart, from 824, we identified a corrective decline from April 2022 down to 394 in February 2024. Ideally, an impulse wave should follow to break above 824 in the long term. However, in this case, we will consider a 3-wave corrective bounce at first, and if the price supports, an impulse later. Currently, the price is in blue wave ‘A’ of blue wave ’1’ (both circled). We expect either to start with an impulse wave. On the H4 time frame, we can see the sub-waves of the current bounce better. On the H4 chart, a rally from 394 has completed the first impulse - wave 1. This is an indication that we may be right with the expected strong corrective rally or a long-term bullish impulse. From the end of wave 1, wave 2 has emerged and is quite debatable in the way it’s being structured. We expected wave 2 to end in the 419-413 key support zone. However, it appears wave 2 has ended with an expanding flat pattern. Flats can be quite tricky and can quickly transform a different pattern. Two ways to confirm wave 3 has started: 1. price breaks above blue wave ‘b’ of 2 high and 2. an impulsive break above 438 If the price confirms the end of wave 2, we should see wave 3 between 492 and 515 or maybe even higher. Thus, there’s more room to the upside for buyers to explore. However, if wave 3 is not confirmed, a further dip into the 419-423 or even lower shouldn’t come as a surprise. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial!

TXN Elliott Wave Analysis Trading Lounge Daily Chart, Texas Instruments Inc., (TXN) Daily Chart TXN Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor wave 3 DIRECTION: Upside in wave 3. DETAILS: We are looking at either an extension in Minor wav 3 in the making, or else we are still in wave {b} of 2. The most bearish scenario is the one where the move off the 140$ bottom is not a wave 1 and we are still in a larger degree correction. TXN Elliott Wave Analysis Trading Lounge 4Hr Chart, Texas Instruments Inc., (TXN) 4Hr Chart TXN Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Flat POSITION: Wave {ii} DIRECTION: Bottom in wave (c) of {ii}. DETAILS: We are looking at a clear three wave move in wave {ii} with a bottom soon to be in place, looking for the beginning of MGM2 at 165$ to provide support. Welcome to our TXN Elliott Wave Analysis Trading Lounge, where we delve into Texas Instruments Inc. (TXN) using Elliott Wave Technical Analysis. Let's dissect the market dynamics on both the Daily Chart and the 4H Chart as of April 15, 2024. * TXN Elliott Wave Technical Analysis – Daily Chart* On the Daily Chart, our analysis reveals a trending market characterized by impulsive mode and motive structure, positioned in Minor wave 3. The direction indicates upside momentum in wave 3. However, we are considering two potential scenarios: either an extension in Minor wave 3 or still within wave {b} of 2. The most bearish scenario suggests that the move from the $140 bottom may not be a wave 1, implying a larger degree correction. * TXN Elliott Wave Technical Analysis – 4hr Chart* Here, we observe a counter trend market marked by corrective mode and flat structure, positioned in Wave {ii}. The direction hints at a bottom forming in wave (c) of {ii}. Our analysis identifies a clear three-wave move in wave {ii}, with a bottom expected soon. We anticipate support to emerge around the beginning of MGM2 at $165. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!

ASX: RIO TINTO LIMITED – RIO Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) RIO TINTO LIMITED – RIO. We have identified that RIO may have completed the ((ii))-green wave at the 114.88 low, allowing the ((iii))-green wave to open up to push much higher. We will continuously monitor and update not only RIO but also the TOP 50 ASX Stocks and provide the best forecasts. ASX: RIO TINTO LIMITED – RIO Elliott Wave Technical Analysis ASX: RIO TINTO LIMITED – RIO 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave ((iii))-green of Wave 3-red Details: The short-term outlook suggests that wave ((ii))-green appears to have completed around 114.88, and wave ((iii))-green is now unfolding to push higher. Maintaining a price level above 121.10 would be advantageous and also serves as a strong support for this perspective. Invalidation point: 102.51 ASX: RIO TINTO LIMITED – RIO Elliott Wave Technical Analysis ASX: RIO TINTO LIMITED – RIO 4-Hour Chart Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave iii-blue of Wave (iii)-purple of Wave ((iii))-green Details: The shorter-term outlook indicates that wave ((iii))-green is currently unfolding to continue pushing higher. The immediate targets could be around 134.68 and 139.59, or even further. Maintaining above the level of 125.10 would be advantageous, serving as both a support level and strengthening the bullish perspective. Invalidation point: 114.88 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: RIO TINTO LIMITED – RIO 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, XRP/ U.S. dollar(XRPUSD) XRPUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triangle Position: Wave E Direction Next higher Degrees: wave 4 of Impulse Wave Cancel invalid level: 0.486 Details: the Moved in Triangle Before Increase again XRP/ U.S. dollar(XRPUSD)Trading Strategy: Triangle correction, where we are in the final phase of the correction in Wave E. Once Wave E is complete, the price will return to the uptrend again. XRP/ U.S. dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge 2H Chart, XRP/ U.S. dollar(XRPUSD) XRPUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 4 Direction Next higher Degrees: wave C of Zigzag Wave Cancel invalid level: Details: A short-term pullback in wave 4 before falling again in wave 5. XRP/ U.S. dollar(XRPUSD)Trading Strategy: Decreasing in an impulse pattern where we are in a short pullback in wave 4 before falling again in wave 5 to complete wave C and after which the price re-enters the uptrend. XRP/ U.S. dollar(XRPUSD)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!

USDJPY Elliott Wave Analysis Trading Lounge Day Chart, U.S.Dollar/Japanese Yen(USDJPY) Day Chart USDJPY Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE:red wave 5 of C POSITION: black wave Z of B DIRECTION NEXT LOWER DEGREES: sub waves of Red wave C DETAILS red wave 4 of C looking completed at 150.778 . Now red wave 5 of C of Z of B is in play and looking near to end. The USD/JPY Elliott Wave Analysis for the day chart provides insights into the potential price movements of the U.S. Dollar against the Japanese Yen, employing Elliott Wave principles for technical analysis. Described as a "Counter Trend," the analysis suggests that the prevailing market direction runs counter to the primary trend, indicating a possible corrective phase or reversal in the USD/JPY pair. Traders may interpret this as a temporary deviation from the overarching uptrend in the currency pair. Identified as "Corrective" in mode, the analysis indicates that the current market movement is part of a corrective pattern rather than a new impulsive trend. This suggests that the recent price action represents a temporary interruption in the broader trend. The "STRUCTURE" is characterized as "red wave 5 of C," providing clarity on the current wave count within the Elliott Wave cycle. This assists traders in understanding the ongoing corrective pattern and its alignment with the broader Elliott Wave structure. Positioned as "black wave Z of B," the analysis highlights the current wave count within the larger Elliott Wave cycle, indicating the specific phase of the potential corrective pattern. This suggests that the market is currently experiencing a corrective phase within the broader wave structure. In the "DIRECTION NEXT LOWER DEGREES" section, the analysis mentions "sub waves of Red wave C," indicating the anticipated direction for the subsequent lower-degree waves within the corrective pattern. This suggests that the market may continue to unfold within the context of the current corrective structure. The "DETAILS" section mentions that "red wave 4 of C looking completed at 150.778. Now red wave 5 of C of Z of B is in play and looking near to end." This suggests that the previous corrective wave has likely concluded, and the market is now in the final phase of the current corrective movement. Traders may monitor the completion of this wave for potential trading opportunities or trend reversals. USDJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, U.S.Dollar/Japanese Yen(USDJPY) 4 Hour Chart USDJPY Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Impulsive as C STRUCTURE:red wave 5 POSITION: blue wave C DIRECTION NEXT LOWER DEGREES: bearish impulse as red wave 1 DETAILS red wave 4 of C looking completed at 150.778 . Now red wave 5 is in play. The USD/JPY Elliott Wave Analysis for the 4-hour chart presents insights into potential price movements of the U.S. Dollar against the Japanese Yen, utilizing Elliott Wave principles for technical analysis. Identified as a "Counter Trend" scenario, the analysis suggests that the prevailing market direction opposes the primary trend, indicating a potential reversal or corrective phase in the USD/JPY pair. Traders may interpret this as a temporary deviation from the overall uptrend in the currency pair. Described as "Impulsive as C" in mode, the analysis indicates that the current market movement exhibits characteristics of an impulsive wave within the broader Elliott Wave cycle. This implies that the recent price action is part of a corrective pattern rather than a new impulsive trend. The "STRUCTURE" is identified as "Red wave 5," providing clarity on the current wave count within the Elliott Wave cycle. This assists traders in understanding the ongoing corrective pattern and its alignment with the broader Elliott Wave structure. Positioned as "Blue wave C," the analysis highlights the current wave count within the larger Elliott Wave cycle, indicating the specific phase of the potential corrective pattern. This suggests that the market is currently experiencing a corrective phase within the broader wave structure. The "DIRECTION NEXT LOWER DEGREES" is denoted as a "bearish impulse as red wave 1," implying the anticipated direction for the subsequent lower-degree wave within the corrective pattern. This indicates that following the completion of the current corrective phase, a new bearish impulse may ensue. In the "DETAILS" section, it is mentioned that "red wave 4 of C looking completed at 150.778. Now red wave 5 is in play." This suggests that the previous corrective wave has likely completed, and the market is now in the initial phase of a new impulsive movement. Traders may use the level of 150.778 as a reference point to monitor potential invalidation of the current wave count. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!