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Analysis and Trading Strategies Using Elliott Wave Theory on NASDAQ Stock Market: Focusing on NASDAQ 100, S&P 500, and Key Stocks Including Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), and Alphabet (GOOGL). Elliott Wave Stock Analysis: AMZN, META, and NFLX Spearhead Gains, Propelling the S&P 500 and NASDAQ Out of Their Fourth-Wave Dips. While AAPL and TSLA Are Poised for Further Declines, NVDA Is Near Completing Its Correction with a Minor Low. Recommended Long Positions in AMZN, META, MSFT, and NFLX. Additionally, An Examination of Banking Stocks Including BAC and JPM Shows Alignment with S&P 500 Trends. This Analysis Also Covers Weekly Elliott Wave Projections for Select Stocks Such as META and NFLX. Video Chapters 00:00 NASDAQ 100 (NDX) SP500 07:16 Banks . BAC. JPM 11:37 Apple (AAPL) 14:43 Amazon (AMZN) 15:45 Meta Platforms (META) 20:40 NVIDIA (NVDA) 21:52 Netflix (NFLX) 24:28 Alphabet (GOOGL) 26:18 Microsoft MSFT 28:27 Tesla (TSLA) 31:28 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge. com

Coffee Elliott wave analysis Function - Counter-trend Mode - Corrective Structure - Triangle wave (X) Position - Wave A of (Y) Direction - Wave A of (Y) is still in play Details - Wave A pushed farther away from 200. May push further higher. The 200 major level could provide support for wave B pullback that should follow the end of A. Not much has changed from the last update. As April 2024 commenced, Coffee broke out of a range spanning over three months, reaching its highest price point since October 2022. Reflecting on the past, the commodity has surged by over 42% since hitting a low in October 2023. With this breakout, the immediate outlook for Coffee appears favorable for buyers. Currently priced at $206, there's potential for further gains in the upcoming weeks. This blog post aims to analyze how traders can navigate this trend before its conclusion. Analyzing the daily timeframe, the rally from October 2023 represents the third leg of a medium-term bullish correction initiated in January 2023. This correction forms a double three (zigzag) pattern labeled as wave W-X-Y (circled in blue). The upward movement from October 2023 delineates wave Y, which is anticipated to extend further with its third leg, labeled as wave (Y). The preceding wave (X) corresponds to the three-month range observed, characterized as a contracting triangle. Consequently, we expect to witness at least a 3-wave rally for wave (Y). Currently, the initial upside swing is underway, to be followed by a dip swing before another rally swing for the third leg. Employing a 'buy the dip' strategy would be most advantageous in this scenario. Transitioning to the H4 timeframe, we observe the subdivision of wave (Y) into waves A-B-C. Wave A has already breached the 200 major level; however, confirmation of its completion is pending. It's imperative to await the completion of wave A and the emergence of wave B, while closely monitoring how the price behaves around the 200 major level. Once wave B concludes, traders can anticipate tracing wave C higher. Therefore, the ideal trade strategy is to exercise patience, awaiting the culmination of wave B before initiating positions in anticipation of the subsequent upward movement denoted by wave C. By adhering to these guidelines, traders can effectively navigate the Coffee market and capitalize on the ongoing bullish trend before its culmination. 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 LOWER DEGREES:black wave 3 DETAILS: blue wave B of 2 completed at 1.91359,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 traders insights into potential price movements of the British Pound against the Australian Dollar, utilizing Elliott Wave principles for technical analysis. Identified as a "Counter Trend" scenario, the analysis suggests that the current market direction opposes the prevailing trend, indicating a potential reversal or corrective movement against the broader price trend. This implies that traders may expect a temporary deviation from the primary trend before a potential resumption or continuation. Described as "Corrective" in mode, the analysis indicates that the current market movement is part of a corrective phase within the broader Elliott Wave cycle. This suggests that the current movement is corrective in nature and may not necessarily signal a reversal of the overall trend but rather a temporary pause or retracement. The "STRUCTURE" is identified as "Blue wave C," providing clarity on the current wave count within the corrective phase. This aids traders in understanding the ongoing corrective pattern and its relation to the broader Elliott Wave structure. Positioned as "Black wave 2," the analysis highlights the current wave count within the broader Elliott Wave cycle, indicating the specific phase of the correction within the larger wave structure. This suggests that the market is currently undergoing a correction after completing a larger degree wave. The "DIRECTION NEXT LOWER DEGREES" is stated as "Black wave 3," suggesting the anticipated direction for the subsequent lower-degree wave. This implies that once the current corrective phase completes, the market may resume its downward movement within the broader Elliott Wave structure. In the "DETAILS" section, it is noted that "Blue wave B of 2 completed at 1.91359, now Blue wave C of 2 is in play." This indicates that the current corrective phase is ongoing, with the expectation of completion before a potential resumption of the broader trend. The "Wave Cancel invalid level" is specified as 1.99747, serving as a critical level that, if breached, may invalidate the current wave count and require a reassessment of the analysis. In summary, the GBPAUD Elliott Wave Analysis for the day chart provides traders with valuable insights into potential corrective movements, critical levels to monitor, and the anticipated direction within the broader Elliott Wave structure, aiding in informed trading decisions. 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: Corrective STRUCTURE Blue wave 😄 POSITION: Black wave 2 DIRECTION NEXT LOWER DEGREES:black wave 3 DETAILS: blue wave B of 2 completed at 1.91359,now blue wave C of 2 is in play . Wave Cancel invalid level: 1.85814 The GBPAUD Elliott Wave Analysis for the 4-hour chart provides traders with insights into potential price movements of the British Pound against the Australian Dollar, utilizing Elliott Wave principles for technical analysis. Identified as a "Counter Trend" scenario, the analysis suggests that the current market direction opposes the prevailing trend, indicating a potential reversal or corrective movement against the broader price trend. Traders may expect a temporary deviation from the primary trend before a potential resumption or continuation. Described as "Corrective" in mode, the analysis indicates that the current market movement is part of a corrective phase within the broader Elliott Wave cycle. This suggests that the current movement is corrective in nature and may not necessarily signal a reversal of the overall trend but rather a temporary pause or retracement. The "STRUCTURE" is identified as "Blue wave C," providing clarity on the current wave count within the corrective phase. This aids traders in understanding the ongoing corrective pattern and its relation to the broader Elliott Wave structure. Positioned as "Black wave 2," the analysis highlights the current wave count within the broader Elliott Wave cycle, indicating the specific phase of the correction within the larger wave structure. This suggests that the market is currently undergoing a correction after completing a larger degree wave. The "DIRECTION NEXT LOWER DEGREES" is stated as "Black wave 3," suggesting the anticipated direction for the subsequent lower-degree wave. This implies that once the current corrective phase completes, the market may resume its downward movement within the broader Elliott Wave structure. In the "DETAILS" section, it is noted that "Blue wave B of 2 completed at 1.91359, now Blue wave C of 2 is in play." This indicates that the current corrective phase is ongoing, with the expectation of completion before a potential resumption of the broader trend. The "Wave Cancel invalid level" is specified as 1.85814, serving as a critical level that, if breached, may invalidate the current wave count and require a reassessment of the analysis. In summary, the GBPAUD Elliott Wave Analysis for the 4-hour chart offers traders valuable insights into potential corrective movements, critical levels to monitor, and the anticipated direction within the broader Elliott Wave structure, aiding in informed trading decisions. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge Daily Chart, Bitcoin/ U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triangle position: Wave ((D)) Direction Next higher Degrees: wave (III) Wave Cancel invalid level: 31046.25 Details: The corrective of Wave IV before increasing again in Wave V Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: Bitcoin is still in an uptrend. This is currently a short-term correction of the fourth wave. In the Triangle pattern, we are missing one more decline in wave E before another increase in the fifth wave. So wait for the correction to complete to rejoin the trend. Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Source : Tradinglounge.com get trial here! Elliott Wave Analysis TradingLounge 4H Chart, Bitcoin/ U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triangle position: Wave ((D)) Direction Next higher Degrees: wave (III) Wave Cancel invalid level: 31046.25 Details: The corrective of Wave IV before increasing again in Wave V Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: Bitcoin is still in an uptrend. This is currently a short-term correction of the fourth wave. In the Triangle pattern, we are missing one more decline in wave E before another increase in the fifth wave. So wait for the correction to complete to rejoin the trend. Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.

Unlocking ASX Trading Success: BLOCK INC. - SQ2 Stock Analysis & Elliott Wave Technical Forecast Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with BLOCK INC. - SQ2 . We've identified a countertrend move (ABC) with Wave 2-red unfolding, which also presents a good trading opportunity with Wave 3-red to follow once Wave 2-red completes. Therefore, we'll closely monitor Block Inc. - SQ2 in the coming days. ASX: BLOCK INC. - SQ2 Elliott Wave Technical Analysis ASX: BLOCK INC. - SQ2 1D Chart (Semilog Scale) Analysis Function: Major trend (Intermediate degree, blue) Mode: Motive Structure: Impulse Position: Wave 3-red of Wave (3)-blue Details: The short-term outlook suggests that since the low at 60.56, waves (1), (2), (3)-blue have unfolded to push higher. Wave (2)-blue appears to have just completed at 94.66, and wave (3)-blue is now unfolding to push higher, targeting 184.92. Currently, at a smaller degree, wave 1-red has peaked, and wave 2-red is unfolding to push slightly lower until it completes, after which wave 3-red will resume and rise even higher. A push above 129.00 would renew the bullish outlook. Invalidation point: 94.66 ASX: BLOCK INC. - SQ2 4-Hour Chart Analysis Function: Major trend (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave ((c))-green of Wave 2-red Details: The short-term outlook suggests that wave 1-red has recently peaked, and wave 2-red is unfolding to push lower, possibly targeting the range of 109.73 - 107.15. Therefore, this is an opportunity to observe and wait until the corrective wave 2-red concludes, which will open up a good trading opportunity with wave 3-red to push even higher. Invalidation point: 94.66 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: BLOCK INC. - SQ2 aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

Gold Elliott Wave Analysis Function - Counter-trend Mode - Corrective Structure - Possible zigzag Position -Wave (v) of blue ‘c’ Direction - Wave (v) of blue ‘c’ still in play Details - Gold strengthens for wave (v) of blue ‘c’ of Y of 3. It seems to be in the last phase and can turn bearish to begin wave (4) after completing an impulse for (v). Following its establishment of a new all-time high in December, Gold underwent a pullback lasting just over two months before embarking on a renewed rally to achieve another fresh all-time high in early March. Since then, the metal has maintained its upward trajectory without hesitation. With expectations of further rally ahead, adopting a strategy of buying dips appears prudent for investors seeking to capitalize on Gold's momentum. In today's commodity blog post, we will explore what Gold traders and investors should anticipate and where potential trading opportunities may arise through the lens of Elliott wave theory. Examining the daily timeframe reveals the emergence of an impulse wave pattern since December 2015, labeled in blue (circled). The 4th wave (blue wave 4) of this pattern concluded at the September 2022 low of 1614.8, marking the commencement of the 5th wave. According to Elliott wave theory, the 5th wave can manifest as either an impulse or an ending diagonal. The former is characterized by a 5,3,5,3,5 structure, while the latter comprises a 3,3,3,3,3 structure. Notably, waves (1), (2), and (3) from 1614 exhibit subdivisions into three waves each, suggesting the unfolding of an ending diagonal for wave 5 (blue circled). However, as wave (3) approaches the invalidation level of the ending diagonal at 2330.77, it is likely nearing its conclusion, signaling an imminent pullback for wave (4). Transitioning to the H4 timeframe, wave (3) subdivides into a double three pattern labeled as waves W, X, and Y. Presently, we are in the process of completing the final leg of Y, namely wave (v) of blue c of Y, which should suffice to finalize wave (3). While no discernible indications of a pullback are evident yet, it is reasonable to anticipate its occurrence shortly, particularly below the invalidation level of 2330.77. Nevertheless, adhering to the overarching trend, buying the dips remains the favored strategy for trading Gold, offering a safer approach to capitalize on its upward trajectory. As such, traders are advised to remain vigilant and align their strategies accordingly to exploit potential trading opportunities in the market. Technical Analyst : Sanmi Adeagbo

NEOUSD Daily Crypto Chart NEOUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave (3) Direction Next higher Degrees: Wave ((3)) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (3) is Equal to 161.8% of Wave (1) at 24.52 NEOUSD H4 Crypto Chart NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave (C) Direction Next higher Degrees: Wave ((2))) of Impulse Wave Cancel invalid Level: 9.85 Details: The Wave ((2)) is equal to 61.8% of Wave ((1)) at 14.24 Technical Analyst : Kittiampon Somboonsod

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: Counter Trend MODE: corrective STRUCTURE: blue wave 2 POSITION: black wave 1 DIRECTION NEXT HIGHER DEGREES:blue wave 3 DETAILS: red wave 5 of 1 looking completed at 0.90973 .Now blue wave 2 is in play . Wave Cancel invalid level: 0.83324 The USD/CHF Elliott Wave Analysis for the day chart provides traders with insights into potential price movements of the US Dollar against the Swiss Franc, utilizing Elliott Wave principles for technical analysis. Identified as a "Counter Trend" scenario, the analysis suggests that the current market direction opposes the prevailing trend, indicating a potential reversal or corrective movement against the broader price trend. Traders may expect a temporary deviation from the primary trend before a potential resumption or continuation. Described as "corrective" in mode, the analysis indicates that the current market movement is part of a corrective phase within the broader Elliott Wave cycle. This suggests that the current movement is corrective in nature and may not necessarily signal a reversal of the overall trend but rather a temporary pause or retracement. The "STRUCTURE" is identified as "blue wave 2," providing clarity on the current wave count within the corrective phase. This aids traders in understanding the ongoing corrective pattern and its relation to the broader Elliott Wave structure. Positioned as "black wave 1," the analysis highlights the current wave count within the broader Elliott Wave cycle, indicating the specific phase of the correction within the larger wave structure. This suggests that the market is currently undergoing a correction after completing a larger degree wave. The "DIRECTION NEXT HIGHER DEGREES" is stated as "blue wave 3," suggesting the anticipated direction for the subsequent higher-degree wave. This implies that once the current corrective phase completes, the market may resume its upward movement within the broader Elliott Wave structure. In the "DETAILS" section, it is noted that "red wave 5 of 1 looking completed at 0.90973. Now blue wave 2 is in play." This indicates that the current corrective phase is ongoing, with the expectation of completion before a potential resumption of the broader trend. The "Wave Cancel invalid level" is specified as 0.83324, serving as a critical level that, if breached, may invalidate the current wave count and require a reassessment of the analysis. In summary, the USD/CHF Elliott Wave Analysis for the day chart offers traders valuable insights into potential corrective movements, critical levels to monitor, and the anticipated direction within the broader Elliott Wave structure, aiding in informed trading decisions. SD/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: Counter Trend MODE: corrective STRUCTURE: blue wave 2 POSITION: black wave 1 DIRECTION NEXT HIGHER DEGREES:blue wave 3 DETAILS: red wave 5 of 1 looking completed at 0.90973 .Now blue wave 2 is in play . Wave Cancel invalid level: 0.83324 The USD/CHF Elliott Wave Analysis for the 4-hour chart provides traders with insights into potential price movements of the US Dollar against the Swiss Franc, utilizing Elliott Wave principles for technical analysis. Identified as a "Counter Trend" scenario, the analysis suggests that the current market direction opposes the prevailing trend, indicating a potential reversal or corrective movement against the broader price trend. Traders may expect a temporary deviation from the primary trend before a potential resumption or continuation. Described as "corrective" in mode, the analysis indicates that the current market movement is part of a corrective phase within the broader Elliott Wave cycle. This suggests that the current movement is corrective in nature and may not necessarily signal a reversal of the overall trend but rather a temporary pause or retracement. The "STRUCTURE" is identified as "blue wave 2," providing clarity on the current wave count within the corrective phase. This aids traders in understanding the ongoing corrective pattern and its relation to the broader Elliott Wave structure. Positioned as "black wave 1," the analysis highlights the current wave count within the broader Elliott Wave cycle, indicating the specific phase of the correction within the larger wave structure. This suggests that the market is currently undergoing a correction after completing a larger degree wave. The "DIRECTION NEXT HIGHER DEGREES" is stated as "blue wave 3," suggesting the anticipated direction for the subsequent higher-degree wave. This implies that once the current corrective phase completes, the market may resume its upward movement within the broader Elliott Wave structure. In the "DETAILS" section, it is noted that "red wave 5 of 1 looking completed at 0.90973. Now blue wave 2 is in play." This indicates that the current corrective phase is ongoing, with the expectation of completion before a potential resumption of the broader trend. In summary, the USD/CHF Elliott Wave Analysis for the 4-hour chart offers traders valuable insights into potential corrective movements, critical levels to monitor, and the anticipated direction within the broader Elliott Wave structure, aiding in informed trading decisions.

Unlocking ASX Trading Success: RAMSAY HEALTH CARE LIMITED – RHC Stock Analysis & Elliott Wave Technical Forecast ASX: RAMSAY HEALTH CARE LIMITED – RHC Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with RAMSAY HEALTH CARE LIMITED - RHC. Previously in our Top 50 ASX Stocks service, we accurately forecasted a price decline with the (c)-purple wave of Wave ((ii))-green. At this point, we identify a good trading opportunity as an ABC pattern has just emerged, opening with the ((ii)) wave, and we will continue to monitor for a short while longer to await confirmation that the ((iii)) wave is indeed resuming and pushing higher. ASX: RAMSAY HEALTH CARE LIMITED – RHC Elliott Wave Technical Analysis ASX: RAMSAY HEALTH CARE LIMITED – RHC 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave ((ii))-green of Wave 3-red Details: The short-term outlook suggests a bullish trend since the low of 46.76. Both wave 1-red and wave 2-red have concluded, and now wave 3-red is in progress. Wave ((i)) -green has reached its peak, while wave ((ii))-green is currently retracing, possibly finding support around the 52.20-51.04 range before wave ((iii))-green resumes its upward trajectory. Pushing above 56.67 would reaffirm the bullish outlook with wave ((iii))-green. Invalidation point: 49.45 ASX: RAMSAY HEALTH CARE LIMITED – RHC Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: RAMSAY HEALTH CARE LIMITED – RHC Elliott Wave Technical Analysis ASX: RAMSAY HEALTH CARE LIMITED – RHC 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 short-term outlook suggests that wave ((ii))-green is currently unfolding, subdividing into waves (a)(b)(c)-purple. It appears that wave (c)-purple is nearing its completion, as I have observed a strong upward movement immediately following it, and notably, it has achieved the necessary targets within the channel. Therefore, I will closely monitor this (RHC) chart. Pushing above the 56.67 level would be the initial indication that wave ((iii))-green is underway, targeting even higher levels. Invalidation point: 49.45 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: RAMSAY HEALTH CARE LIMITED – RHC 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 Elliott Wave Analysis Indices: Jobless claims next session, could spike the Indices lower, however if that was the case then the Indices bullish pattern would be over, now that said, the current low for Indices can be in place now, so this means any long trades would require a safer long trade set up and I chat about this with most indices. those trading ETFs can just hold long as then market is still trending. The next target for the SP500 is around the 5,300 the top of Minor Group1 and the Elliott wave count would be Wave v) of 5 of (3) so an important top... Video Chapters 00:00 SP 500 (SPX) 09:19 NASDAQ (NDX) 19:05 Russell 2000 (RUT) 23:38 DAX 40 (DAX) 30:17 FTSE 100 UKX (UK100) 34:12 S&P/ASX 200 (XJO) 42:06 End Analyst Peter Mathers TradingLounge™

GX Uranium Elliott Wave Analysis Function - Counter trend Mode - Corrective Structure - Emerging Flat Position - Red wave (B) of blue 4 Direction - Red wave (C) should begin Details - Wave (B) hits above $30. Price could reach 30.80-31.39 before completing wave (B). We will have to see a sharp return below 30 to confirm the start of wave (C) The GX Uranium ETF (URA) has been on a recovery path since March 26, 2024, albeit characterized as a corrective phase. This suggests a possibility of downside continuation to fulfill the broader retracement initiated from February 1, 2024. However, it's imperative to view this within the context of the larger trend, which indicates a continuation of the upward momentum that began on July 7, 2022, once the current pullback concludes. In today's discussion, we'll explore potential trading opportunities for both the short and medium term in URA. Analyzing the daily timeframe, the ETF has been in an impulse rally since July 2022, with waves 1 to 3 (highlighted in blue) completed prior to the onset of the corrective wave 4 (also circled in blue) on February 1, 2024, commencing at 32.59. This corrective wave 4 has progressed to some extent, completing sub-wave (A) on February 23, 2024, at 26.88, followed by a rebound for wave (B). Examination of the sub-waves within (B) reveals an expanding flat pattern, as evidenced by the H4 chart. Zooming in on the H4 timeframe, we observe that waves A and B have each completed 3-wave structures typical of flat patterns, characterized by their 3, 3, 5 structure. Currently, wave C is nearing completion, taking the form of an expanding diagonal pattern as it approaches a critical zone between 30.39 and 31.39. Anticipation of a bearish reaction from this zone is valid. However, confirmation of the initiation of wave (C) necessitates a sharp break below the lower boundary line of the diagonal. As selling pressure intensifies, wave (C) is projected to extend lower towards the 26.5-25.5 range. Alternatively, if the ongoing rally surpasses the aforementioned zone to the upside, the likelihood of this forecast diminishes, especially as the price approaches the invalidation point at 32.59. In such a scenario, it would suggest that wave 5 (highlighted in blue) is currently unfolding, indicating that blue wave 4 has already completed at 26.79. Traders should closely monitor these key levels and adjust their strategies accordingly to capitalize on potential trading opportunities presented by URA's price action. Technical Analyst : Sanmi Adeagbo

GBPUSD Elliott Wave Analysis Trading Lounge Day Chart, British Pound/U.S.Dollar (GBPUSD) Day Chart GBPUSD Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: blue wave C POSITION: black wave 2 DIRECTION NEXT HIGHER DEGREES: black wave 3 DETAILS: blue wave B of 2 completed at 1.28041 , now blue wave C 2 of is in play. Wave Cancel invalid level: 1.20424 The GBPUSD Elliott Wave Analysis for the day chart provides traders with insights into potential price movements of the British Pound against the US Dollar, utilizing Elliott Wave principles for technical analysis. Identified as a "Counter Trend" scenario, the analysis suggests that the current market direction opposes the prevailing trend, indicating a potential reversal or corrective movement against the broader price trend. Traders may expect a temporary deviation from the primary trend before a potential resumption or continuation. Described as "Corrective" in mode, the analysis indicates that the current market movement is part of a corrective phase within the broader Elliott Wave cycle. This suggests that the current movement is corrective in nature and may not necessarily signal a reversal of the overall trend but rather a temporary pause or retracement. The "STRUCTURE" is identified as "blue wave C," providing clarity on the current wave count within the corrective phase. This aids traders in understanding the ongoing corrective pattern and its relation to the broader Elliott Wave structure. Positioned as "black wave 2," the analysis highlights the current wave count within the broader Elliott Wave cycle, indicating the specific phase of the correction within the larger wave structure. This suggests that the market is currently undergoing a correction after completing a larger degree wave. The "DIRECTION NEXT HIGHER DEGREES" is stated as "black wave 3," suggesting the anticipated direction for the subsequent higher-degree wave. This implies that once the current corrective phase completes, the market may resume its upward movement within the broader Elliott Wave structure. In the "DETAILS" section, it is noted that "blue wave B of 2 completed at 1.28041, now blue wave C of 2 is in play." This indicates that the current corrective phase is ongoing, with the expectation of completion before a potential resumption of the broader trend. In summary, the GBPUSD Elliott Wave Analysis for the day chart offers traders valuable insights into potential corrective movements, critical levels to monitor, and the anticipated direction within the broader Elliott Wave structure, aiding in informed trading decisions. GBPUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, British Pound/U.S.Dollar (GBPUSD) 4 Hour Chart GBPUSD Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: impulsive as C STRUCTURE: red wave 3 POSITION: blue wave C DIRECTION NEXT HIGHER DEGREES: red wave 4 DETAILS: red wave 2 completed at 1.26676 , now red wave 3 of C is in play . Wave Cancel invalid level: 1.28069 The GBPUSD Elliott Wave Analysis for the 4-hour chart provides insights into potential price movements of the British Pound against the US Dollar, utilizing Elliott Wave principles for technical analysis. Identified as a "Counter Trend" scenario, the analysis suggests that the current market direction opposes the prevailing trend, indicating a potential reversal or corrective movement against the broader price trend. Traders may anticipate a temporary deviation from the primary trend before a potential resumption or continuation. Described as "impulsive as C" in mode, the analysis indicates that the current market movement exhibits characteristics of impulsive price action within the corrective phase. This implies that the corrective movement is unfolding in a rapid and directional manner, potentially leading to significant price changes. The "STRUCTURE" is identified as "red wave 3," providing clarity on the current wave count within the Elliott Wave cycle. This aids traders in understanding the ongoing corrective pattern and its relation to the broader Elliott Wave structure. Positioned as "blue wave C," the analysis highlights the current wave count within the corrective phase, indicating the specific phase of the correction within the broader Elliott Wave cycle. This suggests that the market is currently undergoing a correction before potentially resuming its downward movement. The "DIRECTION NEXT HIGHER DEGREES" is stated as "red wave 4," suggesting the anticipated direction for the subsequent higher-degree wave. This implies that once the current corrective phase completes, the market may resume its downward movement within the broader Elliott Wave structure. In the "DETAILS" section, it is noted that "red wave 2 completed at 1.26676, now red wave 3 of C is in play." This indicates that the current corrective phase is ongoing, with the expectation of completion before a potential resumption of the broader trend. In summary, the GBPUSD Elliott Wave Analysis for the 4-hour chart offers traders valuable insights into potential corrective movements, critical levels to monitor, and the anticipated direction within the broader Elliott Wave structure, aiding in informed trading decisions. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge Daily Chart, Bitcoin/ U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Double Zigzag Position: Wave ((Y)) Direction Next higher Degrees: wave (III) Wave Cancel invalid level: 31046.25 Details: The corrective of Wave IV is equal to 38.2% of Wave III at 57663 Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: After the black III wave continued to rise for a long time, Bitcoin entered a correction period. In the fourth wave, it often went down to test the 38.2% level at 57868 before rising again in the fifth wave. So wait for the correction to complete to re-enter the trend. Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum. Elliott Wave Analysis TradingLounge 4Hr Chart, Bitcoin/ U.S. dollar(BTCUSD) BTCUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Double Zigzag Position: Wave ((Y)) Direction Next higher Degrees: wave (III) Wave Cancel invalid level: 31046.25 Details: The corrective of Wave IV is equal to 38.2% of Wave III at 57663 Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: After the black III wave continued to rise for a long time, Bitcoin entered a correction period. In the fourth wave, it often went down to test the 38.2% level at 57868 before rising again in the fifth wave. So wait for the correction to complete to re-enter the trend. Bitcoin/ U.S. dollar(BTCUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum. Technical Analyst : Kittiampon Somboonsod

Unlocking ASX Trading Success: COMPUTERSHARE LIMITED. - CPU Stock Analysis & Elliott Wave Technical Forecast ASX: COMPUTERSHARE LIMITED. - CPU Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COMPUTERSHARE LIMITED. - CPU. We have identified that CPU will continue to push higher, as the price of CPU has not yet risen significantly, as updated in our Top 50 ASX Stocks service. And now we identify that CPU will continue to push higher towards the target of 27.08 as the immediate objective. ASX: COMPUTERSHARE LIMITED. - CPU Elliott Wave Technical Analysis ASX: COMPUTERSHARE LIMITED. - CPU 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 2-red appears to have bottomed out around 22.87, and wave 3-red is now unfolding. It subdivides into waves ((i)) and ((ii)) in green, and it seems they have completed. Now, wave ((iii)) in green is expected to resume its upward movement, with the price staying above 25.06 providing a significant advantage for this outlook. Invalidation point: 22.87 ASX: COMPUTERSHARE LIMITED. - CPU Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) 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 ((ii))-green bottomed out at a low of 24.42, and now wave ((iii))-green is unfolding to continue pushing higher, targeting an immediate objective around 27.08. Maintaining a price above 25.97 is an advantage and provides positive support for the continuation of this upward trend. Invalidation point: 24.42 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: COMPUTERSHARE LIMITED. - CPU 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).

Bitcoin Elliott Wave current pattern in the 70 - 65 range is a corrective wave 4 and will complete in a few sessions.

Commodity: Bitcoin, USD, Gold, Silver, China, Uranium, Oil, Gas, Elliott Wave Strategies Update on Commodity Market Analysis Using Elliott Wave Theory: Bitcoin's Elliott Wave pattern, specifically wave c) of 4, is nearing completion, mirroring the Nasdaq's pattern. The USD DXY and 10-year yields are on an upward trajectory, whereas TLT Bonds are trending downwards. Gold and silver, along with GDX, are showing signs of increased upside potential. In the energy sector, crude oil prices are expected to rise, aligning with the dollar's movement, and natural gas is exhibiting two distinct wave patterns. Video Chapters 00:00 Bitcoin (BTC) 02:57 US Dollar Index, DXY / TLT Bonds. US Gov Bonds 10 Yr Yields 11:10 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG 22:21 Base Metals:China, Uranium URA ETF / 32:13 Energy: Crude Oil WTI OIL / Natural Gas NG

Corn Elliott Wave Analysis Function - Trend Mode - Counter-Trend Structure - Expecting Impulse Wave Position - Wave 3 Direction - Wave 3 is still in play Details - Wave 2 ended. The surge afterward suggests wave 3 is in play. A break above 448’4 confirms that. Further extension upwards of 480-517 is expected to complete the impulse from 394. Corn concluded March on a positive note, extending its recovery from the final week of February. Within a span of slightly over a month, the commodity has managed to regain more than 10% of its value. However, this apparent rebound must be contextualized against the broader trend: between April 2022 and February 2024, Corn experienced a staggering decline, losing over half of its value. Thus, while the recent uptick is noteworthy, it remains relatively minor when considering the larger historical context. While a complete recovery from the slump of the past two years seems less probable, the ongoing uptrend may persist for a while before encountering resistance from bearish forces. In this commodity analysis, we aim to delve into the potential extent of the current bounce and offer insights on how traders can strategically position themselves to capitalize on it. Examining the daily timeframe, the decline from the peak of 824 in April 2022 to the low of 394 in February 2024 appears to have formed an A-B-C pattern, though there's a possibility it could evolve into a bearish impulse. Consequently, it's reasonable to anticipate that the current recovery will manifest as a 3-wave bounce, targeting at least a 23.6-38.3% Fibonacci retracement zone (470-524) relative to the sell-off from April 2022. On the H4 timeframe, we observe the initial phase of this 3-wave recovery. The completion of the first leg, identified as Blue wave A on the daily timeframe, marked the conclusion of Wave 1, followed by a corrective wave 2. The initiation of Wave 3 is signaled by a significant bullish candle, with confirmation contingent upon a breakout above 448. Should the price action remain choppy and fail to sustain above 448, or worse, drop below 426, it would imply a deeper retracement for wave 2. Nonetheless, regardless of the specifics, the overarching expectation is for Wave 3 to extend the rally from February 2024 towards higher price levels, whether initiated from above 448 or below 426, as long as the low of 394 remains unbroken. Traders should remain vigilant and adapt their strategies accordingly to navigate the evolving market dynamics.

WMT Elliott Wave Analysis Trading Lounge Daily Chart, Walmart Inc., (WMT) Daily Chart WMT Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulse STRUCTURE: Motive POSITION: Minor wave 3 of Intermediate (3). DIRECTION: Upside in wave 3. DETAILS: We are looking for Minor wave 3 to unfold in front of our eyes. We could be seeing a potential top in wave {iii}, as we are in an higher degree wave (5) we could also end up forming an ending diagonal. WMT Elliott Wave Analysis Trading Lounge Walmart Inc., (WMT) 4Hr Chart WMT Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Zigzag POSITION: Wave (a) of {iv}. DIRECTION: Downside into wave {iv}. DETAILS: We could have topped before Medium Level 65$ or else we have not completed wave {iii} yet. We have however reached equality of wave {iii} vs. {i} at 60.84$. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! Welcome to our WMT Elliott Wave Analysis Trading Lounge, where we delve into Walmart Inc. (WMT) using Elliott Wave Technical Analysis. Let's explore the market dynamics on the Daily Chart. *WMT Elliott Wave Technical Analysis – Daily Chart* Our analysis indicates a trending function characterized by impulse mode and motive structure, positioned in Minor wave 3 of Intermediate (3). The direction signals an upside momentum in wave 3. As we observe the unfolding of Minor wave 3, there's potential for a top formation in wave {iii}. Considering the higher degree wave (5), there's also the possibility of forming an ending diagonal pattern. *WMT Elliott Wave Technical Analysis – 4Hr Chart* Here, we identify a counter trend function marked by corrective mode and zigzag structure, positioned in Wave (a) of {iv}. The direction indicates a downside trajectory into wave {iv}. There's a possibility that we've reached a top before Medium Level $65, or alternatively, wave {iii} might not have completed yet. However, it's noteworthy that we've reached equality of wave {iii} versus {i} at $60.84.

NZDUSD Elliott Wave Analysis Trading Lounge Day Chart, New Zealand Dollar/U.S.Dollar (NZDUSD) Day Chart NZDUSD Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: blue wave C POSITION: black wave 2 DIRECTION NEXT HIGHER DEGREES: black wave 3 DETAILS blue wave C of 2 is in play and looking near to end.After that black wave 3 will start. Wave Cancel invalid level: 0.57750 The NZDUSD Elliott Wave Analysis for the day chart provides insights into potential price movements of the New Zealand Dollar against the US Dollar, using Elliott Wave principles for technical analysis. Identified as a "Counter Trend" scenario, the analysis indicates that the current market direction opposes the prevailing trend, suggesting a potential reversal or corrective movement against the broader price trend. This suggests that traders may anticipate a temporary deviation from the primary trend before a potential resumption or continuation. Described as "Corrective" in mode, the analysis suggests that the current market movement exhibits characteristics of corrective price action, indicating a temporary pause or retracement within the broader market trend. This implies that traders may expect a corrective phase before the potential continuation of the primary trend. The "STRUCTURE" is identified as "blue wave C," providing clarity on the current wave count within the Elliott Wave cycle. This aids traders in understanding the ongoing corrective pattern and its relation to the broader Elliott Wave structure. Positioned as "black wave 2," the analysis highlights the current wave count within the corrective phase, indicating the specific phase of the correction within the broader Elliott Wave cycle. This suggests that the market is currently undergoing a correction before potentially resuming its upward movement. The "DIRECTION NEXT HIGHER DEGREES" is stated as "black wave 3," suggesting the anticipated direction for the subsequent higher-degree wave. This implies that once the current corrective phase completes, the market may resume its upward movement within the broader Elliott Wave structure. In the "DETAILS" section, it is noted that "blue wave C of 2 is in play and looking near to end. After that black wave 3 will start." This indicates that the current corrective phase is ongoing, with the expectation of completion before a potential resumption of the broader trend. In summary, the NZDUSD Elliott Wave Analysis for the day chart offers traders valuable insights into potential corrective movements, critical levels to monitor, and the anticipated direction within the broader Elliott Wave structure, aiding in informed trading decisions. NZDUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart, New Zealand Dollar/U.S.Dollar (NZDUSD) 4 Hour Chart NZDUSD Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Impulsive as C STRUCTURE: red wave 5 POSITION: blue wave C DIRECTION NEXT HIGHER DEGREES: black wave 3 DETAILS red wave 4 of C completed , now red wave 5 of C is in play. Wave Cancel invalid level: 0.57750 The NZDUSD Elliott Wave Analysis for the 4-hour chart offers insights into the potential price movements of the New Zealand Dollar against the US Dollar, employing Elliott Wave principles for technical analysis. Identified as a "Counter Trend" scenario, the analysis suggests that the current market direction opposes the prevailing trend, indicating a potential reversal or corrective movement against the broader price trend. This implies that traders may anticipate a temporary deviation from the primary trend before a potential resumption or continuation. Described as "Impulsive as C" in mode, the analysis indicates that the current market movement exhibits characteristics of impulsive price action, suggesting strong and decisive movements in the direction of the counter trend move. The "STRUCTURE" is identified as "red wave 5," providing clarity on the current wave count within the Elliott Wave cycle. This aids traders in understanding the ongoing counter trend move and its relation to the broader Elliott Wave pattern. Positioned as "blue wave C," the analysis highlights the current wave count within the counter trend move, indicating the specific phase of the corrective pattern within the broader Elliott Wave cycle. The "DIRECTION NEXT HIGHER DEGREES" is stated as "black wave 3," suggesting the anticipated direction for the subsequent higher-degree wave. This implies that once the current counter trend move completes, the market may resume its upward movement within the broader Elliott Wave structure. In the "DETAILS" section, it is noted that "red wave 4 of C completed, now red wave 5 of C is in play." This indicates that the current counter trend move is ongoing, with the expectation of further downside movement before a potential reversal or continuation of the broader trend. In summary, the NZDUSD Elliott Wave Analysis for the 4-hour chart offers traders valuable insights into potential counter trend movements, corrective phases, and critical levels to monitor within the broader Elliott Wave structure, aiding in informed trading decisions. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge Daily Chart, 2 April 2024, Theta Token/ U.S. dollar(THETAUSD) THETAUSD Elliott Wave Technical Analysis Function: Counter trend Mode: Corrective Structure: Flat Position: Wave ((B)) Direction Next higher Degrees: wave I of Impulse Wave Cancel invalid Level: Details: the corrective of Wave 4 has a trend to 38.2% of Wave 3 Theta Token/ U.S. dollar(THETAUSD)Trading Strategy: Theta Token is still in an uptrend. With the Impulse style movement, we are still missing two more moves to complete the style. in the fourth wave decline and increase again in the fifth wave. And currently prices are correcting in the fourth wave. It is likely to go down to test 2.168, waiting for the correction to complete to join the trend again. Theta Token/ U.S. dollar(THETAUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a bullish Momentum TradingLounge Analyst: Kittiampon Somboonsod, CEWA Elliott Wave Analysis TradingLounge 4H Chart, 2 April 2024, Theta Token/ U.S. dollar(THETAUSD) THETAUSD Elliott Wave Technical Analysis Function: Counter trend Mode: Corrective Structure: Flat Position: Wave ((B)) Direction Next higher Degrees: wave I of Impulse Wave Cancel invalid Level: Details: the corrective of Wave 4 has a trend to 38.2% of Wave 3 Theta Token/ U.S. dollar(THETAUSD)Trading Strategy: Theta Token is still in an uptrend. With the Impulse style movement, we are still missing two more moves to complete the style. in the fourth wave decline and increase again in the fifth wave. And currently prices are correcting in the fourth wave. It is likely to go down to test 2.168, waiting for the correction to complete to join the trend again. Theta Token/ U.S. dollar(THETAUSD)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!

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. We have identified a potential opportunity with wave ((v))-green opening up to push higher, following the wave ((iv))-green that just ended. ASX: COCHLEAR LIMITED - COH Elliott Wave Technical Analysis ASX: COCHLEAR LIMITED - COH 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave ((v))-green of Wave 5-red Details: The short-term outlook indicates that wave 5-red is unfolding to push higher, while wave ((iv))-green appears to be nearing completion. This sets the stage for the resurgence of wave ((v))-green to push higher, targeting 371.48. While price sustaining above the 323.00 level would be a significant advantage and provide good support for this outlook. Invalidation point: 305.80 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 ((v))-green of Wave 5-red Details: The shorter-term outlook suggests that wave ((iv))-green appears to have just concluded around 323.00, and wave ((v))-green is now unfolding to push higher. It is targeting an immediate goal around 358.76, or possibly even further to 371.48, while the price must remain above the 323.00 level. Invalidation point: 323.00 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).

NASDAQ Stock Market Elliott Wave Analysis and Strategy: Insights on NASDAQ 100, Top-Tier Stocks Including Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), and Alphabet (GOOGL) In our Elliott Wave analysis of the NASDAQ stock market, we anticipate that indices will experience an uptrend, mirroring the positive trajectory observed in stocks such as Amazon (AMZN). However, several stocks are poised for a minor decline as they approach the completion of their Wave 4 corrections. Notably, Apple (AAPL) and Tesla (TSLA) may face a more significant downturn. Additionally, we examine JPMorgan Chase & Co. (JPM), highlighting the upward trend in banking stocks that aligns with the overall upward movement of the SP500 and AMZN. Video Chapters 00:00 NASDAQ 100 (NDX) SPX 05:08 Apple (AAPL) 05:31 Amazon (AMZN) 07:14 Meta Platforms (META) 08:07 NVIDIA (NVDA) 09:22 Netflix (NFLX) 09:53 Alphabet (GOOGL) 11:03 Microsoft MSFT 11:49 Tesla (TSLA) Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge.com

Corn Elliott wave analysis Function - Trend Mode - Impulsive Structure - Impulse Wave Position - Wave 2 in progress Direction - Upwards for wave 3 Details - A break below 434 means wave 2 is taking a lower leg for an expanding flat and could enter 423-415. Not much has changed since the last update. In the intricate world of commodities trading, particularly in the realm of corn prices, the Elliott wave theory offers a compelling lens through which we can analyze recent movements and anticipate future trends. As of the time of crafting this analysis, corn prices have embarked on a retracement journey following a notable surge of over 12% witnessed between the dates of 26 February 2024 and 12 March 2024. Presently hovering below the $430 mark, indications suggest a continuation of this pullback trajectory, potentially dipping below the $420 threshold. However, amidst this temporary setback, glimmers of optimism emerge from the shadows, hinting at a forthcoming resurgence echoing the momentum initiated on 26 February, when prices bottomed out at $394. To fully grasp the potential trajectory of corn prices, let's delve into the historical context provided by the Elliott wave theory. In April 2022, corn traded at a robust $814, albeit falling slightly shy of its peak in 2012 at $846. From this pinnacle, the price embarked on a tumultuous descent, plummeting to $394—a staggering 52% decline within approximately 22 months. Within this tumultuous period, the market completed three distinct swings, painting a picture of either an impulse or a simple A-B-C pattern. Should the former scenario hold, the completion of the third wave suggest a forthcoming minor bullish correction, potentially manifesting as the fourth wave. Conversely, in the latter scenario, a bullish correction remains probable, if not an outright impulse upside. In either case, the prevailing sentiment leans towards a bullish reaction, with the path of least resistance indicating at least a three-wave bounce. This sentiment gains traction with the inception of sub-waves within the broader blue wave A, emanating from the $394 low. Zooming into the H4 timeframe, we discern the intricate dance of waves unfolding before our eyes. The completion of wave 1 within the blue A wave sets the stage for the ongoing progression of wave 2, poised to carve its path within the 424-413 zone before pivoting upwards for wave 3. Uncertainties loom, as we await confirmation of wave 3's commencement, signaled by the breach of the $445 pinnacle. In this tapestry of market dynamics, opportunities abound for astute traders poised to capitalize on the unfolding patterns. With the potential for blue wave A to ascend to lofty heights of $500, buying the dips will be the way to go. As we navigate the ebbs and flows of corn prices through the lens of Elliott wave analysis, we stand primed to seize the opportunities that lie ahead, armed with insights gleaned from a meticulous examination of market dynamics. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com

AAPL Elliott Wave Analysis Trading Lounge Daily Chart, 28 March 2024 Apple Inc., (AAPL) Daily Chart AAPL Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (5) DIRECTION: Upside in wave 3 of (5). DETAILS: We are looking at Apple being in a larger correction, differentiating from the rest of the major SPX components. We are exploring the possibility of a triangle in wave {b} of 2 or else we could also be in some sort of complex correction swill in wave 2. AAPL Elliott Wave Analysis Trading Lounge 4H Chart, 28 March 2024 Apple Inc., (AAPL) 4H Chart AAPL Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {iii} of 3. DIRECTION: Upside in wave {iii}. DETAILS: Here we explore the possibility of further upside into wave {iii} as there is a possibility for a five wave move into wave {i} and we are finding support on the middle of MG2 at 172$. Looking for continuation higher to give us additional confirmation. Welcome to our AAPL Elliott Wave Analysis Trading Lounge, where we delve into Apple Inc. (AAPL) using Elliott Wave Technical Analysis. Let's uncover the market dynamics on the Daily Chart as of March 28, 2024. *AAPL Elliott Wave Technical Analysis – Daily Chart* Our analysis indicates a trending function characterized by impulsive mode and motive structure, positioned in Wave (5). The direction signals an upside momentum in wave 3 of (5). Apple appears to be undergoing a larger correction, setting it apart from other major SPX components. We're currently exploring the possibility of a triangle formation in wave {b} of 2, or alternatively, we could be experiencing a complex correction within wave 2. * AAPL Elliott Wave Technical Analysis – Daily Chart* Here, we also identify a trending function marked by impulsive mode and motive structure, positioned in Wave {iii} of 3. The direction indicates an upside trajectory in wave {iii}. Our analysis suggests the potential for further upside into wave {iii}, supported by the possibility of a five-wave move into wave {i}. We are currently finding support around the middle of MG2 at $172, anticipating continuation higher to provide additional confirmation. Technical Analyst : Alessio Barretta 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 STRUCTURE: blue wave 1 POSITION: Black wave C DIRECTION NEXT HIGHER DEGREES: blue wave 2 DETAILS : black wave B completed at 100.166 . Now blue wave 1 of C is in play. Wave Cancel invalid level:100.166 The AUDJPY Elliott Wave Analysis for the day chart provides insights into the potential price movements of the Australian Dollar against the Japanese Yen, utilizing Elliott Wave principles for technical analysis. Identified as a "Counter Trend" scenario, the analysis suggests that the current market direction opposes the prevailing trend, indicating a potential reversal or corrective movement against the broader price trend. This implies that traders may anticipate a temporary deviation from the primary trend before a potential resumption or reversal. Described as "impulsive" in mode, the analysis indicates that the current market movement exhibits characteristics of impulsive price action, suggesting strong and decisive movements in the direction of the current trend or counter trend move. The "STRUCTURE" is identified as "blue wave 1," providing clarity on the current wave count within the Elliott Wave cycle. This aids traders in understanding the ongoing counter trend move and its relation to the broader Elliott Wave pattern. Positioned as "Black wave C," the analysis highlights the current wave count within the counter trend move, indicating the specific phase of the corrective pattern within the broader Elliott Wave cycle. The "DIRECTION NEXT HIGHER DEGREES" is stated as "blue wave 2," suggesting the anticipated direction for the subsequent higher-degree wave. This implies that once the current counter trend move completes, the market may resume its upward movement within the broader Elliott Wave structure. In the "DETAILS" section, it is noted that "black wave B completed at 100.166. Now blue wave 1 of C is in play." This indicates that the current counter trend move is ongoing, with the expectation of further upside movement before a potential reversal or continuation of the broader trend. In summary, the AUDJPY Elliott Wave Analysis for the day chart offers traders valuable insights into potential counter trend movements, corrective phases, and critical levels to monitor within the broader Elliott Wave structure, aiding in informed trading decisions. 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 NEXT LOWER DEGREES: red wave 3 DETAILS red wave 1 of 1 looking completed at 98.500 ,now red wave 2 of 1 is in play. Wave Cancel invalid level:100.166 The AUDJPY Elliott Wave Analysis for the 4-hour chart provides insights into the potential price movements of the Australian Dollar against the Japanese Yen, employing Elliott Wave principles for technical analysis. Identified as a "Trend" scenario, the analysis suggests that the current market direction aligns with the prevailing trend, indicating a potential continuation of the broader price movement. This implies that traders may anticipate further movements in the direction of the established trend. Described as "corrective" in mode, the analysis indicates that the current market movement represents a corrective phase within the broader price action. This suggests that the current movement may serve to correct the preceding impulse wave, potentially leading to a temporary deviation from the primary trend before a potential resumption. The "STRUCTURE" is identified as "Red wave 2," providing clarity on the current wave count within the Elliott Wave cycle. This aids traders in understanding the ongoing corrective phase and its relation to the broader Elliott Wave pattern. Positioned as "Blue wave 1," the analysis highlights the current wave count within the corrective phase, indicating the specific phase of the corrective pattern within the broader Elliott Wave cycle. The "DIRECTION NEXT LOWER DEGREES" is stated as "red wave 3," suggesting the anticipated direction for the subsequent lower-degree wave. This implies that once the current corrective phase completes, the market may resume its downward movement within the broader Elliott Wave structure. In the "DETAILS" section, it is noted that "red wave 1 of 1 looking completed at 98.500, now red wave 2 of 1 is in play." This indicates that the current corrective phase is ongoing, with the expectation of further downside movement before a potential reversal and the start of a new trend. In summary, the AUDJPY Elliott Wave Analysis for the 4-hour chart offers traders valuable insights into potential price movements, corrective phases, and critical levels to monitor within the broader Elliott Wave structure, aiding in informed trading decisions. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!