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ASX: ASX LIMITED – ASX Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with ASX LIMITED – ASX. In our Top 50 ASX service, we accurately forecasted that ASX would decline with a corrective wave from near the high of $68.25 down to near $62.00. Now, this corrective wave appears to be nearing completion, so we have identified a good trading opportunity with ASX and are continuously monitoring. ASX: ASX LIMITED – ASX Elliott Wave Technical Analysis ASX: ASX LIMITED – ASX 1D Chart (Semilog Scale) Analysis Function: Major (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave (c)-green of Wave 2-red Last Forecast: The latest push lower forecast was correct. Details: Short-term outlook suggests that wave 1-red has reached its peak, and wave 2-red is currently underway, expected to continue declining to lower levels. It will likely push further down towards the target around 62.97 before wave 3-red resumes to push higher again. With the support target identified or possibly pushed a little lower, I am waiting for a buying opportunity to set up. Invalidation point: 68.25 ASX: ASX LIMITED – ASX Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: ASX LIMITED – ASX Elliott Wave Technical Analysis ASX: ASX LIMITED – ASX 4-Hour Chart Analysis Function: Counter trend (Minute degree, green) Mode: Corrective Structure: Flat Position: Wave (iv)-purple of Wave ((c))-green Details: The short-term outlook further indicates that the details of wave 2-red unfolding appear to resemble a Flat correction. Waves ((a))-green and ((b))-green have likely completed, and now wave ((c))-green also seems to be nearing completion. Wave ((c))-green is subdivided into waves (i)-(iii)-purple, which have likely finished. Now, it's time for wave (iv) to push slightly higher, followed by a potential decline in wave (v)-purple to push lower and complete the entire wave 2-red. The alternative wave count suggests that wave 2-red may be completing as a ABC-green pattern. Regardless, I am closely monitoring ASX to prepare for a buying opportunity. Invalidation point: 64.82 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: ASX LIMITED – ASX aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

Elliott Wave Analysis TradingLounge Daily Chart, Binance / U.S. dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave ((v)) Direction Next higher Degrees: wave 3 Wave Cancel invalid level: 287.5 Details: Wave ((V)) is equal to wave ((1) at 734.4 Binance / U.S. dollar(BNBUSD)Trading Strategy: Binance is still in an uptrend in the form of an Impulse Wave and the price has a chance to test the 734.4 level before correcting again. Therefore, the overall picture is still a continuous increase. Look for opportunities to open long positions. Binance / U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Elliott Wave Analysis TradingLounge 4Hr Chart, Binance / U.S. dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave ((v)) Direction Next higher Degrees: wave 3 Wave Cancel invalid level: 287.5 Details: Wave ((V)) is equal to wave ((1) at 734.4 Binance / U.S. dollar(BNBUSD)Trading Strategy: Binance is still in an uptrend in the form of an Impulse Wave and the price has a chance to test the 734.4 level before correcting again. Therefore, the overall picture is still a continuous increase. Look for opportunities to open long positions. Binance / U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!

Stock Market Report S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200. Elliott Wave Technical Analysis Elliott Wave Analysis Indices: CPI Figures spike indices lower towards the 38% as Minor Wave 4 for the SP500, Nasdaq 100 and the DAX 40. IWM can dip a little lower to complete Wave (v) of c) of 2. The FTSE 100 count is Wave ii of (v) of iii) so it can continue to move higher in due course. ASX200 and CBA's Wave ii) may need to be extended slightly lower and looking for a bullish up move on Friday. Video Chapters 00:00 SP 500 (SPX) JPM, BAC, XLF Finance Sector 13:16 NASDAQ (NDX) 14:45 Russell 2000 (RUT) 16:29 DAX 40 (DAX) 20:08 FTSE 100 UKX (UK100) 24:09 S&P/ASX 200 (XJO) 30:05 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com

WTI Elliott wave analysis Function - Counter-trend Mode - Corrective Structure - Zigzag Position - Wave (c) of ‘y’ Direction - Bearish for the start of wave (C) Details - Price starting to turn down after completing the sub-waves of wave Y of (B). The bearish impulse for wave 1 is expected with invalidation at 87.63. Crude oil buyers are finding resistance just below $88 as the commodity is turning down a little. Is this a matter of another pullback before the rally as we have seen since the turn of the year 2024 or the corrective rally that started in December 2023 has closed and the preceding bearish trend between September and December 2023 is about to begin? Large moves often start with small moves. Is a sentiment shift looming on crude oil? In today’s blog post, we will look to analyze crude oil's long and medium-term price action to forecast what we will be expecting next. On the daily time frame, a long-term bearish correction started in March 2022 when the commodity exchanged for $130.9. This was expected to correct the bullish trend, between April 2020 and March 2022, that saw crude oil ‘rose from the dead’ after being battered by the global Covid lockdowns. This correction has now lasted for over two years. It’s very likely to see the commodity drop back to the pre-covid prices between $64 and $50. Looking at the correction from the prism of the Elliott wave theory, as the daily chart shows, the decline from March 2022 ($130.9) to March 2023 ($64.5) completed a 3-wave. The response from $64.5 to September 2023 ($95) also completed a 3-wave. This suggests that the decline from the $130.9 high could be evolving in a double three (zigzag) pattern. Thus, we labeled them as wave ‘W’-’X’-’Y‘ (circled in blue). While waves ‘W’ and ‘X’ have been completed, wave ‘Y’ is still evolving from September 2023 ($95) and by projection could continue lower to $54.5-$46.8. Another thing to note is that wave ‘Y’ is also evolving into a double three (zigzag) labeled wave (A)-(B)-(C). The current rally from December is wave (B) and is expected to end below $95 before sellers take over for wave (Y) below $67.8 low. Wave (B) is completing a double 3 pattern as well. On the H4 time frame, wave Y of (B) could have ended or may rally toward the $90 major level if $87.63 is breached upside. In all of these, picking the top is not advised. To ascertain that wave (B) has ended, we should see an impulse or a sharp 3-wave dip toward 60. Otherwise, small dips will lead to a higher leg toward$ 90. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

META Elliott Wave Analysis Trading Lounge Daily Chart, Meta Platforms Inc., (META) Daily Chart META Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulse STRUCTURE: Motive POSITION: Minor 5 DIRECTION: Upside in wave 5 of (5). DETAILS: Looking for continuation higher towards equality of 5 vs. 1 at 600$. META Elliott Wave Analysis Trading Lounge 4Hr Chart, Meta Platforms Inc., (META) 4Hr Chart META Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulse STRUCTURE: Motive POSITION: Wave {iii} of 5. DIRECTION: Acceleration higher into wave {iii} DETAILS: Looking for further upside into wave {iii}, with an invalidation level at 480$, we are now sitting at previous higher around 520 and we need to take off from Miner Group 2 at 530$ to then start aiming for upside target at 600$. Welcome to our META Elliott Wave Analysis Trading Lounge, where we delve into Meta Platforms Inc. (META) using Elliott Wave Technical Analysis. Let's explore the market dynamics on the Daily Chart as of April 10, 2024. * GOOGL Elliott Wave Technical Analysis – Daily Chart* Our analysis reveals a trending function characterized by impulse mode and motive structure, positioned in Minor 5. The direction indicates upside movement in wave 5 of (5). We anticipate further upward continuation, targeting the equality of 5 vs. 1 at $600. * GOOGL Elliott Wave Technical Analysis – 4hr Chart* Here, we identify a trending function marked by impulse mode and motive structure, positioned in Wave {iii} of 5. The direction suggests acceleration higher into wave {iii}. Our attention is on further upside potential in wave {iii}. It's noteworthy that our invalidation level is at $480. Currently, we are approaching the previous high around $520, aiming to surpass Minor Group 2 at $530 to target the upside objective at $600.

Elliott Wave Analysis TradingLounge Daily Chart Theta Token/ U.S. dollar(THETAUSD) THETAUSD Elliott Wave Technical Analysis Function: Counter trend Mode: Corrective Structure: Zigzag 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 bearish Momentum. Elliott Wave Analysis TradingLounge 4Hr Chart 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 bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!

ASX: REECE LIMITED – REH Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with REECE LIMITED - REH. We confirm that the price action is consolidating and extending horizontally, as well as converging, suggesting a Triangle pattern nearing completion. Therefore, following the Triangle, there will be a trading opportunity within the bull market. ASX: REECE LIMITED - REH Elliott Wave Technical Analysis ASX: REECE LIMITED - REH 1D Chart (Semilog Scale) Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave (iv)-purple of Wave ((v))-green Details: The short-term outlook indicates that wave (iv)-purple appears to have completed, and wave (v)-purple is ready to resume its upward movement at any moment. It is targeting a goal of 31.10, while maintaining a price above 25.95 is advantageous and provides significant support for this outlook. Invalidation point: 22.90 ASX: REECE LIMITED - REH Elliott Wave Technical Analysis TradingLounge (4- Hour Chart) ASX: REECE LIMITED - REH Elliott Wave Technical Analysis ASX: REECE LIMITED - REH 4-Hour Chart Analysis Function: Major trend (Minuette degree, purple) Mode: Motive Structure: Impulse Position: Wave (iv)-purple Details: The shorter-term outlook further suggests that the (iv)-purple wave is unfolding as a Triangle pattern. The indication of a Triangle pattern comes from the price action consolidating horizontally and gradually narrowing. Therefore, this Triangle pattern seems to be nearing completion with the d-blue and e-blue waves, and after the Triangle is finished, the (v)-purple wave will likely push higher. As long as the price remains above the level of 26.79, if the price drops below this level, it would suggest that this Triangle pattern is invalidated. Invalidation point: 26.79 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: REECE LIMITED - REH aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

Commodity Market Elliott Wave Analysis for Bitcoin, TLT Bonds, US 10 Yr. Yields, USD/ DXY, Gold, Silver, China Index, Copper, Uranium, Crude Oil, Natural Gas Commodity Market Elliott Wave Analysis Update: Bitcoin and ETH can still be in wave four corrective pattern, if so, the pattern is in its final stages and can expect new highs for cryptos in due course with confidence. Dollar, bonds and yields - I take a look at two Elliott counts as the pathway no clear. Precious metals gold and silver are trending higher in the medium term and I suggest holding long. Video Chapters 00:00 Bitcoin (BTC) 09:21 US Dollar Index, DXY / TLT Bonds. US Gov Bonds 10 Yr Yields 14:07 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG 20:16 Base Metals:China, Uranium URA ETF / 30:10 Energy: Crude Oil WTI OIL / Natural Gas NG 35:20 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge. com Free Week Next Monday

Wheat Elliott Wave Analysis Function - Trend Mode - Trend Structure - Diagonal (D1) Position - Blue wave ‘x’ Direction - Downwards for blue wave ‘y’ of Y of (5) Details - Rallies were rejected again at the 559-572 Fib resistance zone as blue wave ‘x’ completed a triple three pattern. The structure still favors the downside for blue wave ‘y’ of Y of (5) especially if 540 is broken downside. Wheat has recently concluded a triple-three pattern that commenced on March 11, 2023. With this pattern's completion, the commodity now appears poised to extend lower, continuing the long-term bearish trend that initiated in March 2022. Notably, this long-term bearish trend is nearing the final stage of an impulse wave pattern. As the impulse pattern draws to a close, a significant rebound is anticipated, expected to be the most substantial since the trend's inception over two years ago. In today's commodity blog post, we will delve into the current state of the bearish trend preceding this impending recovery and explore strategies for short-term traders to navigate what may constitute the final leg of the trend. Analyzing the daily timeframe, we observe a bearish impulse wave pattern originating from 1364. This impulse wave is culminating with an ending diagonal pattern, which has exhibited the lengthiest duration among the waves within the impulse. The sub-waves of the diagonal 5th are delineated in red as wave (1) to (5). Commencing in December 2023 at 649, wave (5) is evolving into a triple three structure, as evidenced by the H4 chart. Within this triple three pattern - denoted as wave W-X-Y - the recent bounce from March 11, 2024, has concluded with another triple three pattern, wave X. We now anticipate the final leg, wave Y, to extend lower, completing the ending diagonal - denoted as wave (5) of blue wave 5 - within the long-term bearish impulse wave. Consequently, at least one more downward leg is expected before the price undergoes a substantial correction, rectifying the over two-year bearish trend. Zooming in on the H4 chart, we scrutinize the sub-waves and candlestick patterns comprising wave X. Notably, wave X concluded a triple three pattern and subsequently elicited bearish candlestick formations from a technical supply zone. Confirmation of the termination of wave Z is contingent upon the downside break of the channel, particularly below 540. Subsequently, a further sell-off to approximately 500 or thereabouts is highly probable, culminating in the completion of wave Z of (5) of blue wave 5. Following this, a bullish correction can be anticipated as the market adjusts after the protracted bearish trend. Traders are advised to closely monitor these key levels and adjust their strategies accordingly to navigate the evolving market dynamics effectively. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

GOOGL Elliott Wave Analysis Trading Lounge Daily Chart Alphabet Inc., (GOOGL) Daily Chart GOOGL Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulse STRUCTURE: Motive POSITION: Intermediate (3). DIRECTION: Upside in wave 3 of (3). DETAILS: This is quite the bullish scenario for Alphabet, as it would project us into a third of a third. Alternatively we could expect a wave (4) in place where wave (2) stands and now upside within wave (5). GOOGL Elliott Wave Analysis Trading Lounge 4H Chart Alphabet Inc., (GOOGL) 4H Chart GOOGL Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulse STRUCTURE: Motive POSITION: Wave {b} of 2. DIRECTION: Downside in wave {c} of 2. DETAILS: Looking for either another leg lower into wave {c} of 2 or else we could move higher from where we are. We seem to be finding support on top of Medium Level 150$ therefore we could see further upside. Welcome to our GOOGL Elliott Wave Analysis Trading Lounge, where we provide insights into Alphabet Inc. (GOOGL) using Elliott Wave Technical Analysis. Let's examine the market dynamics on the Daily Chart. * GOOGL Elliott Wave Technical Analysis – Daily Chart* Our analysis indicates a trending function characterized by impulse mode and motive structure, positioned in Intermediate (3). The direction suggests upside movement in wave 3 of (3). This scenario is notably bullish for Alphabet, potentially projecting us into a third of a third. Alternatively, we could anticipate wave (4) formation, considering the possibility that wave (2) has concluded, leading to upside within wave (5). * GOOGL Elliott Wave Technical Analysis – Daily Chart* Here, we identify a trending function marked by impulse mode and motive structure, positioned in Wave {b} of 2. The direction indicates downside movement in wave {c} of 2. We are observing the possibility of another leg lower into wave {c} of 2, although there is also the potential for upward movement from our current position. Notably, we are finding support atop Medium Level $150, suggesting the likelihood of further upside. 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 193.575 .Now black wave A of Red wave 4 is in play. Wave Cancel invalid level: 193.575 The GBP/JPY Elliott Wave Analysis for the daily chart provides traders with valuable insights into the potential price movements of the British Pound against the Japanese Yen, employing Elliott Wave principles for technical analysis. Identified as a "Counter Trend" scenario, the analysis indicates that the prevailing market direction is opposed to the primary trend, suggesting a potential reversal or corrective phase in the GBP/JPY pair. Traders may interpret this as a temporary deviation from the overall downtrend in the currency pair. Described as "Corrective" in mode, the analysis suggests that the current market movement represents a corrective phase 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 "Black wave A," 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 "Red wave 4," 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 HIGHER DEGREES" is denoted as "Black wave B," implying the anticipated direction for the subsequent higher-degree wave within the corrective pattern. This indicates that following the completion of the current corrective phase, a new impulsive movement may ensue before a potential continuation of the downtrend. In the "DETAILS" section, it is mentioned that "red wave 3 completed at 193.575. Now black wave A of Red wave 4 is in play." This suggests that the previous impulsive wave has completed, and the market is now in the initial phase of a corrective pattern. The "Wave Cancel invalid level" at 193.575 serves as a reference point for traders to monitor potential invalidation of the current wave count. GBPJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, British Pound/Japanese Yen(GBPJPY) 4 Hour Chart GBPJPY Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE:impulsive STRUCTURE: blue wave 3 POSITION: black wave A DIRECTION NEXT HIGHER DEGREES:blue wave 4 of A DETAILS: blue wave 2 of A may be completed or near to end, now looking for blue wave 3. Wave Cancel invalid level: 193.575 The GBP/JPY Elliott Wave Analysis for the 4-hour chart presents traders with 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" scenario, the analysis suggests that the prevailing market direction runs contrary to the primary trend, indicating a potential reversal or corrective phase in the GBP/JPY pair. This implies that traders may anticipate a temporary deviation from the overall downtrend in the currency pair. Characterized as "Impulsive" in mode, the analysis indicates that the current market movement displays characteristics of impulsiveness, suggesting a strong and sustained buying or selling momentum. In this case, it suggests a strong upward movement in the GBP/JPY pair, likely signaling a reversal from the downtrend. The "STRUCTURE" is identified as "Blue wave 3," providing clarity on the current wave count within the Elliott Wave cycle. This assists traders in understanding the ongoing bullish momentum and its alignment with the broader Elliott Wave structure. Positioned as "Black wave A," 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 HIGHER DEGREES" is denoted as "Blue wave 4 of A," implying the anticipated direction for the subsequent higher-degree wave within the corrective pattern. This indicates that following the completion of the current bullish wave, a corrective phase may ensue before a potential continuation of the downtrend. In the "DETAILS" section, it is mentioned that "blue wave 2 of A may be completed or near to end, now looking for blue wave 3." This signifies that the corrective phase of the Elliott Wave cycle may be concluding, and the market could be poised for a new impulsive movement in the direction of the counter-trend. The "Wave Cancel invalid level" at 193.575 serves as a reference point for traders to monitor potential invalidation of the current wave count. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!

Elliott Wave Analysis TradingLounge Daily Chart, Ethereum/ U.S. dollar(ETHUSD) ETHUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave (5) Direction Next higher Degrees: wave ((3)) Wave Cancel invalid level: Details: Wave (4) may be complete and prices increase again in Wave (5) Ethereum/ U.S. dollar(ETHUSD)Trading Strategy: Ethereum as a whole is moving in an uptrend with an Impulse pattern where the third-wave of the move is now complete. We are currently recovering in the short term from the fourth wave correction. And the price will rise again in the fifth wave. Looking at five opportunities to trade the fifth wave uptrend. Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a bullish Momentum. Elliott Wave Analysis TradingLounge 4H Chart, Ethereum/ U.S. dollar(ETHUSD) ETHUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave (5) Direction Next higher Degrees: wave ((3)) Wave Cancel invalid level: Details: Wave (4) may be complete and prices increase again in Wave (5) Ethereum/ U.S. dollar(ETHUSD)Trading Strategy: Ethereum as a whole is moving in an uptrend with an Impulse pattern where the third-wave of the move is now complete. We are currently recovering in the short term from the fourth wave correction. And the price will rise again in the fifth wave. Looking at five opportunities to trade the fifth wave uptrend. Ethereum/ U.S. dollar(ETHUSD)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 identify in the short term that COH could decline lower to complete a Zigzag Correction with wave ((ii))-green, followed by a potential resurgence of wave ((iii))-green to push higher. 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 ((ii))-green of Wave 5-red Details: The short-term outlook indicates that the red wave 5 is currently unfolding to push higher, subdividing into the green wave ((i)). Currently, the green wave ((ii)) is unfolding to push lower. The reason for counting this wave is because I observe that the red wave 1 and the red wave 3 are relatively equal in size in terms of price, so this provides a useful guideline to anticipate an extended red wave 5. Invalidation point: 283.70 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 (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave (c)-purple of Wave ((iii))-green Details: The further short-term outlook indicates that the green wave ((i)) has peaked, and the green wave ((ii)) is currently unfolding to push lower. The typical target for the second wave often seeks around the 61.8% retracement level (307.42), or it could be lower at (c) = 1.618 x (a) at 300.4. This is also a common boundary of the green wave ((ii)), followed by the potential return of the green wave ((iii)) to push even higher. While price maintaining below 330.12 will be an advantage and extremely good resistance for this bearish view. Invalidation point: 283.70 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).

NVDA Elliott Wave Analysis Trading Lounge Daily Chart, NVIDIA Corp., (NVDA) Daily Chart NVDA Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulse STRUCTURE: Motive POSITION: Minor wave 5. DIRECTION: Upside in wave {v} of 5. DETAILS: Looking for a bottom in wave {iv} as we seem to be holding at 800$ as resistance, we’ll then be looking for TL1 at 1000$ as upside target. NVDA Elliott Wave Analysis Trading Lounge 4Hr Chart, NVIDIA Corp., (NVDA) 4Hr Chart NVDA Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulse STRUCTURE: Motive POSITION: Wave (c) of {iv}. DIRECTION: Upside in wave {v}. DETAILS: Looking for upside into wave {v} as we seem to be having a bottom after a three wave move in wave {iv}. Welcome to our NVDA Elliott Wave Analysis Trading Lounge, where we provide insights into NVIDIA Corp. (NVDA) using Elliott Wave Technical Analysis. Let's delve into the market dynamics on the Daily Chart. *COST Elliott Wave Technical Analysis – 4hr Chart* Our analysis indicates a trending function characterized by impulse mode and motive structure, positioned in Minor wave 5. The direction suggests upside movement in wave {v} of 5. We anticipate a potential bottom formation in wave {iv}, with resistance observed at $800. Our target for the upside is TL1 at $1000. *COST Elliott Wave Technical Analysis – Daily Chart* Here, we identify a trending function marked by impulse mode and motive structure, positioned in Wave (c) of {iv}. The direction indicates upside movement in wave {v}. Our analysis suggests the likelihood of upside continuation into wave {v}, following a three-wave move observed in wave {iv}.

Natural Gas Elliottwave Analysis Mode - Impulsive Structure - Impulse Wave Position - Wave (ii) of 5 Direction - Wave (iii) of 5 Details: Wave (ii) is completed and the price is now in wave (iii) and expected to extend to 1.35 or below. Wave 4 invalidation is around 2.00. The journey of Natural Gas embarked on a bearish impulse wave pattern on August 22, 2022. Since then, the trend has persistently carved lower lows without revisiting previous highs, emblematic of the steadfast bearish sentiment prevailing in the market. Despite a minor bounce, the commodity has struggled to breach the low set on February 20, 2024. It's unlikely that this modest recovery will dissuade sellers from reentering the market. Ultimately, the price is anticipated to breach that low, signaling a continuation of the bearish trend. In today's blog post, we aim to scrutinize the extent of the bearish trend and forecast when a substantial recovery might materialize. On the daily chart, the bearish trend since August 22, 2022, is identified as the 5th wave - circled as blue wave 5. This 5th wave is further subdivided into 5 waves, characteristic of an impulse wave. Presently, the price is within wave 5 of (3) of blue wave 5. However, wave 5 has yet to conclude - a prerequisite being a breach of the low recorded on February 20, 2024 (wave 3 low). This wave count remains valid as long as the price remains below the low of wave (1) (2.236). Transitioning to the H4 timeframe, Wave 4 of (3) terminated around the 2.00 major level on March 5, 2024. Subsequently, wave 5 of (3) commenced, expected to finalize either as an impulse or an ending diagonal. The retracement observed from March 25 occurred at a critical supply zone, eliciting a downward reaction in price. Consequently, wave (iii) is currently unfolding, poised for confirmation upon a break below the low of wave (i) at 1.589. There's still ample room for bears to exert downward pressure on this commodity. The medium-term target for the culmination of blue wave 5 is projected to be 1.00, assuming price action unfolds as anticipated. In summary, the bearish trend remains steadfast and could persist below 2.00 in the near term. Traders should remain vigilant and adjust their strategies in line with the evolving market dynamics. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!

USD/CAD Elliott Wave Analysis Trading Lounge Day Chart, U.S.Dollar /Canadian Dollar(USD/CAD) Day Chart USD/CAD Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE:blue wave 3 POSITION:black wave 3 DIRECTION NEXT LOWER DEGREES:blue wave 4 DETAILS blue wave 2 completed at 1.34196 ,now blue wave 3 is in play . Wave Cancel invalid level:1.34196 The USD/CAD Elliott Wave Analysis for the day chart provides traders with a comprehensive view of the potential price movements of the US Dollar against the Canadian Dollar, employing Elliott Wave principles for technical analysis. Identified as a "Trend" scenario, the analysis suggests that the prevailing market direction favors an uptrend in the USD/CAD pair. This indicates that traders may anticipate further strengthening of the US Dollar relative to the Canadian Dollar. Characterized as "Impulsive" in mode, the analysis indicates that the current market movement displays characteristics of impulsiveness, suggesting a strong and sustained buying momentum that is propelling the price higher. This implies that the ongoing uptrend in the USD/CAD pair is driven by significant buying activity. The "STRUCTURE" is identified as "Blue wave 3," providing clarity on the current wave count within the Elliott Wave cycle. This assists traders in understanding the ongoing bullish momentum and its alignment with the broader Elliott Wave structure. Positioned as "Black wave 3," the analysis highlights the current wave count within the larger Elliott Wave cycle, indicating the specific phase of the bullish trend. This suggests that the market is currently experiencing a significant upward movement within the broader wave structure. The "DIRECTION NEXT LOWER DEGREES" is denoted as "Blue wave 4," implying the anticipated direction for the subsequent lower-degree wave. This indicates that following the completion of the current bullish wave, a corrective phase may ensue before a potential continuation of the uptrend. In the "DETAILS" section, it is mentioned that "Blue wave 2 completed at 1.34196, now blue wave 3 is in play." This signifies that the corrective phase of the Elliott Wave cycle has concluded, and the market is now poised for a new impulsive movement in the direction of the trend. The "Wave Cancel invalid level" at 1.34196 serves as a reference point for traders to monitor potential invalidation of the current wave count. CAD Elliott Wave Analysis Trading Lounge 4 Hour Chart, U.S.Dollar /Canadian Dollar(USD/CAD) 4 Hour Chart USD/CAD Elliott Wave Technical Analysis FUNCTION: Trend MODE: impulsive STRUCTURE:black wave 3 POSITION:Red wave 3 DIRECTION NEXT LOWER DEGREES:black wave 4 DETAILS black wave 2 of 3 completed ,now black wave 3 is in play . Wave Cancel invalid level:1.34561 The USD/CAD Elliott Wave Analysis for the day chart provides traders with insights into potential price movements of the US Dollar against the Canadian Dollar, 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 upward movement. This implies that traders may anticipate further appreciation of the US Dollar relative to the Canadian Dollar. Described as "Impulsive" in mode, the analysis indicates that the current market movement exhibits characteristics of impulsiveness, suggesting strong and sustained buying pressure driving the price higher. This implies that the current uptrend may be driven by significant buying interest in the USD/CAD pair. The "STRUCTURE" is identified as "Black wave 3," providing clarity on the current wave count within the Elliott Wave cycle. This aids traders in understanding the ongoing bullish momentum and its relation to the broader Elliott Wave structure. Positioned as "Red wave 3," the analysis highlights the current wave count within the broader Elliott Wave cycle, indicating the specific phase of the bullish trend. This suggests that the market is currently in the midst of a significant upward movement within the larger wave structure. The "DIRECTION NEXT LOWER DEGREES" is stated as "Black wave 4," suggesting the anticipated direction for the subsequent lower-degree wave. This implies that after the completion of the current bullish wave, a corrective phase may follow before a potential continuation of the uptrend. In the "DETAILS" section, it is noted that "Black wave 2 of 3 completed, now Black wave 3 is in play." This indicates that the corrective phase following the completion of Black wave 2 has ended, and the market is now in the process of resuming the bullish trend. The "Wave Cancel invalid level" is specified as 1.34561, 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/CAD Elliott Wave Analysis for the day chart provides traders with valuable insights into potential bullish 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 AAVE/ U.S. dollar(AAVEUSD) AAVEUSD 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: 81.238 Details: Wave ((2)) maybe is complete and the price increase in wave ((3)) AAVE/ U.S. dollar(AAVEUSD)Trading Strategy: Overall AAVE is moving in an uptrend with the Impulse pattern entering its third wave. We are currently recovering in the short term from the second wave correction. And the price will rise again during the third wave. Consider the opportunity for bullish trading. AAVE/ U.S. dollar(AAVEUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum. Elliott Wave Analysis TradingLounge 4H Chart AAVE/ U.S. dollar(AAVEUSD) AAVEUSD 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: 81.238 Details: Wave ((2)) maybe is complete and the price increase in wave ((3)) AAVE/ U.S. dollar(AAVEUSD)Trading Strategy: Overall AAVE is moving in an uptrend with the Impulse pattern entering its third wave. We are currently recovering in the short term from the second wave correction. And the price will rise again during the third wave. Consider the opportunity for bullish trading. AAVE/ U.S. dollar(AAVEUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!

Unlocking ASX Trading Success: NEWMONT CORPORATION – NEM Stock Analysis & Elliott Wave Technical Forecast ASX: NEWMONT CORPORATION – NEM Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NEWMONT CORPORATION – NEM. In our Top 50 ASX Stocks analysis service, we accurately forecasted the opportunity for NEM to rise from around AUD $53.50, and significant profits have since been realized. At this point, we still maintain our previous outlook for NEM to continue pushing higher, aiming for the immediate target at 63.51. ASX: NEWMONT CORPORATION – NEM Elliott Wave Technical Analysis ASX: NEWMONT CORPORATION – NEM 1D Chart (Semilog Scale) Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave ((iii))-green Last Forecast: The most recent forecast was correct. Details: The context suggests that a Five-waves pattern is seemingly unfolding from the low at 45.30, allowing NEM to rise further. Wave ((i))-green has peaked, and wave ((ii))-green has opened, while wave ((iii))-green appears poised to rise higher towards the target at 63.51 and prices consistently remaining above the low at 50.80, Invalidation point: 45.30 ASX: NEWMONT CORPORATION – NEM Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: NEWMONT CORPORATION – NEM Elliott Wave Technical Analysis ASX: NEWMONT CORPORATION – NEM 4-Hour Chart Analysis Function: Major trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave (iii)-purple of Wave ((iii))-green Last Forecast: The most recent forecast was correct. Details: The short-term outlook further indicates that wave ((iii))-green has opened up and is pushing higher towards the target at 63.51. It subdivides into waves (i)-purple to (iii)-purple, while the price must remain above 56.46, as this is a potential support level for this upward trend. A decrease below this level suggests wave (iv) or ((iv)) is unfolding, followed by the return of wave five to continue pushing higher. Invalidation point: 53.22 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: NEWMONT CORPORATION – NEM 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).

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