Online Trading Masterclass Series 2 – PLS (ASX) Technical Analysis & Market Structure

Online Trading – Monthly PLS Structured Step-by-Step Analysis

This online trading masterclass demonstrates how professional chart structure is built step by step using the ASX stock PLS as a real market example. Before we begin, it is important to understand what you are actually looking at on this page. This is not a trading signal page. It is not a prediction page. It is not random lines drawn after the fact. What you are about to see is the finished result of a disciplined chart preparation process built on structure, proportion, and market behaviour.

The purpose of this masterclass is simple: to show you what serious market preparation looks like once the full framework has been applied correctly. Most beginners never see charts prepared this way. They are usually shown indicators first, hype first, or entry signals first. That is why so many people feel confused. They are taught the wrong layer first. Structured learning changes that.

Inside the She Trades Shares Trading For Beginners E-Book, the full step-by-step process is explained in plain English. You learn how to build this type of chart yourself from opening your charting platform, to identifying structure, measuring proportion, validating behaviour, and protecting risk before money is ever placed at risk. In other words, this masterclass shows you the finished analysis. The E-Book teaches you how to build it. That difference matters.

Behind the charts presented here sits a complete analytical framework. Structural review, market context, proportional measurement, support and resistance mapping, behavioural testing, and rule-based chart construction are completed before a single decision is considered. For the purpose of this page, we are isolating the structural layer so you can see what real market preparation looks like without unnecessary noise. You are not expected to understand every line yet. The goal is to let you see the depth, precision, and discipline that separates structured market analysis from guessing.

Once you understand how to construct market structure properly, the same framework can be applied to shares, Exchange Traded Funds (ETFs), indices, futures, and crypto. The instrument may change. Structure does not. In this masterclass we are using the ASX stock PLS as the working example because it provides a powerful market cycle to study. It contains expansion, correction, recovery, resistance testing, and live structural behaviour. The charts below demonstrate what that process looks like when it is applied to a real ASX market.

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Online Trading – Why PLS Was Selected

PLS represents a complete structural case study. It expanded from its all-time low of $0.007 in October 2013 to its all-time high of $6.14 in April 2026. Along the way it produced deep corrections, breakout phases, powerful momentum runs, and major retests of prior structure. Strong trends expose behaviour. Corrections expose proportion.

Retests expose price memory. Volatility exposes whether levels truly matter. PLS gives us all of that in one chart. This is why it is an ideal educational example. It allows you to study how a market builds over time instead of reacting to random headlines.

Each chart in this masterclass builds directly on the one before it. Nothing random. Nothing decorative. Every level must earn its place. If you have ever looked at a chart and thought, I do not know where to begin, this page is designed to change that.

You are about to see how a blank chart becomes a mapped decision framework. That is the real difference between guessing and preparation. It is also why structure-first learning matters so much for beginners. Once you see the process clearly, charts stop feeling chaotic. They start becoming readable.

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Online Trading – Chart 1 PLS Monthly Chart

Below you will see the first layer of structure. This chart defines the major anchors of the entire market cycle. It includes the all-time low at $0.007. It includes the all-time high at $6.14. It includes the key percentage levels inside that full range.

The chart also includes the major historical support and resistance zones already proven by price. These are not guesses. They are measured structural checkpoints. The 25% retracement level sits near $4.61. The 50% retracement level sits near $3.07. The 75% retracement level sits near $1.54.

You will also notice major behavioural zones near $1.07, $3.89, and $5.66. These levels matter because price has already reacted there. This is where professional chart work begins. We do not begin by chasing entries. We begin by defining the full range of the market and identifying the levels that control behaviour inside that range.

Without this layer, lower timeframe analysis becomes reactive and unstable. Chart 1 establishes context. Chart 2 will build on this foundation by highlighting where historical support, resistance, and percentage levels begin clustering together. That is where confluence starts to emerge. Structure builds in layers.

Chart 3 will explore behavioural structure and expansion logic. Chart 4 will test the move internally using the weekly timeframe. Take a moment to study this first chart carefully. What looks simple on the surface is actually the structural spine of the entire PLS market cycle. That is why this first chart matters.

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Online Trading – Chart 1

Online Trading – Chart 2 PLS Monthly Chart With Elliott Wave Structure & Confluence

Online Trading – Chart 2 builds directly on the first chart. The original monthly framework remains in place, including the all-time low, the all-time high, percentage retracement zones, and the major support and resistance levels already identified. Nothing has been removed. What has now been added is a possible Elliott Wave interpretation so we can test whether price behaviour fits a recognised expansion and correction structure. This remains an analytical model only. It is not certainty, and it is not a prediction.

From the monthly chart, the rise from the all-time low near $0.007 into $1.165 can be viewed as a potential Wave 1. Price then corrected into $0.125, which can be read as a potential Wave 2. The next major expansion into $3.89 may represent a potential Wave 3. The pullback into $1.975 may represent a potential Wave 4. The advance into $5.66 may then complete a potential Wave 5. This is considered a valid working count because the sequence alternates between impulse and correction, the trend progresses in five stages, and no obvious structural rule has been broken on the monthly view.

The framework becomes stronger when measured proportion is added. Wave 2 corrected deeply but remained above the absolute cycle low. Wave 3 expanded strongly beyond Wave 1, which is common behaviour in developing trends. Wave 4 then retraced without materially overlapping the earlier impulse zone in a way that would invalidate the count on this broad monthly interpretation. Wave 5 then extended into a fresh high before momentum faded. These are the types of relationships analysts test when deciding whether a five-wave structure is reasonable.

Confluence zones add another layer of evidence. The potential Wave 1 high near $1.165 developed close to the deeper retracement region around the 75% zone. The potential Wave 3 high near $3.89 formed close to the upper percentage band and an established historical resistance region. The potential Wave A decline into $3.36 occurred near the 50% zone around $3.07. The potential Wave C low near $1.07 completed near a major support area and close to the deeper percentage region already mapped in Chart 1. When turning points align with both measured levels and historical price memory, confluence is created.

Following the potential five-wave advance, price can also be interpreted as a possible A-B-C correction. The decline into $3.36 may represent Wave A. The rebound into $5.43 may represent Wave B. The decline into $1.07 may represent Wave C. This corrective reading is considered reasonable because the market moved in a three-part sequence after the prior high, with a counter-trend rebound between two declines. Again, these are probabilities and structural observations, not labels confirmed by the market itself.

This leads to the bigger question. Has the broader cycle already completed, or was that entire move only part of a higher-degree structure such as a larger Wave 1 and Wave 2? If that higher-degree view is correct, the recent recovery could be the beginning of a larger Wave 3. That possibility cannot be confirmed from the monthly chart alone. It must be tested through lower timeframe behaviour, momentum, and internal structure.

That is why the next chart moves to the weekly timeframe. The monthly chart gives the map. The weekly chart lets us inspect the engine inside the move. We will test whether swing structure, reaction zones, proportional behaviour, and momentum support the current bullish interpretation, challenge it, or suggest an alternative count. Good analysis does not claim certainty early. It builds evidence layer by layer.

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Online Trading – Chart 2

Online Trading – Chart 3 PLS Weekly Chart – Fresh Highs, Structure Tension and What Comes Next

Chart 3 updates the weekly view with new information, and new information matters. Price has now pushed beyond the prior $5.66 high and printed a fresh all-time high near $6.14. That confirms strength, but strength alone does not automatically tell us which wave count is correct.

This is where disciplined analysis stays flexible.

From the major $1.07 low, price advanced into approximately $5.32, corrected into the $3.92 region, and then broke higher again into new highs. The current structure now presents 2 realistic possibilities.

Scenario 1: The advance from $1.07 is part of a larger bullish sequence, with the market now expanding into a higher-degree Wave 3. Under that view, the recent breakout is not the end of the story. It may be the beginning of a larger leg.

Scenario 2: The current rise is the final stage of a broader Wave 5 completing from the earlier cycle. Under that view, the move into new highs may be the last extension before a larger corrective phase eventually develops.

The 100% measured extension from the prior corrective structure projects near the $6.60 region. That places the area above current price into an important structural zone. Markets often reveal their intent near measured targets, especially when they arrive after a strong trend.

You will also notice the pullback into $3.92 was relatively shallow compared with the earlier advance. That tells us momentum remained strong during the correction. Strong markets often retrace less deeply than weak markets, which is why the bullish interpretation cannot be dismissed.

The simple moving average adds another layer of context. Price recovering above a rising moving average suggests trend pressure has improved. It does not confirm a guaranteed outcome, but it supports the idea that buyers have regained control for now.

So the real question is no longer whether PLS is strong. The real question is whether this breakout is an early expansion phase or a late-stage extension.

That answer does not come from guessing. It comes from watching how price behaves next. Clean continuation, constructive pullbacks, and support holding would strengthen the bullish expansion view. Failure after extension and sharp rejection would strengthen the completion view.

This is how professional chart work is done. We map the scenarios, define the important zones, and let future behaviour confirm which path is unfolding.

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Online Trading – Chart 3

This is Series 2 of the Online Trading Masterclass using PLS (ASX). If you have not yet seen Series 1 featuring ZIP (ASX), start there first to see how the framework was originally built, then return here to compare how the same structure applies to a different market.

View Series 1 – ZIP Masterclass