Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

Hello fellow traders. As our members know , NASDAQ has recently given us plenty of positive buying setups. In this article we’re going to present Elliott Wave charts of NQ_F published in the members area of the website. NASDAQ made a clear 3 waves pull back that has unfolded as Elliott Wave Double Three pattern. It made clear 3 waves down from the February 23rd peak and completed correction right at the Equal Legs zone ( Blue Box Area) . In further text we’re going to explain the Elliott Wave pattern and trading setup.

NASDAQ Elliott Wave 1 Hour Asia Chart 04.02.2024​

The current view indicates that the intraday pullback is still in progress. We assume that the correction is unfolding as an Elliott Wave Double Three pattern with wxy red labeling. The price structure remains incomplete at the moment, suggesting further downside towards the 18322-18138.2 Blue Box Buying Zone. We don't recommend selling NASDAQ; instead, we prefer positioning ourselves on the long side from the Blue Box area. Once NQ_F reaches our designated buying zone, we expect an influx of buyers, potentially resulting in a rally towards new highs or a 3-wave bounce.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

Quick reminder on how to trade our charts :

Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.

​

NASDAQ Elliott Wave 1 Hour Chart 04.02.2024​

The futures have experienced a drop and have reached our buying zone, the Blue Box: 18322-18138.2. We are entering long positions within the Blue Box against the marked invalidation level. As the main trend is bullish, we expect to see at least a 3-wave bounce from the Blue Box. As soon as the price hits the 50 fibs against the x red connector, we will make positions risk-free and set stop loss at breakeven. A break below the 1.618 Fibonacci extension level, 18138.2, would invalidate the trade.

NASDAQ Elliott Wave 1 Hour Chart 04.02.2024​

The NASDAQ futures has found buyers as expected and is showing a very good reaction from the Blue Box Area. We count the pullback (ii) blue completed at the 17828 low. Consequently, any long positions should now be risk-free. We are anticipating a break of the (iii) blue peak to confirm that the next leg up is in progress.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.





Source: https://elliottwave-forecast.com/stock-market/nasdaq-futures-nq_f-giving-us-bounce-buying-zone/

 

[Elliottwave-Forecast]

Hello fellow traders,

In this technical article, we are excited to present another recent Elliott Wave trading setup. Our focus is on the SPX E-Mini (ES_F) futures, which have recently given us a clear three-wave pullback, unfolded as an Elliott Wave Zig Zag pattern. Notably, ES_F completed this correction precisely at the Equal Legs zone, commonly referred to as the Blue Box Area. In the following sections, we will delve into the specifics of the Elliott Wave pattern observed and discuss the corresponding trading setup in detail.

ES_F Elliott Wave 1 Hour London Chart 04.02.2024​

The decline from the peak looks like a 5-wave structure, suggesting that the pullback is still underway. We assume that the correction is unfolding as an Elliott Wave Zig Zag, awaiting confirmation of another leg down (c) of ((ii)) ideally. We do not recommend selling ES_F ; instead, we prefer positioning ourselves on the long side if an opportunity arises.

ES_F Elliott Wave 1 Hour Midday Chart 04.02.2024​

We've seen another leg down as expected. The price has hit our target area, the blue box zone at 5248.69-5216.4. We're entering long positions within the Blue Box. As the main trend remains bullish, we anticipate at least a 3-wave bounce from this area. Once the price touches the 50 fibs against the (b) blue connector, we'll make positions risk-free and set the stop loss at breakeven and book partial profits. Breaking below the 1.618 Fibonacci extension level at 5216.4 would invalidate the trade.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

Quick reminder on how to trade our charts :

Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.

ES_F Elliott Wave 1 Hour Asia Chart 04.04.2024​

ES_F has found buyers and is showing a nice reaction from the Buying Zone. We count the pullback ((iv)) black as completed at the 5235 low. Consequently, long positions should now be risk-free. We are anticipating a break of the ((iii)) black peak to confirm that the next leg up is in progress. Alternatively, if the price breaks below 5235 low, the futures will open up the possibility for a 7-swing pattern. In that case, long positions will be stopped out, and we will look to buy the dips again at the next set of equal legs.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.



Source: https://elliottwave-forecast.com/stock-market/spx-es_f-elliott-wave-blue-box/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of USDNOK published in members area of the website. As our members know USDNOK has recently made recovery that has unfolded as Elliott Wave Double Three Pattern. It made clear 7 swings from the December 27th low and completed correction right at the Equal Legs level. In further text we’re going to explain the Elliott Wave pattern and forecast

Before we take a look at the real market example, let’s explain Elliott Wave Double Three pattern.

Elliott Wave Double Three Pattern

Double three is the common pattern in the market , also known as 7 swing structure. It’s a reliable pattern which is giving us good trading entries with clearly defined invalidation levels.
The picture below presents what Elliott Wave Double Three pattern looks like. It has (W),(X),(Y) labeling and 3,3,3 inner structure, which means all of these 3 legs are corrective sequences. Each (W) and (Y) are made of 3 swings , they’re having A,B,C structure in lower degree, or alternatively they can have W,X,Y labeling.

USDNOK 4 Hour Elliott Wave Analysis 03.28.2024​

The current view suggests that USDNOK is trading within the cycle from the December 27th low, correcting the cycle from the 11.273 peak. The structure shows incomplete sequences of higher highs, suggesting that the red X connector may still be in progress toward the 1.9734-11.1315 area potentially. Upon closer examination, we can observe that the first leg ((w)) black formed with 3 waves. Subsequently, the ((x)) connector also completed 3 waves, around the 61.8% Fibonacci Retracement zone. This suggests that the red X recovery is unfolding as an Elliott Wave Double Three Pattern.

You can learn more about Elliott Wave Double Three Patterns at our Free Elliott Wave Educational Web Page.

USDNOK 4 Hour Elliott Wave Analysis 04.04.2024​

USDNOK extended upward and reached the extreme zone. The pair found sellers precisely at the equal legs zone at 10.9734 and made nice downward reaction from that point. The decline from the peak appears to consist of 5 waves, which raises the likelihood that the cycle is complete, and we may witness only a short-term bounce in (ii) blue before further extension lower resumes.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.





Source: https://elliottwave-forecast.com/forex/usdnok-found-sellers-equal-legs-area/

 

[Elliottwave-Forecast]

Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of SPDR Financial ETF ($XLF) . The rally from 1.18.2024 low at $36.95 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 3 swings and find buyers again. We will explain the structure & forecast below:

5 Wave Impulse Structure + ABC correction​

​

$XLF1H Elliott Wave Chart 4.05.2024:​

Here is the 1H Elliott Wave count from 4.05.2024. We expected the pullback to find buyers at the blue box area at 41.14 – 40.57 in 3 swings.

$XLF 1H Elliott Wave Chart 4.07.2024:​

Here is the latest 1H update from 3.07.2024 showing the bounce taking place as expected. The ETF has reacted higher from the blue box area allowing longs to get risk free. The ETF is expected to remain supported with a target area towards $42 –43 before another pullback can happen.
Source: https://elliottwave-forecast.com/st...-etf-xlf-found-buyers-blue-box-area-expected/

 

[Elliottwave-Forecast]

American Express Company (Amex), symbol AXP, is an American multinational financial services corporation that specializes in payment cards. Headquartered in New York City, it is one of the most valuable companies in the world and one of the 30 components of the Dow Jones Industrial Average.

AXP Weekly Chart December 2023​

We believed that AXP had ended a Great Super Cycle at the peak of 199.55 which we call wave ((I)). The stock started a bearish structure (a), (b), and (c). Wave (a) built a leading diagonal ended at 130.65 in October 2022 low. The market bounced beginning a wave (b) as a double correction. We expected to reach around 192.29 where market should turn lower to end a wave ((II)) before resuming to the upside. However, market broke higher invalidated the view.

AXP Weekly Chart April 2024​

The stock broke higher in Jan 2024 suggesting an extension in wave (V) of ((I)). That is why we adjusted the count. Wave I ended at 189.03 high. Then wave II built an expanding flat correction ending at 130.65 low. The wave ((1)) of III completed at 182.15 and pullback as a flat correction ended wave ((2)) at 140.91. From here, AXP is developing a strong rally that is wave ((3)) of III and currently market is trading in wave (3) of ((3)). We are calling one more leg higher to end wave (3) and any pullback after wave (3) is ended, we should look for buying opportunities to trade in favor of the trend.

Source: https://elliottwave-forecast.com/stock-market/american-express-axp-rally/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of XLI ETF, published in members area of the website. As our members know XLI is showing impulsive bullish structure in the cycle from the 109.9 and we have been favoring the long side of the ETF. Recently, we experienced a pullback consisting of three clear waves, which found buyers right at our buying zone (blue box). In the following text, we'll delve into the Elliott Wave forecast and trading setup.

XLI H1 Post-Market Update 04.05.2024​

The current view suggests that XLI is undergoing a wave ((iv)) correction. The pullback has reached an extreme zone within the 123.74-122.11 area, also known as the Blue Box. We acknowledge that the pullback could conclude at any moment. Therefore, we are initiating long positions within the Blue Box. Given the prevailing bullish trend, we anticipate at least a three-wave bounce from this area. Once the price touches the 50% Fibonacci retracement level against the (b) blue connector, we will secure positions, setting the stop loss at breakeven and booking partial profits. However, it's important to note that breaking below the 1.618 Fibonacci extension level at 122.11 would invalidate the trade. We advise against selling the ETF and anticipate a further rally to resume from the buyer's zone at 123.74-122.11.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

Quick reminder on how to trade our charts :

Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.

XLI H1 Weekend Update 04.07.2024​

XLI has given us a nice reaction from the buying zone as expected. The bounce reached and exceeded 50% Fibonacci retracement against the (b) blue high, so we consider wave ((iv)) black completed at the 123.61 low. Consequently, long positions should now be risk-free, and partial profits should be saved. We anticipate a break of the ((iii)) black peak to confirm that the next leg up is in progress. Alternatively, if the price breaks below the 123.61 low, the ETF will open up the possibility for a 7-swing pattern. In that case, long positions will be stopped out, and we will look to buy the dips again at the next set of equal legs.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.



Source: https://elliottwave-forecast.com/trading/xli-elliott-wave-buying-lue-box/

 

[Elliottwave-Forecast]

Eli Lilly & Company (LLY) discovers, develops & markets human pharmaceuticals worldwide. It is having around 739 B market cap as on 8-April-2024. It is based in Indianapolis, Indiana, US, comes under Healthcare sector & trades as “LLY” ticket at NYSE.

As showing in the previous article from 2.19.2024, LLY expect to resume higher in (3) towards $869.49 or higher levels. It expects to remain supported in 3, 7 or 11 swings pullback to resume rally in ((3)).

LLY - Elliott Wave Latest Weekly View: ​

In Weekly sequence, it finished II of (III) at $101.36 low in October-2019. It favors higher in third wave extension as (3) of ((3)) of III towards $869.49 or higher levels. It placed ((1)) at $375.25 high in December-2022 & ((2)) at $309.20 low in March-2023. Within ((1)), it finished (1) at $170.75 as diagonal structure & (2) at $129.21 low as 0.618 Fibonacci retracement. It placed (3) at $335.33 high, (4) at $296.32 low & (5) at $375.25 high.

LLY - Elliott Wave View From 2.19.2024: ​

Above ((2)) low, it ended (1) of ((3)) at $629.97 high & (2) at $547.61 low as 0.236 Fibonacci retracement. Above (2) low, it favors upside in 3 of (3) & expect one more push higher to finish 3 above $800.78 before it may pullback in 4. We like to buy the pullback in 3, 7 or 11 swings correction at extreme areas, while dips remain above rising price trendline.

Source: https://elliottwave-forecast.com/stock-market/lly-provide-opportunity-weeks/

 

[Elliottwave-Forecast]

Hello fellow traders,

As our members know we have had many profitable trading setups in Indies recently. In this technical article, we are going to present another Elliott Wave trading setup we got in SPX E-Mini (ES_F) . The futures has extended pull back, giving us another buying opportunity., ES_F completed this correction precisely at the Equal Legs zone, referred to as the Blue Box Area. In the following sections, we will delve into the specifics of the Elliott Wave pattern observed and discuss the corresponding trading setup in detail.

ES_F Elliott Wave 1 Hour Asia Chart 04.05.2024​

Current view suggests ES_F are undergoing ((iv)) black correction. The price has reached a new extreme zone at 5205.5-5144.21, where we would like to be buyers again.

We’re entering long positions within the Blue Box. As the main trend remains bullish, we anticipate at least a 3-wave bounce from this area. Once the price touches the 50 fibs against the (b) blue connector, we’ll make positions risk-free and set the stop loss at breakeven and book partial profits. Breaking below the 1.618 Fibonacci extension level at 5144.21 would invalidate the trade.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

Quick reminder on how to trade our charts :

Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.

ES_F Elliott Wave 1 Hour Asia Chart 04.09.2024​

The future has found buyers as expected and is showing a decent bounce from the Buying Zone. We count the pullback ((iv)) black as completed at the 5191.37 low. Consequently, long positions should now be risk-free. We've set our stop loss at breakeven and have already secured partial profits. Now, we would like to see a break of the ((iii)) black peak to confirm that the next leg up is in progress. Alternatively, if the price breaks below 5191.37 low, the futures will open up the possibility for a deeper pullback. In that case, long positions will be stopped out, and we will look to buy the dips again at the next set of equal legs.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.



Source: https://elliottwave-forecast.com/trading/spx-e-mini-es_f-elliott-wave-setup/

 

[Elliottwave-Forecast]

In this technical article, we are going to present another Elliott Wave trading setup we got in NASDAQ Futures (NQ_F) . The futures has extended pull back, giving us another buying opportunity. NQ_F completed correction at the Blue Box Area. In the next parts, we'll explain the Elliott Wave pattern we saw and discuss the trading plan in detail.

NQ_F Elliott Wave 1 Hour London Chart 04.05.2024​

Current analysis indicates that NQ_F is nearing completion of wave ((iv)) pullback. The pullback has extended, and the price has reached a new extreme zone at 18057.25-17742.24. Another short-term low would be ideal to complete 5 waves down within the (c) blue leg. Nevertheless, we're already long from the Equal Legs level at 18057.25. With the main trend remaining bullish, we anticipate at least a 3-wave bounce from this area. Once the price retraces to the 50% Fibonacci level against the (b) blue connector, we'll secure positions, set the stop loss at breakeven, and capture partial profits. A drop below the 1.618 Fibonacci extension level at 17742.24 would invalidate the trade.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

Quick reminder on how to trade our charts :

Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.

NQ_F Elliott Wave 1 Hour London Chart 04.09.2024​

We eventually experienced another slight push down in v of (c). As expected, the futures have found buyers and are showing a decent bounce from the Buying Zone. We consider the pullback ((iv)) black as completed at the 18052.49 low. Consequently, we've made our long positions risk-free: We've set our stop loss at breakeven and have already secured partial profits. Now, we'd like to see a break of the ((iii)) black peak to confirm that the next leg up is in progress. Alternatively, if the price breaks below the 18052.49 low, the futures will likely experience a deeper pullback. In that case, long positions will be stopped out at breakeven, and we'll look to buy the dips again at the next set of equal legs.
Your risk management should be comprised of four parts:
-Small Losses
-Small wins
- Big wins
- Breakeven
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.



Source: https://elliottwave-forecast.com/trading/nasdaq-nq_f-another-buying-setup/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of SPX. We presented to members at the elliottwave-forecast. In which, the rally from the 05 January 2024 low unfolded as an impulse structure and showed a bullish sequence. Suggested that the index should see more upside extension to complete the impulse sequence. Therefore, we advised members not to sell the index & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

SPX 1-Hour Elliott Wave Chart From 4.05.2024​

Here’s the 1-hour Elliott wave chart from the 4/05/2024 Asia update. In which, the short-term cycle from the 1/17/2024 low ended in wave ((iii)) as impulse at $5264.85 high. Down from there, the index made a pullback in wave ((iv)) to correct that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where wave (a) ended at $5186.71 low. Wave (b) bounce ended at $5256.59 high and wave (c) managed to reach the blue box area at $5178.54- $5130.35. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

SPX Latest 1-Hour Elliott Wave Chart 4.09.2024​

This is the latest 1-hour Elliott wave Chart from the 4/09/2024 Asia update. In which the index is showing a reaction higher taking place, right after ending the zigzag correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above $5264.85 high is still needed to confirm the next extension higher towards $5292- $5338 area higher and avoid double correction lower.

Source: https://elliottwave-forecast.com/stock-market/spx-perfect-buying-opportunity-blue-box/

 

[Elliottwave-Forecast]

Ford Motor Company is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, United States. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand, and luxury cars under its Lincoln luxury brand.

FORD (F) Daily Chart December 2023 ​

In January 2022 Ford made a high at 25.87 and we called wave I and the market started a wave II correction. Down from this high, the stock developed a zig zag correction ending at 10.90 low and we called wave ((W)). Since then, shares entered in a sideways phase. In this range, after ((W)) a flat correction took a part building wave ((X)) connector ending at 16.68 high. Market continued lower and we are expecting a double correction (W), (X), (Y) to complete wave ((Y)). Down from August 2022 high, we can see 3 swings lower ending wave W at 10.90. Then, market bounce in 3 swings higher as a flat correction finishing wave X at 15.42. Then, another 3 swings zig zag correction fell completing wave Y at 9.63 low and also wave (W).

FORD (F) Daily Chart April 2024​

The rally from wave (W) low is developing a 3 swings structure to end wave (X). First leg higher ended wave A of (X) at 12.5 and wave B pullback finished at 10.82. Current price action should continue higher to reach 14.41 - 14.83 area to end wave (X). Once wave (X) is completed, Ford should see 3 swings more lower to end wave (Y) of ((Y)) of II before rally in a new upside cycle. In conclusion, market needs to breaks below 9.63 to confirm the view and stays below 16.67 high. If market breaks above 16.67, the wave II correction will be completed and we are going to look for buying opportunities only.

Source: https://elliottwave-forecast.com/stock-market/ford-lower-prices-correction/

 

[Elliottwave-Forecast]

Texas Instruments Incorporated (TXN) is a well-established American technology company headquartered in Dallas, Texas. It's known primarily for its semiconductor and integrated circuit products, which are used in a wide range of applications including industrial, automotive, consumer electronics, and telecommunications. In this post, we will look at the TXN Elliott Wave Analysis.

TXN Elliott Wave - Monthly Chart April 2024​

TXN has been one of the most profitable stocks in the past decades, with a growth of over 745% in the last 20 years. We believe this bullish trend will continue as the impulse cycle that started before the 70s has yet to end. As the monthly chart shows, the stock completed the 4th wave - wave (IV) of the super cycle degree in October 2022. Since that time, the 5th wave - wave (V) has been evolving into an impulse as well. Currently, we seem to be in wave ((5)) of III of (V). Given this exposition, there is a high likelihood that prices will continue to rise in the coming years. So, the buyers are in control and it’s only logical to play along with the direction of the trend until it breaks. At the moment, the trend is not yet exhausted.

TXN Elliott Wave - Weekly Chart April 2024​

On the weekly time frame, we will focus on how wave ((5)) has been developing since it started in December 2018 at 87.7. Wave (4) of ((5)) ended at 139.5 in October 2023 after completing a double zigzag pattern. The impulse rally that followed the end of (4) suggests that we can anticipate wave ((5)) to break above the 202.22 high into the 215.12-238.30 Fibonacci projection zone of wave (1) from (4). Looking past wave (4), the price seems to have completed waves 1 and 2 of (5) of ((5)). So we are currently in wave 3 of (5) of ((5)) after the price broke above wave 1 high albeit marginally. Going to the lower time frame, we will take a closer look at the sub-waves of wave 3 as they develop.

TXN Elliott Wave - Daily Chart April 2024​

On the daily time frame, we are currently in wave ((ii)) of 3, which is currently experiencing a pullback following wave ((i)) peak at 177.74. Wave ((iii)) is now expected to break above 177.74 provided a dip below wave 2 low at 155.52 doesn’t happen. If that occurs, we may be experiencing a sort of flat pattern for 2 lower than 155.52. However, the current wave count is of much higher probability, thus our preference. The intention will be to buy the wave ((ii)) pullback at the extreme in anticipation of wave ((iii)) higher.

TXN Elliott Wave - H4 Chart April 2024​

On the 4H time frame, the pullback for ((ii)) is completing a double zigzag (7-swing) pattern that can extend to the extreme of 164.2-to-157.36 where buyers should be waiting to buy again. In a bullish sequence, the best bet is to buy dips in 3, 7, or 11 swings.

TXN Elliott Wave - H1 Chart April 2024​

The 1hr time frame above shows the sub-waves of the 7-swing better with invalidation at 155.52. Traders can look at buying opportunities in the zone to join the next impulse - wave ((iii)) - above 177.74 toward 197.2. If a bounce happens off the zone, the least we could get is another 3-wave bounce that could lead to a lower wave 2 in case of an invalidation below 155.2. We need to understand the alternative view as well even if it’s less likely.

Source: https://elliottwave-forecast.com/stock-market/txn-elliott-wave-buy-pullback/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of EURGBP published in members area of the website. Our team recommended members to avoid buying , while keep favoring the short side in the pair. Recently we got recovery that reached our selling zone. The pair found sellers and made reaction from the blue box as expected. In the further text we are going to explain the Elliott Wave Forecast and trading strategy.

EURGBP Elliott Wave 4 Hour Chart 03.23.2024​

The pair is correcting the cycle from the 0.87148 peak , giving us 4 red recovery. The price has already reached the extreme zone at 0.85817-0.86330 (Blue Box – sellers zone). So, we are aware that another marginal push up may or may not be seen within the blue box. Alternatively, 4 red can be already completed at the 0.86019 high as Elliott Wave Double Three Pattern. We don’t recommend buying the pair and prefer the short side from the blue box zone. As the main trend is bearish, we expect to see at least 3 waves pullback from our selling zone. Once the decline reaches 50 Fibs against the ((b)) black low, we will make the short position risk-free (put SL at BE) and take partial profits. Invalidation for the short trades is a break above 1.618 fib ext: 0.8633.

Quick reminder:

Our charts are easy to trade and understand:
Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.

You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

​

EURGBP Elliott Wave 4 Hour Chart 04.13.2024​

The pair found sellers at the Blue Box area: 0.85817-0.86330. The recovery completed at the 0.86019 high, and we are receiving a good reaction from the selling zone. The decline reached and exceeded 50 fibs against the connector’s low. So, members who took the short trade are currently enjoying profits in risk-free positions. While below the 0.86019 high, the next leg down can be in progress toward new lows.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room




Source: https://elliottwave-forecast.com/trading/eurgbp-elliott-wave-selling-rallies-blue-box-area/

 

[Elliottwave-Forecast]

SIL (Silver Miners ETF) is a financial product designed to mirror the performance of silver mining companies. It offers investors a straightforward way to gain exposure to the silver market without directly purchasing physical silver or individual mining stocks. SIL diversifies risk by spreading investments across multiple companies within the sector, potentially providing a hedge against volatility in silver prices. In this article, we will look at the Elliott Wave outlook for the ETF.

SIL (Silver Miners ETF) Monthly Elliott Wave Chart​

Monthly Elliott Wave chart of SIL above shows that wave ((II)) ended at 14.94. This completed the all-time correction in the ETF. From there, it has started to turn higher in a nesting impulse. Up from wave ((II)), wave I ended at 54.34 and dips in wave II ended at 15.61. Wave III higher is in progress as another impulse in lesser degree. Up from wave II, wave ((1)) ended at 52.87 and pullback in wave ((2)) ended at 21.26. Near term, as far as pivot at 15.61 low stays intact, expect the ETF to extend higher.

Silver Miners ETF Daily Elliott Wave Chart​

Daily Elliott Wave Chart of Silver Miners ETF (SIL) above shows that it has started the next leg higher after retesting 21.16 low. Up from wave ((2)) low at 21.16, wave 1 ended at 33.24 and dips in wave 2 ended at 22.57. The ETF has turned higher in wave 3. Up from 22.57 low, wave (i) ended at 29.61 and dips in wave (ii) ended at 22.58. Wave (iii) higher ended at 33.47. Near term, as far as pivot at 21.16 low stays intact, expect pullback to find support for further upside.

Source: https://elliottwave-forecast.com/stock-market/silver-miners-etf-sil-has-turned-higher/

 

[Elliottwave-Forecast]

Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of Bank of America Corp. ($BAC). The rally from 1.17.2024 low at $31.28 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 7 swings and find buyers again. We will explain the structure & forecast below:

7 Swings WXY correction​

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$BAC 1H Elliott Wave Chart 4.11.2024:​

Here is the 1H Elliott Wave count from 4.11.2024. We expected the pullback to find buyers at the blue box area at 36.26 – 35.25 in 7 swings.

$BAC 1H Elliott Wave Chart 4.15.2024:​

Here is the latest 1H update from 4.15.2024 showing the bounce taking place as expected. The stock has reacted higher from the blue box area allowing longs to get risk free. The stock is expected to remain supported with a target area towards $39 – 40 before another pullback can happen.
Source: https://elliottwave-forecast.com/st...corp-bac-found-buyers-blue-box-area-expected/

 

[Elliottwave-Forecast]

ONEOK Inc. (OKE), engages in gathering, processing, fractionation, storage, transportation & marketing of natural gas & natural gas liquids in the United States. It operates through Natural gas gathering & processing, Natural gas liquids & Natural gas pipelines segments & Refined products & Crude. The company is based in Tulsa, Oklahoma, comes under Energy sector & trades as “OKE” ticker at NYSE.

OKE - Elliott Wave Latest Weekly View:​

OKE is trading at all time high, favoring upside in I of (III) as broke above $78.48 high. Above $50.50 low of (II), it expects further upside as the part of impulse sequence as (3) of ((3)) of I. In Weekly sequence, it ended ((II)) at $12.16 in March-2020 low. Above there, it favors upside in (III) of ((III)) as it breaks to new high. It placed (I) of ((III)) at $75.07 high in April-2022 & (II) at $50.50 low as double correction. (II) correction was 0.382 Fibonacci retracement of (I) & missed to reach the extreme areas in y.

OKE - Elliott Wave Latest Daily View: ​

Above (II) low, it placed ((1)) of I at $71.57 high & ((2)) at $55.91 low as 0.764 Fibonacci retracement. It placed (2) of ((3)) at $60.58 low & broke to new high above (I) as the part of (3) of ((3)). It placed 1 of (3) at $72.52 high as diagonal structure, 2 at $67.05 low & 3 of (3) at $80.81 high. Currently, it favors pullback in 4 & should correct towards $77.61 - $75.59 area before it may resume rally in 5 of (3). We like to buy the pullback in clear 3, 7 or 11 swings correction at extreme areas, while dips remain above $67.05 low.

Source: https://elliottwave-forecast.com/stock-market/oneok-should-remain-supported-in-bullish-sequence/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of AUDJPY Forex pair, published in members area of the website. As our members know we have been favoring the long side in YEN pairs. Recently we got a pull back that has made a clear 3 waves pull back that found buyers right at the equal legs area. In the further text we are going to explain the Elliott Wave forecast

AUDJPY H4 Weekend Update 04.13.2024​

AUDJPY ended cycle from the 96.8676 low and now correcting it. Current view suggests wave 4 red pull back can be unfolding as Elliott Wave Zig Zag Pattern. The Equal legs area is already reached at 98.799-98.460. We are aware that pull back can complete any moment. We don’t recommend selling the pair and expect further rally to resume from the buyers zone : 98.799-98.460.

Reminder : You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

AUDJPY H1 Midday Update 04.15.2024​

AUDJPY has given us a nice reaction from the Equal Legs zone as expected. The bounce reached and exceeded 50% Fibonacci retracement against the ((b)) high, so we consider wave 4 red completed at the 98.7 low. We anticipate a break of the 3 red peak to confirm that the next leg up is in progress. Alternatively, if the price breaks below the 98.7 low, the pair will open up the possibility for a 7-swing pattern toward 97.963-97.476 area. In that case, any long positions will be stopped out at Break Even, and we will look to buy the dips again at the next set of equal legs.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.



Source: https://elliottwave-forecast.com/forex/audjpy-elliott-wave-forecasting-path/

 

[Elliottwave-Forecast]

In this technical blog we’re going to take a quick look at the Elliott Wave charts of CADJPY , published in members area of the website. As our members know we are favoring the long side in YEN pairs. Recently the pair has given us 3 waves pull back that found buyers right at the equal legs area. In the further text we are going to explain the Elliott Wave forecast.

CADJPY H4 Weekend Update 04.13.2024​

CADJPY is giving us 4 red pullback against the 108.653 low. The current outlook indicates that the pullback may be evolving as an Elliott Wave Expanded Flat pattern. It's crucial to observe that the extreme zone has already been reached at 111.168-110.358. We anticipate buyers to emerge in this area, potentially driving a further rally towards new highs or at least generating a three-wave bounce.

Reminder : You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

CADJPY H4 Update 04.13.2024​

CADJPY has given us a nice reaction from the Equal Legs-Buyers zone as expected. We count wave 4 red pullback completed at the 110.854 low. Now, we would like to see a break of the 3 red peak to confirm that the next leg up is in progress. We don't recommend selling the pair in any proposed pullback, and favor the long side.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.



Source: https://elliottwave-forecast.com/forex/cadjpy-elliott-wave-forecasting-rally/

 

[Elliottwave-Forecast]

SuperVerse $SUPER is building and delivering Web3 products that empower crypto natives with next-generation NFT functionality, and onboard Web2 users through immersive blockchain gaming experiences. In today's article, we'll take a look at the recent daily bullish setup that took place and explore the potential path based on the Elliott Wave Theory.
$SUPER rallied within an impulsive 5 waves advance since October 2023 and it reached a high of $1.6 on the 7th of March 2024 marking an impressive 2140% advance in wave ((1)). Down from there, the token faced a 56% decline within a corrective 7 swings structure ( Double Three ) in wave ((2)). The correction to the downside reached the extreme blue box area at equal legs $0.83 - $0.48 and it provided buyers with a good investment entry for a potential higher target in wave ((3)).
As we can see in the following chart, $SUPER has already reacted from the blue boxe area which is a High-frequency area where the market is likely to end cycles and make a turn. The daily bullish structure is suggesting more upside to follow when the trend resumes and we expect the token to remain supported in 3, 7 or 11 swings during pullbacks.

$SUPER Daily Chart 4.16.2024​

Setup Recap
-Time Frame : Daily
-Entry Area : $0.83 - $0.69
-Invalidation Condition : Daily Close below $0.5
-Targets / Ratio : Target 1 $2.2 (3.55 RR) - Target 2 $3.1 (5.88RR) - Target 3 $5.6 (12.3RR)
Source: https://elliottwave-forecast.com/cryptos/superverse-super-investment-opportunity/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of NVDA. We presented to members at the elliottwave-forecast. In which, the rally from 03 January 2024 low unfolded as an impulse structure and showed a higher high sequence favored more upside to take place. Therefore, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

NVDDA 4-Hour Elliott Wave Chart From 4.04.2024​

Here’s the 4hr Elliott wave chart from the 9/20/2023 update. In which, the cycle from the 1/03/2024 low ended in wave ((3)) as an impulse structure at $974 high. Down from there, the stock made a pullback in wave ((4)) to correct that cycle. The internals of that pullback unfolded as Elliott wave double three structure where wave (W) ended at $841.66 low. Wave (X) bounce ended at $967.66 high and wave (Y) managed to reach the blue box area at $834.76- $752.75. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

NVDA Latest 4-Hour Elliott Wave Chart From 4.15.2024​

This is the latest 4hr Elliott wave Chart from the 4/15/2024 update. In which the stock is showing a reaction higher taking place, right after ending the correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above $974 high is still needed to confirm the next extension higher & avoid a double correction lower.

Source: https://elliottwave-forecast.com/stock-market/nvda-reacting-after-a-b-c-correction/