Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

AIOZ is an Ethereum token that powers Aioz Network, a (dCDN) Layer 1 blockchain: Decentralized Content Delivery Network . It powers AI computation, data storage, and seamless media streaming for decentralized applications (dApps) within the network.

Starting in September of last year, AIOZ rallied for seven straight months, achieving a 9600% advance in wave ((1)). Down from there, it started a correction to the downside within wave ((2)).

The coin faced a 60% decline over 7 swings, forming an Elliott Wave Double Three structure. It's currently reaching our extreme blue box in the equal legs area of $0.43 - $0.10. We expect wave ((2)) to finish here and a new upward move to start in wave ((3)).

Consequently, AIOZ investors will look to accumulate around this blue box area. They anticipate the next daily cycle to the upside or at least a larger bounce from there.

AIOZ Daily Chart 6.25.2024​

Setup Recap

-Time Frame : Daily
-Entry Area : $0.43 – $0.30
-Invalidation Condition : Daily Close below $0.1
-Target : $1.45
-Ratio : 3 RR
Source: https://elliottwave-forecast.com/cryptos/aioz-network-corrective-decline/

 

[Elliottwave-Forecast]

Short Term Elliott Wave in USDJPY shows incomplete bullish sequence from 6.4.2024 low favoring more upside. Up from 6.4.2024 low, wave 1 ended at 157.4 as the 1 hour chart below shows. Pullback in wave 2 unfolded as a zigzag structure. Down from wave 1, wave ((a)) ended at 156.92 and wave ((b)) ended at 157.38. Wave ((c)) lower ended at 155.7 which completed wave 2 in higher degree. The pair extended higher again in wave 3 with internal subdivision as an impulse Elliott Wave structure. Up from wave 2, wave ((i)) ended at 157.3 and pullback in wave ((ii)) ended at 156.57. Pair then extended higher in wave (i) of ((iii)) towards 158.26 and pullback in wave (ii) ended at 156.87.

Up from wave (ii), wave i ended at 158.23 and pullback in wave ii ended at 157.59. Pair then extended higher in wave iii towards 159.12 and dips in wave iv ended at 158.65. Wave v higher ended at 159.93 which completed wave (iii). Pullback in wave (iv) ended at 158.71. Expect pair to extend higher a few more highs before ending wave (v) of ((iii)). Near term, as far as pivot at 155.66 low stays intact, dips should find buyers in 3, 7, or 11 swing for further upside.

UDSJPY 60 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/news/elliott-wave-expects-usdjpy-extend-higher-impulsive-sequence/

 

[Elliottwave-Forecast]

Hello traders! Welcome to another blog post where we apply the Elliott wave theory to various financial instruments. Today, we'll focus on Exxon Mobil (XOM) using the Elliott wave theory. Specifically, we'll analyze an Elliott wave path from one of our June 2024 updates shared with ElliottWave-Forecast members.

Exxon Mobil (XOM) hit new all-time highs in April 2024, confirming a bullish cycle. However, the Elliott wave provides more precise insights into the XOM trend, as shown in our weekly chart below.

XOM Elliott Wave Analysis - Weekly Chart, 6.23.2024​

The weekly chart shows XOM in a bullish sequence within wave V of (I) of ((III)) from the 23rd October weekend update. It shows that the price is correcting in wave ((2)) of V. Wave ((1)) reached a fresh all-time high, surpassing the September 2023 high. From this top, the price corrected in wave ((2)) for over two months. We anticipate wave ((3)) will start and lead to another all-time high after breaching the peak of wave ((1)). The best trading strategy is to identify a clear trend and buy dips in a bullish sequence or sell bounces in a bearish sequence. After seeing this chart on June 23, 2024, our members knew to buy the pullback at the extreme of a 3, 7, or 11 swing from the blue box. So, where would we buy? We look for opportunities in the lower time frames.

XOM Elliott Wave Analysis - H4 Chart, 6.10.2024​

Before the 6.23.2024 weekly chart, we shared the H4 chart above on June 10, 2024, highlighting the blue box. Blue boxes indicate high-frequency areas where markets likely end cycles and turn. In a bullish sequence, we buy pullbacks from the blue box; in a bearish sequence, we sell bounces. Wave ((2)) was in the final stage of a double zigzag structure. We expected wave ((2)) to end at the blue box and find support to start wave ((3)) upwards.

XOM Elliott Wave Analysis - H4 Chart, 6.25.2024​

As expected, wave ((2)) found support in the blue box, as shown in the June 25, 2024 H4 chart above. The price is now moving away from the blue box towards a risk-free area where buyers can manage trades and reduce risk. Wave (1) of ((3)) should complete before the next pullback for ((2)). The rally may not be straightforward. However, our analysts will monitor the sub-waves on H1/M30 time frames and share updates with members several times a day.

Source: https://elliottwave-forecast.com/stock-market/xom-found-buyers-at-the-extreme/

 

[Elliottwave-Forecast]

Short Term Elliott Wave in AUDJPY suggests rally from 6.4.2024 low is in progress as a 5 waves impulse structure. Up from 6.4.2024 low, wave 1 ended at 104.8 and pullback in wave 2 ended at 103.57. Internal subdivision of wave 2 unfolded as a zigzag where wave ((a)) ended at 103.6, wave ((b)) ended at 104.27, and wave ((c)) lower ended at 103.56. This completed wave 2 in higher degree and the pair has turned higher in wave 3. Up from wave 2, wave ((i)) ended at 104.38 and pullback in wave ((ii)) ended at 104.

Pair has extended higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 104.78 and dips in wave (ii) ended at 104.38. Pair extended higher in wave (iii) towards 105.96 and pullback in wave (iv) ended at 105.45. Final leg wave (v) ended at 106.33 which completed wave ((iii)). Pullback in wave ((iv)) ended at 105.56. Pair has extended higher in wave ((v)) with internal as another impulse in lesser degree. Up from wave ((iv)), wave (i) ended at 106.39 and dips in wave (ii) ended at 105.90. Wave (iii) higher ended at 106.96. Expect pullback in wave (iv) before it resumes higher. Near term, as far as pivot at 103.56 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

AUDJPY 60 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/news/elliott-wave-intraday-analysis-audjpy-looking-end-wave-5/

 

[Elliottwave-Forecast]

Short Term Elliott Wave in USDCHF suggests pair ended the move down from 5.1.2024 high as wave (1) at 0.882. Wave (2) corrective rally is now in progress to correct cycle from 5.1.2024 high. Internal subdivision of wave (2) is unfolding as a zigzag Elliott Wave structure. Up from wave (1), wave ((i)) ended at 0.8853 and dips in wave ((ii)) ended at 0.883. Pair extended higher in wave ((iii)) towards 0.8926 and pullback in wave ((iv)) ended at 0.89. Final leg wave ((v)) ended at 0.8945 which completed wave A in higher degree.

Down from wave A, wave ((a)) ended at 0.892 and rally in wave ((b)) ended at 0.8942. Wave ((c)) lower ended at 0.8912 which completed wave B in higher degree. Pair has resumed higher in wave C. Up from wave B, wave ((i)) ended at 0.895 and pullback in wave ((ii)) ended at 0.8934. Pair extended higher in wave (i) towards 0.8983 and pullback in wave (ii) ended at 0.8952. Up from there, wave i higher ended at 0.898 and pullback in wave ii ended at 0.8956. Near term, as far as pivot at 0.882 low stays intact, expect pullback to find support in 3, 7, or 11 swing and pair to extend higher. ind support in 3, 7, or 11 swing for further upside.

USDCHF 45 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/news/elliott-wave-intraday-analysis-looking-usdchf-correct-wave-2/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of Netflix (NFLX) Stock published in members area of the website. Our members are aware of the numerous positive trading setups we've had among stocks and indices recently. One of them is NFLX, which made a pullback that concluded right at the Equal Legs zone (Blue Box Area). In the following text, we’ll delve into the Elliott Wave pattern and trading setup.

NFLX H1 update 06.24.2024​

Netflix stock is currently in a wave ((iv)) pullback, unfolding as an Elliott Wave Zig Zag pattern. We’ve labeled the pullback as (a) (b) (c) in blue. The pullback is still incomplete at the moment. The stock should ideally see an extension down toward the blue box-buying zone: the 666.26-653.38 area. We expect the stock to rally toward new highs or bounce in 3 waves from there. When the price retraces to the 50% Fibonacci level against the (b) blue connector, we’ll secure positions, set the stop loss at breakeven, and take partial profits.
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.

NFLX H1 update 06.28.2024​

The stock found buyers as expected and made a good rally from the Blue Box, as expected. Consequently, any long positions taken from the equal legs area are now risk-free, and we have already taken partial profits. We consider wave 2 red completed at the 662.67 low. The stock remains bullish against the 626.44 pivot. As long as that pivot holds in our system, we believe the stock should continue finding buyers in 3, 7, 11 swings, for a further extension toward new highs or alternatively in a 3-wave bounce.

Keep in mind not every chart is trading recommendation. You can check most recent charts and new trading setups 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/stock-market/netflix-nflx-buying-dips-blue-box/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of AAPL. We presented to members at the elliottwave-forecast. In which, the rally from 19 April 2024 low is unfolding as an impulse structure. Showing a higher high sequence favored more upside extension 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:

AAPL 1-Hour Elliott Wave Chart From 6.23.2024​

Here’s the 1-hour Elliott wave chart from the 6.23.2024 weekend update. In which, the short-term cycle from the 5.23.2024 low ended in wave (3) at $220.20 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 zigzag structure where wave A ended at $211.30 low. Wave B bounce ended at $218.95 high and wave C managed to reach the blue box area at $209.95- $204.40. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

AAPL Latest 1-Hour Elliott Wave Chart From 7.01.2024​

This is the latest 1-hour Elliott wave Chart from the 7.01.2024 Midday update. In which the stock 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 $220.20 high is still needed to confirm the next extension higher & avoid a double correction lower.

Source: https://elliottwave-forecast.com/stock-market/aapl-perfect-reaction-higher-blue-box/

 

[Elliottwave-Forecast]

Johnson & Johnson (JNJ) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. Its common stock is a component of the Dow Jones Industrial Average, and the company is ranked No. 36 on the 2021 Fortune 500 list of the largest United States corporations by total revenue.

JNJ Daily Chart February 2024 ​

In the last analysis, we called 3 waves more to the downside to end a double correction structure ((W)), ((X)), ((Y)). The stock reacted lower from a blue box area ending wave ((X)) and starting wave ((Y)). First leg of wave ((Y)) did 3 swings, with a wave B as a flat correction, ending wave (W) at 144.95 low. Then, we were looking for 3 swings higher to fail below 175.97 high to complete wave (X) before seeing lower prices.

JNJ Weekly Chart June 2024​

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In the Weekly chart above, we have adjusted the labelling of the structure from 186.69 high. Down from the peak. We are labeling a flat correction as wave ((W)) where wave (C) is an ending diagonal. Wave (A) ended at 159.17 low in Oct 2022 and wave (B) rally finished at 181.04 high. Then, the structure looked like as a double correction because we have a lot of waves traslaped. However, the momentum lower has slowed down, suggesting that JNJ could be ready for a rally and the ending structure as wave (C) is the best option for this.

The double correction is still possible that plays out, but for that, the market needs to drop to 134.40 - 132.50 area and see a strong bounce from there. In that scenario the structure would be a double correction instead (A), (B), (C). Either way, the trade from the blue box should end soon because JNJ could rally in 3 swings at least.

JNJ Daily Chart June 2024​

With a new Daily chart of JNJ, the market didn't have the strengh to break the old wave A high (now wave 4) and resumed lower favoring our trade from the blue box. The price action broke below 144.95 wave 3 low, suggesting we are currently trading in wave 5 of (C). It is possible that wave 5 could be ended at 143.13 wave ((w)) low. However, the structure does not help too much and we are calling one more slighly low to end wave 5 of (C) and also wave ((W)).

If everything results as we expect, JNJ should end wave ((W)) structure in 142. 25 - 138.52 area where we have to close our trade from the blue box. Even if market could drop more as we said before to build a double correction, it is better to closed it in the area we mentioned and wait for a rally.

Source: https://elliottwave-forecast.com/stock-market/jnj-rally-soon-3-swings-higher/

 

[Elliottwave-Forecast]

Short Term Elliott Wave in GOOGL suggests the bullish impulse sequence in progress & expect to remain supported in 3, 7 or 11 swings in pullback to resume rally within the sequence from October-2022 low. It favors upside in (3) of ((5)) in 4-hour sequence against 173.63 low from 6.14.2024 low & expect one more push higher in 5, while proposed ended 4 at 181.30 low. Within (3) sequence, it should break above 186.78 high to confirm the upside to be 5 to finish (3) of ((5)). In 4-hour, it ended (1) at 180.41 high & (2) at 173.63 low in the sequence started from 5.01.2024 low.

Up from (2) low, it placed 1 of (3) at 178.36 high & 2 pullback at 174.10 low as dip pullback. Above there, it ended 3 at 186.78 high as extended move & proposed ended 4 at 181.30 low as 3 swing correction. Within 3, it placed ((i)) at 177.29 high, ((ii)) at 174.99 low, ((iii)) at 184.80 high, ((iv)) at 182.25 low & finally ended ((v)) at 186.78 high as 3 of (3). Short term, as long as it stays above 181.30 low, it should resume higher in 5 towards 188.08 - 190.19 area, which confirms above 186.78 high. Alternatively, if it breaks below 181.30 low, it can do double correction in (4) and should correct against 6.14.2024 low before resume rally as (5) of ((5)). In either the case, as long as it stays above 6.14.2024 low, it should resume rally in bullish sequence.

GOOGL 30 Minutes Elliott Wave Chart​

Source: https://elliottwave-forecast.com/news/elliott-wave-looking-googl-extend-rally/

 

[Elliottwave-Forecast]

Vertiv Holdings Co. (VRT), together with its subsidiaries, designs, manufactures & services critical digital infrastructure technologies & life cycle services for data centers, communication networks & commercial & industrial environments in America, Asia Pacific, Europe, Middle East & Africa. It is based in Westerville, OH, US & comes under Industrials sector & trades as “VRT” ticket for NYSE.

In Weekly sequence, VRT favors upside in III of (I) as impulse Elliott wave sequence since all time low of $4.75. Currently, it favors corrective pullback in ((4)) towards $73.40 - $58.38 area against April-2023 low before it should resume higher.

VRT - Elliott Wave Latest Daily View: ​

In weekly, it made all time low at $4.75 in March-2020. Above there, it placed I of (I) at $28.80 high in August-2021 high & II at $7.76 low in July-2022 low. It already broke to new high in III sequence as the part of (I). Within III, it placed ((1)) at $17.88 high as diagonal, ((2)) at $11.95 low as dip pullback. Above there, it ended extended ((3)) sequence at $109.27 high & favors corrective pullback in 3 swings lower towards $73.40 - $58.38 area, while bounce fail below $97.50 high.

VRT - Elliott Wave Latest Weekly View: ​

Within ((3)), it placed (1) at $43.13 high, (2) at $34.60 low, (3) at $88.69 high, (4) at $72.58 low & finally ended (5) as ((3)) at $109.27 high. It placed (A) of ((4)) at $85.14 low & (B) at $97.50 high. It already broke below (A) low, favoring downside towards daily blue box area to finish the correction. Alternatively, if it breaks above (B) high, it should be in next leg higher, while ended correction at last low. We like to buy the pullback towards daily blue box area, when reached for the next leg higher or at least 3 swing bounce. The current pullback can be either the part of ((4)) or even can be IV pullback in (I) & expect at least one more push higher.

Source: https://elliottwave-forecast.com/stock-market/vertiv-holdings-pullback-rally-resumes/

 

[Elliottwave-Forecast]

Hello everyone! In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of Tesla Inc. ($TSLA). The rally from 6.11.2024 low at $167.40 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​

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$TSLA 1H Elliott Wave Chart 6.14.2024:​

Here is the 1H Elliott Wave count from 6.14.2024. We expected the pullback to find buyers at the blue box area at 178.44 – 172.47 in 3 swings.

$TSLA 1H Elliott Wave Chart 7.02.2024:​

Here is the latest 1H update from 7.02.2024, showing the rally taking place as expected. The stock has reacted higher from the blue box area allowing longs to get risk free. The stock has reached the first target area at $227 where traders can book profits. The next target higher is $335 area and eventually new all time highs.

Source: https://elliottwave-forecast.com/video-blog/wave-tsla-impressive-rally-next/

 

[Elliottwave-Forecast]

Short Term Elliott Wave in Tesla (TSLA) shows an impulsive rally from 4.22.2024 low. Up from 4.22.2024 low, wave (1) ended at 198.87 and pullback in wave (2) ended at 167.41. The stock then nested higher in wave (3). Up from wave (2), wave 1 ended at 191.08 and dips in wave 2 ended at 176.92. The stock then rallies higher in wave 3. Internal subdivision of wave 3 unfolded as another impulse in lesser degree. Up from wave 2, wave ((i)) ended at 188.95 and pullback in wave ((ii)) ended at 179.66.

From wave ((ii)) low, the stock nested higher again within wave ((iii)). Up from wave ((ii)), wave i ended at 188.8 and wave ii pullback ended at 182.01. Wave iii rally ended at 198.72 and pullback in wave iv ended at 194.05. Final leg wave v ended at 203.2 which completed wave (i). Pullback in wave (ii) ended at 195.26. Up from there, wave i of (iii) ended at 213.19 and wave ii of (iii) ended at 202. Wave iii higher ended at 231.15 and dips in wave iv ended at 225.87. Near term, as far as pivot at 176.48 low stays intact, expect pullback to find buyers in 3, 7, or 11 swing for further upside.

Tesla (TSLA) 45 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/news/elliott-wave-looking-new-impulsive-rally-tesla-tsla/

 

[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 Grand Super Cycle wave ((II)) correction ended at 14.94. The ETF then has started a new bullish leg higher. Up from wave ((II)), wave I ended at 54.34 and pullback in wave II ended at 15.61. It then nested higher in wave III with wave ((1)) ended at 52.87 and pullback in wave ((2)) ended at 21.26. As far as the ETF stays above 15.61, expect the rally to resume higher again.

Silver Miners ETF Daily Elliott Wave Chart​

Daily Elliott Wave Chart of Silver Miners ETF (SIL) above shows that the ETF nested higher in wave ((3)). Up from wave ((2)), wave 1 ended at 33.24 and dips in wave 2 ended at 22.57. The ETF then rallied higher in wave ((i)) of 3 towards 36.15. Pullback in wave ((ii)) is still ongoing and expected to find support in 3, 7, 11 swing before further upside. While pivot at 21.16 low stays intact, expect the ETF to extend higher again.

Source: https://elliottwave-forecast.com/video-blog/silver-miners-etf-sil-correction-progress/

 

[Elliottwave-Forecast]

Hello traders. In this post, we will examine the SPX all-time bullish trend and predict the next significant pullback.

The index is close to breaking into a new all-time high, with several such moments already in 2024. In a strong trend like this, the key question is: when is the next correction? This post will answer that using the S&P 500 charts we shared with ElliottWave Forecast members.

SPX EWF Weekend Update - Weekly Chart - 06/29/2024​

We shared the above weekly chart on 06.29.2024. The chart shows the S&P 500's long-term path from its all-time low. From an Elliott wave perspective, the index is evolving into a bullish impulse cycle from the all-time low. Wave ((I)) of the grand supercycle degree ended at the peak of February 2020. The pullback for wave ((II)) followed, reaching the March 2020 low during the COVID-19 shock. The recovery from the March 2020 low marked the evolution of wave ((III)). However, the index is far from completing wave ((III)).

Wave (I) of ((III)) ended at the peak of January 2022, followed by a pullback for wave (II) of ((III)), which finished at the low of October 2022. Currently, the price is in wave (III) of ((III)). Specifically, the index is in wave ((3)) of I of (III) from the 3501.3563 low of October 2022. Wave ((3)) has not yet concluded. Price is in wave (5) of ((3)), projected to complete between 5829-6041. Since wave (5) has not yet concluded, we can expect the next significant pullback on the lower time frame when wave (5) completes its 2nd or 4th sub-wave. We can examine this on lower time frame charts like the H4.

SPX EWF Update - H4 Chart - 07/02/2024​

At the time of writing, the H4 chart above was the latest update shared with members. We update the H4 charts for all 78 instruments we cover after the New York session closes and before the Asian markets open. The H4 chart shows the price in wave 1 of (5). The next major pullback will happen when wave 1 completes and wave 2 follows, then buyers will get attracted again. Meanwhile, the index appears to have completed wave ((iv)) of 1 and is now in the final phase for wave ((v)) of 1 from the low of July 1, 2024. As wave ((v)) progresses, traders can buy pullbacks on the H1 or 30-minute chart in 3, 7, or 11 swings. We update H1/30 min charts four times a day for members.

These updates can present trade opportunities, especially waves (ii) and (iv) of ((v)). Meanwhile, the key trade for swing traders will be after the pullback for wave 2 in 3,7 or 11 swings at the extreme. Meanwhile, members can check the trade room for trade opportunities across all the time frames on all the 78 instruments covered.

Source: https://elliottwave-forecast.com/stock-market/spx-alltime-bullish-sequence-next-pullback/

 

[Elliottwave-Forecast]

BEAMX token is a Confidential Asset issued on top of the Beam blockchain. In today’s article, we’ll dive into the Elliott Wave structure taking place and we’ll explore the potential path based on the Theory.

Merit Circle (MC) token redenomination and rebranding to Beam (BEAMX) took place on November 2023. Since then, the new coin rallied for +800% in 4 months within an impulsive 5 waves structure. The initial move is designed to be a wave ((1)) and it's currently followed by decline to correct the previous cycle in wave ((2)).

The cycle from March 2024 peak is unfolding within a Double Three corrective structure and it's currently showing 5 swings to the downside. Therefore, we can expect still 2 more swings to finish a 7 swing structure toward the equal legs area at $0.013 - $0.007. This extreme blue box area is expected to provide support for the token and a daily reversal will take place from there to start the next leg to the upside within wave ((3)). Investors are expected to show up within the mentioned extreme area in preparation for a new daily cycle to the upside and they will be looking for an initial target around $0.063 area.

BEAMX Daily Chart 7.2.2024​

Setup Recap

-Time Frame : Daily
-Entry Area : $0.013 – $0.0072
-Invalidation Condition : Daily Close below $0.005
-Target : $0.063
-Ratio : 6.25 RR
Source: https://elliottwave-forecast.com/cryptos/beamx-buyers-getting-ready/

 

[Elliottwave-Forecast]

Short Term Elliott Wave in S&P 500 ETF (SPY) suggests rally from 4.20.2024 low is ongoing as a 5 waves impulse structure. Up from 4.20.2024 low, wave ((i)) ended at 534 and pullback in wave ((ii)) ended at 518.36. The ETF extended higher in wave ((iii)) towards 551.12. Pullback in wave ((iv)) unfolded as a zigzag Elliott Wave structure. Down from wave ((iii)), wave (a) ended at 543.02. Bounce in wave (b) unfolded as an expanded flat structure. Up from wave (a), wave a ended at 546.95 and pullback in wave b ended at 542.21. Wave c higher ended at 550.28 which completed wave (b) in higher degree. Wave (c) lower ended as a waves diagonal at 542.44. This completed wave ((iv)) in higher degree.

The ETF has resumed higher in wave ((v)). Up from wave ((iv)), wave i ended at 546.51 and pullback in wave ii ended at 545.12. Wave iii higher ended at 549.41 and pullback in wave iv ended at 548.27. Expect wave v to end soon which completes wave (i) in higher degree. Afterwards, it should pullback in wave (ii) to correct cycle from 7.2.2024 low before it resumes higher. Near term, as far as pivot at 542.44 low stays intact, expect pullback to find buyers in 3, 7, 11 swing for further upside.

S&P 500 ETF (SPY) 30 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/news/elliott-wave-intraday-looking-sp-500-etf-spy-end-wave-5/

 

[Elliottwave-Forecast]

Short Term Elliott Wave in EURUSD suggests cycle from 4.16.2024 low is in progress as a 5 waves impulse. Up from 4.16.2024 low, wave 1 ended at 1.0916. Pullback in wave 2 ended at 1.0664 as the 1 hour chart below shows. Pair has turned higher in wave 3. However, it still needs to break above wave 1 at 1.0916 to validate the bullish view and creates a bullish sequence. Up from wave 2, wave i ended at 1.0776 and pullback in wave ii ended at 1.0709. Pair then resumed rally higher in wave iii towards 1.0817 and pullback in wave iv ended at 1.0777.

Expect pair to extend higher in wave v to complete wave (i) in higher degree. Afterwards, pair should pullback in wave (ii) to correct cycle from 6.26.2024 low before it resumes higher again. Near term, as far as pivot at 1.066 low stays intact, pullback should find support in 3, 7, or 11 swing for further upside. Potential target for wave 3 higher is 100% - 161.8% Fibonacci extension of wave 1. This area comes at 1.0982 - 1.1177.

EURUSD 60 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/news/elliott-wave-expects-eurusd-turn-higher/

 

[Elliottwave-Forecast]

Novo Nordisk A/S (NVO), a healthcare company engages in the research, development, manufacture & marketing of the pharmaceutical products worldwide. It operates in two segments, Diabetes & Obesity care & Rare Disease. It is based in Denmark, comes under Healthcare - Biotechnology sector & trades as “NVO” ticker at NYSE.

NVO is trading at all time high in bullish weekly impulse sequence in ((3)) of III & expect to remain supported in 3, 7 or 11 swings pullback to resume higher. It favors upside in (3) & soon will starts correction, that offers trading opportunity.

NVO - Elliott Wave Latest Weekly View: ​

In weekly, it placed ((II)) at $15.45 low in November-2016 & (II) at $20.61 low in October-2018. Within (III) sequence, it placed I at $61.08 high & II at $47.51 low in September-2022 low. In I sequence, it placed ((1)) at $32.41 high, ((2)) at $24.62 low, ((3)) at $57.98 high, ((4)) at $45.76 low & ((5)) at $61.08 high. It broke above I high, ended ((1)) of III at $86.48 high & ended correction of ((2)) at $75.56 low in July-2023 low.

NVO - Elliott Wave Latest Daily View: ​

Above ((2)) low, it placed (2) at $86.96 low & favors upside in (3) of ((3)) of III. Within (3), it placed 1 at $104 high, 2 as flat correction at $94.73 low, 3 at $138.28 high & 4 at $121.29 low. Above there, it favors upside in 5 & expect two more highs to finish (3) of ((3)), while dips remain above $136.01 low. It has minimum number of swings to call the (3) completed, which confirms below price trendline. We like to buy the pullbacks in (4) or ((4)) at extreme areas while above weekly price trendline.

Source: https://elliottwave-forecast.com/stock-market/will-nvo-provide-buying-opportunity/

 

[Elliottwave-Forecast]

Hello everyone! In today’s article, we will look at the past performance of the 4H Hour Elliott Wave chart of VanEck Gold Miners ETF ( $GDX ) . The rally from 2.28.2024 low at $25.64 unfolded as a 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​

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$GDX 4H Elliott Wave Chart 6.12.2024:​

Here is the 4H Elliott Wave count from 6.12.2024. We expected the pullback against 2.28.2024 low at $25.64 to find buyers at the blue box area at 32.99 – 31.04 in 3 swings.

$GDX 4H Elliott Wave Chart 7.07.2024:​

Here is the latest 4H update from 7.07.2024, showing the rally 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 $40 – 45 area before another pullback can happen.

Source: https://elliottwave-forecast.com/stock-market/vaneck-gold-miners-etf-gdx-reaction-blue-box-gdx/

 

[Elliottwave-Forecast]

Hello fellow traders. In this article we’re going to take a quick look at the Elliott Wave charts of DAX published in members area of the website. As our members know DAX is showing impulsive bullish sequences and we are keep favoring the long side. Recently we got a 3 waves pull back that has ended right at the Blue Box zone (buying area). In the further text we are going to explain the Elliott Wave Forecast and trading setup.

DAX Elliott Wave 1 Hour Chart 06.20.2024​

DAX remains bullish against the 17629.4 pivot. The Index has made clear pull back in 3 waves. The price already reached Extreme zone ( buying area) at 18036.25-17653.97 and giving us reaction. As our members know Blue boxes are based on 100% – 161.8% Fibonacci extension area , that we trade in 3, 7, or 11 swing corrective sequence. DAX index should ideally make a rally toward new highs or 3 waves bounce alternatively.

Once the price touches the 50 fibs against the ((b)) black 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 17653.97 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.

DAX Elliott Wave 1 Hour Chart 07.08.2024​

DAX made a nice reaction from our buying zone. The index has reached and exceeded 50 fibs against the (B) blue high. So members who took the long trade are enjoying profits now in a risk free positions. We would like to see break of ((3))) black high, to confirm 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 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/dax-elliott-wave-buying-dips-blue-box-area/