Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

Short term Elliott Wave view on Apple (AAPL) suggests that the stock shows a bullish sequence from 8.5.2024 low favoring more upside. Rally from 8.5.2024 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from there, wave ((1)) ended at 232.92 and wave ((2)) pullback ended at 213.92 as the 1 hour chart below shows. Internal subdivision of wave ((2)) unfolded as a zigzag Elliott Wave structure. Down from wave ((1)), wave (A) ended at 217.48 and rally in wave (B) ended at 224.59. Wave (C) lower ended at 213.94 which completed wave ((2)) in higher degree. The stock has turned higher in wave ((3)).

Up from wave ((2)), wave 1 ended at 217.22 and pullback in wave 2 ended at 214.50. The stock has extended higher in wave 3. Up from wave 2, wave ((i)) ended at 216.9 and pullback in wave ((ii)) ended at 215.05. Wave ((iii)) higher ended at 222.71 and pullback in wave ((iv)) ended at 218.93. Final leg wave ((v)) ended at 229.82 which completed wave 3 in higher degree. Pullback in wave 4 ended at 227.11. Final leg wave 5 ended at 233.09 which completed wave (1).

Wave (2) pullback is now in progress to correct cycle from 9.16.2024 low with internal subdivision as a zigzag structure. Down from wave (1), wave A ended at 227.35 and wave B ended at 229.45. Expect wave C lower to complete at 220.2 - 223.73 area and this should also end wave (2) in higher degree. Afterwards, expect the stock to turn higher from the blue box area.

Apple (AAPL) 45 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/ne...ave-view-apple-aapl-forecasting-support-zone/

 

[Elliottwave-Forecast]

Vertiv Holdings Co., (VRT) is an American multinational provider of critical infrastructure & services for data centers, communication networks & commercial & industrial environments. It is based in Westerville, Ohio, US & comes under Industrials sector & trades as “ VRT ” ticket for NYSE.

As expected in the previous article, VRT found buyers from the daily blue box after correction ended at $62.40 low. It favors upside in V & expect new high above $109.27 to finish impulse.

VRT - Elliott Wave Daily View From 7.01.2024: ​

In weekly, above $4.75 low, it favors upside in (I) as impulse sequence. It placed I at $28.80 high in August-2021 & II as flat correction at $7.76 low in July-2022. Above that low, it resumed higher in extended III sequence, which ended at $109.27 high in May-2024. Within III, it placed ((1)) at $17.88 high, ((2)) at $11.95 low, ((3)) at $88.69 high, ((4)) at $72.58 low & finally ended ((5)) at $109.27 high as III.

VRT - Elliott Wave Latest Daily View: ​

It ended IV as zigzag correction at $62.40 low expected in last article, where buyers expected to enter the market. Buyers from the daily blue box area can have risk free long position. It placed ((A)) at $85.14 low, ((B)) at 95.48 high as flat connector & ((C)) at $62.40 low. Currently, it favors upside in (3) of ((3)) & expect short term pullback to find support in 3, 7 or 11 swings to resume rally. It placed ((1)) at $83.75 high & ((2)) at 71.12 low. Further upside in V will confirm above $109.27 high & can extend towards $120.63 – $138.68 area to finish (I). Later, we like to buy the pullback in (II) at extreme areas, when reached.

VRT - Elliott Wave Latest Weekly View: ​

Source: https://elliottwave-forecast.com/stock-market/vertiv-holdings-vrt-resumed-rally-predefined-area/

 

[Elliottwave-Forecast]

The VanEck Junior Gold Miners ETF (GDXJ) is an exchange-traded fund that aims to replicate the performance of the Junior Gold Miners. This index tracks small-cap companies primarily involved in gold and silver mining. Launched on November 11, 2009, GDXJ offers investors exposure to a diversified portfolio of junior miners, which are often in the early stages of exploration and development, providing significant growth potential.

GDXJ Monthly Elliott Wave View​

Monthly chart of Gold Miners Junior ETF (GDXJ) above suggests pullback to 16.14 ended wave ((II)) in grand super cycle degree. The ETF then started a new nesting impulse. Up from wave ((II)), wave (I) ended at 52.5. Wave (II) pullback ended at 19.52 and the ETF is now extending higher in wave (III) as a nest. Up from wave (II), wave I ended at 65.95. Dips in wave II ended at 25.80. While above 16.14, expect the ETF to extend higher.

GDXJ Daily Elliott Wave View​

Daily Elliott Wave Chart of GDXJ above shows pullback to 25.88 ended wave II. Up from there, rally is in progress as a 5 waves diagonal. Wave (1) rally ended at 41.16 and wave (2) pullback ended at 30.46. The ETF then extended higher in wave (3) which ended at 49.13. Dips in wave (4) ended at 40.26 and it has extended higher again. Further upside in wave (5) should happen and pullback should find support in 3, 7, or 11 swing against 25.88 low.

Source: https://elliottwave-forecast.com/stock-market/elliott-wave-update-gold-miners-junior-gdxj/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the Elliott Wave Charts of the DAX index. We presented to members at the elliottwave-forecast. In which, the rally from the 23 October 2023 low ended as an impulse structure. But showed a higher high sequence within the higher time frame charts favored more upside extension to take place. 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:

DAX 4-Hour Chart From 8.06.2024 Update​

Here’s the 4-hour Elliott wave chart from the 8.06.2024 update. In which, the cycle from the 10/23/2023 low ended as an impulse structure at 18892.92 high. Down from there, the index made a pullback to correct that cycle. The internals of that pullback unfolded as Elliott wave double three structure where wave (W) ended at 17951.17 low. While wave (X) bounce ended at 18779.40 high. Then wave (Y) managed to reach the extreme equal legs area at 17596.93- 16946.53. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

DAX Latest 4-Hour Chart From 9.23.2024 Update​

This is the latest 4-hour Elliott wave Chart from the 9.23.2024 update. In which the index shows a reaction higher taking place, right after ending the correction within the extreme area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. Since then, index has already made a new high above 18892.92 high confirming the next extension higher.

Source: https://elliottwave-forecast.com/stock-market/dax-provided-good-buying-opportunity/

 

[Elliottwave-Forecast]

Silver (XAGUSD) is close to breaking above previous peak on 5.20.2024 high at 32.51. A break above the level confirms the next leg higher has resumed. Short term, rally from 9.9.2024 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 9.9.2024 low, wave ((i)) ended at 31.23 and pullback in wave ((ii)) ended at 29.68. The metal has resumed higher in wave ((iii)). Up from wave ((ii)), wave i ended at 30.27 and pullback in wave ii ended at 29.89. The metal extended higher in wave iii towards 31.29 and wave iv pullback ended at 30.60. Final wave v higher ended at 31.43 which completed wave (i) in higher degree.

Pullback in wave (ii) ended at 30.34 with internal subdivision as a zigzag structure. Down from wave (i), wave a ended at 30.88 and wave b rally ended at 31.34. The metal then extended lower in wave c towards 30.34 which completed wave (ii) in higher degree. The metal has turned higher again in wave (iii). Up from wave (ii), wave i ended at 31.01 and wave ii pullback ended at 30.61. Expect wave iii to end soon, then it should pullback in wave iv to correct cycle from 9.23.2024 low in 3, 7, 11 swing before it resumes higher again. Near term, as far as pivot at 29.68 low stays intact, expect dips to find support in 3, 7, 11 swing for further upside.

Silver 30 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/news/elliott-wave-expects-silver-xagusd-continue-bullish-move/

 

[Elliottwave-Forecast]

Kaspa is a proof-of-work (PoW) blockchain that implements the GHOSTDAG protocol with rapid block processing and minimal confirmation durations. It's ative cryptocurrency KAS is used for on-chain transactions and mining rewards. In today’s video bog, we’ll explore Elliott Wave pattern taking place within the short term cycle and explain the potential path based on the theory.

KAS rallied in 5 waves impulsive structure up from 9/6 low and it managed to trade above August peak which created a bullish sequence for the coin. The move higher in wave (1) ended at $0.18 then it started a 3 waves pullback in wave (2). The correction to the downside unfolded into a Zigzag structure and it reached the target area at equal legs $0.161 - $0.151.

The blue box presented in our chart is a technical area where we expect KAS to end the correction. Up from there, it turned to the upside either to start a new 5 waves advance in wave (3) or at least bounce it will bounce in 3 waves from there. We expect the coin to remain supported as buyers showed up and ideally the next move to the upside will be looking for target at $0.20 - $0.22.

KAS Hourly Chart 9.25.2024​

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Source: https://elliottwave-forecast.com/cryptos/kaspa-kas-blue-box-area/

 

[Elliottwave-Forecast]

Cycle from 8.5.2024 low in GBPJPY is in progress as a double three Elliott Wave structure. Up from 8.5.2024 low, wave (W) ended at 193.48 and pullback in wave (X) ended at 183.67. Internal subdivision of wave (X) unfolded as a zigzag. Down from wave (W), wave A ended at 187.23 and wave B ended at 189.58. Wave C lower ended at 183.67 which completed wave (X). Pair has turned higher in wave (Y) with internal subdivision as a zigzag structure.

Wave A of (Y) is in progress as a 5 waves impulse Elliott Wave structure. Up from wave (X), wave ((i)) ended at 186.63 and pullback in wave ((ii)) ended at 183.75. Pair has resumed higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 187.45 and wave (ii) ended at 185.81. Wave (iii) higher ended at 190.39 and wave (iv) ended at 188.66. Final wave (v) higher ended at 192.3 which completed wave ((iii)). Pullback in wave ((iv)) ended at 190.12. Expect pair to end wave ((v)) of A soon, then it should pullback in wave B to correct cycle from 9.11.2024 low in 3, 7, 11 swing before pair resumes higher again. Near term, as far as pivot at 183.67 low stays intact, expect dips to find buyers in 3, 7, 11 swing for further upside.

GBPJPY 60 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/news/short-term-elliott-wave-impulse-gbpjpy-favors-higher/

 

[Elliottwave-Forecast]

The VanEck Semiconductor ETF (SMH) is an exchange-traded fund that tracks a market-cap weighted index composed of 25 of the largest U.S.-listed semiconductor companies. The top holdings of SMH include companies like NVIDIA, Taiwan Semiconductor Manufacturing, Broadcom Inc., Texas Instruments, QUALCOMM, ASML Holding N.V., Applied Materials, Inc., Lam Research Corporation, Micron Technology, Inc., and Advanced Micro Devices, Inc.

SMH 4 Hour Chart May 23th​

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In May, we showed how SMH had reached the proposed blue box area. The idea was to look for buying opportunities in the zone to continue the upward movement. This correction ended a wave (IV) at 198.45 low and it had to continue with wave (V) that broke the peak of wave (III). In the chart, it can be seen that the market broke wave (III) high as we expected.

SMH 4 Hour Chart Blue Box Reaction​

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In the chart above, we can clearly see the market reaction from the blue box. We expected to reach as target the price of 265, giving us a profit of more than 29%; however, it reached as high as 284.26. This unexpected extension made us to adjust the count. Suggesting that SMH was still trading in wave (III). Therefore, what was wave (IV) became wave II and thus a wave (III) was formed ending at 284.26 high.

SMH 4 Hour Chart September 11th ​

After completing wave (III), we had a deep pullback as a zig zag correction. Down from wave (III), wave "a"ended at 226.50 low and bounce as wave "b" ended at 251.00 high. Last push lower completed wave "c" and a wave (IV) at 197.50 low. Then, SMH started the uptrend again and wave (V). It built an impulse structure ending at 253.32 high as wave I. Pullback as wave II ended at 213.57 low. From here, we were expecting to continue the rally in wave III of (V). Ideally, the market should break 284.26 high as target to end wave (V). In case, if this rally does not break above wave (III), the next target to keep an eye comes around 269.50 level.

Source: https://elliottwave-forecast.com/stock-market/smh-semiconductor-pushing-upside/

 

[Elliottwave-Forecast]

Hello traders. Welcome to a new trade setup blog post. In today's post, we will discuss the long-term path for NZDUSD currency pair and how we recommended buying dips on this pair to Elliottwave-Forecast members.

From a long-term perspective, NZDUSD completed a Cycle Degree wave I in early February 2023. Following wave I, a wave II pullback is expected in a corrective structure. Since the high of February 2023, the pair completed wave ((W)) of II in late October 2023. We identified this as wave ((W)) rather than wave II because the recovery from October 2023 has been corrective. Therefore, we anticipate that wave II could be forming as a double correction, unless the price breaches the wave I high. This forms our long-term outlook on the weekly chart. We update the daily and weekly charts for our members every weekend.

In the medium term, a recovery for wave (C) of ((X)) began from the low in August 2024. On the H4 and daily charts, we have identified a bullish sequence from the August low, which supports our view for further upside. In such a bullish sequence, we prefer to buy dips in a 3, 7, or 11 swing structure. Accordingly, we advised our members to wait for pullbacks rather than buying at the top. In addition to showing the path on our charts, we also provide members with key zones for potential entries and stop placements. Here's an example of such guidance shared with members on September 7, 2024.

NZDUSD Elliott Wave Analysis - 09.07.2024. H4 Chart​

On 9.7.2024, we shared the chart above with our members. After completing a bullish impulse sequence from August 5, 2024, a pullback began. We identified the dip as a 3-swing corrective structure, with an extreme zone between 0.6121 and 0.6040. This suggested that buyers should look for entries around 0.6121, with stops placed just below 0.6040. From this extreme zone, we expected the 2nd leg of the pullback to complete, then a 3rd leg should advance in a 5-wave structure. In the long run, trading in the direction of the prevailing trend tends to be most profitable. For NZDUSD, that trend remains to the upside from October 2022.

NZDUSD Elliott Wave Analysis - 09.26.2024. H4 Chart​

Eventually, the price found support at the extreme of the pullback, just as we had anticipated. The 2nd wave concluded at this level, and the 3rd wave began. The price broke above the 1st wave, confirming that the 3rd wave of the bullish cycle from August 5th should continue, with potential targets at least 0.65550, and possibly higher, towards 0.6830. Buyers from the zone have closed half of their positions and adjusted the rest to breakeven. With no remaining risk on the table, they can now wait for the next pullback to buy again.

From our side, we will continue analyzing the charts 24 hours a day. When we identify another buying zone like this, we will share with traders via our chart updates, the live trading journal, and the live trading room.

Source: https://elliottwave-forecast.com/forex/nzdusd-bought-dip-post-range/

 

[Elliottwave-Forecast]

In this technical article we’re going to take a quick look at the Elliott Wave charts of GBPCAD Forex Pair , published in members area of the website. As our members know, GBPCAD has recently given us correction against the 1.2664 low. The pair reached our target zone and completed correction right at the Equal Legs ( Blue Box Area) . In further text we’re going to explain the Elliott Wave pattern and trading setup.

GBPCAD H1 Update 09.26.2024​

GBPCAD is correcting cycle from the 1.7687 low. The pull back looks to be unfolding as Double Three pattern. The price has already reached the extreme zone and we are aware that correction can complete any moment. We advise against selling GBPCAD at this stage. The pair should ideally attract buyers at the Blue Box zone. We can see either rally towards new highs or a larger corrective bounce in three waves at least. Once the bounce reaches the 50% Fibonacci retracement level against the connector high – (x) blue , we’ll secure our position by moving the stop-loss to breakeven. To safeguard our trade, we’ll closely monitor for any break below the marked invalidation level : 1.2941

A quick reminder:

Our charts are designed for simplicity and ease of trading:

• Red bearish stamp + blue box = Selling Setup
• Green bullish stamp + blue box = Buying Setup
• Charts with Black stamps are deemed non-tradable.

For those eager to deepen their understanding of Elliott Wave Patterns, we invite you to explore our Free Elliott Wave Educational Web Page.

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

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GBPCAD H1 Update 09.26.2024​

We got a nice rally from our buying zone toward new highs, confirming pull back completed at the 1.794 low. As a result, traders who entered long positions are now enjoying risk-free profits. With the price holding above the 1.794 low, we believe that more upside should be seen. We don't like selling the pair in any proposed pull back, and prefer staying long from the blue box are in risk free positions.

Please bear in mind that the market is constantly evolving. The outlook presented here may have shifted since. For the latest updates, refer to the most recent charts available in our membership area. We focus on trading instruments with incomplete bullish or bearish swing sequences. The Live Trading Room highlights the best opportunities in real-time.



Source: https://elliottwave-forecast.com/trading/gbpcad-elliott-wave-buying-dips-blue-box/

 

[Elliottwave-Forecast]

JPMorgan Chase & Co. (JPM) is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of December 31, 2021, JPMorgan Chase is the largest bank in the United States, the world's largest bank by market capitalization, and the fifth-largest bank in the world in terms of total assets, with total assets totaling to US$3.831 trillion.

JPM Daily Chart June 2024​

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More than a year ago, we have see how JPMorgan shares have double in value from 100 to 200 dollars. Above we have the Daily Chart Forecast from June. We were expecting to continue higher to end a wave (3) structure. We called wave (1) at 144.34 high. Then a flat correction as wave (2) finished at 123.11 low, and the rally should end a wave 5 of (3) in 206 - 215 area before seeing a pullback in wave (4).

JPM Daily Chart September 2024​

After some days, JPM completed wave (3) as expected forming a new high for July. At the end the impulse was like this: wave 1 ended at 159.38 high. Then market did a zig zag correction to end wave 2 at 135.19 low. The stock did a strong rally to 200.94 to end wave 3 and the correction as wave 4 ended at 179.20 low. Last push to complete wave (3) reached 217.56 high, a little more than the area we are expecting for. Wave (4) was very fast, developing a flat structure ending at 190.92 low. The market rally again and it is building wave (5) of ((3)). Currently, wave 1 of (5) ended at 225.48 and wave 2 of (5) completed at 200.61. Actually, we are looking for more upside to end wave 3 of (5).

JPM Weekly Chart September 2024​

In the weekly chart, we can see the complete impulse from March 2020 low. Wave ((1)) ended at 172.28 and wave ((2)) completed at 101.28 low. The impulse from 101.28 low is still incomplete and it needs more upside to end wave ((3)). The ideal area to end this wave ((3)) comes in 234 - 241 zone, if there is not more extension, where sellers should be waiting to start wave ((4)) correction.

Source: https://elliottwave-forecast.com/stock-market/jpmorgan-jpm-not-weakness-near-term/

 

[Elliottwave-Forecast]

Gold-to-Silver Ratio has always been a useful tool to forecast the direction the underlying metals (i.e. Gold and Silver). We can calculate the ratio simply as Gold price divided by Silver price. The average gold-silver ratio was 47:1 in the 20th century. In the 21st century, the ratio has ranged mainly between 50:1 and 70:1. It broke above that point in 2018 with a peak of 104.98:1 in 2020 during the Covid 19. The lowest level for the ratio was 35:1 in 2011. The long-run average gold/silver ratio is around 65:1 since the 1970s when the gold standard was abandoned. Historically, the ratio hovered more around 15:1. The current ratio is above 80, which is at the higher end side.

When the ratio is going higher, it is often an indicator of the underlying price of Gold and Silver going down. On the contrary, when the ratio is going lower, then the price of gold and silver is going higher. In the chart below, we try to see the long term outlook of this ratio in years ahead.

Gold-to-Silver (AUG) Daily Elliott Wave Chart​

Daily Elliott Wave Chart of Gold-to-Silver ratio above shows that the ratio has been trading sideways in a triangle since 2021. The March 2020 high was a Covid-19 spike move which formed major high, just like it formed major low in Indices around the world. The ratio then turned lower as a 5 waves impulse which ended wave a at 62.51. It then corrected in a 3 waves zigzag ending wave b at 96.58.

The ratio turned lower but it has not yet broken below wave a. It still needs to break below wave a to confirm the next long term direction. We can also see the ratio breaks lower from the triangle earlier this year but it has rallied inside the triangle again before getting rejected. At this stage, we can still consider the ratio to be sideways. Short term, if the ratio breaks below wave (1), it should confirm to favor the bearish side.

Source: https://elliottwave-forecast.com/video-blog/gold-silver-ratio-aug-still-waiting-next-direction/

 

[Elliottwave-Forecast]

Mastercard Incorporated (MA), provides transaction processing & other payment-related products & services in the United states & internationally. The company offers payment related products to integrated products & value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments & other organizations. It is headquartered in New York, comes under Financial Services sector & trades as “MA” ticker at NYSE.

As expected from the previous article, MA continue rally in ((3)) of I started from March-2023 low after (4) correction ended at $428.86 low. It already made new high in weekly within ((3)) of I soon expect to pullback in 3, 7 or 11 swings in ((4)) correction.

MA - Elliott Wave Latest Weekly View: ​

In Weekly sequence, it ended (I) at $401.50 high as impulse sequence from the all-time lows in April-2021 high. Below there, it placed (II) as double correction at $276.87 low in -October-2022. Within (II) correction, it placed w at $306 low & x at $399.92 high in January-2022. Finally, it ended y of (II) at $276.87 low in October-2022 low. Above there, it favors upside in I of (III) & expect further rally before correcting in II.

MA - Elliott Wave Weekly View From 4.29.2024:​

Within wave I, it placed ((1)) at $390 high & ((2)) at $340.21 low. Above there, it favors upside in ((3)), in which it ended (1) at $418.60 high, (2) at $359.77 low, (3) at $490 high & (4) at $428.86 low. Currently, it favors upside in 5 of (5), while dips remain above $483.54 low to finish ((3)) between $480.28 – $523.60 area. Later, it should pullback in ((4)) in 3, 7 or 11 swings before final push higher to finish I sequence. We like to buy the pullback in 3, 7 or 11 swings at extreme areas, when reached.

Source: https://elliottwave-forecast.com/stock-market/ma-pullback-provide-next-opportunity/

 

[Elliottwave-Forecast]

Short Term Elliott Wave View in USDJPY suggests decline to 139.57 ended wave (W). Pair then corrected in wave (X) with internal subdivision as a double three Elliott Wave structure. Up from wave (W), wave ((w)) ended at 142.46 and pullback in wave ((x)) ended at 140.43. Rally in wave ((y)) ended at 143.94 which completed wave W in higher degree. Pullback in wave X ended at 141.73 with internal subdivision as a zigzag structure.

Up from wave X, pair resumed higher in wave ((w)) towards 144.68 and pullback in wave ((x)) ended at 142.88. Final leg wave ((y)) ended at 146.48 which completed wave Y of (X) in higher degree. Pair has since turned lower in wave (Y). Down from wave (X), wave (i) ended at 142.76 and wave (ii) ended at 143.76. Wave (iii) lower ended at 142.2, and wave (iv) ended at 142.95. Wave (v) lower ended at 141.63 which completed wave ((a)) in higher degree. Rally in wave ((b)) is in progress to correct cycle from 9.27.2024 high before it resumes lower. Near term, as far as pivot at 146.48 high stays intact, expect rally to fail in 3, 7, or 11 swing for more downside.

USDJPY 60 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/news/intraday-elliott-wave-view-favors-downside-usdjpy/

 

[Elliottwave-Forecast]

Hello Traders! In this technical blog, we will follow up on the past performance of iShares 20+ Year Bond ETF ($TLT) forecast. We will also review the latest 4H count and explain why the ETF should remain supported.

$TLT 4H Elliott Wave View – August 26, 2024:​

In our last article, we explained that $TLT was showing a bullish sequence from Oct 2023 low due to the 5 waves impulse. We also suggested that a a break above black ((1)) at $100.57 will confirm that the next leg higher has started.

$TLT 4H Elliott Wave View – September 30, 2024:​

The latest 4H update is showing a break above black ((1)) at $100.57. As a result, the structure has opened a bullish sequence towards $106 – 110 area. The cycle from July 2024 at blue (2) ended and a pullback to correct it is unfolding in 3 or 7 swings. We like to wait for a connector and another leg lower to buy the dip in 3 swings against the July low.

Source: https://elliottwave-forecast.com/vi...-etf-tlt-pullbacks-expected-remain-supported/

 

[Elliottwave-Forecast]

Short Term Elliott Wave View in Dollar Index (DXY) suggests that decline to 100.2 ended wave 1. Rally in wave 2 is in progress as an expanded flat Elliott Wave structure. Up from wave 1, wave (a) ended at 101.14 and pullback in wave (b) ended at 100.91. Wave (c) higher ended at 101.47 which completed wave ((a)) in higher degree. Wave ((b)) dips takes the form of a double three Elliott Wave structure. Down from wave ((a)), wave (w) ended at 100.4 and wave (x) ended at 101.23. Wave (y) lower ended at 100.15 which completed wave ((b)) in higher degree.

The Index has turned higher in wave ((c)). Up from wave ((b)), wave (i) ended at 100.54, and pullback in wave (ii) ended at 100.18. Wave (iii) higher ended at 101.39 and pullback in wave (iv) ended at 101.15. Expect the Index to extend higher 1 more leg in wave (v) to finish wave ((v)) of 2 in higher degree. Afterwards, expect the Index to resume lower. Possible target for wave (v) of ((v)) of 2 is 100% - 161.8% Fibonacci extension of wave ((a)). This comes at 101.4 - 102.1 area.

Dollar Index (DXY) 60 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/news/dollar-index-dxy-looking-flat-elliott-wave-correction/

 

[Elliottwave-Forecast]

Hello traders, welcome to another 'Blue Box' blog post, where we review past trades taken by Elliottwave-Forecast members for educational purposes. In this post, we’ll discuss a recent trade setup on META.

Meta Platforms, formerly Facebook, is a tech company focused on building the "metaverse." It owns Facebook, Instagram, and WhatsApp, and develops virtual reality (VR) and augmented reality (AR) products. $META is one of the 26 instruments we cover for members in Group 2.

After a significant decline of over 77% from its July 2021 record high, the stock has since delivered one of the best gains in the past two years. From the January 2023 lows, it has surged around 500% in a clear bullish sequence. When price is trending in a bullish sequence, we prefer buying dips in 3, 7, or 11 swings. Conversely, in a bearish sequence, we focus on selling bounces within the same 3, 7, or 11 swing corrective structure. This way, we align our trades with the dominant market direction.

Moreover, we mark potential trade zones with the Blue Box on our charts, which guides members on where to enter trades and place stop losses, ensuring they follow the market's overall path effectively.

META Elliott Wave Analysis, 9.24.2024​

On 9.24.2024, we shared the META H1 chart with members. We identified a 3-swing pullback which we expected to complete within the 557.43-550.30 blue box range. We recommended traders consider buying from this blue box, placing stops below it. Additionally, we provided a trade management guide in the trading journal and live trading room.

As the chart above shows, traders went long from the blue box. Shortly afterward, the price reacted and separated from the blue box to a risk-free area.

META Elliott Wave Analysis, 10.02.2024​

On 10.02.2024, we shared the chart above with members, highlighting how far the price has moved away from the blue box. The chart also indicates that the impulse wave sequence is likely incomplete. From wave ((iv)), the price is expected to rally in wave ((v)) to complete wave (3). Afterward, a pullback for wave (4) should occur, and we can consider buying again if the pullback meets our entry criteria.

Source: https://elliottwave-forecast.com/stock-market/meta-extends-recovery-blue-box/

 

[Elliottwave-Forecast]

Short Term Elliott Wave View in EURUSD suggests that cycle from 4.16.2024 low is in progress as a 5 waves impulsive Elliott Wave structure. Rally to 1.12 ended wave (3) of the impulse. Pullback in wave (4) is now in progress with internal subdivision as an expanded Flat structure. Down from 8.26.2024 high, wave A ended at 1.10. Rally in wave B unfolded as a double three Elliott Wave structure. Up from wave A, wave ((w)) ended at 1.1189 and pullback in wave ((x)) ended at 1.1065. Wave ((y)) higher ended at 1.1213 which completed wave B.

The pair turned lower in wave C with subdivision as a 5 waves impulse. Down from wave B, wave ((i)) ended at 1.1119 and rally in wave ((ii)) ended at 1.1209. Internal subdivision of wave ((ii)) unfolded as a double three where wave (w) ended at 1.1189 and wave (x) ended at 1.1122. Wave (y) higher ended at 1.1209 which completed wave ((ii)). Pair resumed lower in wave ((iii)) towards 1.1043 and wave ((iv)) ended at 1.1082. Expect wave ((v)) of C of (4) to complete soon and pair to turn higher in 3 waves at least.

EURUSD 60 Minutes Elliott Wave Chart​

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Source: https://elliottwave-forecast.com/news/eurusd-looking-expanded-flat-elliott-wave-correction/

 

[Elliottwave-Forecast]

MicroStrategy (NASDAQ: MSTR) is one of the top performing stocks in recent two years. In our previous article, we explained the impulsive structure taking place since 2022 low. In this article, we’ll take a look at the potential targets to the upside based on the Elliott Wave Theory.

MSTR started is major bullish cycle in 2002. Since then, the stock is currently showing a 3 waves to the upside and it's still expected to finish a 5 waves advance before a major correction takes place. The recent peak in March 2024 is proposed to be a wave III which is followed by a sideways price action in a triangle wave IV. As long as the stocks holds above September 2024 low $113.69 then it's expected to continue the rally higher within a wave V.

The initial weekly target area for 5th wave comes at the inverted Fibonacci levels of wave IV and it's suggest the area of $222 - $260 to end the cycle. Alternatively, MSTR could extend further beyond that area and look for the equal legs area of the 2024 connector. In that case a higher target at $287 - $331 can be seen before the next correction takes place.

The overall technical structure for MSTR is bullish and suggesting more upside within the weekly cycle. Therefore we don't recommend selling the stock and we only suggest buying the pullbacks in 3 , 7 or 11 swings within daily cycle.

MSTR Weekly Chart 10.03.2024​

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Source: https://elliottwave-forecast.com/stock-market/microstrategy-mstr-weekly-upside-target/

 

[Elliottwave-Forecast]

Caterpillar Inc., commonly known as CAT, is a leading American manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Caterpillar operates globally and is known for its extensive product line, which includes machinery like bulldozers, excavators, wheel loaders, and haul trucks. Below we will look at the long term Elliott Wave outlook of the company.

Caterpillar Quarterly Elliott Wave Chart​

Quarterly Elliott Wave chart of Caterpillar above (CAT) shows that the stock extended higher strongly within wave (III). The subdivision of wave (III) is unfolding as a nesting 5 waves impulse. Up from wave (II), wave I ended at 173.24 and dips in wave II ended at 87.50. The stock nested higher in wave III with wave ((1)) ended at 246.69 and pullback in wave ((2)) ended at 160.60. Stock should continue to extend higher and dips to find support in 3, 7, 11 swing as the stock continues to extend higher in impulsive structure.

Weekly Caterpillar (CAT) Elliott Wave Chart​

Weekly Elliott Wave Chart of Caterpillar (CAT) above shows that pullback to 160.6 ended wave ((2)) on September 26, 2022. Stock has resumed higher in wave ((3)) with internal subdivision as an impulse. Up from wave ((2)), wave (1) ended at 266.04 and pullback in wave (2) ended at 204.04. Stock rallied higher as a nesting impulse. Wave 1 ended at 293.88 and wave 2 dips ended at 223.76. Wave 3 higher ended at 382.01 and pullback in wave 4 ended at 307.05. Expect the stock to continue to extend higher in the impulsive structure.

Source: https://elliottwave-forecast.com/vi...-higher-within-a-wave-ii-target-above-600-00/