Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

IWM barely breached the November 2021 high before a significant pullback followed. However, the larger bullish cycle should resume in the coming weeks while current pullback ends above 161.69 pivot point. Where should buyers look for the next opportunity?

The iShares Russell 2000 ETF (IWM) is one of the most widely traded exchange-traded funds (ETFs) that tracks the performance of the Russell 2000 Index. This index represents the smallest 2,000 companies in the broader Russell 3000 Index, focusing on small-cap U.S. companies

IWM is bullish on both the weekly and daily charts against the March 2020 and October 2023 lows respectively. Despite the current pullback from the November 2024 high, the ETF remains in a clear bullish trend. Before this pullback, prices completed a corrective cycle in October 2023 after a 5-wave bullish sequence that spanned March 2020 to November 2021. The bullish move from October 2023 is forming a 5-wave sequence that should surpass the November 2021 high. While the 3rd wave of this sequence broke above the November 2021 peak, the 5-wave structure is not yet complete. Thus, the current pullback from the November 2024 high likely represents wave ((4)).

In long-term bullish trends like this, pullbacks often present favorable buying opportunities. In contrast, during bearish trends, sellers target the extremes of rallies. Buyers should wait for wave ((4)) to reach its extreme before entering long positions. The pullback from the November 2024 high appears incomplete. Where will wave ((4)) find its bottom and invite new bids?

IWM Daily Chart Updated on 12.01.2024​

As the daily chart above shows, IWM is evolving lower with a double zigzag (7-swing) structure. Wave (W) of ((4)) ended on 20.12.2024, followed by wave (X) on 06.01.2025. Although wave (X) appears shallow, the break below the wave (W) low confirms that wave (Y) is in progress. Wave (X) acts as the connector within the double zigzag. As long as the 227.17 level (wave (X) high) remains intact, wave (Y) should continue lower toward the 198.65–181.06 Fibonacci extreme. At this zone, wave ((4)) is expected to complete, and wave ((5)) should begin. Buyers will likely focus on this area for new opportunities.

Why can't we sell now?

Of course, you may be wondering, "Why not sell now?" While we expect the dip in wave (Y) to reach the extreme area, the probability of this playing out exactly as forecast is less than 50%. Price could take an alternative path and complete the pullback at a different extreme. However, if the dip does extend as expected, there is at least a 70% chance that a 3-swing bounce will occur at the projected extreme area.

This high probability is supported by two key reasons:

1. The bullish overall trend: Institutional buyers often take advantage of dips in a bullish market to buy low and sell high, just as they sell into bounces in a bearish market to maximize profits.
2. Historical patterns in pullbacks: More than 70% of the time, 3- or 7-swing pullbacks/bounces in bullish or bearish sequences react strongly near the equal leg zone (100-138.2%).

We will closely monitor IWM’s price action for Elliottwave-Forecast members in the coming days across all time frames. When a buy setup emerges, we ensure our members don’t miss the opportunity.

Source: https://elliottwave-forecast.com/stock-market/where-should-buyers-expect-iwm-long/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of EURUSD , published in members area of the website. As our members know, EURUSD is still trading within the cycle from the September’s peak. Recently, we saw a 3-wave recovery, followed by a decline toward new lows as expected. In the further text, we are going to explain the wave count.

EURUSD H1 New York 01.07.2025​

The current view suggests that EURUSD pair completed a 3-wave recovery at 1.0437 peak , labeled as wave ((ii)) black. A sharp drop followed from this high, appearing impulsive . We have labeled this short-term cycle as wave i red. As far as the price stays below 1.0437 high, we believe next leg down can be in progress. We expect EURUSD to continue finding intraday sellers in 3, 7, and 11 swings

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

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EURUSD H1 Weekend update 01.11.2025​

The 1.0437 high held as expected. We got a decent decline when the price broke toward new lows, confirming wave ((iii)) is in progress. We don't recommend buying the pair yet, and expect to see further weakness in upcoming days.

Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room

Reminder for members: Our chat rooms in the membership area are available 24 hours a day, providing expert insights on market trends and Elliott Wave analysis. Don’t hesitate to reach out with any questions about the market, Elliott Wave patterns, or technical analysis. We’re here to help.



Source: https://elliottwave-forecast.com/forex/eurusd-elliott-wave-forecasting-decline/

 

[Elliottwave-Forecast]

Hello Traders! In today’s update, we’ll revisit the Elliott Wave structure of Modine Manufacturing Co. ($MOD) and provide insights into the next phase of its price action. You can check the last article here. As anticipated, the 5-wave impulsive cycle from May 2023 has concluded, and a corrective pullback has begun. This pullback presents a potential buying opportunity in the coming weeks. Let’s break it down.

5 Wave Impulse Structure + ABC correction​

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$MOD Weekly Elliott Wave View November 25th 2024:​

$MOD Weekly Elliott Wave View January 13th 2025:​

Since our last update, $MOD has confirmed the completion of wave (5) within the broader wave ((3)). The stock has now entered a corrective phase, consistent with Elliott Wave Theory. Here’s how the structure is unfolding so far:

1. The first leg lower, labeled wave (A), has already formed, marking the initial phase of the pullback.
2. This was followed by a bounce in wave (B), which appears to have concluded.
3. The stock is now likely entering wave (C) of the larger wave ((4)) correction, which should target the Blue Box area at $94.23–$72.73.

Blue Box Area: A Key Buying Opportunity​

The Blue Box area represents a high-probability reversal zone where buyers could re-enter for the next bullish cycle. This correction, which follows the 5-wave impulse, allows the market to reset and create new opportunities for traders.

• Blue Box Target Zone: $94.23–$72.73
• Wave Structure: Corrections typically unfold in 3 swings (ABC), with wave (C) often extending into the Blue Box.

As $MOD approaches this zone, traders should closely monitor price action for signs of reversal and a resumption of the larger uptrend.

What’s Next for $MOD?​

Once wave ((4)) completes in the Blue Box area, we expect $MOD to resume its bullish trend with a rally in wave ((5)). This next impulsive move could take the stock to new highs, continuing its long-term uptrend.

However, traders should exercise patience and wait for confirmation before entering new positions. Risk management is crucial, as corrections can sometimes extend beyond expected levels.

Key Takeaways for Traders​

1. Wave Completion: Wave (5) of ((3)) has ended, and the corrective pullback in wave ((4)) is underway.
2. Current Focus: $MOD is trading lower in wave (C), targeting the Blue Box area between $94.23–$72.73.
3. Buying Opportunity: The Blue Box offers a high-probability zone for buyers to re-enter before the next bullish wave ((5)).
4. Long-Term Outlook: After completing wave ((4)), $MOD is expected to resume its larger uptrend, providing significant upside potential.

Conclusion​

The current correction in Modine Manufacturing Co. ($MOD) aligns with our Elliott Wave analysis and offers a strategic buying opportunity. As the stock approaches the $94.23–$72.73 Blue Box, traders should prepare to capitalize on the next leg of the uptrend. Stay patient, focus on risk management, and let the Elliott Wave structure guide your decisions.

Keep an eye on $MOD’s price action as it progresses toward the Blue Box, and we’ll provide further updates as the market develops. Happy trading!

Source: https://elliottwave-forecast.com/st...e-5-waves-ended-corrective-pullback-underway/