Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

XRP/USD Elliott Wave Forecast: Correction Before the Next Leg Higher​

The Elliott Wave analysis on XRP/USD suggests a strong bullish trend, with a clearly defined five-wave impulsive structure. The chart begins with a corrective wave ((2)), marking the end of a prior bearish cycle. From there, the market initiated a new bullish sequence, forming an impulsive wave (1) and a corrective wave (2), which set the foundation for the uptrend. The strong rally in wave (3) subdivided into five smaller waves, confirming bullish momentum. Then followed by a wave (4) correction, forming a contracting triangle labeled A-B-C-D-E. This consolidation suggested a continuation of the trend once completed. After breaking out from the triangle, the final wave (5) pushed higher, completing the full five-wave sequence in wave ((3)) following deep and a sharp correction in ((4)).

Currently, XRP is in a corrective wave (2) of a higher-degree impulse ((5)). The structure follows an A-B-C pattern, with wave A initiating the decline, wave B forming a temporary bounce, and wave C completing the correction. The invalidation level is at 1.77331, meaning the bullish outlook remains intact as long as prices stay above this level. The Turning Up tag suggests that the correction may be near completion, and a new impulsive advance could follow.

4-Hour Elliott Wave Counts​

Despite the bullish trend, traders are advised to avoid buying at this stage, as indicated by the "We Do Not Recommend Buying" warning. A confirmation of trend continuation, such as a break above recent highs, would provide better entry opportunities. As long as XRP remains above 1.77331, the long-term bullish structure stays valid. However, patience is necessary, as corrective waves can be volatile before the next impulsive move begins. If the analysis holds, XRP could target higher levels beyond 3.00 USD in the coming weeks.

Source: https://elliottwave-forecast.com/cr...lish-trend-remains-intact-despite-correction/

 

[Elliottwave-Forecast]

Berkshire Hathaway (BRK.B) Elliott Wave Update: Bullish Outlook with a Clear Invalidation Level​

Berkshire Hathaway (BRK.B) continues to present a strong bullish setup from an Elliott Wave perspective. Our analysis across multiple timeframes suggests that the stock remains in a larger impulsive cycle, with recent price action confirming the expected wave structure. Below, we will examine both the daily and hourly charts to provide a comprehensive outlook on the current trend.

On the daily chart, BRK.B is advancing within a five-wave impulse. The recent pullback aligns with a completed Wave 4, which took the shape of a contracting triangle. A strong bounce from the invalidation level near $259.70 suggests Wave 5 is now in progress.

Daily Elliott Wave Counts:​

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Wave 3 showed strong momentum and extended well beyond Wave 1, a common trait in Elliott Wave structures. Wave 4 then formed a contracting triangle, with sub-waves ((a))-((b))-((c))-((d))-((e)) creating a consolidation phase before breaking higher. This pattern aligns with the guideline that fourth waves often correct sideways. With the breakout confirmed, Wave 5 is now unfolding and is expected to push BRK.B to new all-time highs. We continue to trade in the direction of the right-side tags and will look for further confirmations to validate the uptrend.

Currently, Wave ((ii)) has unfolded as sub waves ((a))-((b))-((c)) which formed a corrective move. As long as the price stays above $454.61, we expect further upside. Confirmation of Wave (iii) breaking higher with momentum will strengthen the bullish case.

Short-term Elliott Wave Outlook:​

With a strong bullish structure, traders should focus on long positions while managing risk. The invalidation level at $454.61 is key—if broken, the wave count will need reassessment. Until then, pullbacks offer potential buying opportunities.BRK.B remains in a clear uptrend, and we do not recommend selling. As always, patience and disciplined risk management are essential.

Source: https://elliottwave-forecast.com/st...lliott-wave-analysis-bullish-trend-continues/

 

[Elliottwave-Forecast]

Royal Caribbean Cruises Ltd (NYSE: RCL), is one of the best performing stocks in recent years with +1300% up from 2020 lows. In our previous article, we identified the initial bullish structure setting up the current rally. Likewise, we'll continue exploring the weekly path based on Elliott Wave Theory.

In 2023, we explained that RCL was in the process of creating a bullish Nest from 2020 low and it needed to break above 2021 peak to confirm the higher high sequence. A nest is a series of 1-2 and most of the time it happens before a huge move takes place resulting in an extended move. The below chart shows what a nest looks like within a third wave.

Third Wave Extension​

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RCL rallied into new all time highs after breaking above 2018 peak, as a result, it established a higher high sequence within its Grand super cycle. The stock exceeded the 1.618 Fibonacci extension level $250 which confirms the extended wave ((III)) and it supports the continuation to the upside. After that, RCL can see further extension toward $301 - $385 within a series of 4th & 5th waves.

Consequently, the current incomplete bullish sequence is still supporting the weekly rally and suggest that RCL will continue to find buyers during pullbacks in 3 , 7 or 11 swings until it ends 5 waves advance within cycle from 2020 to end wave ((III)). In conclusion, Royal Caribbean Cruises is looking for a continued upward trajectory within its weekly cycle and dips should provide valuable buying opportunities for long term investors.

RCL Weekly Chart 2.12.2025​

Source: https://elliottwave-forecast.com/stock-market/royal-caribbean-cruises-rcl-bullish-nest/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to look at the Elliott Wave charts of Tesla Stock ( TSLA ) published in members area of the website. As most traders probably know, the stock is in an overall bullish trend. However, in the short-term cycle from the 488.78 peak, the price has formed a lower lows structure. In the following text, we will explain the Elliott Wave forecast in more detail.

TSLA Elliott Wave 1 Hour Chart 01.30.2025​

Tesla stock is showing incomplete sequences in the cycle from the 488.78 peak. The break below the January 2nd low suggests that the cycle from the 488.78 peak is incomplete, indicating potential weakness in the near term. TSLA is targeting the 323.98 – 252.46 area, where we would like to be buyers again.

Let’s analyze the price structure further.
We can observe a clear 5-wave structure in the cycle from the 439.74 peak. A 3-wave bounce in the ((b)) recovery is expected. We anticipate another leg up in (c) before a decline takes place.

We do not recommend forcing trades at this stage. The strategy is to wait for the extreme zone to be reached before considering buying the stock again.

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

90% of traders fail because they don’t understand market patterns. Are you in the top 10%? Test yourself with this advanced Elliott Wave Test

TSLA Elliott Wave 1 Hour Chart 02.12.2025​

Tesla stock made another leg up in the proposed recovery, completing it at the 419.96 high. After the correction ended, the price continued to decline, reaching new lows. It is now approaching our target area of 323.98–252.46. ( buyers zone)

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/stock-market/tesla-stock-tsla-elliott-wave/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to look at the Elliott Wave charts of NIFTY Index published in members area of the website. As our members know , the Index shows incomplete sequences in the cycle from the 26281.55 peak. The price structure calls for further weakness in NIFTY. The index is targeting 21836 area, where we like to be buyers again. In the following text, we will explain the Elliott Wave forecast in more detail.

NIFTY Elliott Wave 1 Hour Chart 02.09.2025​

As mentioned earlier, NIFTY is showing bearish sequences in the cycle from the 26281.55 peak, and we expect further weakness in the index. Current Elliott Wave analysis suggests that NIFTY completed a three-wave recovery at the 23806.54 high. As long as the price remains below this level, we anticipate continued downside in NIFTY.

At this stage, we do not recommend forcing trades. The strategy is to wait for the extreme zone to be reached before considering a buying opportunity.

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

90% of traders fail because they don’t understand market patterns. Are you in the top 10%? Test yourself with this advanced Elliott Wave Test

NIFTY Elliott Wave 1 Hour Chart 02.12.2025​

The price made further separation from the 23808.4 peak and retested the previous low at 1 red. To confirm further downside within the proposed cycle, we would like to see a break below the January 27th low. A break of this level would increase the likelihood of an extension towards our target area at 21836, where we are interested in buying again.

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/stock-market/nifty-index-elliott-wave/

 

[Elliottwave-Forecast]

Hello fellow traders,

In this technical article we’re going to take a look at the Elliott Wave charts charts of EURUSD forex pair published in members area of the website. As our members know, recently EURUSD made a 3-wave pullback that completed right at the equal legs level. In the following sections, we will analyze the charts and explain the Elliott Wave forecast.

EURUSD Elliott Wave 1 Hour Chart 02.07.2025​

EURUSD ended cycle from the 1.0205 low as 5 waves structure- wave ((i)) black. The pair is currently giving us pull back against the 1.0205 low. Equal legs area is already reached at 1.0320-1.0262 area. We are aware that pull back can complete any moment. Although we expect to see rally from the marked area, we don’t recommend forcing the trades at this stage.

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

EURUSD Elliott Wave 1 Hour Chart 02.07.2025​

The pair found buyers in the 1.0320-1.0262 area as expected and completed the correction at the 1.0286 low. We’d like to see a break of the ((i)) black peak to confirm further upward movement toward the 1.05129-1.05671 area.

90% of traders fail because they don’t understand market patterns. Are you in the top 10%? Test yourself with this advanced Elliott Wave Test

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-found-buyers/

 

[Elliottwave-Forecast]

AT&T Inc. (T) is an American multinational telecommunications holding company headquartered in Dallas, Texas. It is the world's largest telecommunications company by revenue and the third-largest provider of mobile telephone services in the U.S.

AT&T (T) Monthly Chart September 2024 ​

In the last monthly chart, we saw the rally that left from the blue box. The rally does not mean that T cannot resume to the downside again. To confirm that wave ((II)) is over at $13.43 low, the market needs to break above of wave ((I)) high. Until then, T could make perfectly any other structure that leads us to lower prices. At the moment, the stock is doing very well suggesting the trend is developing an impulse structure.

AT&T (T) Weekly Chart September 2024​

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Also in September, the weekly chart above showed how the wave ((5)) of c of the ending diagonal completed the structure. Wave ((II)) ended at $13.43 low and rallied looking to build an impulse higher as wave I. The first leg higher as wave ((1)) ended at $18.16 high. Wave ((2)) pullback finished at $15.94 low and resumed higher again. AT&T pushed strongly to the upside breaking the pivots of the RSI in the weekly timeframe, suggesting that the cycle from 2019 high was over. Then, we expected to build an impulse structure as the chart before seeing 3, 7 or 11 swings correction as wave II.

AT&T (T) Weekly Chart February 2025​

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After 5 months, the stock is showing a clear structure of 5 swings given the idea of the impulse structure is very possible. Wave ((3)) completed at 24.03 high and the correction as wave ((4)) ended at 21.38 low. T continued to the upside and the last EPS results better than the expectations, triggered a strong uptrend movement. Currently, we are expecting an extension structure as wave ((5)) and the market is doing wave (3) of ((5)). Once wave (3) is completed, we must see a clear pullback to called wave (4) of ((5)). Then, we expect to do a last push higher to end wave (5) of ((5)) and also wave I before seeing wave II correction. We are projecting that wave I must end in 26.44 - 28.64 area. Let see what the market give us. Trade smart!

Source: https://elliottwave-forecast.com/stock-market/att-t-stocks-bullish-investors-expect/

 

[Elliottwave-Forecast]

Pepsico ($PEP) has been in a bearish cycle since May 2023. However, the cycle is getting extreme and the sell-off may relax in the coming weeks or months. While we may not know what will trigger the buyers to find entries soon, traders should be aware of this key zone for opportunities.

PepsiCo is a global food and beverage company with the headquarters in New York. It was founded in 1965 through the merger of Pepsi-Cola and Frito-Lay. The company operates in over 200 countries and has a diverse portfolio of brands, including Pepsi, Mountain Dew, Lay’s, Doritos, Gatorade, Tropicana, and Quaker.

Pepsico is historically a profitable company since its stock went public in the 60s. However, since May 2023 the stock prices have been on a bearish cycle - down by 28%. The headlines believed the decline has been driven largely by slowing sales growth particularly on snacks and sugary drinks. This has put pressure on the company's revenue and profit margin outlook. However, from the lens of the Elliott wave theory, the decline should have been expected. A 5-wave bullish cycle evolved in March 2020 immediately after the COVID-19 sell-off. After such a 5-wave rally, 3 -wave decline should follow to correct the 5-wave cycle. That's exactly what the Pepsico stock prices have been observing since May 2023. However, this cycle appears to be closing to completion. If that is the case, the all-time bullish cycle from the all-time lows should resume.

Pepsico Elliott Wave Analysis - 02.16.2025​

The weekly chart above shows the ending waves of wave (III) of ((III)) of the all-time bullish cycle from the all-time lows. The decline from March 2023 shows a double zigzag (7-swing structure) corrective sequence entering the extreme zone for wave (IV). Within a bullish sequence, traders should look forward to go long from the dips. On the other hand, traders should look at shorting bounces in a bearish sequence. That's our idea of trading that we like presenting to members of Elliottwave-Forecast.

The chart above shows the extreme zone at 142.13-116.60. Price is within the zone but may extend lower into it with current bearish leg from January 2025. However, we can expect at least a 3-swing bounce from this zone if not an impulse recovery starting wave (V). Buyers will look at exploiting this zone for a Long opportunity with stop slightly below 116.6.

Source: https://elliottwave-forecast.com/stock-market/pepsico-may-end-bearish-cycle-soon/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of Tesla ticker symbol: TSLA. We presented to members at the elliottwave-forecast. In which, the rally from 22 April 2024 low ended in an impulse structure. But showing a higher high sequence within the cycle from January 2023 low supports more upside. 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:

TSLA 4-Hour Elliott Wave Chart From 2.09.2025​

Here’s the 4-hour Elliott wave chart from the 2.09.2025 weekend update. In which, the cycle from the 4.22.2024 low ended in wave ((3)) at $488.54 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 $373.04 low. Wave (X) bounce ended at $439.74 high and wave (Y) managed to reach the blue box area at $323.98- $252.46. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

TSLA Latest 4-Hour Elliott Wave Chart From 2.16.2025​

This is the latest 4-hour Elliott wave Chart from the 2.16.2025 weekend update. In which the stock is showing a reaction higher taking place, right after ending the double correction within the blue box area. However the bounce needs to react higher minimum towards $380.19 level to allow longs to get into a risk-free position. Later on, it would need to see a break above $488.54 high to confirm the next extension higher & avoid deeper pullback.

Source: https://elliottwave-forecast.com/stock-market/tsla-managed-reach-blue-box-buying/

 

[Elliottwave-Forecast]

After hitting a record high in December 2024, AAPL pulled back, retracing its bullish sub-cycle from January 2023. However, it has recovered more than half of the decline. The current rebound could reach a new high, but there is also a chance of a deeper double correction. In this blog post, we will explore both scenarios. We will also discuss how traders can find opportunities in either case.

Apple Inc. (AAPL) is a multinational technology company with headquarters in California. Founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne. The company’s flagship products include the iPhone, Mac computers, iPad, Apple Watch, and AirPods. Apple also operates a robust ecosystem with services like the App Store, iCloud, Apple Music, and Apple Pay. With a strong brand, loyal customer base, and continuous advancements in technology, Apple remains one of the most valuable and influential companies in the world. It is publicly traded on the Nasdaq under the ticker symbol AAPL.

AAPL has remained in a long-term bullish trend, consistently rising from dips since its inception. The latest pullback began in December 2024, dropping 15% by January 2025. However, a strong recovery has followed. AAPL could be on track for a new high, but another leg lower is still possible, given the sharp decline in December. In this post, we will explore two potential scenarios and how traders can navigate them.

AAPL Elliott Wave Analysis (1st Scenario) - 17th February, 2025.​

[caption id="attachment_955928" align="aligncenter" width="1024"] AAPL, Daily Chart[/caption]
The daily chart above outlines AAPL’s long-term path. It suggests the stock is in wave V of (I) of ((III)) from the all-time low. Within wave V, sub-waves ((1)) and ((2)) are complete, and price is now in ((3)). If this wave count is correct, wave ((3)) of V should break to a new high and extend toward $299–$323. To confirm, price must breach the top of wave ((1)) with wave (3) of ((3)). However, given the sharp pullback in wave ((2)), there is a chance of a double zigzag (7-swing structure) from the top of ((1)). This alternate scenario would slightly change the chart structure.

Due to this possibility, traders should wait for price to break above wave ((1)) before looking for buying opportunities on the next pullback. Now, let’s examine the alternative scenario.

AAPL Elliott Wave Analysis (2nd Scenario) - 17th February, 2025.​

[caption id="attachment_955931" align="aligncenter" width="1024"] AAPL, Daily Chart[/caption]
The alternative view suggests wave (I) may have completed with a I-II-III-IV-V diagonal structure, making the pullback from late December wave (II). This scenario remains valid if the current rally faces resistance below $260. In this case, buyers should wait for the end of wave C of (II), where at least a three-swing bounce is expected. We show our members the extreme zone for this purpose with the blue box on the chart.

Regardless of the scenario, we do not recommend selling AAPL. Instead, we prefer buying pullbacks—either at the end of wave (II) or after wave ((3)) is established above wave ((1)) high.
AAPL is one of 78 instruments we analyze at Elliottwave-Forecast, providing members with updates across all time frames, including H1 and 30-minute charts, multiple times daily.

Source: https://elliottwave-forecast.com/stock-market/aapl-continue-long-term-bullish-cycle/

 

[Elliottwave-Forecast]

Intuitive Machines Inc., (LUNR) designs, manufactures & operates space products & services in the United States. Its systems & space infrastructure enable scientific & human exploration & utilization of lunar resources to support sustainable human presence on the moon. It comes under Industrial sector in Aerospace & Defense industry & trades as “LUNR” ticker at Nasdaq.

In weekly, LUNR made all time high of $136 in February-2023 & low of $2.09 low in January-2024. Above there, it favors upside in daily & can extend towards $26.73 or higher levels from 2.12.2025 low.

LUNR - Elliott Wave Latest Daily View: ​

Since January-2024 low, it is showing 3 swing sequence higher. It placed ((1)) at $13.25 high on 2.21.2024 high & ((2)) at $3.15 low on 8.05.2024 low. ((2)) was dip pullback as zigzag correction. Above there, it ended ((3)) at $24.95 high as extended sequence. Within ((3)), it placed (1) at $6.12 high, (2) at $4.50 low, (3) at $22.32 high, (4) at $15.86 low & (5) at $24.95 high. It proposed ended ((4)) correction at $17.57 low. Within ((4)) pullback, it placed (A) at $20.05 low, (B) at $23.89 high & (C) as ((4)) at $17.57 low in extreme areas as 3 swing correction.

Above $17.57 low, it expects continuation in ((5)) & extend towards $26.73 - $29.56 area to finish I from January-2024 low. Currently, it favors upside in (1) of ((5)) & expect 5 swings higher to finish it before it should pullback in (2). Further upside in ((5)) will confirm above $24.95 high. Once it finished the I sequence, it should pullback in II in 3, 7 or 11 swings pullback. Alternatively, it can see at least 3 swing bounce as connector from 2.12.2025 low before doing double three structure in ((4)), if breaks below $17.57 low. In either the case, it expects short term bounce from $17.57 low from extreme areas.

Source: https://elliottwave-forecast.com/stock-market/lunr-intuitive-machines-favors-rally-towards-26-73/

 

[Elliottwave-Forecast]

Indraprastha Gas Ltd (IGL) Shows a Promising Elliott Wave Setup, Indicating a Strong Bullish Trend with Clear Invalidation Levels​

Indraprastha Gas Ltd (IGL) displays a promising long-term bullish setup from an Elliott Wave perspective. The price action shows a clear impulsive structure over the years, supported by corrective phases that align with Elliott Wave principles. Below is an analysis of the chart to provide clarity on the current and future trajectory.

Primary Elliott Wave Analysis:​

IGL has been progressing in a five-wave primary cycle since its inception. The initial cycle marked as Wave I concluded near 2010, followed by a corrective Wave II. This Wave II was a complex correction, setting the foundation for an explosive Wave III. True to Elliott Wave theory, Wave III extended significantly, demonstrating strong momentum and breaking to higher levels. Wave IV then followed, forming a corrective phase with more subdued price action. This was consistent with the guideline that fourth waves often form sideways or complex corrections compared to the sharper Wave II. Finally, Wave V completed the larger primary impulse cycle, pushing IGL to a significant high.

Current Structure and Outlook:​

The recent correction appears to be part of a larger degree Wave (IV), completing a flat correction labeled as a-b-c. Wave c of (IV) terminated near a critical support level at INR 151.88 within the blue box and found buyers in that area. A strong upward reaction from this zone signals the beginning of Wave (V). Wave (V) is expected to unfold impulsively, targeting new all-time highs. The bullish structure remains valid as long as the price stays above the invalidation level. Early signs of Wave ((1)) within (V) are emerging, confirming the resumption of the uptrend.

We prefer trading in the direction of the green Right Side tags, aligning with the higher-degree bullish trend. The blue box area offered an ideal long entry for aggressive traders, while conservative participants may wait for additional confirmations such as a break of the b-wave high. Importantly, we do not recommend selling against the prevailing trend.

Source: https://elliottwave-forecast.com/stock-market/indraprastha-gas-ltd-igl-bullish-elliott-wave-outlook/

 

[Elliottwave-Forecast]

Hello Traders! In today’s update, we’ll analyze the latest price action of Modine Manufacturing Co. ($MOD) using Elliott Wave Theory. The ongoing pullback has now taken out key RSI pivots, confirming that Wave III of the cycle has ended. Currently, the stock is correcting in a Zig-Zag (ABC) pattern, approaching a critical support zone where buyers have historically stepped in. Let’s break down the key developments.

5 Wave Impulse Structure + ABC correction​

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

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$MOD Weekly Elliott Wave View February 18th 2024:​

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Wave III Complete – Zig-Zag Correction in Progress​

Since our last update, $MOD has continued to decline, confirming that Wave III has ended, and the market is now unfolding a corrective Wave IV. This pullback follows a Zig-Zag (ABC) structure, a common Elliott Wave pattern seen in market corrections.

Here's how the structure has developed so far:

1. Wave (A) initiated the first leg lower, signaling the beginning of the correction.
2. Wave (B) provided a temporary bounce before failing to sustain upside momentum.
3. Wave (C) has now extended into extreme areas, aligning with previous support zones.

Key Support Levels – Buyers Looking to Step In​

The current decline is retesting a crucial support line, where previous waves 4, (4), and ((4)) found buyers. This area has historically provided strong demand, making it a high-probability reversal zone.

• Retesting Previous Wave 4, (4), and ((4)) Support: This zone has proven to be a key buying region in past cycles.
• RSI Pivot Break: The recent breakdown in RSI confirms that Wave III has ended, increasing the likelihood that this is a corrective phase rather than a trend reversal.
• Seller Exhaustion Nearing: As price approaches extreme areas, sellers may begin to weaken, allowing buyers to step in and initiate a reversal.

What’s Next? A 3-Wave Bounce to Correct the Decline​

As $MOD tests major support, we are entering a critical phase. Sellers are likely nearing exhaustion, while buyers will attempt to regain control.

• A 3-wave bounce is expected to correct the decline from the January 20 peak.
• If buyers step in at current levels, the next upside move could take the stock back to key resistance levels before the broader trend resumes.

Traders should watch for bullish reactions at support, as this could mark the beginning of the next significant move higher.

Key Takeaways for Traders​

✅ Wave III is confirmed complete, and a corrective Zig-Zag (ABC) is in progress.
✅ The pullback has reached extreme areas, retesting major support zones.
✅ Sellers are losing momentum, and buyers are likely preparing to step in.
✅ A 3-wave bounce is expected, offering a potential recovery opportunity.

Conclusion​

Modine Manufacturing Co. ($MOD) has entered a critical juncture as its Zig-Zag correction approaches key support. With RSI pivots taken out and sellers nearing exhaustion, traders should watch for buying activity in this area. A 3-wave bounce could be the next move, providing an opportunity for bullish traders to capitalize.

Stay tuned for further updates as we track this potential reversal. Happy trading!

Source: https://elliottwave-forecast.com/vi...st-zig-zag-correction-reaches-extreme-levels/

 

[Elliottwave-Forecast]

Hello traders ! In this technical article, we’re going to take a quick look at the Elliott Wave charts of the S&P 500 E-Mini (ES_F Futures) , published in the members area of the website.

As our members know, $ES_F recently pulled back and found buyers at the equal legs area. The main outlook remains bullish. Here’s our Elliott Wave Forecast and what to expect next.

ES_F Elliott Wave 1 Hour Chart 02.02.2025​

$ES_F has made a clear five-wave decline from the peak—((a)) in black—followed by a three-wave bounce in ((b)), as expected. Since the decline unfolded in 5 waves, we assume ES_F completed only the first leg of a deeper Zig Zag pattern. As long as the price remains below the 6148.21 peak, $ES_F is likely now in the final ((c)) leg of the correction. We expect the decline toward the 5935–5884 area to complete wave 2 (red) before the larger trend resumes.

90% of traders fail because they don’t understand market patterns. Are you in the top 10%? Test yourself with this advanced Elliott Wave Test

ES_F Elliott Wave 1 Hour Chart 02.14.2025​

ES_F made another leg down, following a 5-wave structure toward the extreme zone. It found buyers and turned higher as expected. Now, we’d like to see a break above the January 24th peak, which will confirm further extension to the upside. The futures should ideally remain supported as long as the pivot at the 5935 low holds.

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/stock-market/sp-500-e-mini-es_f-elliott-wave-3/

 

[Elliottwave-Forecast]

The GraniteShares Gold Trust ( NYSEARCA: BAR ) is one of the lowest-cost, physically-backed gold ETFs on the market. Gold price keeps rising into new all time highs as demand for physicals shining metals surges, therefore, we’ll be looking at the weekly Elliott Wave structure within the cycle.

BAR is currently showing an impulsive 3 waves move into new all-time highs which we consider as an incomplete bullish sequence missing 2 more swings before ending the entire cycle. Wave I peak was in 2020 and it did a 3 waves pullback in wave II into our buying Blue Box area $16.53 - $14.05. The ETF rallied from there within a new impulsive structure and it's already showing 5 waves advance within the cycle from 2022 low.

In addition, BAR reached the target area for wave III around the Fibonacci extension area $27 - $30.4, as a result, it will be looking for a correction to take place in wave IV after ending the current cycle which can still extend if it erases the weekly divergence and closes above $30.47.

In conclusion, GraniteShares Gold Trust ( BAR ) remains bullish within all time frames and we expect it to continue the rally to the upside. Consequently, we don't recommend selling the ETF and we only favor buying the next pullback in 3, 7 or 11 swings when it happens.

BAR Weekly Chart 2.20.2025​

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Source: https://elliottwave-forecast.com/video-blog/graniteshares-gold-trust-bar/

 

[Elliottwave-Forecast]

Palantir Technologies (PLTR), Inc. is a holding company, which engages in the development of data integration and software solutions. It operates through the Commercial and Government segments. The firm offers automotive, financial compliance, legal intelligence, mergers and acquisitions solutions.

PALANTIR (PLTR) Daily Chart February 8th 2025​

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This is the last chart updated a couple days ago. The rally continued as we expected and the market resumed the bullish trend to build wave V with the last earnings announcement. The movement was showing 3 waves up and we were waiting for wave ((4)) of V before it continues higher. Also we suggested that, as long as we don’t see that wave ((4)), the price could continue to rise without any problem, but if you see the correction it is an opportunity to buy to continue the trend in wave ((5)) of V and wave (III). We were managing a target price of $127 to end the cycle.

PALANTIR (PLTR) Daily Chart February 20th 2025​

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Palantir (PLTR) has suffered a sharp drop in its share price recently, losing more than 20% in two days. The Defense Budget proposal and other factors suggest that the company is going to sell 10 million shares until September. The only clear point is that we finished wave (III) at 125.41, it could not reach 127. The correction stopped at the 23.6% retracement of wave (III), which means that wave (IV) might have already finished. If that is the case, then the price action should continue bullish towards 132.61 - 144.04 area to complete wave I of (V). If wave (IV) has not finished yet, then it may drop to around 80 before continuing higher. For now, we will expect to resume with the up trend of the market. Trade Smart!

Source: https://elliottwave-forecast.com/stock-market/palantir-pltr-strong-pullback-bull-yet/

 

[Elliottwave-Forecast]

Hello traders. Welcome to a new blog post discussing about the blue box. In today's post, the spotlight will be on the PepsiCo ($PEP) stock price. The stock found support at the extreme last week. What next for traders?

PepsiCo is a global food and beverage company with the headquarters in New York. It was founded in 1965 through the merger of Pepsi-Cola and Frito-Lay. The company operates in over 200 countries and has a diverse portfolio of brands, including Pepsi, Mountain Dew, Lay’s, Doritos, Gatorade, Tropicana, and Quaker.

Despite the sell-off from May 2023, the PepsiCo stock remains within the all-time bullish cycle. Many times, within the bullish sequence, the price pulls back to give buyers the opportunity to buy lower and sell higher for profit. That appears to be the case for $PEP. The decline from May 2025 marked the wave (IV) of the supercycle degree within the bullish cycle from the all-time low. On 16th February 2025, we shared an article titled ''PepsiCo May End The Bearish Cycle From 2023 Soon''. In the article, we used the chart below to identify the extreme area for wave (IV). The blue box on our charts show members where to buy within a bullish sequence and where to sell within a bearish sequence.

PepsiCo Weekly Chart 16th February, 2025​

We identified 142.13-116.60 as the blue box where we expected wave (IV) to finish after a 7-swing structure. Afterwards, wave (V) should begin. If not a bullish impulse wave reaction, at least a 3-swing bounce should ensue from this extreme area. The chart below shows the price's response after about a week.

PepsiCo Weekly Chart 22th February, 2025​

The stock found support at the blue box just as expected. Thus, price bounced off the entrance of the blue box - barely at the 142.13 proposed entry level. While price holds above 116.60, it should separate further from the blue box. When the rally reaches 162.53, traders should consider closing half of the trade in profit and adjust the rest of the position to breakeven. Until 162.5, buyers from the blue box should continue to hold the long, while keeping the stop at 116. Therefore, the upside appears to be favored in the short and long terms.

Source: https://elliottwave-forecast.com/stock-market/pepsico-finds-support-blue-box/

 

[Elliottwave-Forecast]

BYD Company Limited (ticker: 1211.HK on the Hong Kong Stock Exchange) is a Chinese multinational powerhouse headquartered in Shenzhen. Initially a battery maker, it became the world’s top producer of plug-in electric vehicles by 2022, surpassing Tesla with over 3 million new energy vehicles sold by 2023, thanks to hits like the affordable Dolphin and its innovative Blade Battery. The stock has recently broken to new all-time high within wave III. Below we will take a look at the long term Elliott Wave path.

BYD Monthly Elliott Wave Chart​

Monthly Elliott Wave Chart of BYD above shows the stock extends to new all-time high within wave (III). From all-time low, the stock rallied impulsively in 5 waves where wave I ended at 88.4 and pullback in wave II ended at 10.92. The stock then rallied higher in wave III towards 324.6 and pullback in wave IV ended at 165. Final wave V higher ended at 333 which completed wave (I) in higher degree. Pullback in wave (II) ended at 161.7 and the stock is now rallying in wave (III) higher. As far as pivot at 161.7 low holds, expect pullback to find support in 3, 7, 11 swing for more upside.

BYD Daily Elliott Wave Chart​

Daily Elliott Wave Chart of BYD above shows the stock is rallying higher within wave (III). Wave (I) ended at 333 and pullback in wave (II) ended at 161.7. Up from there, wave I ended at 280.6 and pullback in wave II ended at 167.80. The stock then resumed higher in a nest. Up from there, wave ((1)) ended at 320.8 and wave ((2)) ended at 245.4. Expect the stock to extend a few more highs to complete wave ((3)), then it should pullback in wave ((4)) to correct cycle from 1.13.2025 low before it resumes higher. Near term, as far as pivot at 161.7 low stays intact, expect pullback to find support in 3, 7, 11 swing for more upside.

Source: https://elliottwave-forecast.com/stock-market/byd-company-limited-1211-hk-breaking-wave-3/

 

[Elliottwave-Forecast]

Hello traders ! In this technical article, we’re going to take a quick look at the Elliott Wave charts of GOLD (XAUUSD ) , published in the members area of the website.

As our members know, XAUUSD has been showing impulsive bullish sequences in the cycle from 2579.36. We continue to favor the long side in this commodity. Recently, GOLD pulled back and found buyers at the equal legs area.

GOLD (XAUUSD) Elliott Wave 1 Hour Chart 02.21.2025​

GOLD remains bullish as long as it holds above the 2863.42 pivot in the first degree. Currently, it is showing three waves down from the peak, reaching the extreme zone at 2919.6–2900.83. We expect buyers to step in at this area, leading to either a continuation toward new highs or at least a three-wave bounce.

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GOLD (XAUUSD) Elliott Wave 1 Hour Chart 02.21.2025​

GOLD is showing us nice reaction from the equal legs area (2919.6–2900.83) . The commodity completed 3 waves down at the 2917.16 low. As expected, buyers stepped in, pushing prices higher. Now, we’d like to see a break above the February 20th peak to confirm further upside extension. A break above this level would open the door for a potential move toward the 2994.7+ area.

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/co...liott-wave-forecasting-rally-equal-legs-area/

 

[Elliottwave-Forecast]

NextEra Energy, Inc., (NEE) through its subsidiaries generates, transmits, distributes & sells electric power to retail & wholesale customers in North America. The company generates electricity, through wind, solar, nuclear, natural gas & other clean energy. It comes under Utility sector & trades as “NEE” ticker at NYSE.

As shown in the last article, NEE ended ((W)) at $65.89 low & bouncing in ((X)) in 7 or 11 swings. It favors bounce in (Y) of ((X)), while dips remain above $67.53 low to extend towards $75.77 or higher levels.

NEE - Elliott Wave Latest Weekly View: ​

In Weekly, it ended ((I)) sequence at $93.73 high in December-2021. Below, it ended ((II)) at $47.15 low in October-2023 as double three correction. Above ((II)) low, it ended I impulse at $86.10 high in September-2024. Within I, it placed ((1)) at $64.59 high, ((2)) at $53.95 low, ((3)) at $80.47 high, ((4)) at $68.97 low & finally ((5)) at $86.10 high. Below I high, it favors double three correction in II against October-2023 low before rally continues.

NEE - Elliott Wave Weekly View From 1.13.2025: ​

It ended ((W)) at $65.89 low as expected from extreme areas discussed in last article. Within ((W)), it placed (W) at $72.69 low, (X) at $79.38 high & (Y) at $65.89 low. Currently, it favors bounce in ((X)) as proposed double three correction against September-2024 high. Within ((X)), it placed (W) at $74.05 high & proposed ended (X) at $67.53 low. Above there, it favors upside in (Y), which extend towards $75.77 - $80.85 area to finish ((X)) before it may turn lower in ((Y)) of II. (Y) will confirm above $74.05 high. If it breaks below $67.53 low, it can extend (X) before turning higher.

Source: https://elliottwave-forecast.com/stock-market/nextera-energy-nee-bounce-towards-75-77/