Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

Hello Traders!

Today, we’ll take a closer look at the weekly Elliott Wave structure of Caterpillar Inc. ($CAT) and discuss why the current pullback may present an upcoming buying opportunity.

5 Wave Impulse Structure + ABC correction​

$CAT Weekly Elliott Wave View February 24th 2025:​

Since the low in September 2022, $CAT has been unfolding in a 5-wave impulsive structure with a double nest. This bullish cycle peaked with wave ((3)) on November 4, 2024, marking the completion of a significant rally.

As expected after a strong impulsive move, the stock has been correcting lower in a zig-zag (ABC) structure, which is a common Elliott Wave corrective pattern. This pullback is now approaching a key Blue Box area, where buyers are anticipated to step in and initiate the next leg higher in wave ((5)).

Key Technical Levels to Watch​

• The Blue Box target zone for the correction is between $341.35 – $298.83.
• As long as price remains above $298.83, the bullish outlook remains valid.
• A confirmed reaction from this zone could set the stage for the next rally toward new highs.

Trading Strategy & Risk Management​

While we expect the stock to move lower into the Blue Box, traders should be cautious about shorting the final leg of the decline. Truncations can occur at this stage, meaning the stock may reverse earlier than expected.

Corrections can unfold in 3, 7, or 11 swings, so risk management is crucial. If $CAT bounces from the Blue Box, it may still extend lower before a sustainable rally. That’s why we recommend booking partial profits and getting risk-free once the stock reacts positively from the support zone.

Conclusion​

Caterpillar’s current pullback is nearing a critical support level. If price holds above the invalidation level at $298.83, the stock is expected to resume its bullish trend in wave ((5)). Traders should watch for buying opportunities as sellers begin to exhaust and the market sets up for another move higher.

Stay tuned for further updates and happy trading!

Source: https://elliottwave-forecast.com/vi...est-zig-zag-correction-reaches-blue-box-area/

 

[Elliottwave-Forecast]

The NASDAQ (NQ_F) remains bullish from the all-time low despite the pullback from December 2024. The pullback could present a perfect opportunity for buyers in the coming days. This blog post will address key price areas for the buyers to anticipate the next opportunity.

NASDAQ (NQ) is in an all-time bullish trend. Within this all-time bullish cycle, the index started the current bullish cycle from the low of October 2022 where it completed wave (II) and began wave (III). We reckon, as the chart below shows, that the peak of December 2024 marked the end of wave III of (III). Thus, the pullback from that high should be wave IV of (III).

Wave IV started from the peak of December 2024. In an ideal market condition, buyers anticipate going long from the extreme of pullbacks within an established bullish sequence. On the other hand, traders tend to sell at the extreme of corrective bounces within a bearish sequence. Thus, the corrective pullback from December could be another ideal setup for buyers. One of the easiest and most profitable structures to trade in this regard is the Zigzag or Double Zigzag corrective sequences.

Double Zigzag Structure in Elliott Wave Theory​

In Elliott Wave Theory, a double zigzag is a complex corrective pattern that consists of two zigzags (labeled W and Y) connected by an intervening corrective wave (labeled X). It is denoted as W-X-Y and serves to extend the duration and depth of a correction beyond a single zigzag.

Structure of a Double Zigzag (W-X-Y):​

1. Wave W – The first zigzag (A-B-C).
2. Wave X – A corrective wave that connects W and Y. It can take various forms (flat, triangle, or another zigzag).
3. Wave Y – The second zigzag (A-B-C), which typically follows the same direction as wave W.

Rules & Guidelines:​

1. Both W and Y are zigzags (A-B-C structures), meaning wave A is impulsive or leading diagonal, wave B is corrective, and wave C is impulsive or ending diagonal.
2. Wave X is typically smaller than W and Y but can sometimes be complex.
3. A double zigzag extends the correction compared to a single zigzag, often forming a deeper retracement.
4. It usually appears in corrective waves (wave 2, wave 4, or within a larger complex correction).

NASDAQ Elliott Wave Analysis: Double Zigzag Pullback for Wave IV? ​

The wave IV pullback from December is close to finishing a W-X-Y double zigzag structure. Wave ((W)) and ((X)) of IV finished on 13th January 2025 and 18th February 2025. The fast decline that follows is identified as wave (A) of ((Y)). The price might correct the decline from the February high in wave (B) of ((Y)) before dropping again in wave (C) of ((Y)) and finishing the structure.

In Fibonacci ratios, wave Y often ends within 100%-123.6% of wave W but sometimes reaches close to 161.8%. 161.8% extension within a double zigzag is very rare and in most cases will be considered an impulse or triple zigzag instead. Thus, at the blue box (20571.75-19490.64), we will expect wave (V) to begin or at least a 3-swing bounce to a risk-free area. The blue box prices should be watched. It could attract fresh bids if the price gets there.

Source: https://elliottwave-forecast.com/stock-market/nasdaq-nq-elliott-wave-forecast/

 

[Elliottwave-Forecast]

The Draft Kings, Inc. ticker symbol: DKNG is a digital sports entertainment and gaming company engaged in providing online sports betting. Online casinos, daily fantasy sports product offerings, Draft Kings Marketplace. Retail sports betting, media and other gaming product offerings. consumption. It operates through the following segments: Business-to-Consumer (B2C) and Business-to-Business (B2B). The business-to-consumer segment includes sports betting, iGaming and DFS product offerings, as well as media and other consumer product offerings. The Business-to-Business segment includes the design and development of gaming software.

DKNG Latest Weekly Elliott Wave Analysis From 2.26.2025​

As shown in the last article, DKNG ended the wave II pullback at $28.69 low. Up from there, the stock made the rally higher in a nest where wave ((1)) ended at $45.87 high. Wave ((2)) pullback ended at $35.96 low & started the wave ((3)) higher with a break above $49.57 high from March 2024. Supporting more upside extension to take place towards $$68.52- $77.94 target area next. Until than dips are expected to remain supported in 3, 7 or 11 swings looking for more extension higher.

DKNG Weekly Elliott Wave Analysis From 11.29.2024​

In weekly the super cycle degree wave (I) ended at $74.38 high and made a 3 wave pullback against all time lows within wave (II). The internals of that pullback unfolded as zigzag correction where wave cycle degree wave a ended at $39.93 low. Wave b bounce ended at $64.58 high and wave c ended at $9.78 low. Thus completed wave (II) pullback. Up from there, the stock made a 5 waves rally & ended cycle degree wave I at $49.57 high. Down from there, the stock made a 7 swings lower pullback and completed wave II pullback at $28.69 low. Near-term, as far as dips remain above $35.96 low and more importantly above $28.69 low expect stock to resume the upside.

Source: https://elliottwave-forecast.com/stock-market/dkng-returned-higher-completing-pullback/

 

[Elliottwave-Forecast]

Boyd Gaming Corp (NYSE: BYD) is a multi-jurisdictional gaming company, which engages in the management and operation of gaming and entertainment properties. In this article, we delve into the Elliott Wave analysis of BYD, uncovering bullish structure that could captivate the attention of both long-term investors and short-term traders.

The super cycle for BYD is showing an impulsive 3 waves structure into new all time highs. This is an incomplete bullish insequence supporting the upside for the stock within its long term cycle.
In addition, it's also showing 3 waves into new highs from wave IV low and looking to extend further higher within it's daily cycle before ending wave (III). After that, we expect a larger degree correction to take place in wave (IV) before resuming the rally in wave (V).

BYD Monthly Chart 2.27.2025​

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The daily bullish sequence remains in progress within wave ((3)) of V from 2022 low. It's looking for at least 1 more swing before another buying opportunity happens in wave ((4)). Consequently, we still favor buying the short term pullbacks in 3 , 7 or 11 swings against $49.43 and look for extension higher to take place before ending the entire wave (III).

BYD Daily Chart 2.27.2025​

In conclusion, the overall bullish sequence for Boyd Gaming Corp BYD will allow it to continue the move to the upside in higher time frames and as a result we recommend the longside during any corrective pullbacks for both traders and investors.

Source: https://elliottwave-forecast.com/stock-market/boyd-gaming-corp-byd-bullish-sequence/

 

[Elliottwave-Forecast]

Hello traders. Welcome to another blog post where we discuss recent trade setups from the blue box. In this post, the spotlight will be on the Bank of America, BAC with the ticker $BAC. The stock recently reached the blue box where buyers went long. How did we come about this setup and what should traders expect next?

Bank of America (BAC) is a leading U.S. financial institution, offering banking, wealth management, and corporate finance services. Its stock movements attract traders, making it a key player in market trends. BAC is still recovering from the 2008 financial crisis. After bottoming near $2.50 in May 2009, it has followed a bullish trajectory but has yet to reclaim its pre-crash high of $55 from November 2006. If the price breaks above its January/February 2022 high, a new peak could be within reach.

After recovery from the sell-off between February 2022 and October 2023, the stock has emerged into a clear bullish sequence. This bullish sequence should eventually breach the February 2022 high. Afterwards, a pullback should happen, correcting the entire bullish cycle from March 2009. However, before the expected pullback emerge, it will be interesting to know if the stock will take November 2006 high for a fresh record high. For now, we can at least expect one more 5-wave leg from the low of February 2025.

With this bias, we decided to continue to buy pullbacks in 3, 7 or 11 swing setups until the bullish cycle from March 2009 is exhausted. For Elliottwave-Forecast members, we indicate buying area with the blue box on our charts. On 6th December 2024, I made a post of the last blue box trade on this stock for that year. You can read the post by clicking. Price rebounded from the blue box to reach the expected targets. Meanwhile, shortly after price reached the target, another pullback emerged. We will discuss that below.

BAC Elliott Wave Analysis. 02.27.2025 Update​

A new pullback emerged from the high of 01.16.2025 and descended for over five weeks. We discovered a 7-swing corrective structure was emerging. Thus, we printed the blue box on the H4 chart where we advised members to go long at the first price of the box and stop a little below the last price. We shared the chart below on 02.27.2025.

[caption id="attachment_956548" align="aligncenter" width="1024"] BAC (H4). Note: The higher degree counts have been removed[/caption]
From the blue box, we expected a 5-wave recovery to challenge and eventually breach the January/February 2022 high around $50. However, if a complete recovery doesn't follow from the blue box, at least a 3-swing bounce should happen. With the 3-swing bounce, we can close half trade in profit and adjust the rest to breakeven. With that, we take some profit and take risk off the table. The chart below shows what happened next.

BAC Elliott Wave Analysis. 03.01.2025 Update ​

[caption id="attachment_956549" align="aligncenter" width="1024"] BAC (H4). Note: The higher degree counts have been removed[/caption]
The chart above shows a perfect reaction from the blue box where members went long. The sharp reaction shows a 5-wave bullish reaction is more likely to happen than not. However, at least, a 3-swing bounce has evolved above the risk-free price of 45.68. At 45.58, buyers have closed half of their position in profit and adjusted the rest to the breakeven price. This means some profit has been taken, no more risk left and there is a potential to make more profit. The coming days will be important for this stock. If the price completes a 5-wave rally from the blue box, we can reach the other target. Eventually, when the price breaches the January 2025 high, we can wait for the next 3/7/11 swing pullback and alert members to buy again from the blue box.

Source: https://elliottwave-forecast.com/stock-market/bac-rebounds-blue-box-buyers/

 

[Elliottwave-Forecast]

The VanEck Junior Gold Miners ETF (GDXJ) tracks small- and mid-cap gold and silver mining companies. Launched in 2009, it invests heavily in firms earning most of their revenue from mining or related activities. It appeals to investors seeking high-risk, high-reward exposure to precious metals. Below we will look at the Elliott Wave outlook of the ETF.

GDXJ Monthly Elliott Wave View​

Monthly Elliott Wave Chart of GDXJ shows that the ETF made major low in 2016 at 16.36. We labelled this major bottom as wave ((II)). From there, the ETF rallied higher as a nest. Up from wave ((II), wave (I) ended at 52.5 and pullback in wave (II) ended at 19.52. The ETF nested higher in wave I at 65.95 and pullback in wave II ended at 25.8. Near term, while above 16.36, expect the ETF to extend higher.

GDXJ Daily Elliott Wave View​

Daily Elliott Wave Chart of GDXJ shows dips to 25.79 ended wave II. The ETF then turned higher in wave III with internal subdivision as a 5 waves. Up from wave II, wave (1) ended at 41.16, and pullback in wave (2) ended at 30.46. The ETF resumed higher in wave (3) towards 49.13 and pullback in wave (4) ended at 40.26. Final leg wave (5) ended at 55.58 which completed wave ((1)) in higher degree. Pullback in wave ((2)) ended at 41.85 but the ETF needs to break above wave ((1)) to confirm the next leg higher has tarted. Near term, while above 25.75, expect the ETF to extend higher.

GDXJ 4 Hour Elliott Wave View​

​

4 Hour Elliott Wave Chart of Gold Miners Junior ETF (GDXJ) above shows that cycle from 9.26.2022 low ended at 55.62 as wave ((1)). Pullback in wave ((2)) unfolded as a zigzag Elliott Wave structure. Down from wave ((1)), wave (A) ended at 44.11 and wave (B) ended at 51.03. Wave (C) lower ended at 41.88 which completed wave ((2)). The ETF has turned higher in wave ((3)). Up from wave ((2)), wave 1 ended at 53.05 and pullback in wave 2 ended at 47.29. Near term, while above 41.88, expect the ETF to extend higher.

Source: https://elliottwave-forecast.com/video-blog/gold-miners-junior-etf-gdxj-resumed-rally-higher/

 

[Elliottwave-Forecast]

Coinbase Global (NASDAQ: COIN) lost 43% of it's value in the recent three months. In today's article, we'll demonstrate the Elliott Wave structure taking place within the daily cycle and we will explain the potential reaction higher that we expect to take place.

COIN is currently showing a classical case of an impulsive 5 waves advance, then it's followed by a corrective 3 waves ZigZag structure.

Impulsive 5 Waves + Corrective ABC​

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The stock rallied from September 2024 low $146 and ended the 5 waves structure in December 2024 at $352. After that, it started the corrective 3 waves pullback (A)(B)(C) with a target at equal legs area $201 - $132. That is to say, the current decline already reached the blue box area in wave (C) which is a High-frequency area where the market is likely to end the cycle and make a turn.

Consequently, COIN will bounce higher from current levels and will reach at least the 50% of the decline from wave (B). That reaction higher would take the price back initially toward $260 area which is +30% move from current lows. Likewise, if the bounce continues toward the descending trendline then it can do a +50% move higher toward $300.

COIN Daily Chart 3.3.2025​

In conclusion, Coinbase stock COIN has a bullish Elliott Wave setup taking place following the current decline. Therefore we only recommend the long side from our Blue Box area as we soon expect a reaction higher to take place this month.

Source: https://elliottwave-forecast.com/stock-market/coinbase-coin-bullish-setup/

 

[Elliottwave-Forecast]

Hello everyone! In today’s article, we’ll examine the recent performance of Consumer Discretionary ETF ($XLY) through the lens of Elliott Wave Theory. We’ll review how the rally from the August 065 2024, low unfolded as a 5-wave impulse and discuss our forecast for the next move. Let’s dive into the structure and expectations for this stock.

5 Wave Impulse Structure + ABC correction​

​

$XLY 4H Elliott Wave Chart 2.23.2025:​

In the 4H Elliott Wave count from February 23, 2025, we see that $XLY completed a 5-wave impulsive cycle beginning on August 05, 2024, and ending on December 18, 2024, at the black ((3)). As expected, this initial wave prompted a pullback. We anticipated this pullback to unfold in 3 swings first, likely finding buyers in the equal legs area between $214.27 and $200.86.
This setup aligns with a typical Elliott Wave correction pattern (ABC), where the market pauses briefly before resuming the main trend.

$XLY 4H Elliott Wave Chart 3.02.2025:​

The most recent update, from March 02, 2024, shows that The ETF traded lower as predicted. After the decline from the December peak, the ETF is finding support in the equal legs area, looking for a low.

What’s Next for $XLY?​

With the current price action, the ETF appears to be positioned for a bounce. Based on the Elliott Wave structure, we expect the ETF to find a low soon and trade higher, targeting the $226 – $229 range before another potential pullback. Therefore, it is essential to keep monitoring this zone as we approach it.

Conclusion​

In conclusion, our Elliott Wave analysis of SPDR Consumer Discretionary ETF ($XLY) suggests that it could bounce in the short term. Therefore, traders should monitor the $226 – $229 zone as the next target, keeping an eye out for any corrective pullbacks. By using Elliott Wave Theory, we can identify potential buying areas and enhance risk management in volatile markets.
Source: https://elliottwave-forecast.com/st...-xly-blue-box-area-offers-buying-opportunity/

 

[Elliottwave-Forecast]

NU Holdings Ltd., (NU) provides digital banking platform in Brazil, Mexico, Colombia, Germany, Argentina, United States & Uruguay. It offers spending solutions comprising credit & prepaid cards, mobile payment solutions & integrated mall that enables customers to purchase goods & services from various ecommerce retailers. It is based in Brazil, comes under Financial services sector & trades as “NU” ticker at NYSE.

As shown in the previous article, NU favored bounce in ((B)), which ended at $14.08 high & resume downside in ((C)). Further weakness will confirm below $10.18 low to extend towards $8.10 or lower levels to finish II.

NU - Elliott Wave Latest Weekly View: ​

It ended impulse sequence I at $16.15 high from June-2022 low. Within I sequence, it placed ((1)) at $5.88 high & ((2)) at $3.39 low as dip pullback. It ended ((3)) as extended sequence at $13.64 high in July-2024 & ((4)) as sharp pullback at $9.67 low as 0.382 Fibonacci retracement of ((3)). Finally, it ended ((5)) as diagonal sequence from August-2024 low at $16.15 high as I expected from last update.

NU - Elliott Wave Weekly View From 1.20.2025:​

Below $16.15 high, it ended ((A)) of II at $10.18 low & ((B)) at $14.08 high on 2.03.2025. Currently, it favors downside in (1) of ((C)) & expect downside before bounce in (2). It needs to break below $10.18 low to confirm the ((C)) down. It expects bounce of (2) to fail below $14.08 high to turn lower in (3). Until it breaks below $10.18 low, it can do flat structure in ((B)), if breaks above $14.08 high. In that case, the extension area for ((C)) will change accordingly. We like to buy the pullback between $8.10 – $4.40 area against June-2022 low to extend higher.

Source: https://elliottwave-forecast.com/stock-market/nu-holdings-ready-next-rally/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the Elliott Wave Charts of the Eurostoxx (SX5E) index. We presented to members at the elliottwave-forecast. In which, the rally from the 19 November 2024 low is unfolding as an impulse structure. And showed a higher high sequence with a bullish sequence stamp 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:

EUROSTOXX (SX5E) 1-Hour Chart From 2.27.2025 Update​

Here’s the 1-Hour Elliott wave chart from the 2.27.2025 NY Midday update. In which, the cycle from the 2.03.2025 low ended as an impulse structure at 5544.12 high. Down from there, the index made a pullback to correct that cycle. The internals of that pullback unfolded as Elliott wave flat structure where wave ((a)) ended at 5422.86 low. While wave ((b)) bounce ended at 5533.95 high. Then wave ((c)) managed to reach the blue box area at 5412.20 - 5336.12 equal legs area. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

EUROSTOXX (SX5E) Latest 1-Hour Chart From 3.04.2025 Update​

This is the latest 1-Hour Elliott wave Chart from the 3.04.2025 Asia update. In which the index shows a reaction higher taking place, right after ending the correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. Since then, the index has already made a new high above 5544.12 high confirming the next leg higher.

Source: https://elliottwave-forecast.com/stock-market/eurostoxx-sx5e-made-new-highs-blue-box/

 

[Elliottwave-Forecast]

Hello fellow traders,

As our members know we have had many profitable trading setups recently. In this technical article, we are going to present another Elliott Wave trading setup we got in GOLD (XAUUSD) . The commodity completed its correction precisely at the Equal Legs zone, referred to as the Blue Box Area. In the following sections, we will delve into the specifics of the Elliott Wave pattern observed and discuss the corresponding trading setup in detail.

GOLD Elliott Wave 1 Hour Chart 02.28.2025​

The current view indicates that XAUUSD is forming a wave 2 red correction. The price action shows an incomplete sequences in the decline from the peak, suggesting potentially more short term weakness. This correction is likely unfolding as an Elliott Wave Double Three pattern. We anticipate an extension toward the extreme zone at 2862.5–2820.7 area, where we are looking to re-enter as buyers.

We recommend members to avoid selling GOLD. As the main trend remains bullish, we anticipate at least a 3-wave bounce from this Blue Box area. Once the price touches the 50 fibs against the ((x)) black connector, we’ll make positions risk-free and set the stop loss at breakeven and book partial profits. On other hand, breaking below the 1.618 Fibonacci extension level at 2820 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.

GOLD Elliott Wave 1 Hour Chart 03.04.2025​

The commodity has made extension down toward Blue Box and found buyers as expected. XAUUSD is showing a decent bounce from our Buying Zone. Consequently, any long positions from the Blue Box should now be risk-free. We’ve set our stop loss at breakeven and have already secured partial profits. Now, we would like to see a break of the 1 red peak (02.24) to confirm that the next leg up is in progress.

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/trading/gold-xauusd-buying-dips-blue-box-area/

 

[Elliottwave-Forecast]

Elliott Wave analysis suggests Chevron (CVX) is extending higher in Wave (V), with bullish momentum intact and further upside potential ahead.​

Chevron Corporation (CVX) continues to show strong bullish momentum, with the Elliott Wave structure pointing to further upside as Wave (V) unfolds. In the past, the stock completed a major impulsive Wave III, followed by a corrective Wave IV. This correction took the form of a complex ((W))-((X))-((Y)) structure, which helped reset market conditions before the next bullish phase began. The completion of this correction marked a significant low, providing the foundation for a renewed rally.

At present, price action is advancing within Wave (V), which is expected to take the stock to new highs. The internal wave structure aligns with a five-wave impulsive sequence, reinforcing the strength of the ongoing uptrend. Currently, Wave ((3)) is pushing higher, confirming sustained bullish pressure. However, a temporary pullback in Wave ((4)) may develop before the final leg, Wave ((5)), completes the overall move. This short-term correction would provide traders with an opportunity to position themselves before the next major advance.

Elliott Wave Short-Term Outlook:​

On the daily timeframe, Chevron (CVX) seems to have completed a corrective pattern. The structure forms a contracting triangle in Wave (4), labeled A-B-C-D-E. This suggests the correction is over, setting the stage for a bullish breakout. The projected path indicates CVX is starting a new impulsive wave higher. This aligns with the broader Elliott Wave count.

A "Turning Up" tag reinforces the bullish outlook. It signals traders should favor long positions as the next rally begins. The invalidation level stands at $51.48. As long as the price stays above this level, further upside is expected in the coming months.



Source: https://elliottwave-forecast.com/stock-market/chevron-corporation-cvx-poised-gains-wave-v/

 

[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 Weekly Chart October 2024​

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Above we have last JNJ weekly chart updated. We can see the rally as expected ending wave (A) at 168.85 high and it was pulling back in wave (B). As minimum we were looking for an (A), (B), (C) structure to complete wave ((X)) before resuming lower in wave ((Y)). However, we cannot rule out for now that JNJ breaks above wave I developing an impulse. If that happens, it is very possible that wave II could be completed.

JNJ Weekly Chart February 2025​

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Here is the last weekly chart on JNJ. The first thing we can see is that wave (B) was very deep, even breaking below the low of wave ((W)). For this reason, the (A), (B), (C) structure we are looking for has transformed into a flat correction. This means that wave (C), which is currently trading, must build a bullish impulse. The ideal area for this impulse to end is between 166.36 - 182.27, thus completing the flat correction and the connector ((X)). We need to see a bearish reaction from this zone to consider that wave ((X)) has concluded. If so, the market should make three more downward swings to complete wave ((Y)) and the double correction as wave II. As we mentioned before, if JNJ does not show a bearish reaction in this zone, wave II could have already ended, and we would only see more upward movement

JNJ Daily Chart February 2025​

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I posted this daily chart to show you what we should expect from the impulse as wave (C) from the 140.55 low. The easiest way to see this is to expect more upside to complete wave 3. When you see a strong reaction lower, it does not mean that the cycle is complete; it means that wave 4 has started. You should look to the low of wave ((iv)) as a possible support for wave 4 and expect a new rally from there. If you see a new rally after wave 4, then wave 5 is underway. You should see 5 waves in a lesser degree to complete the impulse and the whole structure of wave ((X)). Let see what the market bring us. Trade Smart!

Source: https://elliottwave-forecast.com/stock-market/johnson-jnj-rally-might-short-lived/

 

[Elliottwave-Forecast]

QuantumScape Corporation (QS) develops and commercializes solid-state lithium-metal batteries. These batteries power electric vehicles and other applications, delivering higher energy density and faster charging compared to traditional lithium-ion batteries.

QS Weekly Chart March 2025​

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The price action of QS shares has broken a significant support level, indicating the continuation of a downward trend. Consequently, this bearish movement may represent the final phase of the current decline. Furthermore, this development sets the stage for the eventual emergence of a new bullish trend in the near future. Additionally, it reflects growing investor uncertainty, which, in turn, underscores the need to closely monitor upcoming catalysts or fundamental changes that could potentially ignite the anticipated upward momentum. Ultimately, this pivotal moment serves as a reminder of the dynamic and evolving nature of market trends.

Elliott Wave Structure​

The stock completed a cycle as wave I at a high of 132.73. Since then, everything has been trending downward. The structure has developed a series of double corrections, progressively extending lower. The main double correction is composed of ((W)), ((X)), and ((Y)). Wave ((W)) ended at 19.12, and wave ((X)) concluded at 43.08. From there, the market has been operating in wave ((Y)), extending double corrections at a lesser degree.
The next three downward swings ended at 5.11 as wave (W), while wave (X) concluded at 13.86. The subsequent double correction completed wave W at 4.92 and wave X at 9.52, continuing to the downside. In the next group wave ((w)) ended at 4.65 and wave ((x)) at 6.94. From this point, we believe it is possible that we are in the final phase of these double corrections. The market has broken out of the range taking 4.65 low. We estimate a value of around $2 to complete the bearish cycle. This would finalize the structures of ((y)), Y, (Y), and ((Y)), along with wave II. This value is derived from the 100% Fibonacci extension calculated from the levels of waves ((w)) and ((x)). Therefore, for long-term investments in this company, one could consider looking for buying opportunities as the price approaches $2 per share. Trade Smart!
Source: https://elliottwave-forecast.com/stock-market/quantumscapes-qs-shares-waiting-rally/

 

[Elliottwave-Forecast]

After completing a major Wave IV correction, 3M (MMM) is poised for a strong bullish trend as Wave V unfolds. Learn what’s next for the stock.​

3M Company (MMM) has experienced a significant corrective phase after completing a major bullish cycle. The long-term Elliott Wave structure suggests that the stock has finished a multi-year Wave IV correction and is now in the early stages of a new bullish cycle within Wave V. This setup indicates the potential for substantial upside over the coming years.

Wave IV Completion and the Start of Wave V​

MMM previously completed an extended five-wave impulse sequence, peaking at Wave III. Following this, the stock entered a prolonged corrective phase, labeled as Wave IV. The decline unfolded in a complex corrective pattern, with subwaves ((A))-((B))-((C)) shaping the retracement. This correction has now likely reached completion, setting the stage for a new long-term rally.

The Early Stages of Wave V​

After bottoming in Wave IV, MMM has started to build a new impulse structure. The initial advance suggests that Wave ((1)) of the larger Wave V is in progress. In the near term, we may see a minor pullback in Wave ((2)) before the next leg higher resumes. Once Wave ((2)) completes, MMM could accelerate in Wave ((3)), bringing strong bullish momentum.

The "Right Side" tag confirms that the primary trend remains bullish. As a result, we do not recommend selling, even if short-term pullbacks occur. Instead, these retracements could provide strategic opportunities to enter long positions before the next wave of growth unfolds.

Conclusion​

The Elliott Wave structure supports a long-term bullish outlook for MMM. While short-term corrections are possible, they are expected to be temporary before higher prices resume. Investors and traders should focus on the larger trend, as the development of Wave V could drive MMM to significant new highs in the coming years.

Source: https://elliottwave-forecast.com/st...iott-wave-analysis-bullish-outlook-long-term/

 

[Elliottwave-Forecast]

In this article we’re going to take a quick look at the Elliott Wave charts of Bitcoin BTCUSD published in members area of the website. As our members know BTCUSD is showing impulsive bullish sequences in the cycles from the 15,760 and 50,186 lows , that are calling for a further strength. Recently we got a pull back that has ended at the Blue Box zone,our buying area. In the further text we are going to explain the Elliott Wave Forecast and trading setup.

BTCUSD Elliott Wave 4 Hour Chart 02.25.2025​

BTCUSD is showing an incomplete structure from the all-time high on January 20th. The current Elliott Wave count suggests we should ideally see more downside in the short term, toward the 84,703–73,638 area -Blue Box (our buying zone). As the main trend is bullish, we expect to see at least a 3 waves bounce from the buying zone. Once the price reaches 50 Fibs against the (X) blue peak, we will book partial profits. This setup could ideally lead to a rally toward new highs. We advise against selling and prefer the long side from the marked blue box (buying zone).

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.

BTCUSD Elliott Wave 4 Hour Chart 03.05.2025​

BTCUSD made an extension toward our buying zone: 84,703–73,638. The crypto found buyers at the Blue Box as expected, and we got a good reaction from there. As a result, traders who entered long positions are now enjoying risk-free profits. With the price holding above the 78,197 low, we expect further strength to follow. Next technical area to the upside comes at 98,258-102,052.

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/trading/bitcoin-btcusd-elliott-wave-blue-box/

 

[Elliottwave-Forecast]

In this technical article we’re going to take a look at the Elliott Wave charts charts of Cardano (ADAUSD) published in members area of the website. As our members know, we generally favor the long side in cryptos, and they have recently offered good trading opportunities. Caradano has recently complete expanded flat against the 0.514 low and made rally as expected.
Before we take a look at the real market example of Expanded Flat, let’s explain the pattern in a few words.

Elliott Wave Expanded Flat Theory​

Elliott Wave Flat is a 3 wave corrective pattern which could often be seen in the market nowadays. Inner subdivision is labeled as A,B,C , with inner 3,3,5 structure. Waves A and B have forms of corrective structures like zigzag, flat, double three or triple three. Third wave C is always 5 waves structure, either motive impulse or ending diagonal pattern. It’s important to notice that in Irregular Flat Pattern wave B completes above the starting point of wave A. Wave C ends below the ending point of wave A . Wave C of Flat completes usually between 1.00 to 1.236 Fibonacci extension of A related to B, but sometimes it could go down to 1.618 fibs ext.

At the graphic below, we can see what Expanded Flat structure looks like



Now, let’s take a look what Elliott Wave Flat Pattern looks like in the real market

ADAUSD 4h Hour Elliott Wave Analysis 02.25.2025.​

Currently, Cardano is correcting from the 0.510 low. Elliott Wave analysis suggests the pull back is unfolding as an Irregular Flat Pattern. On lower time frames, we can see that the inner subdivisions of waves ((a)) and ((b)) show corrective sequences. Wave ((b)) has broken above the starting point of wave ((a)), while wave ((c)) has broken below the ending point of wave ((a)), which is characteristic of an Irregular Flat. At this stage, wave ((c)) still needs another wave up to complete its 5-wave structure. We recommend members avoid selling at this stage. Once the flat structure completes, we expect a further rally in ADAUSD.

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

​

ADAUSD 4h Hour Elliott Wave Analysis 03.05.2025.​

ADAUSD made another leg down as expected, completing the 2 red correction in a flat pattern. As anticipated, the crypto has started its rally. At this stage, we do not favor selling and expect more upside in the coming days.

Keep in mind that market is dynamic and presented view could have changed in the mean time. 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/cryptos/cardano-adausd-elliott-wave/