Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

Hello everyone! In today’s article, we’ll examine the recent performance of SPDR Metals & Mining ETF ($XME) through the lens of Elliott Wave Theory. We’ll review how the decline from the November 07, 2024, high unfolded as a big 3-swing correction and discuss our forecast for the next move. Let’s dive into the structure and expectations for this ETF.

$XME Daily Elliott Wave Chart 4.06.2025:​

In the Daily Elliott Wave count from April 06, 2025, we see that $XME completed a 5-wave impulsive cycle at blue ((I)). 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 $48.07 and $38.93.

This setup aligns with a typical Elliott Wave correction pattern (ABC), in which the market pauses briefly before resuming its primary trend.

$XME Daily Elliott Wave Chart 4.13.2025:​

The most recent update, from April 13, 2025, shows that the ETF bounced as predicted allowing buyers to get risk-free. After the decline from the November peak, the ETF is now finding support in the equal legs area. Currently, it is building a 5-wave impulse in wave ((1)), which should be followed by a pullback in wave ((2)). After that, the market is expected to continue higher in a renewed bullish cycle.

Conclusion​

In conclusion, our Elliott Wave analysis of SPDR Metals & Mining ETF ($XME) suggests that it could bounce in the short term. As a result, traders should monitor the $56–$58 zone as the next potential target. In the meantime, keep an eye out for any corrective pullbacks that may offer entry opportunities. By applying Elliott Wave Theory, traders can better anticipate the structure of upcoming moves and enhance risk management in volatile markets.

Source: https://elliottwave-forecast.com/st...me-blue-box-area-offers-a-buying-opportunity/

 

[Elliottwave-Forecast]

Boston Scientific Corporation (BSX) develops, manufactures & markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg & Cardiovascular segments. It offers devices to diagnose & treat different medical conditions & offer remote patient management systems. It comes under Healthcare sector & trades as “BSX” ticker at NYSE.

BSX favors rally in V started from $85.98 low of 4.07.2025 as double correction ended in daily blue box area. It expects rally to extend towards $112.20 – $120.29 area to finish the impulse started from March-2020 low.

BSX - Elliott Wave Latest Weekly View:​

In weekly sequence, it placed (II) at $24.10 low in March-2020 & II of (III) at $34.98 low in June-2022. Above there, it placed III of (III) at $107.17 high of 2.05.2025 & IV pullback at $85.98 low in daily blue box area on 4.07.2025. Within III, it ended ((1)) at $55.38 high, ((2)) at $48.35 low, ((3)) as extended wave at $91.93 high, ((4)) at $87.25 low & finally ((5)) at $101.17 high. The pullbacks of ((2)) & ((4)) are shallow in III, which indicates the strong bullish sequence.

BSX - Elliott Wave View From 3.17.2025:​

In IV pullback, it placed ((W)) at $93.29 low as 3 swing pullback & ((X)) at $104.35 low. It reacted higher from the blue box area as expected in earlier article from 3.17.2025. Later, the correction extends as double correction & ((Y)) ended at $85.98 low. It placed (A) of ((Y)) at $97.85 low, (B) at $101.28 high & (C) at $85.98 low in blue box area. We like to remain long from daily blue box area with risk free long position as it reacted above 50 % of ((Y)) leg. It favors one more push higher in ((1)) of V. It expects V to extend towards $112.20 or higher levels. Until, it breaks above III high, the correction can extend, if breaks the 4.07.2025 low. If it extend higher & erase momentum divergence in daily, it can turn out nest in daily.

BSX - Elliott Wave Latest Daily View:​

Source: https://elliottwave-forecast.com/stock-market/bsx-poised-rally-targeting-120-3/

 

[Elliottwave-Forecast]

Hello traders and welcome to another 'blue box' blog post. In a blog post like this, we discuss most recent trade setups that the Elliottwave-Forecast members took. The spotlight will be on the GBPCAD again in this post.

In the last update on GBPCAD, we discussed a bullish trade setup from the blue box. The pair had just concluded a 3-swing pullback from the March 2025 high. Prior to that, at the top of the March 2024 high, price had just completed wave ((3)) within the clear bullish sequence from the low of September 2023. Thus, the path for 'buy the dip' came after price surged above the December 2024 wave ((1)) high after over five months of sideways/choppy price action. If you have been reading our previous posts, you'd know we like buying pullbacks with a bullish sequence. Likewise, in a bearish sequence, we like selling bounces. Pullbacks/bounces evolve in a 3, 7 or 11 swing structures.

When the market presented the opportunity to buy off the extreme of a 3-swing pullback for wave ((4)) on the 27th March 2025, we didn't hesitate. Members went long as we showed in the last update. GBPCAD found support in the blue box and bounced to the risk free price. Our first target is what we call the RISK FREE PRICE. At this risk-free price, we like closing half our position in profit while leaving rest to breakeven. We like doing this conservative trade management approach because we understand the nature of the markets when correcting a trend-based sequence.

Corrections often complete a 3, 7 or 11 swing structure. When a 3-swing fails, 7 swing evolves. In a like manner, when a 7-swing fails, an 11-swing will evolves. In this example, the bounce from the blue box was corrective and the pair turned lower to evolve as a 7-swing deeper structure. Therefore, members closed the second half of their positions at breakeven and kept the profit on the first target. When the evolving 7-swing structure breached the 26th March 2025 low, we alerted members with another blue box on the H4 chart.

GBPCAD Trade Setup: 8th April, 2025​

[caption id="attachment_959244" align="aligncenter" width="1024"] GBPCAD, H4[/caption]
On 8th April 2024, we shared the chart above with members showing the blue box at 1.8204-1.7927. At the blue box, members went long and set stop at 1.7927. We expected price to finish a 7-swing structure for wave 4 with anticipation for more rallies in wave 5 of ((3)). Afterwards, wave ((4)) pullback will evolve with another buying opportunity. For this setup, we set the first target at 1.8305. At 1.8305, we anticipated to take partial profit and set the rest of the position to breakeven. The final target was set at 1.8970 where we like to close the rest of the position.

GBPCAD Trade Setup: 15th April, 2025​

[caption id="attachment_959243" align="aligncenter" width="1024"] GBPCAD, H4[/caption]
The chart above shows the current price action (the time of typing this) just a week after. After few candles in the box, the pair surged quickly to exceed the first target. Thus, members are running a risk-free trade right now after keeping some profits. Members will aim to close the rest of the position at 1.8974 where wave ((3)) could finish. The next setup will be the wave ((4)) pullback as the long-term bullish sequence remains incomplete. This is exactly how we like trading with our members.

Source: https://elliottwave-forecast.com/bluebox-wins/gbpcad-trade-setup-bulls-long-blue-box/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the Daily Elliott Wave Charts of the XAGUSD. The rally from the August 2022 low showed a higher high sequence & provided a swing buying opportunity at the blue box area. In this case, the pullback managed to reach the blue box area & provided a perfect reaction higher. So, we advised members not to sell Silver but to buy the blue box area for a minimum reaction higher to happen. We will explain the structure & forecast below:

XAGUSD Daily Elliott Wave Chart From 4.05.2025​

Here’s the Daily Elliott wave Chart from the 4.05.2025 Weekend update. In which, the rally to $34.86 high ended the cycle from March 2023 low & made a pullback against that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where wave (A) ended at $29.68 low. Then a bounce to $34.58 high-ended wave (B) & started the next leg lower in wave (C) towards $28.56- $24.82 equal legs area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

XAGUSD Latest Daily Elliott Wave Chart From 4.12.2025​

Above is the Latest Daily Elliott Wave Chart from 4.12.2025 Weekend update. In which the metal is showing a perfect reaction higher taking place from the blue box area. Right after ending the zigzag correction. Allowed members to create a risk-free position shortly after taking a long position. But a break above $34.86 high would still be needed to confirm the next leg higher minimum towards the $36.45- $38.97 area & avoid double correction lower.

Source: https://elliottwave-forecast.com/commodities/silvers-surge-xagusd-reacts-strongly-blue-box-area/

 

[Elliottwave-Forecast]

The VanEck Junior Gold Miners ETF (GDXJ), launched in 2009, focuses on small- and mid-cap gold and silver mining companies, primarily those generating most of their revenue from mining or related activities. Popular among investors chasing high-risk, high-reward opportunities in precious metals, the ETF offers targeted exposure. Below, we explore its Elliott Wave outlook.

GDXJ Monthly Elliott Wave View​

The monthly Elliott Wave chart for GDXJ (Junior Gold Miners ETF) indicates a significant low of $16.87 in 2016, marked as wave ((II)). From this bottom, the ETF began a strong upward trend. The first major peak, wave (I), reached $52.50, followed by a dip to $19.52 in wave (II). The ETF then climbed again, hitting $65.95 in wave I, with a subsequent pullback to $25.80 in wave II. As long as the ETF stays above $16.87, it’s likely to continue rising in the near term.

GDXJ Daily Elliott Wave View​

The daily Elliott Wave chart for GDXJ shows that a low of $25.79 marked the end of wave II. From there, the ETF began a strong upward move in wave III, structured as a five-wave pattern. Starting from wave II, wave (1) peaked at $41.16, followed by a dip to $30.46 in wave (2). The ETF then rallied to $49.13 in wave (3), with a pullback to $40.26 in wave (4). The final push, wave (5), reached $55.58, completing wave ((1)) on a larger scale. A correction in wave ((2)) bottomed at $41.85, and the ETF has since resumed its upward trend in a nested impulsive pattern.

GDXJ 4 Hour Elliott Wave View​

The 4-hour Elliott Wave chart for the Junior Gold Miners ETF (GDXJ) shows that the cycle starting from the September 26, 2022 low peaked at $55.62, completing wave ((1)). A pullback in wave ((2)) followed, forming a zigzag pattern: wave (A) dropped to $44.11, wave (B) rallied to $51.03, and wave (C) fell to $41.91, finalizing wave ((2)). GDXJ then began climbing in wave ((3)) with a nested impulsive structure. From wave ((2)), wave (1) reached $53.05, and a dip in wave (2) ended at $47.29. The ETF continued higher in wave (3), with wave 1 peaking at $58.59 and a pullback in wave 2 bottoming at $49.18. As long as the $41.91 low holds, GDXJ is expected to keep rising in the near term.

Source: https://elliottwave-forecast.com/st...tf-gdxj-extending-higher-impulsive-structure/

 

[Elliottwave-Forecast]

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 Miners ETF GDX . The ETF 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 and explain trading setup.

GDX Elliott Wave 1 Hour Chart 04.17.2025​

The current analysis suggests that GDX is forming a wave ((iv)) black correction. The pull back is incomplete at the moment, we expect another leg down . We anticipate an extension toward the extreme zone at 50.61-49.61 area, where we are looking to re-enter as buyers.

We recommend members to avoid selling GDX. 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 (b) blue 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 49.61 would invalidate the trade.

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

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.

GDX Elliott Wave 1 Hour Chart 04.21.2025​

The ETF extended lower into the Blue Box area and attracted buyers, just as expected. GDX has since made a solid rally from our Buying Zone, breaking to new highs. As a result, any long positions entered at the Blue Box are now risk-free. We've moved our stop loss to breakeven and already booked partial profits.
The correction appears to have ended at the 50.48 low. As long as price remains above this level, further upside remains likely. Alternatively, if that low is broken, we anticipate a deeper pullback and will look to buy the dips again at the next equal-leg zone.

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/gdx-elliott-wave-setup-buying-blue-box/

 

[Elliottwave-Forecast]

Hindustan Copper Ltd. (HINDCOPPER) Elliott Wave Analysis: Blue Box Wins Again, Bulls Take Control

Hindustan Copper Ltd. (HINDCOPPER) continues to respect the principles of Elliott Wave Theory, as the recent price action once again validated the power of the Blue Box area. Over the past few months, the stock underwent a deep and complex correction, but as anticipated, buyers showed up exactly where they were expected—within the Blue Box support zone. This reinforces the reliability of the Blue Box as a high-probability area for a trend resumption.

Elliott Wave Structure from 01.14.2025​

From the 2022 lows, HINDCOPPER advanced in a clear five-wave impulsive structure, culminating in a peak near ₹353.60. This rally marked the end of wave ((3)). What followed was a typical WXY double correction pattern in wave ((4)). This correction retraced deep into the Fibonacci zone between the 100% and 161.8% extension, marked as the Blue Box.

The chart from January 14, 2025, highlighted this Blue Box support area between ₹234.77 and ₹182.28. Price action at the time had just entered the zone, and the wave count suggested the completion of the corrective sequence. Fast-forward to the latest chart dated April 21, 2025, and the outlook has played out beautifully. The stock reversed precisely from the Blue Box area, with wave C of ((4)) completing the correction.

​

Current Outlook: Blue Box Reaction​

The bounce from the Blue Box confirms completion of wave ((4)) and the beginning of new cycle in wave ((5)). The updated chart shows an impulsive structure emerging from the lows, reinforcing the idea that the trend has shifted back to the upside. The message “We Do Not Recommend Selling” and the “Turning Up” tag at the bottom of the chart align perfectly.

As long as price remains above the invalidation level of ₹93.60, the bias remains firmly bullish. The stock is now poised to challenge previous highs and potentially extend beyond ₹420 in the coming months.


Source: https://elliottwave-forecast.com/st...ox-support-delivers-another-bullish-reversal/

 

[Elliottwave-Forecast]

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

As expected in the previous article, VRT ended impulse sequence (I) at $155.84 high in January-2025. Below there, it favors zigzag correction in (II) towards $68.08 - $31.94 area before next rally. It reached the daily blue box area & should continue rally against $31.94 low.

VRT - Elliott Wave Latest Weekly View:​

In weekly, it favors (II) pullback in 3 swings pullback & buyers should take control soon. 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. It ended IV as zigzag correction at $62.40 low & V as (I) at $155.84 high.

VRT - Elliott Wave Latest Daily View:​

Below (II) low, it favors lower in c & expect to break below 4.07.2025 low to finish the correction. Within (II), it placed a at $97.50 low & b at $126.53 high. It placed ((1)) of c at $76.10 low, ((2)) at $94.20 high, ((3)) at $53.60 low, ((4)) at $76.49 high & favors downside in ((5)). It expects ((5)) to extend towards $48.12 – $36.25 area to finish c in zigzag correction. We like to remain long from daily blue box area against $31.94 low for next move higher. It should continue rally later in (III) or at least larger 3 swing bounce.

VRT - Elliott Wave View From 9.23.2024:​

Source: https://elliottwave-forecast.com/stock-market/vrt-eyes-next-rally-from-blue-box-area/

 

[Elliottwave-Forecast]

IONQ inc. is a pioneer in the development and manufacturing of quantum computers, focusing on quantum computing and quantum information processing. Founded in 2015 by Christopher Monroe and Jung Sang Kim, the company is headquartered in College Park, MD.
This blog post provides an in-depth technical analysis of IONQ's stock performance, specifically its weekly chart. Key findings include:

• Two upward channels emerging from all-time lows​

• A potential nest structure forming, indicating further upside potential for the IONQ ticker symbol. ​

In which the rally to $35.90 high ended wave ((I)) and down from there made a pullback lower. The internals of that pullback unfolded as a double three structure where wave (w) ended at $9.16 low. Then a bounce to $17.66 high ended wave (x) bounce. And wave (y) ended at $3.03 low, thus completed wave ((II)) pullback. Up from there, the stock is nesting higher in an impulse sequence where wave (I) ended at $21.60 high. Wave (II) pullback ended at $6.22 low and made a very nice rally higher. Since then the stock rallied in wave I at $54.74 high and made a 3 wave pullback in wave II. The internals of that pullback unfolded as zigzag correction where wave ((A)) ended at $25.92 low. Wave ((B)) bounce ended at $45.56 high and wave ((C)) ended at $17.88 low. Near-term, as far as dips remain above $17.88 low expect stock to resume the upside.

IONQ Elliott Wave Weekly Analysis From 4.22.2025​

Source: https://elliottwave-forecast.com/stock-market/ionq-pullback-complete-next-stop-higher/

 

[Elliottwave-Forecast]

Hello fellow traders,

In this technical article, we are going to present Elliott Wave charts of QQQ ETF . As our members know QQQ is trading within the cycle from the 396 low. Recently the ETF has reached the extreme zone from the April 9th peak and found buyers as expected. In the following sections, we will explain the Elliott Wave forecast.

QQQ Elliott Wave 1 Hour Chart 04.21.2025​

The current view suggests QQQ is about to complete the cycle from the peak. Correction is reaching the extreme zone at 429.35-420.91 area. At that zone buyers should re-enter, which could lead to a further rally toward new highs or in a 3 waves bounce at least. We recommend that members avoid selling QQQ and keep favoring the long side.

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.

QQQ Elliott Wave 1 Hour Chart 04.10.2025​

QQQ found buyers, and made decent reaction from the Equal Legs zone : 429.35-420.91. Cycle from the peak ended at 428.3 low. As far as the price stays above that low, we can see further strength in the ETF. As a result, any long trades from the marked zone should be in risk-free positions with partial profits taken.

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.

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




Source: https://elliottwave-forecast.com/stock-market/qqq-elliott-wave-rally-equal-legs/

 

[Elliottwave-Forecast]

Xylem Inc. (XYL) has completed its wave (2) correction and is now poised to rally in wave (3) of (III), according to Elliott Wave analysis​

Xylem Inc. (NYSE: XYL) continues to respect its long-term Elliott Wave structure with impressive precision. As seen in the weekly chart, the stock recently completed a corrective wave (2) and appears to be resuming a new bullish leg within a larger impulsive cycle. The broader trend remains bullish as the price action aligns perfectly with the Elliott Wave Principle.

From the 2009 low, XYL has progressed in a multi-decade impulsive structure. The rally unfolded in five waves to form wave (I), which peaked in 2021. This was followed by a significant three-wave correction labeled as wave (II), bottoming in 2022. Since then, the stock has embarked on another five-wave impulse higher, beginning wave (III). Within that cycle, we can observe the completion of wave (1) and a recent pullback that likely marks the end of wave (2).



Since then, the stock has begun a new advance. The recent structure shows completing wave (1) of ((III)), followed by a three-wave correction labeled as wave (2). This pullback is now likely complete, and the next leg higher in wave (3) is expected to unfold.

The “Right Side” tag remains bullish. This encourages traders and investors to stay aligned with the trend and avoid selling prematurely. The bullish scenario holds as long as the price remains above the invalidation level of $23.50. Xylem’s technical setup favors further upside. Traders may look to buy pullbacks while respecting key structural levels. As the wave (3) rally unfolds, new highs toward and beyond the $160 mark could be seen in the coming months.

Conclusion:​

Xylem Inc. appears to have completed a textbook wave (2) correction and is likely starting a new bullish phase. With structure and momentum favouring the upside, the long-term view remains bullish as the next leg higher unfolds.

Source: https://elliottwave-forecast.com/st...ew-bullish-leg-completing-wave-ii-correction/

 

[Elliottwave-Forecast]

Hello everyone! In today’s article, we’ll examine the recent performance of Microsoft Corp. ($MSFT) through the lens of Elliott Wave Theory. We’ll review how the decline from the July 05, 2024, high unfolded as a big 3-swing correction and discuss our forecast for the next move. Let’s dive into the structure and expectations for this stock.

$MSFT Daily Elliott Wave Chart 4.06.2025:​

In the Daily Elliott Wave count from April 06, 2025, we see that $MSFT completed a 5-wave impulsive cycle at blue ((I)). 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 $355.81 and $293.74.

This setup aligns with a typical Elliott Wave correction pattern (ABC), in which the market pauses briefly before resuming its primary trend.

$MSFT Daily Elliott Wave Chart 4.20.2025:​

The most recent update, from April 20, 2025, shows that the stock bounced as predicted. After the decline from the July peak, the stock is now finding support in the equal legs area. Currently, it is pulling back in wave ((2)) to correct the 5-wave impulse of wave ((1)). After that, the market is expected to continue higher in wave ((3)) of a renewed bullish cycle.

Conclusion​

In conclusion, our Elliott Wave analysis of Microsoft Corp. ($MSFT) suggests that it remains supported against April 2025 lows. As a result, traders should buy the dips and monitor the $408 –$441 zone as the next potential target. In the meantime, keep an eye out for any corrective pullbacks that may offer entry opportunities. By applying Elliott Wave Theory, traders can better anticipate the structure of upcoming moves and enhance risk management in volatile markets.

Source: https://elliottwave-forecast.com/st...msft-blue-box-area-offers-buying-opportunity/

 

[Elliottwave-Forecast]

Shopify Inc. is a Canadian multinational e-commerce company in Ottawa, Ontario. Shopify (SHOP) is the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems. The Shopify platform offers online retailers a suite of services including payments, marketing, shipping and customer engagement tools.

Experts hold varied perspectives on Shopify (SHOP) stock for 2025. On one hand, some analysts recommend a moderate buy rating, citing a consensus price target of $120.94, which represents significant potential upside. Moreover, they emphasize Shopify's recovery from earlier missteps, particularly its decision to sell the Shopify Fulfillment Network. This move, in turn, allowed the company to refocus and achieve profitability.

On the other hand, many believe that Shopify's success will ultimately hinge on several critical factors. For instance, the continued growth of the e-commerce industry will play a pivotal role in its performance. Additionally, Shopify's ability to innovate while maintaining efficient cost management will be key to sustaining its momentum. Despite the optimism, some caution remains, as market dynamics could still present challenges for the stock.

SHOP Elliott Wave View:​

Shopify's price movement within the Elliott Wave framework tells an engaging story. The Grand Supercycle ended in July 2021, completing wave ((I)). Afterward, the market transitioned into a flat corrective phase, marking the beginning of wave ((II)).

The first phase of this correction saw a three-wave decline, finishing at 128.46, which was wave (a). The market then rebounded above 164.88 in three additional waves, signaling a flat correction and culminating in wave (b) at 176.49. From there, Shopify's price executed a flawless impulsive wave downward, reaching a low of 23.75. This move completed wave (c) and also marked the conclusion of wave ((II)).

If you're eager to dive deeper into Elliott Wave Theory and learn how its principles apply to market forecasting, you might find these resources helpful: Elliott Wave Education and Elliott Wave Theory. Let me know if you'd like any other refinements or insights!

SHOP Daily Chart November 2024​

​

In the chart at the time, the market broke the 56.31 low, invalidating the previous view. However, it did not break the 45.50 wave (II) low. As a result, wave II formed a double correction structure, which ended at the 48.56 low. The market then bounced, completing wave ((1)) at 84.37, followed by a pullback to 65.86, which marked the completion of the wave ((2)) correction.

Afterward, Shopify continued its rally, breaking the wave I high and indicating that wave III was underway. The structure resembled an impulse and appeared poised to move higher until the completion of wave III. At that time, the best strategy was to buy dips following a 3, 7, or 11 swings correction.

SHOP Daily Chart April 2025​

In this latest update, we observed that Shopify (SHOP) completed waves ((3)), ((4)), and ((5)), marking the end of wave III. However, the correction was notably strong, entering the area of wave I. This invalidated the initial idea of a nest (I), (II), I, II. Instead, the structure aligned better with a leading diagonal labeled as wave (I).

Consequently, we identified wave III ended at the 129.38 high and wave IV at the 69.84 low. From this point, we expect that Shopify's stock would continue rising, aiming for the area between 143.49 and 154.61. This zone would complete a cycle and wave V of (I). In this region, the market was expected to face rejection, initiating the corrective wave (II).

For now, maintaining a bullish outlook is essential, as long as the market does not break below the 69.84 low. Let's see what the market brings us. Trade Smart!

Source: https://elliottwave-forecast.com/stock-market/shopify-shop-completes-cycle-bulls-control/

 

[Elliottwave-Forecast]

CrowdStrike Holdings, Inc. (CRWD) is an American cybersecurity technology company based in Austin, Texas. It provides cloud workload and endpoint security, threat intelligence, and cyberattack response services.

Analysts have a positive outlook for CrowdStrike Holdings, Inc. (CRWD) in 2025. The stock has a consensus rating of "Moderate Buy," with 33 analysts recommending it as a buy. The average price target for CRWD is $400.76, with a high of $475.00 and a low of $275.00. CrowdStrike's strong performance in the C sector and its innovative product offerings contribute to its favorable ratings.

CrowdStrike (CRWD) August 2024 Weekly Chart​

​

Previously, we identified key patterns in its price movements, focusing on Elliott Wave structures that unfolded with precision. Initially, CRWD completed wave (II) at the 92.25 low, which set the stage for an impressive rally. The stock surged through waves ((1)) and ((2)), ending at 166.99 and 140.52, respectively. Then, wave ((3)) climbed to an all-time high at 365.00, followed by wave ((4)) at 280.88 and wave ((5)) at 398.33 high to complete an impulse structure.

We called a nest (I) (II), I II. After this wave I, we saw a very sharp drop making the stock to lose 50% of his value. As last time, with this pullback wave II could have completed already. However, we were calling as part of a bigger wave II. The global market was showing some relative bullish exhaustion that could send the stock to see more downside. Therefore, wave ((A)) of wave II ended at 200.81 and we were expecting a corrective rally to stay below 398.33 high. Then CRWD should resume lower in wave ((C)) of II to complete the structure before resuming to the upside.

If you're enthusiastic about exploring Elliott Wave Theory and uncovering how its concepts influence market predictions, these references could prove valuable: Elliott Wave Education and Elliott Wave Theory.

CrowdStrike (CRWD) April 2025 ​

In this update, we revised the structure and introduced a leading diagonal. The original nest concept was reclassified, with wave I now labeled as wave (III) and the correction as wave (IV). From here, an impulse wave must develop to complete wave (V). Conservatively, we proposed an ending diagonal for wave (V), requiring wave IV to enter wave I’s area. This adjustment ensures wave (V) aligns with the ideal fractal, maintaining its position as the smallest within the diagonal.

Looking ahead, we expect the bullish trend to continue, forming two additional highs to finalize the structure. The grand super cycle's ideal completion zone lies between 493.75–507.59 area, where the market could react downward, marking the end of the cycle and wave ((1)). If this occurs, a significant correction may follow, potentially pushing CRWD’s price below 250. Stay tuned for market movements and trade wisely!

Source: https://elliottwave-forecast.com/stock-market/crwd-cycle-diagonal-forecasting-upside/

 

[Elliottwave-Forecast]

Royal Gold (NASDAQ: RGLD), founded in 1991, is a global leader in precious metals royalty and streaming. With interests in 194 properties across 20+ countries, it manages gold, silver, copper, lead, and zinc assets. This article evaluates its bullish Elliott Wave framework and highlights potential paths for further growth.

Following 5 years of consolidation in a sideways range, RGLD has decisively surged to new all-time highs within a robust impulsive wave (III) structure. The weekly chart reveals a nesting formation to the upside, therefore, it's suggesting a third wave extension is likely to unfold, reinforcing the stock's bullish trajectory.

The chart below illustrates the Nest formation, showcasing the I-II series leading up to the wave III extension. Certainly, identifying and capitalizing on a breakout within a nest is among the most rewarding opportunities for Elliott Wave traders.

Third Wave Extension​

You can learn more about Elliott Wave Patterns at our​

Remember, the market is dynamic, so the presented view may have changed in the meantime. You can also ask for live updates in our Live Trading Room, where our expert analysts provide next buying opportunity based on new market data.

RGLD Weekly Chart​

RGLD is expected to continue its rally through a series of 4th and 5th waves, completing its entire cycle from 2020 within a 5-wave advance above $200. Once this cycle concludes, a larger degree correction is anticipated. In the meantime, we expect the daily pullback to remain supported. After that, buyers are likely to seek long entries, positioning themselves against the December 2024 low of $130.6. This level serves as a critical support point in the ongoing bullish progression.

Source: https://elliottwave-forecast.com/stock-market/royal-gold-rgld-bullish-nest-break-200/

 

[Elliottwave-Forecast]

There has been a back and forth regarding the tariff headlines as traders and investors are clouded in uncertainties. Clearly, the economic war has narrowed to a face-off between the US and China. Meanwhile, if we take our eyes away from the headlines, what's price telling us? In this article, we will use the Elliott wave theory to discuss the possible paths the S&P500 (SPX) could take in the coming weeks.

Early in April, the US President, Donald Trump announced the largely anticipated tariff plans. Shortly afterwards and days after, most assets especially the risk assets started to bleed. Investors panicked and converted to cash until the dust settled. Afterwards, cash flows went into precious metals especially Gold which saw some of it's biggest gains in the last 100 years. Gold reached record highs multiple times while the US Indices faltered.

However, before the sell-off on the US Indices - S&P500 (SPX) and others, we had anticipated that the bullish cycle from October was getting completed. Thus, we warned members in our live sessions. However, we expected the expected decline to correct the cycle from August 2024 and then turn higher but the trade war impact had forced prices much lower to now correct the bigger bullish cycle from October 2022. In the Elliott wave terms, the bullish cycle from October 2022 marked the start of the wave ((III)) grand supercycle degree. From the lows of October 2022, price completed an impulse sequence for wave (I) of ((III)) in February 2025. Thus, from the high of February, wave (II) emerged. We intended to buy wave (II) if it completed a 3 or 7 swing structure.

SPX: A typical 3 or 7 swing pullback for (II)?​

The first impact from the February high was a clear 3-swing decline that ended at the extreme area where we recommended members should buy for some profit.. Price rallied from the extreme as expected. Members reached the first target and are running a risk-free trade after taking partial profit. Going forward, the debate is whether the rally will be corrective or impulsive toward the February high. The chart below shows the scenario where wave ((II)) already finished at the April 2025 low.

SPX H4 - Ist Scenario​

[caption id="attachment_959679" align="aligncenter" width="1024"] SPX H4, 1st Scenario[/caption]
The chart above shows wave (II) may have ended at the April low and the recovery should emerge higher for wave (III) above the February high. If the tariff risks de-escalate, this scenario should work and buyers push higher. However, to add to our long position, we like to see the rebound from April complete a 5-swing. If wave (1) ends with a 5-wave structure, then we can buy the next 3/7 swing pullback from the blue box and join buyers as they push further. However, if the tariff risks escalate, then SPX could push lower from higher prices as the second scenario below shows.

H4 - 2nd Scenario​

[caption id="attachment_959680" align="aligncenter" width="1024"] SPX H4 - 2st Scenario[/caption]
The H4 chart above indicates that wave (II) may develop lower for a deeper 7-swing structure. Corrective structures evolve as 3, 7 or 11 swing sequences. The 3-swing sequence ended wave W. However, the current reaction from the April low can also be interpreted as a a corrective - 7-swing in wave X of (II). Thus, price may still push higher to 5754 or thereabout and then turn sharply lower again. A break below the 4827 low will confirm this scenario. If this happens, we will look to buy lower at the extreme of the 7-swing structure. However, if price breaks below 4827, we could take short term shorts from the extreme of 3 or 7 swing bounces toward the next extreme for wave (II).

No matter what happens between the US and China in the coming days, weeks or months, we already mapped out how we will like to trade SPX. We don't even need to follow the headlines let alone trading them. All will need is the price action, our Elliott wave skills and our proprietary blue box.

Source: https://elliottwave-forecast.com/stock-market/spx-elliott-wave-forecast-amid-tariffs/