Elliottwave-Forecast.com - Official Thread w/ Analysis Blogs

GBPJPY Looking For Acceleration As Elliott Wave Nest
The short-term Elliott wave view in the GBPJPY suggests that the cycle from 03 October 2023 low is nesting higher & expected to accelerate higher. Up from there, the rally to 183.81 high ended wave 1 & then made a pullback in wave 2. The internals of that pullback unfolded as Elliott wave flat correction. Whereas the first leg of the flat ended in wave ((a)) at 180.93 low. Wave ((b)) bounce ended at 183.75 high and wave ((c)) completed at 180.73 low thus completed the wave 2 pullback.
From there, the pair made a rally higher in an impulse sequence & showed a higher high sequence supporting the nest in wave 3 higher. The first leg of the rally to 181.87 high ended wave (i). Wave (ii) ended at 180.91 low, wave (iii) ended at 183.83 high, wave (iv) ended at 183.09 low. Then a rally to 184.35 high ended wave (v) & completed wave ((i)). Below from there, the pair is doing a short-term pullback in wave ((ii)), which is expected to hold in 3, 7, or 11 swings. Looking for more upside extension towards 186.55- 190.13 area next as far as dips remain above 180.73 low. Don’t recommend selling the pair.
GBPJPY 1-Hour Elliott Wave Chart From 11.01.2023


GBPJPY Elliott Wave Video

AUDUSD Elliott Wave Bounce Corrective Or Simple A-B-C?
The short-term Elliott wave view in the AUDUSD suggests that the decline from the 02 February 2023 peak has ended as a diagonal structure where wave 1 ended at $0.6458 low. A bounce to $0.6899 high ended wave 2. Wave 3 ended at $0.6356 low, and wave 4 ended at $0.6511 high. Then a decline to $0.6269 low ended wave 5 thus ended wave (1). Above from there, the pair is doing a bounce in wave (2) against that cycle. And the pair soon needs to decide if it’s going to extend in 7 swings or a simple A-B-C from the lows.
So far, the rally from the lows is unfolding in 3 waves only but is expected to take the form of simple A-B-C. Whereas the first leg to $0.6283 high has ended wave ((i)). Then a pullback to $0.6313 low ended wave ((ii)). Up from there, the pair has managed to reach the extreme from the lows at $0.6427- $0.6497 area. From there, the pair is expected to make a small pullback. Then decide whether it’s going to continue higher in an impulse sequence with a shallow pullback. Or if it makes a strong pullback against the $0.6269 low then the bounce can extend in corrective 7 swings from the lows. Near-term, as long as dips remain above $0.6269 low expect the pair to continue to extend higher in the bounce. We don’t recommend buying the pair.
AUDUSD 1-Hour Elliott Wave Chart From 11.02.2023


AUDUSD Elliott Wave Video

DAX Doing 3 Wave Corrective Bounce From The Lows
The short-term Elliott wave view in the DAX suggests that the index has ended the cycle from the 31 July 2023 peak as a leading diagonal structure in a higher degree corrective sequence. Whereas the decline to 15468 low ended wave 1, wave 2 ended at 16042 high. Wave 3 ended at 14948 low & wave 4 ended at 15575 high. Down from there, wave 5 unfolded in a lesser degree 5 waves structure where wave ((i)) ended at 15103 low. Wave ((ii)) ended at 15288 high, wave ((iii)) ended at 14820 low, wave ((iv)) ended at 14914 high and wave ((v)) ended at 14630 low. Thus ended wave 5 of (A) as a leading diagonal structure.
Up from there, the index is doing a 3-wave corrective bounce within the wave (B) bounce as an Elliott wave zigzag correction. While the initial rally to 14916 high has ended wave ((i)). Then a pullback in wave ((ii)) unfolded as a flat correction where lesser degree wave (a) ended at 14809 low. Wave (b) ended at 14933 high, and wave (c) ended at 14655 low. Above from there, the index is extending higher in wave ((iii)) as an impulse sequence. Near-term, as long as dips remain above 14630 low the index is expected to continue to extend higher for a few more highs. To complete the first leg of the bounce in wave A. Afterward, the index is expected to see a pullback in wave B. Then it should do another extension higher in wave C to complete the 3-wave corrective bounce.
DAX 1-Hour Elliott Wave Chart From 11.03.2023


DAX Elliott Wave Video

Pan American Silver (PAAS) In the Process of Bottoming
November 6, 2023 By EWFHendra
Pan American Silver Corporation (PAAS) is a Canadian mining company that specializes in the exploration, development, and production of silver and gold ores. The company is one of the world’s largest primary silver mining companies and has a strong presence in the Americas. Below we will update on the technical outlook for the company:
PAAS Monthly Elliott Wave Chart


Monthly Elliott Wave of Pan American Silver (PAAS) above shows that the stock ended wave ((II)) at 5.32 on January 2016 low. From there, the stock has started a new bullish cycle. Up from wave ((II)), wave (I) ended at 40.11 and dips in wave (II) ended at 13.4. Expect the stock to resume higher as far as it stays above 13.4, and more importantly above 5.32.
PAAS Daily Elliott Wave Chart


Daily Elliott Wave Chart of Pan American Silver (PAAS) above shows that the stock ended wave (II) at 13.26. The stock has started to turn higher even though it sill needs more separation from the low. Up from wave (II), it formed a leading diagonal with wave ((1)) ended at 19.84. Pullback in wave ((2)) ended at 13.45. The stock has resumed higher again in wave ((3)). Near term, as far as pivot at 13.26 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.
To get regular technical updates on 72 instrument from stocks, Indices, forex, and commodities, feel free to try our service free –> 14 days FREE Trial.
Source:https://elliottwave-forecast.com/sto...-of-bottoming/

HPQ Favors Further Weakness In Zigzag Correction
November 6, 2023 By EWFRaj
P Inc., (HPQ) provides personal computing & other access devices, imaging & printing products, & related technologies, solutions & services in the United States & internationally. The company operates through three segments: Personal systems, Printing & Corporate Investments. It is based in Palo Alto, California, comes under Technology sector & trades as “HPQ” ticker at NYSE.
HPQ favors correction lower since April-2022 high & expect to remain sideways to lower below $33.90 high in zigzag sequence. It needs to break below $24.07 low of October-2022 to confirm the next move lower.
HPQ – Elliott Wave Latest Daily View:

It made the all time high of $41.47 in April-2022 & starts correcting lower in zigzag correction. It placed a of (II) at $24.07 low in October-2022 low, in which it placed ((1)) of at $30.01 low, ((2)) at $35.32 high, ((3)) at 24.73 low, ((4)) at 27.04 high & ((5)) as a of (II) at $24.07 low. Later, it bounced off in b connector, which ended at $33.90 high as double correction. It placed ((W)) at $31.09 high, ((X)) at $26.09 low & ((Y)) at $33.90 high. Below there, it favors lower in c of (II), which will confirm when it breaks below $24.07 low.
Below b high, it placed ((1)) of c at $25.22 low. Within ((1)), it placed (1) at $32.23 low, (2) at $33.50 high, (3) at $27.85 low, (4) at $30.66 high & finally (5) as extended move at 25.22 low. Currently, it favors bounce in C of (W) of ((2)) & soon expect to fail in (X) connector with small upside follow by another push higher in (Y) to finish ((2)). It expects ((2)) to fail below b high of $33.90 to turn lower in ((3)) of c & remain choppy to lower. It expects c of (II) to extend lower towards $16.47 or lower levels to finish (II) correction before turning higher.
Elliottwave Forecast updates 1-hour charts four times a day & 4-hour charts once a day for all our 78 instruments. We do a daily live session, where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market at the moment. You can try us for 14 days for only $9.99.
Source:https://elliottwave-forecast.com/sto...ag-correction/

NZDJPY Making Strong Comeback From Blue Box
November 6, 2023 By Hassan Sheikh
In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of NZDJPY. In which, the rally from 24 March 2023 low unfolded as an impulse sequence and showed a higher high sequence. Therefore, we knew that the structure in NZDJPY is incomplete to the upside & should extend higher. So, we advised members not to sell the pair & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
NZDJPY 4-Hour Elliott Wave Chart From 10.23.2023


Here’s the 4-hour Elliott wave Chart from the 10/23/2023 update. In which, the rally to 90.20 high ended wave 1 & made a pullback in wave 2. The internals of that pullback unfolded as Elliott wave double three correction where wave ((w)) ended in 3 swings at 87.04 low. Then a bounce to 89.92 high-ended wave ((x)) & started the next leg lower in wave ((y)) towards 86.75- 86 blue box area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.
NZDJPY Latest 4-Hour Elliott Wave Chart From 11.05.2023


This is the latest 4-hour Elliott wave Chart from the 11/05/2023 update. In which the pair is showing a strong 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. However, a break above 90.20 high is still needed to confirm the next extension higher & avoid further correction lower. It’s important to note that with further data we have adjusted the degree of the pullback & changed the correction to a flat correction.
If you are looking for real-time analysis in NZDJPY along with the other forex pairs then join us with a 14-Day Trial for the latest updates & price action.
Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry.
Stop loss and take profit levels with high accuracy and allow you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a Trial.
Source:https://elliottwave-forecast.com/for...back-blue-box/

Nasdaq (NQ_F) Rally Corrective or Start of New Bullish Leg?

Short Term Elliott Wave in Nasdaq Futures (NQ_F) shows the Index ended wave ((W)) at 14140.25. The Index rallies to correct cycle from 7.19.2023 high in wave ((X)). Internal of wave ((X)) is unfolding as a zigzag Elliott Wave structure. Up from wave ((W)), wave (A) is in progress as a nesting impulse. Wave 1 rally ended at 14476.5 and pulback in wave 2 ended at 14306.25. Index then nested higher. Up from wave 2, wave ((i)) ended at 14472 and dips in wave ((ii)) ended at 14311.25. The Index then extended higher again in wave ((iii)) towards 15017.25.

Pullback in wave ((iv)) ended at 14925.50. Final leg higher wave ((v)) ended at 15275.5 which completed wave 3. Expect the Index to pullback in wave 4 and see support in 3, 7, 11 swing for more upside in wave 5 to end wave (A) of ((X)). Wave 4 may reach 23.6 – 38.2% Fibonacci retracement of wave 3 which comes at 14892 – 15030. Once wave 5 of (A) ends, the Index should pullback in larger degree wave (B) to correct cycle from 10.27.2023 low before it turns higher again. Near term, as far as pivot at 14140.25 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

Nasdaq (NQ_F) 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

NQ_F Elliott Wave Video

Inserted Video

Get 14 days Trial --> Click Here
Source: https://elliottwave-forecast.com/new...w-bullish-leg/

USDX Elliott Wave : Forecasting The Path
November 6, 2023 By EWF Vlada
Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of Dollar Index ($USDX ) published in members area of the website. As our members know USDX has ended cycle from the 99.5 low as 5 waves structure. We were calling cycle completed at the 107.34 peak. Recently we got short term bounce against that high that has unfolded as Double Three Structure. In further text we’re going to explain the Elliott Wave pattern and forecast
USDX Elliott Wave h4 Chart 10.31.2023
Dollar is doing short term recovery against the 107.32 peak that is unfolding as a Double Three – 7 swings pattern. Pull back has (W)(X)(Y) blue labeling. The structure is still incomplete at the moment. We expect to see another leg up (y) of ((x)) that can retest 107.32 peak, before decline takes place. 107.32 is the key level to hold for a proposed view. As far as the price stays below that peak we expect to get at least another leg down within proposed correction.
You can learn more about Elliott Wave Double Three Patterns at our Free Elliott Wave Educational Web Page.


USDX Elliott Wave h4 Chart 11.02.2023
We got another leg up within ((x)) black recovery. 107.32 peak held well and Dollar found sellers as expected. We are calling ((x)) recovery completed at 107.119 high. As far as the price stays below that high, next technical area to the downside comes at 105.102-103.85


USDX Elliott Wave h4 Chart 11.02.2023
USDX made decline and the price reached extreme zone from the peak at 105.102-103.85 .Current view suggests that pull back against the 99.5 low can be still in progress, when we are ending first leg W of (2) at the marked zone. Dollar can find buyers soon at 105.102-103.85 for a 3 waves bounce in X red connector.
Keep in mind not every chart is trading recommendation. You can check most recent charts and new trading setups in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.


Elliott Wave Forecast
We cover 78 instruments in total, but it’s important to keep in mind that not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room. If not a member yet, Sign Up for 14 days Trial now and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy.
Please keep in mind that we don’t make the market and our forecasts don’t have 100% accuracy. However, we do have a system which allows us to get out Risk Free + cash partial profit from the trade, even if primary analysis gets wrong. Join us now and start learning from market experts. If you are looking for professional real-time analysis in Forex, Indices, commodities,Crypto currencies , stocks and ETFs you have come to the right place.
Welcome to Elliott Wave Forecast !
Source:https://elliottwave-forecast.com/for...ecasting-path/

NIO’s Rally Failed, Elliott Wave Path Shows More Downside
November 6, 2023 By EWFLuis
Nio Inc. (NIO) is a Chinese multinational automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric vehicles. The company develops battery-swapping stations for its vehicles, as an alternative to conventional charging stations. The company has raised over $5 billions from investors. In 2021, it plans to expand to 25 different countries and regions by 2025.
NIO Daily Chart June 2023


Months ago, we saw NIO had been falling since early days of 2021 and it seemed that the correction that we called as wave ((II)) had ended. The chart showed that the price action dropped reaching the blue box (7.05 – 4.80) at 7.00 and rallied. It given us the idea that the big cycle as wave ((II)) had ended and it should continue higher as price stays above 7.00. (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory).
NIO Daily Chart November 2023


In the chart above, we can see how NIO made a nice rally from the blue box with more than 125% in profits. However, the pullback has been too deep. It still has not broken the low of 7.00, but with the market conditions it is more likely that is going to happen. That is why we adjusted the count and we called wave (c) in blue as an ending diagonal. Wave I of (c) ended at 11.67 low and wave II bounce finished at 24.43. We can see 5 waves down making the wave ((5)) of III an ending diagonal structure completing at 7.33 low. Then, took a part a 3-3-5 flat correction as wave IV ending at 16.18 high.
From 16.18 high, NIO made a strong move to the downside. Wave (1) of ((1)) ended at 9.46 low, then bounced making a zig zag structure finishing wave (2) at 11.35. The momentum continued sending the stock to 7.93 to complete wave (3). A small reaction higher ended wave (4) at 9.22 and continued lower to completed wave (5) of ((1)) at 7.18. This wave ((1)) is the wave ((1)) of V that at the same time is the wave V of (c) of ((II)). Currently, we are expecting to rally in 3, 7 or 11 swings correction to finish wave ((2)) before seeing further downside. The view is valid as price action stays below 16.18 high.
Elliott Wave Forecast
www.elliottwave-forecast.com updates one-hour charts 4 times a day and 4-hour charts once a day for all our 78 instruments. We do a daily live session where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market.
Source:https://elliottwave-forecast.com/sto...wave-downside/

Gold (XAUUSD) Pullback Looking for Support to the Upside


Short Term Elliott Wave in Gold (XAUUSD) suggests that the metal is correcting cycle from 10.6.2023 low. Up from 10.6.2023 low, wave (1) ended at1997.16. Pullback in wave (2) is in progress as an expanded Flat structure. Down from wave (1), wave A ended at 1953.4 and rally in wave B ended at 2009.38. Internal of wave (B) unfolded as a zigzag in lesser degree as the 1 hour chart below shows. Up from wave A, wave ((a)) ended at 1993.44 and pullback in wave ((b)) ended at 1971.50. Final leg wave ((c)) ended at 2009.38 which completed wave B.

Wave C lower is in progress as a 5 waves diagonal. Down from wave B, wave ((i)) ended at 1969.69 and rally in wave ((ii)) ended at 2004.07. The metal may see another leg lower to end wave ((iii)), then it should rally in wave ((iv)) before turning lower again 1 more time in wave ((v)) to end wave C of (2). Near term, as far as pivot at 2009.38 high stays intact, the metal has scope to extend a bit lower. However, in the higher degree, as long as Gold stays above 10.6.2022 low at 1810.58, the current wave (2) pullback should find support in 3, 7, or 11 swing for further upside.

XAUUSD 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

Gold (XAUUSD) Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...upport-upside/
Get 14 days Trial --> Click Here

Gold Miners ETF (GDX) Looking to End Zigzag Correction

Short term Elliott Wave view in Gold Miners ETF (GDX) suggests the ETF is correcting cycle from 10.4.2023 low. Rally from 10.4.2023 low ended wave (1) at 30.16. Pullback in wave (2) is unfolding as a zigzag Elliott Wave structure. Down from wave (1), wave A ended at 27.61 as a diagonal. Rally in wave B ended at 29.81 as another zigzag in lesser degree. Up from wave A, wave ((a)) ended at 28.48 and dips in wave ((b)) ended at 27.90 Final leg wave ((c)) ended at 29.81 which completed wave B.

Wave C lower is currently in progress as a 5 waves impulse. Down from wave B, wave (i) ended at 29.18 and wave (ii) ended at 29.55. Wave (iii) lower ended at 28.54, wave (iv) ended at 29.15, and wave (v) lower ended at 28.11 which completed wave ((i)). Rally in wave ((ii)) ended at 28.64. The ETF then turned lower in wave ((iii)). Down from wave ((ii)), wave (i) ended at 28.17 and wave (ii) ended at 28.43. Near term, as far as pivot at 29.81 high stays intact, expect further downside in the ETF. Potential target lower is 100% – 161.8% Fibonacci extension from 10.20.2023 high which comes at 25.74 – 27.29.

GDX 45 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

GDX Elliott Wave Video

Inserted Video

Get 14 days Trial --> Click Here
Source: https://elliottwave-forecast.com/new...ag-correction/

Fortinet (NASDAQ: FTNT) New Opportunity on The Horizon
November 9, 2023 By EWFAyoub
Fortinet Inc (NASDAQ: FTNT) the global leader in cybersecurity is facing some turbulence as it will likely miss Wall Street’s estimate of $5.4 billion for the year.
Despite the good start of year with a +68% rally making new all time highs, the stock erased all those gains in the second half of this year. Let’s dive into the technical chart and understand the current Elliott Wave structure taking place.
FTNT Monthly Elliott Wave Chart 11.9.2023


The above chart is a representation for the entire Monthly cycle for FTNT. We can see how an impulsive 5 waves rally off the lows ended wave (I). Since the July 2023 peak, the stock started a larger degree correction of the entire cycle and it’s looking to unfold as an (abc) Zigzag structure within wave (II). The pullback is still in progress in wave “c” and it’s looking for the equal legs area $40.49 – $24.93. Once it reaches that area, the stock will be looking to turn higher from there to resume the bullish trend.
Here is the basic Elliott Wave Theory Pattern


The graph above shows the five waves advance, and each leg subdivides into a lower degree five waves. It is a fractal pattern which repeats in each degree from the Grand Supercycle until the lower degree of the subminute. The chart is clear; each cycle is in five waves, and each pullback in three, but always in the direction of the trend.
In conclusion, the long term technical picture for FTNT remains bullish and investors should be on the lookout for the blue box area as a monthly buying opportunity.

Get more insights about the Technology Sector and learn how to trade our blue boxes using the 3, 7 or 11 swings sequence by trying out our services 14 days . You will get access to our 78 instruments updated in 4 different time frames, Live Trading & Analysis Session done by our Expert Analysts every day, 24-hour chat room support and much more.
Source:https://elliottwave-forecast.com/sto...unity-horizon/

AUDJPY Elliott Wave Support Area For More Upside

AUDJPY has a higher high bullish sequence from 7.28.2023 low favoring further upside with 100% – 161.8% target towards 98.08 – 101.23. Short term, the rally from 10.3.2023 low is unfolding as a 5 waves impulse. Up from 10.3.2023 low, wave ((i)) ended at 95.825 and pullback in wave ((ii)) ended at 94.227 as the 1 hour chart. Pair then resumed higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 95.36 and dips in wave (ii) ended at 94.63. Pair then resumed higher in a nest. Up from wave (ii), wave i ended at 95.52 and wave ii ended at 94.82. Wave iii ended at 97.32, pullback in wave iv ended at 96.99, and final leg wave v ended at 97.506 which completed wave (iii).

Dips in wave (iv) ended at 97.106 and final wave (v) higher ended at 97.595 which completed wave ((iii)). Pullback in wave ((iv)) is in progress as a zigzag structure. Down from wave ((iii)), wave (a) ended at 96.39 and rally in wave (b) ended at 97.095. Wave (c) lower is in progress as a 5 waves impulse. Down from wave (b0, wave i ended at 96.515 and rally in wave ii ended at 97. Pair resumed lower in wave iii, then bounce in wave iv, before another leg lower in wave v to complete wave (c) of ((iv)). Potential support area for wave ((iv)) is 100% – 161.8% Fibonacci extension from 11.7.2023 high which comes at 95.15 – 95.89. Near term, as far as pivot at 94.21 stays intact, expect dips to find support in 3, 7, 11 swing for further upside.

AUDJPY 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

AUDJPY Elliott Wave Video


Source: https://elliottwave-forecast.com/new...t-area-upside/
Get 14 days Trial --> Click Here

Shopify (SHOP) Daily Bullish Structure Leading the Way
November 3, 2023 By EWFAyoub
Shopify (NYSE: SHOP) is a cloud-based commerce platform that provides software for building and operating e-commerce businesses. In Q3 FY2023, Shopify’s revenue was up 25% YoY and gross profit was up 36% YoY. The company also reported positive free cash flow for the fourth consecutive quarter, which reached 16% of revenue.
After the news, SHOP surged +22%. We believe that technical aspects rule the market and news is an after-fact event to drive the market into a predetermined direction. Based on the Elliott Wave Theory, it is possible to define the current structure taking place within the daily cycle and predict what the market is looking for in the future.
The main daily cycle started on the 13th of October 2022 at $23.63 low. It unfolded within an impulsive 5 waves structure which ended on the 14th of July at $71.43 peak. This move is proposed to be wave I and the decline from July peak was the wave II. The move lower unfolded as a 3 waves ZigZag structure and managed to reach the Blue Box at equal legs area $47 – $42. From there, a strong reaction to the upside took place. If the next pullback remains supported above $45.5, it could be the start of the wave III. In that case, the stock is expected to surge above July peak, creating a new bullish sequence. It will be aiming for a higher target at the $93 – $122 area.
Shopify Daily Chart 11.3.2023


If the current rally fails to break above $71.43, then the proposed wave II may still be in progress within a potential Double Three corrective structure. This suggests that another 3 waves lower will take place to finish the entire 7 swings structure from July peak. As a result, another investment opportunity for the stock could arise because another extreme blue box area may be available for buyers to join the daily cycle.
Shopify Daily Chart ( Double Three Correction )


The following video offers a daily outlook and investment potential using Shopify’s Elliott Wave analysis, alongside potential scenarios that could affect the outcome.
https://elliottwave-forecast.com/wp-...3-SHOP.mp4?_=1
Source:https://elliottwave-forecast.com/vid...ish-structure/

$DKNG: DraftKings Offers an Opportunity in a Pullback
November 5, 2023 By EWF Helgi
DraftKings is an US American daily fantasy sports contest and sports betting company. The company allows users to enter daily and weekly fantasy sports–related contests and win money based on individual player performances in five major American sports, Premier League and UEFA Champions League football, NASCAR auto racing and more. Founded in 2012 and headquartered in Boston, Massachusetts, USA, the stock can be traded under ticker $DKNG at NASDAQ.
DraftKings Weekly Elliott Wave Analysis 11.05.2023
The Weekly chart below shows the Draftkings shares $DKNG traded at NASDAQ. From the IPO, the stock price has developed an impulse higher in blue wave (I) of a super cycle degree. It has printed the all-time highs on the March 2021 at $74.38. Hereby, red wave III has reached more than 1.618x of the wave I and ending diagonal in red wave V beyond 2.0x of the wave I. From the highs, a correction lower in blue wave (II) has unfolded as an Elliott wave zigzag pattern. Firstly, red wave a has printed a low in May 2021 at $39.93. Secondly, from the low, red wave b reached higher towards September 2021 highs and became a bull trap. Thirdly, from $64.58 highs, red wave c has broken below $39.93 lows. It has reached into 30.09-8.76 bluebox support area.
It is the the preffered view, that correction in blue wave (II) has ended in May 2022. While above 9.77 lows, next bullish cycle in blue wave (III) has started. The target will be towards 84-130 area and beyond. In shorter cycles, red wave I is unfolding as an impulse. While above $25.41 lows, black wave ((5)) of red wave I can extend higher and reach 37-40 area. Then pullback in red wave II should correct part of the rise in the red wave I from May 2022 lows. Investors and traders should be waiting for red wave I to end. Then, pullback in wave II is a buying opportunity in 3, 7 swings against $9.77 lows.


DraftKings Video Elliott Wave Analysis 11.05.2023
Let us discuss in a video the wave structure, the sequences, short-term setups and long-term investment opportunities in the stock price action of the Draftkings stock ($DKNG).

Get more insights about Stocks and ETFs by trying out our services 14 days . You’ll learn how to trade the market in the right side using the 3, 7 or 11 swings sequence. You will get access to our 78 instruments updated in 4 different time frames, Live Trading & Analysis Session done by our Expert Analysts every day, 24-hour chat room support and much more.
Source:https://elliottwave-forecast.com/vid...s-opportunity/

Invesco Nasdaq ETF ($QQQ) Reacted Higher After a Corrective Pull Back.
November 6, 2023 By EWFTaha
Hello everyone. In today’s article, we will look at the past performance of the 4H Hour Elliott Wave chart of Invesco Nasdaq ETF ($QQQ). The rally from 10.13.2022 low unfolded as a 5 wave impulse. So, we expected the pullback to unfold in 7 swings and find buyers again. We will explain the structure & forecast below:
$QQQ 4H Elliott Wave Chart 10.26.2023:


Here is the 4H Elliott Wave count from 10.26.2023. The rally from 10.13.2022 peaked at red I at $388.05 and started a pullback to correct it. We expected the pullback to find buyers at ((W)) in 7 swings at $347.86 – 327.32.
$QQQ 4H Elliott Wave Chart 11.02.2023:


Here is the 4H update from 11.02.2023 showing the bounce taking place as expected. The ETF reacted higher after reaching the equal legs area allowing longs to get a risk free position. We expect the ETF to continue higher to correct July 2023 peak in 3 swings before resuming the downside.
$QQQ Elliott Wave Video Analysis
https://elliottwave-forecast.com/wp-..._25_53.mp4?_=1

Elliott Wave Forecast
We cover 78 instruments, but not every chart is a trading recommendation. We present Official Trading Recommendations in the Live Trading Room. If not a member yet, Sign Up for Free 14 days Trial now and get access to new trading opportunities.
Welcome to Elliott Wave Forecast!
Source:https://elliottwave-forecast.com/vid...ive-pull-back/

Australian Securities Exchange Ltd (ASX) Correction Remains in Progress.
November 6, 2023 By EWFTaha
Hello Traders! Today, we will look at the Elliott Wave structure of Australian Securities Exchange Ltd (ASX) and explain why more downside can happen before higher soon.
Australian Securities Exchange Ltd (ASX) is an Australian public company that operates Australia’s primary securities exchange. The ASX was formed on 1 April 1987, through incorporation under legislation of the Australian Parliament as an amalgamation of the six state securities exchanges, and merged with the Sydney Futures Exchange in 2006. Today, ASX has an average daily turnover of A$4.685 billion and a market capitalization of around A$1.6 trillion, making it one of the world’s top 20 listed exchange groups, and the largest in the southern hemisphere.
Third Wave Extension


Different Types of Wave Extensions


Before we deep dive into the chart, I want to explain that the overall structure looks like a nest. A nest is a series of 1-2. Most of the time a nest happens before a huge move takes place. The chart above shows what a nest looks like.
ASX Monthly Elliott Wave View Nov 06 2023:


The Monthly chart above shows the Super cycle from 2009 lows at $3120.80 unfold in a 5 wave diagonal structure suggesting a bullish sequence. The rally peaked on Feb 2020 and started the pullback to correct the 2009 cycle. The pullback found a low in March 2020 at blue (II) and rallied again in 5 waves making a new All Time High in August 2021. This created another bullish sequence against March 2020 lows. The pullback to correct March 2020 is still unfolding in a corrective manner (WXY). We have completed 2 out of 3 legs down and missing the final move lower into a blue box area at $6345.20 – 5589.90 where we expect buyers to enter for a reaction higher and eventually take it to new all time highs again.

ASX Elliott Wave Video Analysis
https://elliottwave-forecast.com/wp-..._20_21.mp4?_=1
We cover 78 instruments, but not every chart is a trading recommendation. We present Official Trading Recommendations in the Live Trading Room. If not a member yet, Sign Up for Free 14 days Trial now and get access to new trading opportunities.
Welcome to Elliott Wave Forecast!
Source:https://elliottwave-forecast.com/vid...ains-progress/

Silver (XAGUSD) Ended Correction and Turned Higher


Silver (XAGUSD) cycle from 10.3.2023 low is in progress as an impulse. Up from 10.3.2023 low, wave (1) ended at 23.69 and pullback in wave (2) is proposed complete at 21.86. Down from wave (1), wave W ended at 22.52 and rally in wave X ended at 23.3. Internal subdivision of wave X unfolded as a zigzag structure. Up from wave W, wave ((a)) ended at 23.12, wave ((b)) ended at 22.57, and wave ((c)) ended at 23.3. This completed wave X in higher degree.

The metal then extended lower in wave Y. Down from wave X, wave ((a)) ended at 22.28, and wave ((b)) rally ended at 22.98. Wave ((c)) lower ended at 21.86 which also completed wave Y of (2) in higher degree. The metal has turned higher in wave (3). A break above wave (1) at 23.69 will confirm this view. Up from wave (2), expect wave (i) to end soon, then it should pullback in wave (ii) to correct the rally in wave (i) before the metal resumes higher again. Near term, as far as pivot at 21.86 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.

Silver 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

Silver (XAGUSD) Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...-turns-higher/
Get 14 days Trial --> Click Here

USDX Elliott Wave: Forecasting The Bounce After Flat Pattern
November 13, 2023 By EWF Vlada
In this technical article we’re going to take a look at the Elliott Wave charts charts of Dollar Index published in members area of the website. As our members know USDX has ended cycle from the 99.5 low as 5 waves structure. We were calling cycle completed at the 107.34 peak. Recently Dollar has reached extreme zone, equal legs area from the 107.34 peak and completed the short term cycle as Elliott Wave Flat.
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. 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 below the starting point of wave A. Wave C ends above 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 up to 1.618 fibs ext.
You can learn more about Elliott Wave Flat Patterns at our Free Elliott Wave Educational Web Page.
At the graphic below, we can see what Expanded Flat structure looks like


USDX Elliott Wave h4 Chart 11.04.2023
Elliott wave view suggests cycle from the 107.34 peak is unfolding as Flat Pattern. We can notice that inner subdivisions of ((a)) and ((b)) black are having corrective sequences. . Wave ((c)) leg should ideally complete as 5 waves soon. Extreme zone, equal legs is already reached at 105.1 area. We expect to see short term bounce in (iv) and another leg down to complete 5 waves in ((c)) wave. We expect Dollar to complete cycle from the peak at 105.1-103.85 area as Flat Pattern. That zone should find buyers for a 3 waves bounce X red.


USDX Elliott Wave h4 Chart 11.11.2023
Dollar index made 5 waves down in ((c)) leg and completed Flat Pattern at 104.85 low. Current view suggests we are in X red connector. The price structure shows higher high sequences from the 104.85 low, suggesting we are potentially still in ((c)) of X that can see approximately 106.4-106.6 area.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.



Elliott Wave Forecast
We cover 78 instruments in total, but not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room. If not a member yet, Sign Up for 14 days Trial now and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy.
Please keep in mind that we don’t make the market and our forecasts don’t have 100% accuracy. However, we do have a system which allows us to get out Risk Free + cash partial profit from the trade, even if primary analysis gets wrong. Join us now and start learning from market experts.
Welcome to Elliott Wave Forecast !
Source:https://elliottwave-forecast.com/ell...-flat-pattern/

GBPUSD Short Term Elliott Wave Structure Suggests Further Upside

GBPUSD shows a 5 swing sequence from 10.4.2023 low favoring further upside. The rally from 10.4.2023 low takes the form of a double three Elliott Wave structure or a double zigzag. Up from 10.4.2023 low, wave W ended at 1.24.28 and dips in wave X ended at 1.2186. Internal subdivision of wave X unfolded as a zigzag Elliott Wave structure. Down from wave W, wave ((a)) ended at 1.224 and wave ((b)) ended at 1.2309. Wave ((c)) lower ended at 1.2187 which completed wave X.

Pair has since turned higher in wave Y. Internal subdivision of wave Y is unfolding as another zigzag structure. Up from wave X, wave (i) ended at 1.2308 and wave (ii) pullback ended at 1.2275. Wave (iii) higher ended at 1.2506, and wave (iv) ended at 1.2478. Expect pair to extend higher in wave (v) to end wave ((a)). Afterwards, it should pullback in wave ((b)) to correct cycle from 11.10.2023 low before the rally resumes. Near term, as far as pivot at 1.2187 low stays intact, expect dips to find support in 3, 7, 11 swing for further upside. Potential target higher is 100% – 161.8% Fibonacci extension of wave W. This area comes at 1.257 – 1.282.

GBPUSD 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

GBPUSD Elliott Wave Video


Source: https://elliottwave-forecast.com/new...ggests-upside/
Get 14 days Trial --> Click Here