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Tesla Inc. ($TSLA) Reacting Higher From Another Extreme Area.
November 13, 2023 By EWFTaha
Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of Tesla Inc. ($TSLA). The rally from 10.31.2023 low unfolded as a 5 wave impulse. So, we expected the pullback to unfold in 3 swings (ABC) and find buyers again. We will explain the structure & forecast below:
$TSLA 1H Elliott Wave Chart 11.10.2023:
Here is the 1H Elliott Wave count from 11.10.2023. The 5 waves rally from $193.86 peaked at blue (A) and started a pullback to correct it. We expected the pullback to find buyers at (B) in 3 swings at $212.13 – 204.70.
$TSLA 1H Elliott Wave Chart 11.12.2023:
Here is the 1H update from 11.12.2023 showing the bounce taking place as expected. The stock reacted higher after reaching the equal legs area allowing longs to get a risk free position. We expect the stock to continue higher towards 238 – 258 before a pullback can happen. Alternatively, if the stock is unable to break above $227 at blue (A) then a double correction lower can happen (WXY) before higher.

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Nifty Producing Strong Reaction Higher From Blue Box Area
November 14, 2023 By Hassan Sheikh
In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of the Nifty index. We presented to members at the elliottwave-forecast. In which, the rally from the 17 June 2022 low is unfolding as an impulse structure. Showing a higher high sequence 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:
Nifty 4-Hour Elliott Wave Chart From 10.26.2023


Here’s the 4-hour Elliott wave chart from the 10/26/2023 update. In which, the cycle from the 9/30/2022 low ended in a bigger wave (3) as an impulse structure at 20222.45 high. Down from there, the index made a pullback in wave (4) to correct that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where wave A ended at 19333.60 low. While wave B bounce ended at 19849.75 high. Then wave C managed to reach the blue box area at 18950.38- 18392.91. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.
Nifty Latest 4-Hour Elliott Wave Chart From 11.13.2023


This is the latest 4-hour Elliott wave Chart from the 11/13/2023 update. In which the index shows a reaction higher taking place, right after ending the zigzag 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 the 20222.45 high is still needed to confirm the next extension higher & avoid a double correction lower.
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Source:https://elliottwave-forecast.com/sto...action-higher/

Platinum (PL) Ended Correction and Turning Higher
November 14, 2023 By EWFHendra
Platinum (PL) may have ended the correction to the cycle from 9.1.2022 low and in the early stage of turning higher. If the pivot on September 2022 low at 796.8) breaks, it suggests a bigger correction against March 2020 low within wave (II) which is not our primary view at the moment. In the higher time frame, the metal is in a bullish grand super cycle move higher against March 2020 low.
Platinum (PL) Monthly Elliott Wave Chart


Monthly chart of Platinum above shows that the metal ended wave ((II)) at 562 during the Covid-19 crash. It has since turned higher in wave ((III)). Up from wave ((II)), the rally is in progress as an impulse. Wave (I) of ((III)) ended at 1348.2 while dips in wave (II) of ((III)) ended at 796.8. The metal has since turned higher in wave (III). Up from wave (II), wave ((1)) ended at 1148.9 and dips in wave ((2)) might have ended at 843.1. The metal can be in the early stage of the next leg higher.
Platinum (PL) Daily Elliott Wave Chart


Daily chart of Platinum above shows that the metal ended wave (II) at 796.8 and turned higher in wave (III). Up from wave (II), wave ((1)) ended at 1148.9 and dips in wave ((2)) ended at 843.1. Expect the metal to extend higher while it stays above 796.8 in the first degree. If the metal breaks below 796.8, then it will do a double correction against March 2020 low at 562.
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Source:https://elliottwave-forecast.com/com...urning-higher/

CHFJPY Impulse Structure Should Extend Higher

CHFJPY continues to make a sequence of higher high suggesting the pair is in a bullish market. Recent impulsive move higher looks incomplete and pair should continue to extend higher. Sequence from 10.3.2023 low is in progress as an impulse Elliott Wave structure. Up from 10.3.2023 low, wave 1 ended at 168.41 and dips in wave 2 ended at 164.96. Pair has resumed higher in wave 3 with internal subdivision as an impulse structure in lesser degree.

Up from wave 2, wave ((i)) ended at 167.22 and pullback in wave ((ii)) ended at 165.69 as the 1 hour chart below shows. Up from there, wave (i) ended at 168.4 and dips in wave (ii) ended at 167.49. Pair rallies higher in wave (iii) towards 169.82 and dips in wave (iv) ended at 169.08. Wave (v) higher ended at 170.535 which completed wave ((iii)) in higher degree. Pullback in wave ((iv)) is in progress to correct cycle from 11.3.2023 low before the rally resumes. Near term, as far as pivot at 165.69 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside. Potential support for wave ((iv)) comes at 23.6 – 38.2% Fibonacci
retracement of wave ((iii)). This area comes at 168.7 – 169.4.

CHFJPY 60 Minutes Elliott Wave Chart

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CHFJPY Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...extend-higher/

Russell 2000 Futures (RTY) Turning Lower After 3 Waves Rally

Russell 2000 Futures (RTY) rally from 10.28.2023 low has ended in 3 waves at the 100% – 161.8% Fibonacci extension. This suggests that the rally is corrective in nature. Up from 10.28.2023 low, wave A ended at 1779.6. Pullback in wave B ended at 1687.40 with internal subdivision as a zigzag Elliott Wave structure. Down from wave A, wave ((a)) ended at 1727.10 and rally in wave ((b)) ended at 1746.8. Wave ((c)) lower ended at 1687.40 and this completed wave B in higher degree.

The Index then turned higher in wave C. Up from wave B, wave ((i)) ended at 1717.10, and dips in wave ((ii)) ended at 1694.5. Index extended higher in wave ((iii)) towards 1824.80 and pullback in wave ((iv)) ended at 1801.60. Final leg wave ((v)) ended at 1838.50 which completed wave C of (2) in higher degree. The Index has turned lower in wave (3). Down from wave (2), wave (i) ended at 1799.40 and rally in wave (ii) ended at 1813.50. Index extended lower in wave (iii) towards 1770.50. Expect wave (iv) rally to be followed with wave (v) lower to end wave ((i)). Afterwards, it should rally in wave ((ii)) to correct cycle from 11.16.2023 high in 3, 7, or 11 swing before it resumes lower again.

Russell 2000 Futures (RTY) 60 Minutes Elliott Wave Chart

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RTY_F Elliott Wave Video


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Source: https://elliottwave-forecast.com/new...3-waves-rally/

Bitcoin BTCUSD Buying The Dips At The Blue Box Area
November 16, 2023 By EWF Vlada
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 cycle from the 24955.26 low that were 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 1 Hour Chart 11.04.2023
BTCUSD is giving us correction that is unfolding as a Zig Zag pattern. At the moment structure is still incomplete. Bitcoin can see more downside toward 35173.76-33717.907 blue box ( buying zone). We don’t recommend selling Bitcoin and prefer the long side. From the marked zone, BTCUSD should ideally make either rally toward new highs or in 3 waves bounce alternatively. Once bounce reaches 50 Fibs against the (b) blue high 37547, we will make long position risk free ( put SL at BE) and take partial profits.
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.


Bitcoin ( BTCUSD ) Elliott Wave 1 Hour Chart 4.14.2023
BTCUSD made extension toward our buying zone : 35173.76-33717.907. Bitcoin found buyers at the blue box as expected and we got good reaction from there , 5 waves impulsive rally that retested previous peak. Currently doing short term pull back against the 34805.11 low that can see approximately 36506-35663 area. As far as the pivot at 34805.11 low holds, we can see further rally once short term pull back completes.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels 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
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Source:https://elliottwave-forecast.com/tra...blue-box-area/

$UNA : Unilever Heading for a Thrust out of Bullish Triangle
November 16, 2023 By EWF Helgi
Unilever is a multinational consumer goods corporation. Unilever products include food, condiments, ice cream, coffee, cleaning agents, pet food, beauty products, personal care and more. Founded 1919 by the merger of the Dutch margarine producer Margarine Unie and the British soapmaker Lever Brothers, it is headquartered in London, UK. Unilever is a part of FTSE 100, AEX and Eurostoxx 50 indices. Investors can trade it under the tickers $ULVR at LSE, $UNA at Euronext Amsterdam and under $UL at NYSE. Corporation Unilever owns over 400 brands. Among them, the trademarks like Dove, Omo/Persil, Knorr, Lipton, Magnum, Rexona/Degree and others. The company products are present in 190 countries.
The stock price of Unilever is in a permanent rally from the all-time lows. From march 2020 bottom, one can see a new cycle higher. This might be the final push higher within the larger cycle. Once ended, Unilever should pull back against the all-time lows which will provide again an opportunity to join the success story of Unilever stock price action.
In the initial article from October 2021, we have provided with an area where investors can join the rally. As a matter of fact, the price made a dip into 40.36-38.42 area and reacted higher. In the last article from February 2023, we have explained that short term pullbacks should find support in 3, 7 swings. Now, we recognize the overall structure as a bullish triangle. Once ended, a thrust higher should take place.
Unilever Monthly Elliott Wave Analysis 11.14.2023
The monthly chart below shows the Unilever shares $UNA traded at Euronext Amsterdam. From the all-time lows, the stock price is within the larger impulse as wave ((I)). Hereby, Unilever has finished the waves (I)-(III) by printing the all-time high on September 2019 at 57.77. Within the impulsive advance in wave (III), the internals I and III are impulsive waves, too. From the September 2019 highs, a correction lower in wave (IV) is unfolding as a bullish triangle being 3-3-3-3-3 structure. Once ended, expect thrust higher in blue wave (V). The target for wave (V) is 62.33-69.72 area.


Unilever Weekly Elliott Wave Analysis 11.14.2023
The Weekly chart below shows the $UNA shares price action in more detail. In particular, it demonstrates the converging price action within a blullish triangle. Firstly, 3 swings lower of red wave a have ended on March 2020 at 38.42 lows. Secondly, a bounce in 3 swings of red wave b have set a lower high in December 2020 at 53.66. Thirdly, 7 swings (= 3 swings) of red wave c have printed a higher low in March 2022 at 39.36. Fourthly, 7 swings of red wave d have accomplished in April 2023 at 50.93 lower peak. Finally, red wave e is unfolding in another 7 swings and should find support above 39.36 lows. Then, blue wave (IV) should end and a rally towards new all-time highs should take place.
Investors and traders can be looking to buy $UNA in 7 swings against 39.36 lows targeting 62.33-69.72 area and even higher in the medium-term.


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Source:https://elliottwave-forecast.com/sto...lish-triangle/

Constellation Energy (CEG) Riding the Renewable Energy Bullish Wave
November 17, 2023 By EWFAyoub
Amid the global momentum toward sustainable energy, Constellation Energy (CEG) stands out as a dynamic player in the renewable sector. In this article, we explore CEG’s recent performance, analyze its technical structure, and highlight its promising potential for further growth.
Following its spinoff from Exelon Corporation (EXC) on February 1, 2022, Constellation Energy Corporation (CEG) commenced trading as an independent entity. Since then, CEG has actively participated in the stock market, experiencing a remarkable 160% increase.
CEG Elliott Wave Weekly Chart 11.17.2023


The stock rally, which has been unfolding since last year, follows an impulsive structure. Currently, it remains within wave III, targeting the equal legs area between $130 and $145. Anticipate a 3-wave pullback in wave IV before another upward rally to complete wave V of wave (I).
The bullish structure is anticipated to provide support for the stock during the upcoming daily correction wave (II). This correction phase ideally presents a buying opportunity for long-term investors, as the stock is poised to resume its trend within another impulsive rally.
In summary, Constellation Energy Corporation (CEG) leads the charge in the renewable energy revolution. Its spinoff from Exelon Corporation (EXC) was a pivotal moment, propelling the stock into impulsive waves. Investors should keep an eye out for buying opportunities during corrective phases. With unwavering commitment to clean energy and a dynamic market presence, CEG shines as a beacon for long-term growth in our ever-evolving energy landscape.
Source:https://elliottwave-forecast.com/sto...on-energy-ceg/

Gold (XAUUSD) Elliott Wave Impulse Breakout In Progress

Rally from 9.28.2022 low is currently in progress as a 5 waves Elliott Wave impulse structure. Up from 9.28.2022 low, wave (1) ended at 2081.82 and pullback in wave (2) ended at 1810.58. The metal has resumed higher in wave (3). Internal subdivision of wave (3) is unfolding as another impulsive structure in lesser degree. Up from wave (2), wave ((i)) ended at 1941.95 and wave ((ii)) ended at 1931.4. Wave ((iii)) higher ended at 1975.30 and dips in wave ((iv)) ended at 1955.33.

Wave ((v)) higher ended at 1993.42 and this completed wave 1 in higher degree. Down from wave 1, wave ((a)) ended at 1972.90 and rally in wave ((b)) ended at 1985.16. The metal then extends lower in wave ((c)) towards 1965.30 which completed wave 2 in higher degree. The metal then turns higher in wave 3. Up from wave 2, wave ((i)) is expected to end soon, then it should pullback in wave ((ii)) before the metal resumes higher again. Near term, as far as pivot at 1927.85 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

Gold (XAUUSD) 60 Minutes Elliott Wave Chart

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Gold Elliott Wave Video


Source: https://elliottwave-forecast.com/new...kout-progress/
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Travelers (TRV) Looks Like Will Make A Double Correction Lower
November 20, 2023 By EWFLuis
The Travelers Companies, Inc., TRV, is an American insurance company. It is the second-largest writer of U.S. commercial property casualty insurance, and the sixth-largest writer of U.S. personal insurance through independent agents.
Weekly TRV Chart July 2023


TRV ended a great super cycle in the year of 2019 reaching a peak at $154.86 which we call the wave ((I)). Then the market made a quick and strong correction driven by the COVID19 pandemic in 2020. The company lost 50% of its value reaching $76.99 per share in March. This culminated wave ((II)) and we are currently building wave ((III)). Wave (I) of ((III)) ended at $194.51 in January 2023 building an impulse and it has been correcting in wave (II) of ((III)) ever since.
Weekly TRV Chart November 2023


The new chart above shows that TRV continued lower as expected. However, given the market conditions in this month looks like is going to correct the cycle from January 2023 high. Therefore, we can see clearly 3 waves lower from the peak and the stock should make 3 waves higher before resuming to the downside. There are 2 structures to use in this case, a flat correction or a double correction. The flat correction has a structure of 3-3-5 and the double correction is 3-3-3. The only difference is the end of the structure, but either way the stock should turn lower again.
Wave ((A)) of (II) fell to the price of $161.33 in March and the rebound as wave ((B)) ended at $185.77. The last swing lower as wave ((C)) ended in October 23rd at 157.33 and also ended wave “w”. From here, TRV made a strong rally that should continue until wave “x” is completed. As long as the price action is below wave (I) peak, we expect to continue to the downside building 3 waves lower as “y” of (II). (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory)
Source: Travelers (TRV) Looks Like Will Make A Double Correction Lower. (elliottwave-forecast.com)
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Source:https://elliottwave-forecast.com/sto...le-correction/

VanEck Gold Miners ETF ($GDX) Keeps Finding Buyers at Extreme Areas.
November 20, 2023 By EWFTaha
Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of VanEck Gold Miners ETF ($GDX). The rally from 10.04.2023 low unfolded as a 5 wave impulse. So, we expected the pullback to unfold in 3 swings and find buyers again. We will explain the structure & forecast below:
$GDX 1H Elliott Wave Chart 11.14.2023:
Here is the 1H Elliott Wave count from 11.14.2023. We expected the pullback to find buyers at (2) in 3 swings (ABC).
$GDX 1H Elliott Wave Chart 11.19.2023:
Here is the 1H update from 11.19.2023 showing the bounce taking place as expected. The ETF reacted higher after reaching the equal legs area from 10.20 peak allowing longs to get a risk free position. We expect the ETF to continue higher as long as $27.01 remains intact.
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Source:https://elliottwave-forecast.com/sto...extreme-areas/

Hard Red Winter Wheat: Buying Weekly Pullbacks
November 20, 2023 By EWF Helgi
Hard Red Winter Wheat is one of the grain commodities, along with soft red wheat, corn, soybeans and others. Within the wheat family, first of all, there is a fundamental difference between two wheat types. Soft wheat is low in protein and is basically used in cakes in pastries. By contrast, hard wheat has a higher content of protein and it founds itself in breads and hard baked goods. Some time ago, trading of hard wheat took place at Kansas City Board of Trade. Then, it moved to Chicago. One can trade hard wheat futures at Chicago Board of Trade under the ticker $KE. Hereby, the contract size is 5’000 bushels (300’000 pounds) each and the prices are in Dollars US per 100 bushel.
In the initial article from September 2021, we saw prices climbed from 524 USD in December 2020 towards 738 USD by August 2021. There, we have forecasted a rally towards 1’000 USD and higher to take place. We were right. In May 2022, hard red winter wheat has printed a highest price since a good decade at 1225. Then, we saw a short term pullback taking place. In the last article from July 2022, we have proposed a correction as an expanded flat structure against August 2019 lows. As a matter of fact, pullback took a larger scale and the market is correcting against October 2016 lows as an Elliott wave zigzag pattern. In the current blog, we discuss the wave structure, support area and the targets.
Hard Red Winter Wheat Weekly Elliott Wave Analysis 11.20.2023
The weekly chart below shows the Hard Winter Wheat front contract IH #F. From the all-time lows, the prices have developed a cycle higher in black wave ((w)) of a grand super cycle degree. It has ended in March 2008 at 1290 Dollars. From the highs, a correction lower in wave ((x)) has unfolded as an Elliott Wave double three pattern. In only 8 years, in fact, IH #F has lost more than 3/4 of the price reaching 296 Dollars per 100 bushel. It is the preferred view that an important bottom on October 2016 has been set and the black wave ((x)) has ended.
From the lows, consequently, a new rally within black wave ((y)) has started. Similarly to the wave ((w)), wave ((y)) should see 3 swings up. Hereby, 1st swing within the super cycle degree wave (a) has already ended. It has reached 0.618-0.786 multiples of the wave ((w)). Now, pullback in wave (b) should find support in 3, 7 swings against October 2016 lows. Then, final push higher in the 3rd swing as blue wave (c) of black wave ((y)) should take place targeting 1585-2382 area.
From the October 2016 lows, blue wave (a) demonstrates a textbook quality impulse. In fact, red wave III shows an extension beyond 2.618x of the wave I. Indeed, extension is a characteristic feature of impulsive waves. Blue wave (a) has printed a top in May 2022 at $1225. From the highs, consolidation in blue wave (b) is taking place. Firstly, red wave a has printed a low in August 2022 at 777. Secondly, bounce in red wave b has set a connector in October 2022 at 923 highs. Thirdly, price has broken 777 lows opening up a bearish sequence. Now, red wave c should reach 543-296 area.
Investors and traders can be looking to buy IH #F ($KE) from 543-296 area. For 2024-2030, the expectations are to break to the new all-time highs. The long-term target for wave (c) to end will be 1585-2382 area.


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Source:https://elliottwave-forecast.com/com...heat-pullback/

$USDMXN: How the Path of the Pair Correlates with World Indices
November 21, 2023 By EWF Eric
$USDMXN has been trading lower since the peak at 04.2020. We have been waiting for the area between $15.98-$12.14 to be reached. The pair is important because of the correlation with the $USDX and the implication across the Market. Here is the Weekly chart for the pair and the $USDX showing the correction and the cycle since 2020.
Correlation of $USDX and $USDMXN


Weekly chart of the 2 instrument above shows the decline as simple zigzag. Zigzag or ABC is a 5-3-5 structure. Each leg comes in a subdivision of 5 waves. We at EWF believe the market has turned into a High-Frequency market, as explained in the following article. We are expecting the instrument to bounce in three waves from the target blue box area as the following chart shows
$USDMXN Weekly Elliott Wave Chart


The $USDMXN weekly chart above shows the decline to the area we highlighted as a Blue Box. This area provides at least a bounce or a reaction 85% of the time. As we can see, the pair should be trading within wave ((5)) of c. Currently, it might be ending the first leg of wave ((5)). The path of $USDMXN will make the $USDX lower and supports the Indices higher, as this is the Market dynamic and correlation.
$USDMXN 4 Hour Elliott Wave Chart


The 4 hour chart above shows wave (1) of ((V) since the peak. The chart reveals a five-waves decline since the peak at 10.06.2023. Even when a three waves pullback soon should happen, more downside should play out afterwards. It confirms our view of more downside into the Blue Box in the higher time frame. As we always do at EWF, we use correlation to pick the most realistic path even when five waves can be seen in some Indices, Stocks, and ETFs since the lows of 03.2020. Here is an example of an Index showing five waves off the lows at 03.2020. The IBEX35, the Index from Spain, shows a clear five-wave advance off the lows, as shown in the following chart
$IBEX35 Weekly Elliott Wave Chart


The weekly chart of $IBEX above shows a 5 waves rally from 03.2020 low. As mentioned above, we can label the Ibex35 completed, but looking at $USDMXN, it is safe to say that more upside within wave ((5)) should happen in the Index. The following chart shows the Ibex35 off the lows
$IBEX35 4 hour Elliott Wave Chart


The 4 hour chart of IBEX above shows an impulse since the low 10.26.2023. This is in total agreement with the $USDMXN. Looking at $USDMXN, we should call the advance of Ibex35 as wave (1) of ((V)). This will form a perfect alignment across the Market.
$USDMXN and $IBEX35 Correlation


The chart above shows an overlay between $IBEX35 and $USDMXN. It offers a complete agreement in both instruments since 03.2020 low. Our expectation is a continuation of this correlation. We do also understand that a bounce off the $USDMXN off the Blue Box will place World Indices at a risk of a correction. Thus, year 2024 can end up being a very interesting year for the USDX and also the Indices.
Source:https://elliottwave-forecast.com/sto...world-indices/

Silver XAGUSD Found Intraday Buyers At The Equal Legs Area
November 21, 2023 By EWF Vlada
Hello fellow traders. In this article we’re going to take a quick look at the Elliott Wave charts of Silver, published in members area of the website. As our members know Silver has recently made a short term 3 waves pull back that has reached its target area and found buyers. In the further text we are going to explain the Elliott Wave Forecast.
Silver 1 Hour Elliott Wave Analysis 11.20.2019
Silver ended cycle from the 21.85 low as 5 waves structure, labeled as wave 1 red. Currently doing wave 2 red pull back which is showing incomplete structure. Lower low sequences from the peak suggests we are still in ((c)) leg which should ideally give us more weakness toward 23.21-22.84 area. At that area we expect buyers to appear for proposed rally or 3 wave bounce alternatively. Although we expect to see another marginal push down, we advise members to avoid selling against the main bullish trend. We favor the long side from the marked equal legs area. As our members know, Equal Legs are no enemy areas , giving us 85% chance to get a bounce.


Silver 1 Hour Elliott Wave Analysis 11.21.2019
Pull back completed right at equal legs zone at 23.21-22.84 . Silver found buyers at the marked zone and we are getting good reaction from there. Rally from the buyers zone reached 50fibs against the ((b)) high, so any longs should be risk free by now. We count Wave 2 red pull back completed at the 23.25 low. Alternatively if that level gets broken, Silver can make deeper pull back toward 22.92-22.71 area.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels 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 Free 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.
Welcome to Elliott Wave Forecast !
Source:https://elliottwave-forecast.com/com...silver-xagusd/

Oil (CL) Short Term Impulsive Structure Suggests Further Upside

Oil (CL) ended cycle from 9.28.2023 high as a 5 waves impulse. Down from 9.28.2023 peak, wave 1 ended at 81.5 and rally in wave 2 ended at 90.78. The instrument then extended lower in wave 3 towards 74.91. The 1 hour chart below shows the move down ending wave 3. Then it corrected in wave 4 which ended at 79.77. Oil then resumed lower in wave 5 towards 72.16 and this completed wave (A) in higher degree.

Wave (B) rally is presently in progress as a zigzag Elliott Wave structure ABC. Up from wave (A), wave (i) ended at 73.21 and pullback in wave (ii) ended at 72.75. Oil extended higher in wave (iii) towards 76.63 and dips in wave (iv) ended at 76.20. Final leg wave (v) ended at 78.22 which completed wave ((i)). Pullback in wave ((ii)) is currently in progress to correct rally from 11.17.2023 low before it resumes higher. Down from wave ((i)), wave (a) ended at 76.92. While below wave ((i)) at 78.22, expect Oil to turn lower again in wave (c) of ((ii)) before it resumes higher. Near term, as far as 11.17.2023 pivot at 72.14 holds, expect pullback to find support in 3, 7, or 11 swing for further upside.

Oil (CL) 60 Minutes Elliott Wave Chart

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Oil (CL) Elliott Wave Video

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Silver (XAGUSD) Preparing for Breakout Higher


Silver (XAGUSD) shows a higher high (bullish) sequence from 10.3.2023 low favoring further upside. The rally higher from 10.3.2023 is unfolding as a 5 waves impulse. Up from 10.3.2023 low, wave (1) ended at 23.69 and pullback in wave (2) ended at 21.86 as the 1 hour chart below shows. Wave (3) higher is currently in progress with internal subdivision as an impulse in lesser degree. Up from wave (2), wave ((i)) ended at 22.47 and wave ((ii)) ended at 22.31.

Wave ((iii)) ended at 23.18, wave ((iv)) ended at 23.01, and final wave ((v)) higher ended at 24.14. This completed wave 1 in higher degree. Wave 2 pullback is currently in progress with internal subdivision as a double three. Down from wave 1, wave (a) ended at 23.54, wave (b) ended at 23.8, and wave (c) ended at 23.22. This completed wave ((w)). Wave ((x)) rally is proposed complete at 24.01. Expect the metal to turn lower in wave ((y)) towards the blue box area of 23.5 – 23.08. From this area, buyers should appear and the metal should resume higher. As far as pivot at 21.85 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.

Silver (XAGUSD) 60 Minutes Elliott Wave Chart

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Silver (XAGUSD) Elliott Wave Video


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EURJPY Elliott Wave : Buying The Dips At The Blue Box Area
November 22, 2023 By EWF Vlada
Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of EURJPY published in members area of the website. As our members know, the pair is showing impulsive bullish sequences that are calling for further strength. Our team recommended members to avoid selling , while keep favoring the long side. Recently we got correction that reached our buying zone. The pair found buyers and made reaction from the blue box as expected. In the further text we are going to explain the Elliott Wave Forecast and trading strategy.
EURJPY Elliott Wave 1 Hour Chart 11.21.2023
The pair is giving us wave (iv)) pull back that is unfolding as Double Three pattern. The price has reached extreme zone at 161.4-160.07 ( Blue Box – Buyers Zone). We don’t recommend selling the pair and prefer the long side from the blue box- equal legs zone. As the main trend is bullish , we expect to see at least 3 waves bounce from our buying zone. Once bounce reaches 50 Fibs against the (x) blue high , we will make long position risk free ( put SL at BE) and take partial profits. Invalidation for the long trades is break of 1.618 fib ext : 160.07
Quick reminder:
Our charts are easy to trade and understand:
Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.
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EURJPY Elliott Wave 1 Hour Chart 11.22.2023
The pair found buyers right at the Blue Box area : 161.4-160.07. Pull back completed at the 161.21 low and we are getting good reaction from the buying zone. Bounce reached and exceeded 50 fibs against the connector’s high. So members who took the long trade are enjoying profits now in a risk free positions. While above 161.21 low, next leg up could be in progress toward new highs.
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


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Source:https://elliottwave-forecast.com/tra...blue-box-area/

Nasdaq (NQ_F) Short Term Cycle is Mature and May See Pullback

Short Term Elliott Wave in Nasdaq Futures (NQ_F) shows cycle from October 27, 2023 low is unfolding as a 5 waves impulse. This cycle is mature even though it still can extend higher in the shorter cycle. Up from October 27 low, wave (1) ended at 15453.75 and pullback in wave (2) ended at 15207.75. The Index then extended higher in wave (3). Up from wave (2), wave 1 ended at 15612.75 and wave 2 ended at 15465.25.

Index extended to the upside and ended wave 3 at 16049.50. Wave 4 as triangle structure ended at 15887.25. Last push higher is still developing. We are calling an ending diagonal structure to end wave 5 of (3). The structure needs one more high to end the cycle and it could reach 16216.25 – 16280.25 area to finish wave (3). Once we watch a reaction lower, wave (4) correction should start in 3, 7, or 11 swing before further upside in wave (5). Near term, as far as pivot at 15206.46 low is holding, expect dips to find support in 3, 7, 11 swing for further upside. As an alternate, wave (5) can be ending with the new high and the Index should then see a bigger pullback to correct cycle from October 27 low.

Nasdaq (NQ_F) 60 Minutes Elliott Wave Chart

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Bank of America (BAC) Bearish Sequence Provides Floor for Indices
November 26, 2023 By Daud Bhatti
In this video blog, we will look at the bearish sequence in BAC (Bank of America) and present two views that are slightly different in terms of the extent of the bounce but both are calling for an extension lower. We will also look at the area that can act as a floor for BAC and where buyers should appear to resume the rally for the next long-term rally or produce 3 waves bounce at a minimum.
Bank of America Elliott Wave Sequence
The chart below is the weekly chart of Bank of America (BAC) and it shows an incomplete bearish sequence down from the January 2022 peak against the November 2022 peak. The initial decline from the January 2022 peak was in 5 waves which ended at $29.67 and wave (B) ended at $38.86 as a 3-3-5 FLAT correction. BAC has since then made a new low below $29.67 July 2022 low which created an incomplete bearish sequence and has opened an extension lower. Decline from (B) high is in 5 swings so as bounces fail below (B) high, expect more downside toward $18.35 – $13.51 area to complete the sequence from January 2022 peak and then BAC stock should turn up to resume the rally or put in a larger 3 waves bounce at least.



Bank of America (BAC) Extended Bounce View
The chart below shows the idea of an extended bounce in 7 swings before the decline resumes. $31.39 – $33.92 is the area to end 3 swings up from the low and from this area, stock could resume the decline for a new low or it could pull back in 3 waves and then do another 3 swings higher to complete 7 swings up from the low. In either case, as bounces fail below (B) high, expect more downside to take place.


[Video] BAC Video Elliott Wave Analysis
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Source:https://elliottwave-forecast.com/video-blog/bank-of-america-bearish-sequence/

$CLSK: Bitcoin Miner Cleanspark Heading to an Acceleration
November 26, 2023 By EWF Helgi
CleanSpark, Inc. is a bitcoin mining company. The Company designs its infrastructure and data centers to support Bitcoin which is a digital commodity and a tool for financial independence and inclusion. CleanSpark serves clients in the United States. Founded 2014 and headquartered in Henderson, Nevada, US, one can trade it under ticker $CLSK at NASDAQ. Currently, we see Bitcoin and some other cryptocurrencies turning for another bullish cycle higher. In fact, the rally in prices of cryptocurrencies should push higher and may even provide a magnifying effect on the share prices of cryptocurrency mining/producing companies. Therefore, CleanSpark being one of Bitcoin miners should become a profitable invetsment target as it should ramp up along with acceleration in Bitcoin prices.
CleanSpark Weekly Elliott Wave Analysis 11.26.2023
The weekly chart below shows the CleanSpark shares $CLSK traded at NASDAQ. First, from the all-time lows, the stock price has developed a cycle higher in blue wave (I). Hereby, $CLSK has printed the all-time highs in September 2018 at $150.10. From the highs, a correction lower in wave (II) has unfolded as a zigzag pattern being a 5-3-5 structure. It has found an important bottom in March 2020 at $0.97. As a matter of fact, in 18 months $CLSK has lost more than 99% off its peak value.
From the March 2020 lows, another motive cycle in blue wave (III) has started and is currently in the initial stages. We see already first nest consisting of red waves I-II in place. It has ended in December 2022. Now, acceleration higher in red wave III of blue wave (III) should take place. In the medium-term, the target will be 43.11-68.11 area and even higher. Later, expect red waves IV and V of blue wave (III) to follow. In the long run, the target for blue wave (III) is 151-244 area and beyond.


CleanSpark Daily Elliott Wave Analysis 11.26.2023
The daily chart below shows in more detail the initial stages of the red wave III. From the December 2022 lows, a bullish cycle in red wave 1 has unfolded as an impulse. Hereby, black wave ((v)) shows an extension. Red wave 1 has ended in July 2023 at $7.60. From the highs, the consolidation pattern in red wave 2 has unfolded as a zigzag pattern. Firstly, 5 waves of black ((a)) have found bottom in August 2023 at $4.91. Then, a bounce in black wave ((b)) has set a connector in the same month at $6.86. From there, black wave ((c)) has broken below 4.91 lows opening up a bearish sequence. The target being 4.16-2.50 area has been reached and the price is bouncing.
It is the preferred view that red wave 2 has ended in October 2023. While above $3.38, next bullish cycle in red wave 3 has started. The short-term target will be 9.25-12.88 area and even higher. For the long-term perspective, current prices below 6$ offer a great investment opportunity. While medium-term investors can expect 7 times reward on their risk, long-term reward reaches towards 25x and more as related to current engagement.


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