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

Selling Rallies Strategy is the Best Option to Trade AMC Entertainment
December 11, 2023 By EWFLuis
AMC Entertainment Holdings, Inc. is an American movie theater chain headquartered in Leawood, Kansas, and the largest movie theater chain in the world. Founded in 1920, AMC has the largest share of the U.S. theater market ahead of Regal and Cinemark Theatres. It has 2,866 screens in 358 theatres in Europe and 7,967 screens in 620 theatres in the United States.
AMC Daily Log Chart December 2023


AMC ended a Grand Super Cycle in June 2021. The share price has fallen from more than 700 dollars to only 7. In order to analyze the possible structure of Elliott we have transformed the chart to a logarithmic chart. The structure from the peak looks very clear, we have groups of bearish impulses connected by corrections. It is for this reason that a double correction structure is the best alternative for AMC’s decline.
Down from the 2021 peak, we can see an impulse that finished wave “a” at 129.00 low. The correction of this cycle ended a wave “b” at 343.30 high and then continued a new downward impulse. This impulse completed wave “c” at 37.70 low, and thus, the first part of the double correction structure as (w). Then connector wave (x) was shallow ending at 85.30 high. Then the downward trend continued, having a strong bearish momentum in the month of August. We can clearly see another bearish impulse from the high of 85.30. Near term, it looks like to complete wave “a” of (y) we need to break below 6.53. Then any rebound that passes above 7.54 could confirm that wave “a” ended and we would already be in wave “b”.
Although we have drawn wave “b” somewhat short, wave “b” can move between 85.30 and the end of wave “a”. As the fall has been very violent, it is likely that wave “b” will be small. To finish, we need a “c” wave of (y). In this way we would finish the structure of the double correction wave ((II)) and we should look for a new rally in the stock. Actually, it is not possible to know some area where wave ((II)) could complete the cycle.
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IONQ Expects Choppiness In Double Correction
December 11, 2023 By EWFRaj
IONQ Inc., (IONQ) engages in the development of general-purpose quantum computing systems in the US. It sells the access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon web services, Amazon Braket, Microsoft’s Azure Quantum & Google’s cloud marketplace. It is based in US, comes under Technology sector & trades as “IONQ” ticker.
As mentioned in previous article, it reacted lower in corrective sequence in II, which ended ((W)) at $9.23 low. It favors bounce in ((X)) in 3 or 7 swings before turning lower in ((Y)) of II as double correction.
IONQ – Elliott Wave Daily View From 10.22.2023:


In daily, it finished ((1)) of I at $6.00 high & retraced in ((2)) at $4.38 low as 0.5 Fibonacci retracement. Above there, it extended higher as third wave extension as ((3)), which ended at $20.14 high. Within ((3)), it placed (1) at $7.35 high, (2) at $5.29 low, (3) at $16.30 high, (4) at 14.15 low & (5) at $20.14 high. It was corrected in ((4)) in zigzag sequence at $12.19 low. Finally, it ended ((5)) at $21.60 high as wave I impulse.
IONQ – Elliott Wave Latest Daily View:



Below I high, it ended ((W)) at $9.23 low as the part of double correction in II & failed to reach the extreme areas. Within ((W)) sequence, it ended (A) at $12.96 low, (B) at $16.60 high & (C) at $9.23 low as ((W)). Currently, it favors higher in 5 of (A) of ((X)) connector. It placed 1 at $12.58 high, 2 at $10.15 low, 3 at $13.58 high & 4 of (A) at $11.69 low. It expects one more push higher to finish 5 of (A) before correcting in (B). (B) expects to remain above $9.23 low to bounce in (C) of ((X)). As long as the bounce fail below I high, it can do double correction before upside resumes in III. So, it expects ((X)) to fail in 3, 7 or 11 swings below I high to turn lower in ((Y)) of II.
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.
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ES_F (E-mini S&P) Elliott Wave: Forecasting The Rally After 3 Waves Pull Back
December 11, 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 ES_F (E-mini S&P) published in members area of the website. As our members know ES_F is showing impulsive bullish sequences in the cycle from the 4124.4 low. Recently ES made 3 waves pull back in wave ((iv)) black. The futures found buyers and made rally toward new highs as expected . In further text we’re going to explain the Elliott Wave pattern and forecast.
ES_F H1 Update 12.07.2023
ES_F is doing correction wave ((iv)). The structure still looks incomplete at the moment when we still could be trading in wave (y) of potential double three pattern. We see possibility of price making extension down toward 4543.9-5410.2 area ( buyers zone) before turn happens. As overall view is bullish, we don’t recommend selling and favor the long side. We expect ES Futures to make a rally toward new highs ideally.


ES_F H1 Update 12.08.2023
ES Futures completed wave ((iv)) recovery early at 4548.7 low. It missed to reach proposed buyers zone at 4543.9-5410.2. We got rally in ((v)) breaking toward new highs as expected. As far as the pivot at 4548.7 low holds, we can see more short term strength within the same cycle.
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
New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.


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QQQ Should See Further Upside in Impulsive Rally
Cycle from 10.26.2023 low in QQQ remains in progress as a 5 waves impulse Elliott Wave structure. Up from 10.26.2023 low, wave 1 ended at 348.84 and pullback in wave 2 ended at 344.08. The ETF then made a strong rally in wave 3 towards 394.14. Pullback in wave 4 ended at 382.66 as a double three Elliott Wave structure. Down from wave 3, wave (a) ended at 389.46, wave (b) ended at 391.82, and wave (c) lower ended at 385.82. This completed wave ((w)). Rally in wave ((x)) ended at 390.74 as a flat structure.
Down from wave ((x)), wave (a) ended at 387.75, wave (b) ended at 390.23, and wave (c) ended at 382.66. This completed wave ((y)) of 4. The ETF has turned higher in wave 5. Up from wave 4, wave ((i)) ended at 390.36 as a leading diagonal and pullback in wave ((ii)) ended at 384.70. QQQ rally in wave ((iii)) is now in progress. Up from wave ((ii)) low, wave (i) ended at 392.62 as another leading diagonal and wave (ii) correction completed at 390.96. Then wave (iii) rally ended at 395.79 and pullback in wave (iv) finished at 394.95. Near term, we are looking for one more leg higher to complete wave (v) of ((iii)). Afterwards, expect dips to find support in 3, 7, 11 swing as wave ((iv)) for further upside to complete the impulsive structure from 10.26.2023 low.
QQQ 30 Minutes Elliott Wave Chart


QQQ Elliott Wave Video

General Electric Co. ($GE) Blue Box Area Wins Again. What’s Next?
December 11, 2023 By EWFTaha
Hello everyone. In today’s article, we will look at the past performance of the 1 Hour Elliott Wave chart of General Electric Co. ($GE). The rally from 10.23.2023 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:
$GE 1H Elliott Wave Chart 12.07.2023:
Here is the 1H Elliott Wave count from 12.07.2023. The rally from 10.23.2023 peaked at blue (3) and started a pullback to correct it. We expected the pullback to find buyers at (4) in 7 swings (WXY) at $119.32 – 117.31.
$GE 1H Elliott Wave Chart 12.10.2023:
Here is the 1H update from 12.10.2023 showing the bounce taking place as expected. The stock bottomed at $118.17 and reacted higher after reaching the blue box area allowing longs to get a risk free position. We expect the stock to continue higher in wave (5) towards $124 – 126 before a pullback can happen.

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Nifty Short Term Pullback Likely Find Support in 3, 7 or 11 Swing
$NIFTY_50 cycle from 10.26.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from wave (2) low, wave ((i)) ended at 19233.70 and pullback in wave ((ii)) ended at 18973.70. Index then extended higher in wave ((iii)) towards 19463.90 and wave ((iv)) pullback ended at 19329.45. Last push higher as wave ((v)) finished at completing wave 1. Wave 2 pullback was very shallow ending at 19667.45 low.
The 1 hour chart below shows the wave (2) pullback at 18837.85 and the subsequent rally higher. Up from wave (2), wave 1 ended at 119875.25 and shallow correction in wave 2 ended at 19667.45. The Index is then nesting to the upside in wave 3. Up from wave 2, wave ((i)) ended at 19875.15 and pullback in wave ((ii)) ended at 19768.85. Index then extended higher in wave ((iii)) towards 21006.10 and wave ((iv)) pullback ended at 20862.70. A slightly new high at 21037.90 ended wave ((v)) and complete wave 3. Currently, Nifty is pulling back in wave 4 and it should find support in 3, 7 or 11 swings before turning higher in wave 5. Once wave 5 is done, it should complete wave (3) in higher degree.
NIFTY 45 Minutes Elliott Wave Chart


NIFTY Elliott Wave Video

Nikkei Strong Reaction Higher From The Equal Legs Area
December 12, 2023 By Hassan Sheikh
In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of Nikkei. We presented to members at the elliottwave-forecast. In which, the rally from 04 October 2023 low unfolded as an impulse structure. And showed a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the $NKD_F & buy the dips in 3, 7, or 11 swings. We will explain the structure & forecast below:
Nikkei 4-Hour Elliott Wave Chart From 12.07.2023


Here’s the 4-hour Elliott wave chart from the 12/07/2023 London update. In which, the cycle from the 10/30/2023 low ended in wave 3 as an impulse structure at 33870 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)) at 32695 low. Wave ((b)) ended at 33465 high and wave ((c)) managed to reach the equal legs area at 32295- 31570 area. From there, buyers were expected to appear looking for the next leg higher or for a 3-wave bounce minimum.
Nikkei Latest 4-Hour Elliott Wave Chart


This is the latest 4-hour Elliott wave Chart update. In which the Nikkei is showing a strong reaction taking place, right after ending the zigzag correction within the equal legs area. Allowed members to create a risk-free position shortly after taking the long position. However, a break above the 33870 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...er-equal-legs/

Dow Futures (YM) Breaking to New All-Time High
Dow Futures (YM) has broken to new all-time high, suggesting the trend remains firmly bullish. It also suggests the next bullish cycle has started. Short term, rally from 11.10.2023 low is currently in progress as a 5 waves impulse Elliott Wave structure. Up from 11.10.2023 low, wave ((i)) ended at 36337 and dips in wave ((ii)) ended at 36022. Internal subdivision of wave ((ii)) unfolded as a zigzag structure. Down from wave ((i)), wave (a) ended at 36066, wave (b) ended at 36352, and wave (c) lower ended at 36022. This completed wave ((ii)) in higher degree. Index has resumed higher in wave ((iii)) and broken to new all-time high.
Up from wave ((ii)), wave i ended at 36201 and wave ii ended at 36064. Wave iii higher ended at 36659, wave iv ended at 36476, and wave v higher ended at 37030. This completed wave (i) in higher degree. Pullback in wave (ii) ended at 36758. Index has resumed higher again in wave (iii). Up from wave (ii), wave i ended at 37051 and pullback in wave ii ended at 36917. Expect wave iii to end soon, then Index should pullback in wave iv, and then extend higher again. Near term, as far as pivot at 36022 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.
Dow Futures (YM) 60 Minutes Elliott Wave Chart


Dow Futures (YM) Elliott Wave Video

Ethereum (ETHUSD) Should Find Buyers in 3, 7, or 11 Swing


Short Term Elliott Wave View in Ethereum (ETHUSD) shows that it has ended wave (3) at 2401.18. Pullback in wave (4) is currently in progress as a double three Elliott Wave structure. Down from wave 93), wave (a) ended at 2324.3 and wave (b) ended at 2374.78. Wave (c) lower ended at 2142.28 which completed wave ((w)). The crypto currency then corrected in wave ((x)) as a zigzag structure. Up from wave ((w)), wave (a) ended at 2257.38 and wave (b) ended at 2146.35. Wave (c) higher ended at 2331.34 which completed wave ((x)).

The crypto-currency then turned lower in wave ((y)). Down from wave ((x)), wave (a) ended at 2204.42 and wave (b) ended at 2255.08. Wave (c) lower ended at 2114.22 which completed wave ((y)) of W. Ethereum is now correcting cycle from 12.9.2023 high in wave X as a zigzag structure. Up from wave W, wave ((a)) is expected to end soon, then it should pullback in wave ((b)), followed by further upside in wave ((c)) of X. Then, as far as pivot at 2401.18 high remains intact, the crypto-currency has scope to see further downside in a larger double three in wave Y.

Ethereum (ETHUSD) 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

Ethereum (ETHUSD) Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...-3-7-11-swing/
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NIKKEI ( NKD_F ) Forecasting The Rally After 3 Waves Pull Back
December 18, 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 NIKKEI Futures published in members area of the website. As our members know NIKKEI Futures has been giving us good trading setups recently. We have been favoring the long side due to impulsive bullish sequences the futures is showing. In further text we’re going to explain the short term Elliott Wave forecast.
NIKKEI Elliott Wave 1 Hour Chart 12.14.2023
NIKKEI ended cycle from the 11.20. peak at the 32202 low. We got 5 waves up in the rally from the short term low. Currently the futures is doing intraday pull back that seems to be unfolding as potential flat pattern , wave ((b)). Pull back already shows 3 waves down from the last peak. The price has reached intraday equal legs area at 32646-32338. At that zone we expect buyers to appear for a 3 waves bounce at least or further rally ideally.
Note: Keep in mind not every chart is trading recommendation. 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.


NIKKEI Elliott Wave 1 Hour Chart 12.16.2023
The futures found buyers at the marked equal legs area as expected and we got good reaction from there. We count pull back completed at 32470 low. Short term rally made 5 waves up from the 32470 low, and now we are getting 3 waves pull back in (ii) blue. We don’t recommend selling in any proposed pull back.
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
New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.


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 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. 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/sto...ves-pull-back/

SPDR Metals & Mining ETF ($XME) Reacting Higher from Extreme Area.
December 18, 2023 By EWFTaha
Hello everyone. In today’s article, we will look at the past performance of the 4H Hour Elliott Wave chart of SPDR Metals & Mining ETF ($XME). The rally from 10.23.2023 low at $48.01 broke above 09.15 peak creating a bullish sequence. So, we expected the pullback to unfold in 7 swings and find buyers again. We will explain the structure & forecast below:
$XME 4H Elliott Wave Chart 12.12.2023:
Here is the 4H Elliott Wave count from 12.12.2023. We expected the pullback to find buyers at red 4 in a 7 swing structure (wxy).
$XME 4H Elliott Wave Chart 12.13.2023:
Here is the 4H update the next day showing the strong bounce taking place as expected. The ETF reacted higher after 7 swings from 12.01 peak allowing longs to get a risk free position. We expect the ETF to continue higher towards $63.52 – 75.51 before a pullback can happen.
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/sto...-extreme-area/

Nasdaq (NQ) Short Term Should Remain Supported

Short Term Elliott Wave View in Nasdaq (NQ) shows a bullish sequence from 10.26.2023 low favoring further upside. Up from 10.26.2023 low, wave (1) ended at 16208.5 and dips in wave (2) ended at 15721.25. Wave (3) is in progress as the 45 minutes chart below shows. Internal subdivision of wave (3) is unfolding as a 5 waves impulse Elliott Wave structure. Up from wave (2), wave 1 ended at 15989.75 and pullback in wave 2 ended at 15790.47. Index then resumes higher in wave 3.

Up from wave 2, wave ((i)) ended at 16247.50 and dips in wave ((ii)) ended at 16098. Index then resumed higher in wave ((iii)) towards 16657.25 and pullback in wave ((iv)) ended at 16576. Final leg wave ((v)) ended at 16885 which completed wave 3. Pullback in wave 4 ended at 16628. Wave 5 higher is in progress as an impulse in lesser degree. Up from wave 4, wave ((i)) ended at 16813.5 and pullback in wave ((ii)) ended at 16762.50. Index then resumed higher in wave ((iii)) towards 17012.5 and dips in wave ((iv)) ended at 16965.25. Expect the Index to extend higher in wave ((v)) which should complete wave 5 of (3). Afterwards, it should pullback in wave (4) to correct cycle from 12.4.2023 low in 3, 7, or 11 swing before the rally resumes. Near term, as far as pivot at 15790.47 low stays intact, expect the Index to extend higher.

Nasdaq (NQ) 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

NQ Elliott Wave Video


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American Express AXP is Heading to a Potential Selling Area
December 19, 2023 By EWFLuis
American Express Company (Amex), symbol AXP, is an American multinational financial services corporation that specializes in payment cards. Headquartered in New York City, it is one of the most valuable companies in the world and one of the 30 components of the Dow Jones Industrial Average.
AXP Weekly Chart August 2023


We believe that the AXP ended a Great Super Cycle at the peak of 199.55 which we call wave ((I)). The stock started a bearish structure (a), (b), and (c). Wave (a) built a leading diagonal. The first fall reached 155.72 ending wave I. The market bounded strongly ending wave II at 194.35 and then continued with a bearish movement. We can see from wave II a clear impulse lower to complete wave III at 134.12. Then the wave IV correction ended at 166.06, within the wave I zone thus creating the leading diagonal. Finally, the last leg towards 130.65 ended wave V and wave (a) in October 2022 low. The market bounced beginning a wave (b) correction. We called a double correction w, x, y Elliott structure given the market conditions in that moment.
AXP Weekly Chart December 2023


Up from October 2023 low, we can see clearly 3 swings higher ending wave w at 182.15. Then 3 swings lower ended wave x connector at 140.91 hitting 100% Fibonacci extension. Currently, AXP is trading in wave y of (b). The equal legs extension from waves w and x comes in 192.29. Therefore, the area we could look for selling opportunities is 192.92 – 199.55 (invalidation level). We must see a reaction lower in the zone to think that wave (b) is finished because we cannot rule out a flat correction as wave ((II)). In that case, wave (b) could break slighly higher above 199.55 before resuming lower in wave (c). Once wave (b) is done, we can calculate the ideal area to end wave (c) of ((II)) as target. (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory)
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...-selling-area/

AAPL Keeping The Momentum & Reacting Higher From Blue Box Area
December 19, 2023 By Hassan Sheikh
In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of AAPL. We presented to members at the elliottwave-forecast. In which, the rally from 04 December 2023 low is unfolding as an ending diagonal structure. Showing a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
AAPL 1-Hour Elliott Wave Chart From 12.17.2023 Weekend Update


Here’s the 1-hour Elliott wave chart from the 12/17/2023 weekend update. In which, the short-term cycle from the 11/12/2023 low ended in wave 3 of a diagonal at $199.62 high. Down from there, the stock made a pullback in wave 4 to correct that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where wave ((a)) ended at $196.16 low. Wave ((b)) bounce ended at $198.77 high and wave ((c)) managed to reach the blue box area at $195.31- $193.16. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.
AAPL Latest 1-Hour Elliott Wave Chart From 12.19.2023 Post-Market Update


This is the latest 1-hour Elliott wave Chart from the 12/19/2023 Post-Market update. In which the stock is showing 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 $199.62 high is still needed to confirm the next extension higher & avoid a double correction lower.
If you are looking for real-time analysis in AAPL along with the other Stocks & ETFs 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/sto...acting-higher/

Eli Lilly & Company (LLY) Favors Pullback Before Rally Resumes
December 19, 2023 By EWFRaj
Eli Lilly & Company (LLY) discovers, develops & markets human pharmaceuticals worldwide. It is having around 550 B market cap as on December, 18th. It is based in Indianapolis, Indiana, US, comes under Healthcare sector & trades as “LLY” ticket at NYSE.
LLY reacted higher as expected from the previous article, in ((3)) towards $584.39 or higher levels. It ended ((3)) of III at $629.97 high & favors double correction in ((4)) before rally resumes.
LLY – Elliott Wave Weekly View From 8.14.2023:

In Weekly sequence, it finished (I) at $92.85 high in September-2015 & (II) at $64.18 low in November-2016. Above there, it favors higher in (III) of ((III)), in which it placed I at $132.13 high & II at $101.36 low. It favors higher in third wave extension in III & expect pullback in ((4)) before rally resumes in ((5)). It placed ((1)) at $375.25 high & ((2)) at $309.20 low. Within ((1)), it finished (1) at $170.75 as diagonal structure & (2) at $129.21 low as 0.618 Fibonacci retracement. It placed (3) at $335.33 high, (4) at $296.32 low & (5) at $375.25 high.
LLY – Elliott Wave Latest Weekly View:

It ended ((3)) of III at $629.97 high in III. Within ((3)), it placed (1) at $469.87 high, (2) at $434.34 low, (3) at $601.84 high, (4) at $516.57 low & finally (5) as ((3)) at $629.97 high. Currently, it favors pullback in ((4)) as double correction & expect choppiness. It placed (W) at $547.61 low and (X) at $625.87 high. Below there, it favors lower in (Y) of ((4)) towards $543.93 – $492.72 area as blue box. It expects to find the buyers from the blue box area to resume upside in ((5)) to finish III of (III).
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...rally-resumes/

GBPJPY is Showing a Incomplete Bearish Sequence
Short Term Elliott Wave View in GBPJPY shows that it has ended wave ((3)) at 188.66. Pullback in wave ((4)) is currently in progress as a double three Elliott Wave structure. Down from wave ((3)), wave A ended at 185.06 and wave B ended at 186.18. Wave C lower made a strong drop ended at 178.47 which completed wave (W). The yen pair then corrected in wave (X) as a zigzag structure. Up from wave (W), wave A ended at 182.04 and wave B ended at 180.45. Wave C higher ended at 184.32 which completed wave (X).
The GPBJPY then turned lower in wave (Y). Down from wave (X), wave ((a)) ended at 178.32 breaking the low of wave (W) opening the idea of a incomplete bearish sequence. Wave ((b)) pullback was very high retesting wave (X) ended at 184.17. The yen pair is now trading lower in wave ((c)) of W. Down from wave ((b)), wave (i) is expected to end soon, then it should pullback in wave ((ii)), followed by further downside in wave (iii) of ((c)). Then, as far as pivot at 184.18 high remains intact, the GBPJPY has scope to see further downside in a larger double three in wave (Y).
GBPJPY 60 Minutes Elliott Wave Chart


GBPJPY Elliott Wave Video

AMD Looking for One More Leg Higher to Complete an Impulse Structure
Short Term Elliott Wave View in AMD shows a bullish sequence from 10.26.2023 low favoring further upside. Up from 10.26.2023 low, wave (1) ended at 125.72 and dips in wave (2) ended at 116.37. The impulse is in progress as the 45 minutes chart below shows. Internal subdivision of wave (3) was unfolding as a 5 waves impulse Elliott Wave structure. Up from wave (2), wave 1 ended at 122.83 and pullback in wave 2 ended at 116.38. AMD then resumes higher in wave 3.
Up from wave 2, wave ((i)) ended at 121.00 and dips in wave ((ii)) ended at 118.14. The stock then resumed higher in wave ((iii)) towards 135.04 and pullback in wave ((iv)) ended at 131.83. Final leg wave ((v)) ended at 141.82 which completed wave 3. Pullback in wave 4 ended at 135.72. Wave 5 higher made a ending diagonal structure finishing at 143.47 also ended wave (3). Wave (4) correction built a zig zag structure ending at 135.37 low. As price action stays above this level, expect the AMD to extend higher in wave (5). We need to break above wave (3) to confirm that wave (5) is in progress to avoid a possible double correction in wave (4). Once the market breaks above 143.47, next area to keep an eye comes in 143.50 – 145.46 where the stock should be rejected to think that wave (5) and the impulse is completed.
AMD 45 Minutes Elliott Wave Chart


AMD Elliott Wave Video

Ford $F Entered in a Double Three Structure to the Downside
December 26, 2023 By EWFLuis
Ford Motor Company is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, United States. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand, and luxury cars under its Lincoln luxury brand.
FORD (F) Daily Chart August 2023


In January 2022 Ford made a high at 25.87 and we called wave I and the market started a wave II correction. Down from this high, the stock developed a zig zag correction ending at 10.90 low and we called wave ((W)). Since then, shares entered in a sideways phase. From Jun 2022 to Oct 2023. In this range, after ((W)) a flat correction took a part building wave ((X)) connector ending at 16.68 high. Market continued lower and we are expecting another (A), (B), (C) correction to complete wave ((Y)) in a blue box. Down from ((X)), wave (A) ended at $10.57 low. Then, a complex structure with a wave B triangle built wave (B) correction finished at 15.43 high. At July high, the price action dropped again and we called an impulse structure to end wave (C) of ((Y)) and wave II in 7.60 – 4.14 blue box area. (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory).
FORD (F) Daily Chart December 2023


Ford continued to the downside as expected inclusive breaking 10.90 low pivot. However, it only made 3 swings lower and rally without reaching the blue box area. Therefore, we are considering a double correction structure to complete wave ((Y)) of II. Down again from August 2022 high, we can see 3 swings lower ending wave W at 10.90. Then market bounce in 3 swings higher as a flat correction finishing wave X at 15.42. Then, another 3 swings zig zag correction fell completing wave Y at 9.63 low and also wave (W). The current rally should be wave A of (X) and it needs more time to end the structure. Once wave (X) ended, Ford should see 3 swings more lower to end wave (Y) of ((Y)) of II before rally in a new upside cycle. To confirm this view, market needs to breaks below 9.63 and stays below 15.42 high.
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Source:https://elliottwave-forecast.com/sto...ture-downside/

Costco Wholesale (COST) Continues Upside In Bullish Sequence
December 26, 2023 By EWFRaj
Costco Wholesale Corporation., (COST) engages in the operation of membership warehouse in the United States, Puerto Rico, Canada, United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China & Taiwan together with its subsidiaries. It offers branded & private-label products in the range of merchandise categories. It also operates e-commerce websites in the US, Canada, UK & many other countries. It is based in Issaquah, Washington, comes under Consumer Defensive sector & trades as “COST” ticker at Nasdaq.
COST is trading at all time high, suggesting further upside as the part of I of (I) of ((III)). It expects short term upside in 3 of (3) of ((3)) & remain supported in 3, 7 or 11 swings at extreme areas.
COST – Elliott Wave Latest Daily View:

In Monthly sequence, it finished (I) at $393.15 high in November-2020 & corrected in (II) at $307 low in March-2021. It extended higher in (III), which ended at $571.49 high in December-2021. It corrected in (IV) at $469.01 low as 0.382 Fibonacci retracement. Finally, it ended (V) at $612.27 high as ((I)) as bullish sequence since 1986 low. It corrected lower in ((II)) which, ended at $406.51 as sharp pullback.
COST – Elliott Wave Latest Monthly View:

Above ((II)) low, it already broke above ((I)) high, confirmed upside to be I of (I) of ((III)) sequence. It ended ((1)) of I at $564.75 high & placed ((2)) at $447.90 low. Above that, it favors upside in (3) of ((3)) of I. It ended (1) of ((3)) at $530.05 high & (2) at $465.33 low. It already broke above (1) high, ended 1 of (3) at $576.19 high & 2 as flat correction ended at $540.23 low. Currently, it favors upside in ((iii)) of 3 & expect one more push higher to finish it before pullback may start in ((iv)) of 3. It expects any pullback in 3, 7 or 11 swings towards extreme areas to find support to resume higher.
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Source:https://elliottwave-forecast.com/sto...lish-sequence/

XLI Elliott Wave: Buying The Dips At The Blue Box Area
December 26, 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 XLI ETF published in members area of the website. As our members know, XLI is showing bullish impulsive sequences in the cycle from the 96.1 low. Our team recommended members to avoid selling , while keep favoring the long side. Recently we got correction that reached our buying zone. The ETF 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.
XLI Elliott Wave 1 Hour Chart 12.21.2023
The ETF is giving us wave ((iv)) pull back that is unfolding as Double Three pattern. Pull back has already reached equal legs from the peak, blue box area. We expect buyers to appear at 111.62-110.51 for further rally or 3 waves bounce at least. We don’t recommend selling the ETF against the main bullish trend. Strategy is buying the dips at the marked extrme zone : 111.62-110.51 . 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 : 110.51
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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XLI Elliott Wave 1 Hour Chart 12.24.2023
XLI found buyers at the blue box as expected and we got good reaction from there. Bounce already reached and exceeded 50 fibs against the ((x)) black connector which confirms cycle from the peak is done. Consequently, any long positions from the equal legs area should be risk free by now. We count pull back completed at the 111.13 low, but would like to see break above 3 red peak to confirm. As far as the price stays above 111.13low, we can see further strength in XLI, targeting 114.49+ 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
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Source:https://elliottwave-forecast.com/tra...blue-box-area/