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

Live Trading Room Performance in 2023 Produces 69% Return
January 8, 2024 By EWFHendra
Last year, our live trading room provides 69% return annually across the 3 groups that we cover.


In Live Trading Room, we scan the market everyday to find any tradable setup. We believe every serious traders need to have a good trading system with specific rules. A complete system must include the following:
1. Conditions to enter into trade. In our system, we can only trade when there’s a bullish or bearish sequence. Our chart visually shows whether there’s a bullish sequence with an up green tag https://elliottwave-forecast.com/wp-.../Green-Tag.png and bearish sequence with a down red tag https://elliottwave-forecast.com/wp-...01/Red-Tag.png
2. Rule where to enter: Once the condition to trade is present, the system needs to specify where to enter. Our system uses the method of buying/selling correction in 3, 7,or 11 swing. The entry area is always the 100% of the 3 or 7 swing.
3. Rule where to place stop loss. Our system uses 161.8% in 3 or 7 swing as the stop loss level as we believe the third swing in corrective structure should not extend beyond 161.8%. When third swing extends to or beyond 161.8%, it’s usually a sign that it’s a wave 3 and thus the structure is impulsive.
4. Rule where to place target profit: Our system uses the 100% extension of the bullish sequence or bearish sequence as a target profit.
Trading involves patience and discipline to wait for the conditions. Thus why we think trading only 1 or 2 instrument is tough because sometimes conditions to trade do not come for weeks and even months especially in a sideways instrument. That’s also the reason we cover 78 instrument in total in 3 different groups to increase trade chance.
Below is an example of how we won the trade using our system in Group 1. We gave a signal to buy Gold at 2033 on November 30, 2023 last year. Here’s how our journal shows on November 30. The Gold trade is listed at he last row in the journal.


In the journal above, we told our members to buy Gold at 2033, with stop loss at 2020, and target profit 2056. The setup is based on the idea that we have bullish sequence in Gold (green right side tag), and that Gold is pulling back in 3 swing and reaching the 100% extension area as the chart below shows
1 Hour Gold Chart from 30 November 2023


As the 30 November chart of Gold above shows, the metal is pulling back in 3 swing within wave (iv) and reaching the support area of 2022 – 2032 where buyers can appear. There’s also a bullish sequence as indicated by the green tag up. We bought the pullback at 2033 and reached our profit target of 2056 on December 4, 2023 as the 1 hour chart below shows the rally from the buying area.
1 Hour Gold Chart from 4 December 2023


The 1 hour London chart from 4 December above shows Gold rallying strongly higher after reaching the 2023 – 2033 support area. The metal hit our 2056 and continues to spike higher to reach 2148 before finally pulling back.
If you’d like to get trading ideas and learn our system, join us in the live trading room. You may take our trial here –> 14 days Trial
Source:https://elliottwave-forecast.com/ell...formance-2023/

Will ANF Provide Any Buying Opportunity?
January 9, 2024 By EWFRaj
Abercrombie & Fitch Co., (ANF) operates as a specialty retailer in the United States, Europe, Middle East, Asia & Asia-Pacific & Internationally. The company operates though two segments, Hollister & Abercrombie, which operates through its stores, various wholesale, franchise, licensing arrangements & e-commerce platforms. It comes under “Consumer Cyclical” sector under Apparel Retail & trades at NYSE as “ANF” ticker.
ANF is trading at all time high since 1996 & expect upside in short term impulse against May-2023 low. It favors upside in (3) of ((3)) of III & remain supported in 3, 7 or 11 swings pullback at extreme areas.
ANF – Elliott Wave Latest Daily View:

It placed ((I)) at $85.77 high in October-2007 & ((II)) ended at $7.42 low in March-2020 low. Above there, it favors upside in ((III)) as it broke above ((I)) high. It placed (II) of ((III)) at $14.02 low in September-2022 low & favors upside in (III), which expects further upside to continue.
It placed I of (III) at $31.69 high & II at $21.73 low as 0.618 Fibonacci retracement. Later, it resumes higher as extended wave with nesting in 3 of (3) of ((3)) of III. Within III red, it placed ((1)) at $38.20 high & ((2)) as shallow pullback at $33.38 low. Within ((3)), it placed (1) at $55.52 high & (2) at $49.24 low. The pullback within the sequence are of almost having equal frequency with shallow correction, which indicates the nesting in progress.
Currently, it favors upside in ((iii)) of 3 of (3), while placed 2 at $57.78 low & ((ii)) at $65.60 low & expects short term upside, which soon correct lower in ((iv)) of 3. It expects to remain supported in 3, 7 or 11 swings pullback at extreme areas to resumes upside & extend ((3)) of III of (III) sequence.
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...g-opportunity/

META Looking to End Impulsive Rally Wave (5)

Short-term Elliott Wave View in Meta shows an ending diagonal rally from 10.23.2023 low. Up from 10.23.2023 low, wave (1) ended at 342.92 and pullback in wave (2) ended at 313.66. The stock rallies again in wave (3) towards 361.90 and dips in wave (4) ended at 340.01. Internal subdivision of wave (4) unfolded as a double three Elliott Wave structure as the 45 minutes chart below shows.

Down from wave (3), wave ((a)) ended at 357.81 and wave ((b)) ended at 360. Wave ((c)) lower ended at 351.82 which completed wave W. Rally in wave X ended at 355.32. Down from there, wave ((a)) ended at 349.75 and wave ((b)) ended at 354. Wave ((c)) lower ended at 340.05 which completed wave Y of (4). The stock has turned higher in wave (5). Up from wave (4), wave ((i)) ended at 348.15 and wave ((ii)) ended at 344.16. Wave ((iii)) higher ended at 360.64. Expect pullback in wave ((iv)) followed by another leg higher in wave ((v)) to complete wave 1. Afterwards, stock should pullback in wave 2 to correct cycle from 1.2.2024 low in 3, 7, or 11 swing before it resumes higher.

META 45 Minutes Elliott Wave Chart

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META Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...-rally-wave-5/
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Nvidia (NVDA) Breaks to New All-time High, What’s Next?

Nvidia (NVDA) broke to new all-time high as we start 2024. The stock shows incomplete impulsive structure from the last significant low on October 31, 2023 low. The rally from October 31 is unfolding as a 5 waves impulse Elliott Wave structure. Up from October 31, wave ((1)) ended at 505.48 and dips in wave ((2)) ended at 450.10. The stock then resumes higher in wave ((3)) with internal subdivision as 5 waves. Up from wave ((2)), wave (1) ended at 504.33 and pullback in wave (2) ended at 473.20. Internal subdivision of wave (2) unfolded as a flat structure. Down from wave (1), wave A ended at 480.8 and wave B ended at 499.97. Wave C lower ended at 472.6 which completed wave (2).

Up from wave (2), wave 1 ended at 481.8, and pullback in wave 2 ended at 473.20. Stock resumes higher in a nest. Up from wave 2, wave ((i)) ended at 485 and dips in wave ((ii)) ended at 477.30. Stock resumed higher in wave ((iii)) towards 543.25 and pullback in wave ((iv)) ended at 530.18. Expect the stock to extend higher to end wave ((v)) of 3. Afterwards, it should pullback in wave 4 to correct cycle from 1.3.2024 low before it resumes higher. Near term, as far as pivot at 472.6 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Nvidia 60 Minutes Elliott Wave Chart

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NVDA Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...gh-whats-next/
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META Elliott Wave: Buying The Dips At The Blue Box Area
January 10, 2024 By EWF Vlada
Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of META stock published in members area of the website. As our members know, META is showing incomplete bullish impulsive sequences in the cycle from the 279.39 low. Our team recommended members to avoid selling , while keep favoring the long side. Recently we got a pull back that reached our buying zone. The stock 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.
META Elliott Wave 1 Hour Chart 01.02.2024
The stock is giving us wave (4) pull back that is unfolding as Double Three pattern. Pull back looks incomplete at the moment. The price structure shows lower low sequences from the peak, suggesting further extension down toward blue box area. We expect buyers to appear at 345.12-338.84 for further rally or 3 waves bounce at least. We don’t recommend selling Meta stock against the main bullish trend. Strategy is buying the dips at the marked extrme zone : 345.12-338.84 . Once bounce reaches 50 Fibs against the X red 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 : 338.84
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.
You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.


META Elliott Wave 1 Hour Chart 01.10.2024
META stock found buyers at the blue box as expected and we got good reaction from there. Pull back completed at the Blue Box area as Elliott Wave Double Three Pattern. Bounce already reached and exceeded 50 fibs against the X red 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 340.05 low, but would like to see break above (3) blue peak to confirm. As far as the price holds pivot at 340.05 low, we can see further strength in the stock, targeting 367.21-375.73 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
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/tra...dips-blue-box/

Silver (XAGUSD) Remains Sideways


Short Term Elliott Wave view in Silver (XAGUSD) suggests that the metal shows a bearish sequence from 12.4.2023 high. The decline from 12.4.2023 high is unfolding as a zigzag Elliott Wave structure. Down from 12.4.2023 high, wave A ended at 22.49 and wave B rally ended at 24.6. The metal resumes lower in wave C which subdivides into a 5 waves impulsive structure.

Down from wave B, wave (i) ended at 24.07 and wave (ii) ended at 24.48. The metal then resumes lower in wave (iii) towards 22.67. Wave (iv) ended at 23.02 with internal subdivision as a triangle. Final leg wave (v) ended at 22.46 which completed wave ((i)) of C in higher degree. Rally in wave ((ii)) of C is in progress as a zigzag structure. Up from wave ((i)), expect the metal to extend higher to end the first leg wave (a) of the zigzag. Then it should pullback in wave (b) before turning higher again in wave (c) to complete wave ((ii)). Near term, as far as pivot at 24.6 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.

Silver (XAGUSD) 60 Minutes Elliott Wave Chart

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XAGUSD Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...ains-sideways/
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$CRWD: Crowdstrike Reacting from Weekly Bluebox Area
January 14, 2024 By EWF Helgi
Crowdstrike Holdings, Inc. is an US American cybersecurity technology company. It provides cloud workload and endpoint security, threat intelligence, and cyberattack response services. Founded 2011 and headquartered in Austin, Texas, U.S., it is a part of the NASDAQ-100 index. One can trade Crowdstrike under the ticker $CRWD at NASDAQ.
Crowdstrike Weekly Elliott Wave Analysis 1.10.2024
The weekly chart below shows the Crowdstrike shares $CRWD traded at NASDAQ. From the lows, the stock price has developed an initial cycle higher in blue wave (I) of super cycle degree towards $298.48 highs in November 2021. Hereby, red wave III shows an extension beyond 2.0x as related to the initial wave I. After the impulsive structure higher, a correction lower in blue wave (II) has unfolded as an Elliott wave double three pattern being 3-3-3 structure.
Firstly, red wave w of blue wave (II) has printed a low at $150.02 in January 2022. Then, a bounce has set a connector wave x at $242 lower highs in April 2022. Later on, the price has broken $150.02 lows opening up a bearish sequence. Consequently, the target area for red wave y is 94.08-2.44 range. It has been reached and the reaction out the area has started.
It is the preferred view, that blue wave (II) has bottomed in January 2023. While above $92.25, a new bullish cycle in blue wave (III) might have started. Break of the $298.48 highs will confirm that. The target for blue wave (III) is 391-575 area and even higher. Currently, we see red wave I in progress. Within it, black wave ((3)) is within an extension relatively to black wave ((1)). Indeed, it has surpassed 1.618x of the wave ((1)). Short-term, next targets are $290.30 (2.0x) and $336.57 (2.618x). Once ended, expect black waves ((4))-((5)) to accomplish impulsive structure within wave I.
Firstly, investors and traders should be waiting for red wave I to end. Then, they can be looking to buy $CRWD in a pullback as red wave II in 3, 7 swings against $92.25 lows for an acceleration higher in red wave III of blue wave (III).



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Source:https://elliottwave-forecast.com/sto...ekly-reaction/

SCCO Favors Corrective Pullback & Remain Supported
January 15, 2024 By EWFRaj
Southern Copper Corporation (SCCO) engages in mining, exploration, smelting, refining & processing of Copper, Molybdenum, Zinc, Silver, Gold & Lead in Peru, Mexico, Argentina, Ecuador & Chile. The company is based in Phoenix, Arizona, US, comes under Basic Materials Sector & trades as “SCCO” ticker at NYSE.
As shown in previous article, SCCO extends higher & confirms higher high sequence above I high of $83.15. It appears ended ((1)) of III at $88.40 high & favors pullback in ((2)) in 3, 7 or 11 swings correction.
SCCO – Elliott Wave Weekly View From 8.07.2023:

It placed I at $83.15 high & II at $42.42 low as flat correction in weekly sequence. Above there, it reacts higher in (1) of ((1)) ended at $82.05 & (2) at $64.66 low as more than 0.382 Fibonacci retracement. Within (1), it placed 1 at $49.41 high, 2 at $45.17 low, 3 as extended move at $78.76 high, 4 at $66.47 low & finally 5 as (1) at $82.05 high. It ended (3) at $87.59 high, which broke above I high & (4) at $68.93 low as dip pullback.
SCCO – Elliott Wave Latest Weekly View:

It favored ended (5) at $88.40 high as (1) as diagonal as high came with momentum divergence. It appears in (A) of ((2)) pullback in which it can bounce in 2 red of (A). Later, it expect to turn lower in 3 of (A). It expects pullback in ((2)) in 3, 7 or 11 swings against II low before resumes higher in ((3)) of III. Short term new high can be still the part of ((1)) before correcting in ((2)). Alternatively, if it breaks above $88.40 high & erase the momentum divergence, then it can be the part of nest within III, which may extend 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...ain-supported/

Home Depot HD Is Going To Give Us Selling Opportunities
January 15, 2024 By EWFLuis
Home Depot (HD), is an American multinational home improvement retail corporation that sells tools, construction products, appliances, and services, including fuel and transportation rentals. Home Depot is the largest home improvement retailer in the United States.
After reaching all-time highs in December 2021, the price of HD fell considerably. According to the Elliott Wave Principle, the stock price should continue to fall after to end wave (b) pullback. Wave (b) entered in a double or a flat correction and we are going to talk about next. (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory).
Home Depot HD Monthly Chart January 2024


Since December 2021 high, the price of HD has remained bearish and to complete a corrective structure it should continue with more decline. This is because, to finish a corrective structure is required a minimum of 3 waves where the third wave must break the end of the first wave at least marginally. Suggesting further drops in HD price in wave (c). Last time after 3 swings higher from wave (a) low, we called that wave (b) correction was completed. However, price action broke above 347.25, what we talked about last September as a possibility, making that HD enters in a incomplete bullish sequence. Wave (b) now, needs to end a new structure before resuming to the downside from 357.52 – 409.08 blue box area.
Home Depot HD Daily Chart January 2024


In Daily chart, we can watch closer what is happening with HD price. As 347.25 high was broken, the stock enters in a double correction structure. From wave (a) low, market made 3 swings higher ending wave “w” at 347.25 high. Then, we have 3 swings lower as a zig zag correction to end wave “x” at 274.20 low. As price action stays above 274.20 low, we expect to see 3 swings more to the upside to finish wave “y” of ((b)) before turning lower in wave (c).
Home Depot HD Daily Chart Alternative January 2024


As alternative view, we are showing the chart above. This should happen if wave (b) is a flat correction 3-3-5. From wave (a) low, market made 3 swings higher ending wave “a” at 347.25 high. Then, we have 3 swings lower as a zig zag correction to end wave “b” at 274.20 low. Now, the stock should be near to end impulse as wave “c” and also (b) to continue to the downside in wave (c).
Checking both daily charts, we are expecting a movement lower and actually we do not know what form will take. If the pullback makes 3 or 7 swings lower, it is more likely that wave (b) will make double correction higher. If the drop shows an impulse lower then the probability that wave (c) lower has started is 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...opportunities/

NZDUSD Extending Lower in Zigzag Correction


Short term Elliott Wave View in NZDUSD suggests that rally to 0.637 ended wave 1. Pair is now doing wave 2 pullback to correct cycle from 10.26.2023 low. Internal subdivision of wave 2 is unfolding as a zigzag Elliott Wave structure. Down from wave 1, wave (i) ended at 06325 and rally in wave (ii) ended at 0.636. Pair then resumes lower in wave (iii) towards 0.6218 and wave (iv) rally ended at 0.6285. Final leg down wave (v) ended at 0.618 which completed wave ((a)).

Wave ((b)) correction ended at 0.6278 with internal subdivision as a zigzag. Up from wave ((a)), wave (a) ended at 0.6277, wave (b) ended at 0.6195, and wave (c) higher ended at 0.6278. This completed wave ((b)) in higher degree. Pair has resumed lower in wave ((c)). Down from wave ((b)), wave i ended at 0.622 and wave ii ended at 0.6242. Wave iii lower ended at 0.618 and wave iv ended at 0.62036. Expect wave v lower to end soon which should complete wave (i). Pair should then rally in wave (ii) to correct cycle from 1.12.2024 high in 3, 7, or 11 swing before pair resumes lower. Near term, as far as pivot at 0.637 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.

NZDUSD 60 Minutes Elliott Wave Chart

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NZDUSD Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...ag-correction/
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EURUSD Short Term Looking for Further Downside


Short term Elliott Wave View suggests $EURUSD ended wave 1 rally at 1.11395. Pair is now doing wave 2 pullback to correct cycle from 10.03.2023 low. Wave 2 subdivides into a zigzag Elliott Wave structure. Zigzag is a 5-3-5 structure with ABC as the label. Wave A and C in zigzag subdivide into 5 waves as the chart of EURUSD shows. Down from wave 1, wave (i) ended at 1.10434 and rally in wave (ii) ended at 1.10808. Pair then resumes lower in wave (iii) towards 1.0892 and wave (iv) rally ended at 1.0972. Final leg down wave (v) ended at 1.0876 which completed the first leg of the zigzag wave ((a)).

Wave ((b)) rally ended at 1.1 with internal subdivision as a zigzag in lesser degree. Up from wave ((a)), wave (a) ended at 1.0999, wave (b) ended at 1.0909, and wave (c) higher ended at 1.099. This completed wave ((b)) in higher degree. Pair has resumed lower in wave ((c)). Down from wave ((b)), wave i ended at 1.0929 and wave ii ended at 1.0987. Wave iii lower ended at 1.08729 and wave iv ended at 1.0898. Expect wave v lower to end soon which should complete wave (i). Pair should then rally in wave (ii) to correct cycle from 1.11.2024 high in 3, 7, or 11 swing before pair resumes lower. Near term, as far as pivot at 1.099 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.

EURUSD 60 Minutes Elliott Wave Chart

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EURUSD Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...king-downside/
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GDXJ Should Extend Higher in 2024
January 16, 2024 By EWFHendra
GDXJ is an ETF tracking small-cap gold and precious metals mining companies. It has a focus on smaller, more volatile firms. Thus it offers exposure to this precious metal sectors, but investors should be cautious of increased risk. In this article, we will update the Elliott Wave outlook for the ETF.
GDXJ Daily Elliott Wave View


Daily Elliott Wave Chart of GDXJ above shows the ETF ended wave II at 25.96. Wave III is in progress as an impulsive structure. Wave ((1)) of 3 ended at 41.16 and wave ((2)) of 3 ended at 30.46. The ETF then resumed higher and created a nest. Up from wave ((2)), wave (1) ended at 39.82 and wave (2) pullback ended at 34.59. The ETF has resumed higher again in wave (3) of ((3)). As far as pivot at 26.13 low stays intact, expect the ETF to extend higher.
GDXJ 4 Hour Elliott Wave View


4 Hour Elliott Wave view of GDXJ above shows that the ETF may have ended wave (2) of ((3)) correction at 34.59. Near term, while it stays above there, and more importantly above 30.51, expect the ETF to extend higher. However, it still needs to break above wave (1) at 39.82 to rule out any double correction.
We do not cover GDXJ as part of our regular service. However, we cover GDX, Gold, and other commodities, stocks, forex, and crypto currencies. If you’d like to check our service, you can take our 14 days trial here –> 14 days Trial
Source:https://elliottwave-forecast.com/sto...igher-in-2024/

Euro Stoxx (SX5E) Forecasting The Decline After Elliott Wave Double Three Pattern
January 16, 2024 By EWF Vlada
Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of Euro Stoxx (SX5E) published in members area of the website. As our members know Euro Stoxx has recently made recovery against the 4593.6 peak that has unfolded as Elliott Wave Double Three Pattern. It made clear 7 swings from the lows and completed correction. We are getting nice decline as expected. In further text we’re going to explain the Elliott Wave pattern.
Before we take a look at the real market example, let’s explain Elliott Wave Double Three pattern.
Elliott Wave Double Three Pattern
Double three is the common pattern in the market , also known as 7 swing structure. It’s a reliable pattern which is giving us good trading entries with clearly defined invalidation levels.
The picture below presents what Elliott Wave Double Three pattern looks like. It has (W),(X),(Y) labeling and 3,3,3 inner structure, which means all of these 3 legs are corrective sequences. Each (W) and (Y) are made of 3 swings , they’re having A,B,C structure in lower degree, or alternatively they can have W,X,Y labeling.


Euro Stoxx 1 Hour Elliott Wave Analysis 01.10.2024
Current view suggests Euro Stoxx is trading within the cycle from the 4593.6 high. The index is currently giving us wave ((iv)) black recovery that is unfolding as Elliott Wave Double Three Pattern. Correction has (w)(x)(y) blue inner labeling. At the moment we can count 5 swings from the low, when another leg up would be ideal to complete 7 swings pattern. We expect to see another high in wave c of (y) toward approximately 4516.6 area. Once bounce completes 7 swing structure from the lows, we should ideally see another leg down.
You can learn more about Elliott Wave Double Three Patterns at our Free Elliott Wave Educational Web Page.


Euro Stoxx 1 Hour Elliott Wave Analysis 01.16.2024
Euro Stoxx index made proposed leg up and complete 7 swings structure. It missed to reach proposed target at 4516.6 area and completed early at 4510 high. The index found sellers as expected and made break toward new lows. Euro Stoxx should ideally remain bearish in near term as far as pivot at 4510 high holds.
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 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/ell...three-pattern/

American Airlines Group Inc. ($AAL) Found Buyers After a Zigzag Pullback.
January 16, 2024 By EWFTaha
Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of American Airlines Group Inc. ($AAL). The rally from 1.03.2024 low at $12.89 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 3 swings and find buyers again. We will explain the structure & forecast below:
Zigzag (ABC) Corrective Structure


$AAL 1H Elliott Wave Chart 1.10.2024:
Here is the 1H Elliott Wave count from 1.10.2024. We expected the pullback to find buyers against 1.03.2024 low at $12.89 in a 3 swing structure (ABC).
$AAL 1H Elliott Wave Chart 1.11.2024:
Here is the next day 1H update, showing the bounce taking place as expected. The stock reacted higher after doing a Zigzag correction allowing longs to get a risk free position.

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...gzag-pullback/

Natural Gas Perfect Reaction Higher From Extreme Area
January 17, 2024 By Hassan Sheikh
In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of Natural Gas ticker symbol: $NG_F. In which, the rally from the 29 March 2023 low unfolded in an impulse sequence & provided an extreme trading opportunity. In this case, the pullback managed to reach the equal legs area & provided a buying opportunity. So, we advised members not to sell it but to buy the equal legs area for a minimum reaction higher to happen. We will explain the structure & forecast below:
Natural Gas 4-hour Elliott Wave Chart From 12.03.2023


Here’s the Elliott wave Chart from the 12/03/2023 weekend update. In which, rally to $3.630 high ended the wave (1) & made a pullback in wave (2). The internals of that pullback unfolded as Elliott wave zigzag structure where wave A ended at $2.989 low. A bounce to $3.275 high ended wave B bounce. Then started the next leg lower in wave C towards $2.637- $2.485 equal legs area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.
Natural Gas 4-hour Elliott Wave Chart From 1.07.2024


Above is the Elliott wave Chart from the 1/07/2024 Weekend update. The Natural Gas is showing a reaction higher taking place from the equal legs area. Right after ending the zigzag correction. Allowed members to create a risk-free position shortly after taking a long position. However, a break above $3.630 high is yet to be seen to confirm the next extension higher & avoid a double correction lower.
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Russell 2000 (RTY) Rally Should Fail for More Downside


Short term Elliott Wave View in Russell 2000 (RTY) suggests the decline from 12.28.2023 high is unfolding as a double three Elliott Wave structure. Down from 12.28.2023 high, wave W ended at 1938.6 and wave X ended at 2004.87. Wave Y lower is in progress as another double three in lesser degree. Down from wave X, wave a ended at 1966.4 and wave b ended at 2003.10. Wave c lower ended at 1944.70 which completed wave (w). From there, wave (x) rally ended at t 2003.30 as a zigzag. Up from wave (w), wave a ended at 1977.10 and wave b ended at 1957.30. Wave c ended at 2003.30 which completed wave (x) in higher degree.

Index resumes lower in wave (y) with internal subdivision as a zigzag. Down from wave (x), wave a ended at 1958 and wave b rally ended at 1971.10. Wave c lower ended at 1904.80 which completed wave (y) of ((w)). Expect Index to rally in wave ((x)) to correct cycle from 1.9.2024 high before it resumes lower. Rally is unfolding as a zigzag where wave (a) ended at 1929.4 and wave (b) ended at 1910.10. Expect wave (c) higher to end at 1934.2 – 1949.9 area which should complete wave ((x)) in higher degree. Near term, as far as pivot at 2004.87 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.

Russell 2000 (RTY_F) 45 Minutes Elliott Wave Chart

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RTY_F Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...fail-downside/
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Microsoft (MSFT) Should Remain Supported


Short term Elliott Wave View in Microsoft (MSFT) suggests rally from 12.15.2023 low is unfolding as a 5 waves impulse. Up from 12.15.2023 low, wave ((i)) ended at 376.94 and dips in wave ((ii)) ended at 366.50 as the 1 hour chart below shows. Internal subdivision of wave ((ii)) unfolded as a zigzag structure. Down from wave ((i)), wave (a) ended at 366.77 and rally in wave (b) ended at 373.26. Wave (c) lower ended at 366.43 which completed wave ((ii)).

The stock resumed higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 375.20 and dips in wave (ii) ended at 371.19. Wave (iii) higher ended at 390.68 and pullback in wave (iv) ended at 380.38. Final leg wave (v) higher ended at 394.03 which completed wave ((iii)). The stock then pullback in wave ((iv)) as a zigzag structure. Down from wave ((iii)), wave (a) ended at 387.62 and wave (b) ended at 391.30.

Wave (c) lower ended at 384.81 which completed wave ((iv)). The stock resumes higher in wave ((v)) with internal subdivision as a 5 waves. Up from wave ((iv)), wave (i) ended at 390.11 and wave (ii) ended at 387.05. Wave (iii) higher ended at 394.32 and pullback in wave (iv) ended at 389.85. Expect the stock to complete wave (v) soon which should complete wave ((v)) of 5 of (3) in higher degree. Afterwards, it should do larger pullback in wave (4) in 3, 7, or 11 swing before it resumes higher.

Microsoft (MSFT) 60 Minutes Elliott Wave Chart

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MSFT Elliott Wave Video


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$DBK: Deutsche Bank Stock Nesting before Acceleration
January 19, 2024 By EWF Helgi
Deutsche Bank is a German multinational investment bank and financial services provider. It is one of the nine bulge bracket banks. Deutsche Bank is the largest German banking institution and is a part of the DAX-40 index. Founded 1869 and headquartered in Frankfurt, Germany, it can be traded under tickers $DBK at Frankfurt and $DB at New York Exchange. After printing the all-time highs in May 2007 at 86.23, the stock price has lost more than 95% by March 2020. In the initial article from August 2021, we saw Deutsche Bank turning higher. We were right. Now, we see nesting price action. Soon, acceleration higher should take place. In the current article, we explain the wave structure of $DBK and the targets.
Deutsche Bank Monthly Elliott Wave Analysis 01.19.2024
The monthly chart below shows the Deutsche Bank stock $DBK traded at XETRA in Frankfurt. From the lows, the stock price has developed a cycle higher in wave ((I)) of a grand super cycle degree. It has ended at 76.87 in January 2001. From there, a correction lower in wave ((II)) has developed an expanded flat Elliott wave pattern. Hereby, expanded flats are 3-3-5 structures which do a new high in price. First, from January 2001 highs, a first leg lower has ended in 3 swings at 23.99 in March 2003. Then, second leg higher in 3 swings has printed the all-time highs at 86.23 in May 2007. Finally, the last leg lower shows an ending diagonal which is an Elliott Wave 3-3-3-3-3 structure.
Hence, Deutsche Bank may have ended correction in wave ((II)) in March 2020 at 4.45 lows. While above, a new cycle in black wave ((III)) is in the first stages and should reach towards the new all-time highs. The target for wave ((III)) will be 81.41-128.93 area and even higher.


Deutsche Bank Daily Elliott Wave Analysis 01.19.2024
The daily chart below shows the nesting price action in black waves ((1))-((2)) and blue waves (1)-(2) of black wave ((3)) of red wave I from the March 2020 lows. Firstly, a leading diagonal in black wave ((1)) has ended in February 2022 at €14.64. Within it, the structure is 3-3-3-3-3 pattern. Secondly, a pullback in black wave ((2)) has set a bottom in October 2022 at €7.25 lows. From the lows, new cycle in black wave ((3)) might have started. Break of the February 2022 highs will confirm that. The target will be 17.45-23.76 area and even higher.
In shorter cycles, initial nest in blue waves (1)-(2) of black wave ((3)) has ended in March 2023 at €7.95 lows. While above there, blue wave (3) of black wave ((3)) is in progress. The target is 13.05-16.20 area and beyond. Investors and traders can be waiting for red wave 1 to end first. Then, they can buy the red wave 2 pullback in 3, 7 swings against March 2023 lows for an acceleration higher in red wave 3 of blue wave (3) of black wave ((3)).


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S&P 500 (SPX) Looking for Further Upside


Short term Elliott Wave View in S&P 500 (SPX) suggests that rally to 4793.3 ended wave (3). Pullback in wave (4) is unfolding as a double three Elliott Wave structure. Down from wave (3), wave ((a)) ended at 4752 and wave ((b)) rally ended at 4776.9. Wave (c)) lower ended at 4731.17 which completed wave W in higher degree. Wave X rally ended at 4754.33. Index then resumed lower in wave Y. Down from wave X, wave ((a)) ended at 4704.72, wave ((b)) ended at 4729.29 and wave ((c)) lower ended at 4681.94. This completed wave Y of (4).

The Index then turned higher in wave (5). Internal subdivision of wave (5) is unfolding as an impulse in lesser degree. Up from wave (4), wave ((i)) ended at 4790.80 and wave ((ii)) pullback subdivided into a zigzag structure. Wave (a) ended at 4739.58, wave (b) ended at 4789.52, and wave (c) lower ended at 4714.82 which completed wave ((ii)). Expect wave ((iii)) to end soon, then it should pullback in wave ((iv)) before turning higher again in wave ((v)) to complete wave 1 in higher degree. Afterwards, Index should pullback in wave 2 to correct cycle from 1.6.2024 low in 3, 7, or 11 swing before the rally resumes. Near term, as far as pivot at 4681.94 low stays intact, expect dips to find support in 3, 7, 11 swing for further upside.

S&P 500 (SPX) 60 Minutes Elliott Wave Chart




SPX Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...urther-upside/
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