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

Barrick Gold (NYSE: GOLD) Looking for Bottom
January 22, 2024 By EWFHendra
Barrick Gold, headquartered in Toronto, is a major player in global gold and copper mining since 1983. With operations in various countries, the company is a key contributor to the worldwide gold supply. Known for its commitment to responsible practices, Barrick’s leadership guides sustainable mining efforts. Below we update the Elliott Wave outlook for the company.
Barrick (GOLD) Weekly Elliott Wave Chart


Barrick Gold is doing a nest since September 2015 low. Up from there, wave (I) ended at 23.47 and wave (II) dips ended at 9.53. Wave (III) is in progress as an impulse. Up from wave (II), wave I ended at 31.22 and pullback in wave II ended at 13.01. The stock resumed higher in wave III. Up from wave II, wave (1) ended at 20.19 and pullback in wave (2) ended at 13.82 as an expanded flat. Down from wave (1), wave A ended at 15.48, wave B ended at 20.75, and wave C lower ended at 13.82 which completed wave (2). Up from there, wave 1 ended at 18.55. Pullback in wave 2 is now in progress and while the stock stays above 13.82, it should turn higher soon.
Get regular Elliott Wave update in 72 instruments in 4 different time frames and try our service 14 days. We cover various instrument including stocks, commodities, forex, and Indices. Take the Free trial here –> 14 days Trial.
Source:https://elliottwave-forecast.com/sto...ooking-bottom/

Alphabet Inc. ($GOOGL) Found Buyers After a Zigzag Pullback.
January 22, 2024 By EWFTaha
Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of Alphabet Inc. ($GOOGL). The rally from 1.08.2024 low at $135.09 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


$GOOGL 1H Elliott Wave Chart 1.17.2024:
Here is the 1H Elliott Wave count from 1.17.2024. We expected the pullback to find buyers against 1.08.2024 low at red 2 in a 3 swing structure (ABC).
$GOOGL 1H Elliott Wave Chart 1.21.2024:
Here is the 1H update from 1.21.2024 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/

MCD Could Slowdown The Momentum Looking For A Pullback
January 23, 2024 By EWFLuis
McDonald’s (MCD) is the world’s largest fast food restaurant chain, serving over 69 million customers daily in over 100 countries in more than 40,000 outlets as of 2021. It is best known for its hamburgers, cheeseburgers and french fries, although their menu also includes other items like chicken, fish, fruit, and salads.
McDonald’s MCD Weekly Chart September 2023


Last September we were looking for buying opportunities on MCD. The stock continued lower as expected doing a zig zag correction as wave II. Market dropped to around 1.618 Fibonacci extension and it ended the corrective wave II at 245.73 low. The current rally has already broken the last high of 299.35 making a new all time high this 2024.
McDonald’s MCD Weekly Chart January 2023


Down from wave I, wave ((A)) ended at $275.00 and bounce as Wave ((B)) was rejected lower at $285.60 in wave ((C)). This wave ((C)) built an impulse structure that we looked to end in $260.99 – $245.82 zone, but it rallied slighly below from 245.73. Then wave II finished and MCD took a bullish momentum breaking $300.00. Actually, the stock should continue higher until it ends a new impulse as we called as wave ((1)). Once this structure has completed, the stock should pullback in 3, 7 or 11 swings and stays above 245.73 before resuming to the upside.
McDonald’s MCD Alternative Weekly Chart January 2023


An alternative view, you can check the chart above. MCD could be making a leading diagonal as wave (I) and all will depend of depth of the pullback. If the correction breaks below 245.73, then shares will enter in a big retracement that could end in the third quarter of the year.
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...ntum-pullback/

FCX Favors Sideways Correction Before Resumes Higher
January 23, 2024 By EWFRaj
Freeport-McMoRan Inc., (FCX) engages in the mining of minerals in North America, South America & Indonesia. It primarily explores for Copper, Gold, Molybdenum, Silver & other metals. It is based in Phoenix, Arizona, US, comes under Basic Materials sector & trades as “FCX” ticker at NYSE.
FCX ended ((1)) of III at $46.73 high & favors pullback in ((2)) correction as 7 swings structure in daily. It favors corrective pullback in (Y) of ((2)) & remain choppy before turning higher in ((3)).
FCX – Elliott wave Latest Weekly View:

Since January-2016 low, it reacted higher in I as impulse sequence ended at $51.99 high in March-2022 peak. Below there, it ended II as 3 swing correction at $24.80 low as more than 0.5 Fibonacci retracement of I. It favored higher in ((1)) of III, which ended at $46.73 high. Within ((1)), it placed (1) at $33.89 high, (2) at $26.03 low as dip pullback, (3) at $41.16 high, (4) at $36.85 low & (5) at $46.73 high as ((1)). Below there, it favors corrective pullback in ((2)) & expect downside in (Y) of ((2)) as it broke below (W) low.
FCX – Elliott Wave Latest Daily View:

Below ((1)), it placed (W) at $33.05 low as 3 swing pullback. It ended (X) connector bounce at $44.70 high & started reacting lower in (Y) of ((2)). It favored ended W of (Y) at $32.83 low & X at $43.42 high. Below there, it favors lower in ((a)) of Y of (Y) & expect small downside before it should bounce in ((b)), which fail in ((c)) below W low to finish (Y) towards $31.01- $27.77 area. As long as it holds above II low of $24.80, it expects to turn higher in ((3)) or at least can see 3 swing bounce.
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...esumes-higher/

American Airlines (AAL) Getting Ready to Break Higher


Short Term view on American Airlines (AAL) suggests that rally to 14.65 on December 15, 2023 high ended wave (A). Pullback in wave (B) is proposed complete at 12.78 as the 45 minutes chart below shows. Internal subdivision of wave (B) unfolded as a zigzag Elliott Wave structure. Down from wave (A), wave A ended at 12.89 and rally in wave B ended at 14.67. Wave C lower subdivided into 5 waves. Down from wave B, wave ((i)) ended at 14.2 and wave ((ii)) ended at 14.63. Wave ((iii)) ended at 13.18 and wave ((iv)) ended at 13.34. Final leg wave ((v)) ended at 12.78 which completed wave C of (B).

The stock has turned higher in wave (C). Up from wave (B), wave ((i)) ended at 13.22 and dips in wave ((ii)) ended at 12.87. The stock resumed higher in wave ((iii)) towards 13.98 and pullback in wave ((iv)) ended at 13.41. Final leg higher wave ((v)) ended at 14.47 which completed wave 1. Stock should now pullback in wave 2 to correct cycle from 1.17.2024 low before it resumes higher. Internal subdivision of wave 2 should unfold in 3, 7, or 11 swing. As far as pivot at 12.78 low stays intact, expect the stock to resume higher again after wave 2 pullback ends.

American Airlines (AAL) 45 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

AAL Elliott Wave Video


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

Dow Futures (YM) Pullback Should Find Support in 3, 7, 11 Swing


Short Term view on Dow Futures suggests rally from 10.27.2023 low ended at 38113 as wave (3). Pullback in wave (4) unfolded as a double three Elliott Wave structure. Down from wave (3), wave W ended at 37470 and wave X ended at 38038. Wave Y lower ended at 37298 as the 1 hour chart below shows. This completed wave (4) in higher degree. The Index has resumed higher in wave (5).

Internal subdivision of wave (5) takes the form of a 5 waves impulse structure. Up from wave (4), wave ((i)) ended at 37897 and pullback in wave ((ii)) ended at 37633. Index then resumes higher in wave ((iii)) towards 38157. Pullback in wave ((iv)) ended at 38061 and final leg wave ((v)) ended at 38302. This completed wave 1 in higher degree. Expect Index to pullback in wave 2 in 7 swing as a double three Elliott Wave structure. The first 3 swing lower is in progress and can reach 37731 – 37930 where wave ((w)) should end. Afterwards, it should rally in wave ((x)) before turning lower again in 3 waves to complete wave ((y)) of 2. As far as pivot at 37298 low stays intact, expect dips to find support in 3, 7, 11 swing for further upside.

Dow Futures (YM_F) 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

YM_F Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...-3-7-11-swing/
Get 14 days Trial --> Click Here

Twist Bioscience Corp (NASDAQ: TWST) Daily Investment Opportunity
January 25, 2024 By EWFAyoub
Twist Bioscience (NASDAQ: TWST) is a public biotechnology company founded in 2013 and it’s based in South San Francisco. It manufactures synthetic DNA and DNA products for customers in a wide range of industries. In this article, we will be explored the Elliott Wave structure based on the daily cycle .
From the low on 5/2/2023, TWST rallied an impressive 246% until late December. This upward move unfolded in three swings. Wave I ended at $27.36, wave II at $14.42, and wave III recently ended at $39.74. According to the Elliott Wave Theory, the proposed wave IV pullback is expected to unfold in 3, 7, or 11 swings above the $14.42 low. Consequently, after ending current pullback, the stock is expected to resume its rally in wave V.
TWST Daily Chart 1.25.2024


Examining the above chart, we observe a projected correction in wave IV. This correction appears within a three-wave Zigzag structure ((A)) ((B)) ((C)). It’s expected to reach equal legs at $30.33 – $25.59, then ascend. The blue box represents a high-frequency area where market cycles are likely to end and pivot. Consequently, TWST is expected to attract buyers and initiate the next upward leg within wave V.
In conclusion, TWST presents a potential investment opportunity. This opportunity is within the daily correction against the low of October 2023. Consequently, it could reach new highs, ideally later this year
Get more insights about the stock marketand learn how to trade our blue boxes using the 3, 7 or 11 swings sequence by trying out our services 14 days . You will get access to our 78 instruments updated in 4 different time frames, Live Trading & Analysis Session done by our Expert Analysts every day, 24-hour chat room support and much more.
Source:https://elliottwave-forecast.com/sto...st-investment/

Bitcoin (BTCUSD) Looking for Support Soon


Short Term Elliott Wave view in Bitcoin (BTCUSD) suggests it is currently doing a pullback starting from 1.11.2024. The decline is taking the form of a zigzag Elliott Wave structure. Down from 1.11.2024 high, wave A ended at 41339 and wave B rally ended at 43577.69 as the 1 hour chart below shows. Wave C lower is currently in progress as a 5 waves. Down from wave B, wave (i) ended at 42158.6 and rally in wave (ii) ended at 42868.4. Wave (iii) lower ended at 40549.3 and wave (iv) rally ended at 41518.5. The instrument then resumed wave (v) lower which ended at 40256.6 and completed wave ((i)) in larger degree.

Rally in wave ((ii)) ended at 42143.3 and the crypto currency has resumed lower in wave ((iii)). Down from wave ((ii)), wave (i) ended at 40349.9 and rally in wave (ii) ended at 41173.8. Wave (iii) lower ended at 39190.1 and rally in wave (iv) ended at 40305.4. Bitcoin extended lower again in wave (v) towards 38503.2 which completed wave ((iii)). Rally in wave ((iv)) ended at 40526.3. The crypto currency is now in wave ((v)) lower and as far as pivot at 43577.69, 1 more leg lower still can’t be ruled out at this stage to end wave ((v)) of C. The right side / main trend for Bitcoin still remains bullish and thus we do not like short selling the instrument.

Bitcoin (BTCUSD) 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

BTCUSD Elliott Wave Video


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

Attached Image (click to enlarge)

January 29, 2024 By EWFHendra
Chevron is a major global energy company involved in oil and gas exploration, production, refining, and marketing. Operating in over 180 countries, the company emphasizes sustainability, innovation, and corporate responsibility, with a focus on maintaining substantial energy reserves and addressing environmental concerns.
Chevron Monthly Elliott Wave Chart

Monthly Elliott Wave chart of Chevron (CVX) above shows that the stock has traded sideways since making all time high on November 14, 2022 at 189.68. It’s currently pulling back in wave (II) to correct cycle from 3.19.2020 low as an expanded flat Elliott Wave structure. Rally from 3.19.2020 low ended wave (I) at 182.4. Down from there, wave a ended at 132.54 and wave b ended at 189.68. Wave c lower is in progress as a 5 waves. Down from wave b, wave ((1)) ended at 149.74 and wave ((2)) ended at 171.7. Wave ((3)) lower ended at 140.92. Expect wave ((4)) rally to fail and then stock to do another leg wave ((5)) to end wave c of (II) before the rally resumes. As far as pivot at 51.97 low stays intact, the stock should see further upside again once wave (II) correction is over.
Chevron Daily Elliott Wave Chart


Daily Elliott Wave view in Chevron above shows wave c of (II) Expanded Flat is in progress as a 5 waves diagonal. Down from wave b, wave ((1)) ended at 149.74 and wave ((2)) ended at 171.7. Wave ((3)) lower ended at 139.62. Wave ((4)) rally is currently in progress but another leg lower can’t be ruled out to finish wave ((5)). This should complete wave c of (II), then the stock can resume higher again.
If you’d like to get regular updates on other stocks, ETF, forex, and commodities, feel free to take our trial here –> 14 days Trial
Source:https://elliottwave-forecast.com/sto...ains-progress/

Meta Stock : Another Buying Opportunity After 3 Waves Pull Back
January 29, 2024 By EWF Vlada
Hello fellow traders. As our members know Meta Stock has been giving us good trading opportunities recently. In this technical article we’re going to take a quick look at another Elliott Wave trading setup of META published in members area of the website. As our members know, META is showing bullish impulsive sequences in the cycle from the 313.66 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 Stock Elliott Wave 1 Hour Chart 01.25.2024
We believe the stock is giving us wave (iv) intraday pull back. Correction looks incomplete at the moment. The price structure shows lower low sequences from the peak, suggesting more downside toward marked blue box zone : 387.8-383.9. At that zone buyers should ideally appear 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 extreme zone :387.8-383.9
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 Stock Elliott Wave 1 Hour Chart 01.28.2024
META found buyers at the blue box as we expected. The stock made very good reaction higher from our buying zone. Pull back completed right at the Blue Box area at the 386.07 low. Any long positions from the equal legs area should be risk free by now. We count wave (iv) blue pull back completed at the 386.07 low. Shot term rally from that low, looks incomplete at the moment. As of right now we can count only 3 waves up, looking for another high to complete wave (v) blue ideally.
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...ves-pull-back/

QQQ Looking to Complete 5 Waves Rally

Short Term Elliott Wave view in QQQ suggests that rally from 1.5.2024 low is in progress as a 5 waves impulse structure. Up from 1.5.2024 low, wave ((i)) ended at 411.36 and dips in wave ((ii)) ended at 402.92. The ETF then extended higher in wave ((iii)) as another impulse in lesser degree. Up from wave ((ii)), wave (i) ended at 412.99 and pullback in wave (ii) ended at 409.16. The ETF extended higher again in wave (iii) towards 424.73 and pullback in wave (iv) ended at 420.57. Final leg higher wave (v) ended at 429.85 which completed wave ((iii)) in higher degree.

Pullback in wave ((iv)) unfolded as a zigzag structure. Down from wave ((iii)), wave (a) ended at 424.51, and wave (b) ended at 429.04. Wave (c) lower ended at 422.28 which completed wave ((iv)). The ETF has turned higher in wave ((v)) with internal subdivision as an impulse. Up from wave ((iv)), wave (i) ended at 426.67 and dips in wave (ii) ended at 423. Expect the ETF to extend higher in wave (iii) of ((v)). Near term, as far as pivot at 402.87 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

QQQ 45 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

QQQ Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...5-waves-rally/
Get 14 days Trial --> Click Here

Advanced Micro Devices, Inc. ($AMD) Found Buyers at the Blue Box Area as Expected.
January 29, 2024 By EWFTaha
Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of Advanced Micro Devices, Inc. ($AMD). The rally from 1.11.2024 low at $143.77 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


$AMD 1H Elliott Wave Chart 1.26.2024:
Here is the 1H Elliott Wave count from 1.26.2024. We expected the pullback to find buyers at the blue box area at 173.52 – 168.98 in a 3 swing structure (ABC).
$AMD 1H Elliott Wave Chart 1.28.2024:
Here is the 1H update 2 days later from 1.28.2024 showing the bounce taking place as expected. The stock reacted higher from the blue box 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...area-expected/

USDCAD Rally Likely Fail in 3, 7, 11 Swing

Short Term Elliott Wave view in USDCAD suggests that rally to 1.354 ended wave (B). Pair has since turned lower in wave (C). However, confirmation is needed to validate this view and pair still needs to break below the previous low on 12.27.2023 at 1.3172. Down from wave (B), wave (i) ended at 1.3475 and rally in wave (ii) ended at 1.3528. Pair extended lower in wave (iii) towards 1.3417 and wave (iv) ended at 1.3444. Final leg wave (v) ended at 1.3413 which completed wave ((i)). Pair then rallied in wave ((ii)) which subdivides into a zigzag structure.

Up from wave ((i)), wave (a) ended at 1.349 and pullback in wave (b) ended at 1.3425. Wave (c) higher ended at 1.3534 which completed wave ((ii)). Pair has turned lower in wave ((iii)) towards 1.3411 and rally in wave ((iv)) ended at 1.3467. Pair then made another low in wave ((v)) as a diagonal. Down from wave ((iv)), wave (i) ended at 1.3424 and wave (ii) ended at 1.3465. Wave (iii) lower ended at 1.3397, wave (iv) ended at 1.3446, and wave (v) ended at 1.3396. This completed wave ((v)) of 1 in higher degree. Expect pair to rally in wave 2 to correct cycle from 1.17.2024 high before it resumes lower. Near term, as far as pivot at 1.354 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.

USDCAD 45 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

USDCAD Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...-3-7-11-swing/
Get 14 days Trial --> Click Here

Boston Scientific Corporation (BSX) Should Continue Uptrend & Remain Supported
January 30, 2024 By EWFRaj
Boston Scientific Corporation (BSX) develops, manufactures & markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg & Cardiovascular segments. It offers devices to diagnose & treat different medical conditions and offer remote patient management systems. It is based in Marlborough, US, comes under Healthcare sector & trades as “BSX” ticker at NYSE.
As discussed in previous article, BSX reacted higher since $48.35 low & extend higher within the sequence started from October-2023 low. It erased the momentum divergence in daily suggesting further upside to continue as ((3)) of III in impulse sequence.
BSX – Elliott Wave Latest Daily View:

In weekly sequence, it placed (II) at $24.10 low in March-2020 & II of (III) at $34.98 low in June-2022. Above there, it favors upside in (1) of ((3)) of III & expect to remain supported in 3, 7 or 11 swings pullback. It placed ((1)) of I at $42.37 high, ((2)) at $32.99 low, ((3)) at $46.28 high, ((4)) at 37.96 low & ((5)) as I at $47.49 high. It placed ((1)) of III at $55.38 high & ((2)) at $48.35 low as shallow pullback. Within ((1)) of III, it placed (1) at $43.52 high, (2) at $37.74 low, (3) at $54.74 high, (4) at 49.69 low & finally (5) at $55.38 high as ((1)).
BSX – Elliott Wave Latest Weekly View:

Above ((2)) low, it favors upside in ((iii)) of 3 & expect further higher to finish (1) of ((3)). It placed 1 of (1) at $51.43 high & 2 at $49.15 low as flat correction. Above there, it favored ended ((ii)) at $54.95 low & favors upside in ((iii)) of 3 of (1). It expects few more highs to finish (1) of ((3)) before the next pullback may starts in (2) correction, which unfold in 3, 7 or 11 swings before resume upside in (3) of ((3)).
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/

SONY Ended Wave ((2)) Correction And Bullish Scenario Is On Going
January 30, 2024 By EWFLuis
Sony Group Corporation, commonly known as SONY, is a Japanese multinational conglomerate corporation. As a major technology company, it operates as one of the world’s largest manufacturers of consumer and professional electronic products, the largest video game console company.
SONY ended an impulse that began at the end of 2012. The share price reached 133.75 in January 2021, that was, 9 years of upward movement. We called this impulse as wave (I). The price started to fall forming a double correction and after almost 5 months wave (II) ended reacting from the blue box area.
SONY Weekly Chart October 2023


Last October, we suggested two scenarios for the next move of SONY. The first one is that wave ((2)) was not ended and it is going to rally in wave (B) correction. Then the market should turn down in wave (C) to completed wave ((2)) pullback before resuming to the upside. The second scenerio was the chart above. We have selected this one because market conditions. Indices like SPX and NASDAQ are showing a bullish structure and there is no way for now to think in deep pullbacks. Therefore, SONY should keep going with the uptrend structure.
SONY Weekly Chart January 2024


In the chart above, shows how SONY ended a leading diagonal structure at 100. 94 high and we called wave ((1)). Then a pullback took a part in 3 swings ending wave ((2)) at 79.62 low. The stock rallied as expected, as price action stays above 79.62 low, the market should continue to the upside. Currently, we are looking to break 100.94 high for the market to create an incomplete bullish sequence. In that way, we could see the wave (1) ended soon and SONY would enter in a correction of 3, 7 or 11 swings lower as wave (2) before resuming the rally.
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...n-end-bullish/

Nikkei (NKD_F) Looking for Further Downside Correction

Short Term Elliott Wave view in Nikkei (NKD_F) suggests that rally to 37014 ended wave 3. Wave 4 pullback is currently in progress as a double three Elliott Wave structure. Down from wave 3, wave (a) ended at 36060 and wave (b) ended at 36590. Down from there, wave i ended at 36115 and wave ii ended at 36425. Wave iii ended at 35910, wave iv ended at 36330, and final leg wave v ended at 35700. This completed wave (c) of ((w)) in higher degree. The Index then rallied in wave ((x)) with internal subdivision as an expanded flat.

Up from wave ((w)), wave (a) ended at 36290 and wave (b) ended at 35680. Wave (c) higher ended at 36410 which completed wave ((x)) in higher degree. The Index has turned lower in wave ((y)), but it still needs to break below wave ((w)) at 35700 to rule out any double correction. Down from wave ((x)), wave i ended at 35820 and wave ii ended at 36165. Expect the Index to see further downside to end wave (a) of ((y)) as an impulse. Then it should rally in wave (b) of ((y)) before turning lower again in wave (c) of ((y)) of 4. Near term, as far as pivot at 37014 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.

Nikkei (NKD_F) 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

NKD_F Elliott Wave Video

Inserted Video

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

CADJPY Perfect Reaction Higher From Equal Legs Area
January 31, 2024 By Hassan Sheikh
In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of the CADJPY. The rally from the 07 December 2023 low showed a higher high sequence & provided a short-term extreme trading opportunity. In this case, the pullback managed to reach the equal legs area & provided a perfect reaction higher. 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:
CADJPY 1-Hour Elliott Wave Chart From 1.25.2024


Here’s the 1-hour Elliott wave Chart from the 01/25/2024 Asia update. In which, the rally to 110.29 high ended wave 3 & made a pullback in wave 4. The internals of that pullback unfolded as Elliott wave flat structure where wave ((a)) ended at 109.21 low. Then a short-term bounce to 110.23 high-ended wave ((b)) & started the next leg lower in wave ((c)) towards 109.04- 108.31 equal legs area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.
CADJPY Latest 1-Hour Elliott Wave Chart From 1.31.2024


Above is the Latest 1-hour Elliott wave Chart from the 01/31/2024 Asia update. In which the pair is showing a perfect reaction higher taking place from the equal legs area. Right after ending the correction. Allowed members to create a risk-free position shortly after taking a long position. But a break above 110.29 high would still be needed to confirm the next leg higher minimum towards the 110.75- 111.33 area before the next pullback takes place.
If you are looking for real-time analysis in CADJPY along with the other Forex pairs then join us with a 14-Day Trial for the latest updates & price action.
Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry.
Stop loss and take profit levels with high accuracy and allow you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a Trial.
https://elliottwave-forecast.com/for...ual-legs-area/

$VZ: Verizon Communications Starts New Bullish Cycle

Verizon Communications Inc., commonly known as Verizon, is an US American telecommunications giant. Founded in 1983 as Bell Atlantic, it is a result of the break up of the Bell System into seven regional Baby Bells. Headquartered in New York, USA, Verizon is a part of DJIA, S&P100 and S&P500 indices. One can trade it under the ticker $VZ at NYSE.
In the initial article from July 2022, we have explained a buying idea to join the rally. As a matter of fact, we expected a zigzag lower from December 2019 highs to find support from 48.60-40.32 area. However, later on, $VZ broke $40.32 invalidation level. Now, we recognize the pattern from December 2019 peak as an Elliott wave regular flat being a 3-3-5 structure. Hereby, flat patterns can break 1.618x of the first leg. In the current blog, we discuss the wave structure of $VZ providing with next targets.
Verizon Monthly Elliott Wave Analysis 01.31.2024
The monthly chart below shows the Verizon stock $VZ traded at NYSE. From the all-time lows, the stock price has developed a grand super cycle in black wave ((I)) towards the all-time highs on October 1999 at 64$. Hereby, the middle part in red wave III of blue wave (III) shows a separation which is a typical feature of an impulse wave. From the October 1999 highs, a correction lower in black wave ((II)) has found its bottom in October 2008 at 21.56 low. From there, a new cycle within wave ((III)) has started and is currently in progress. The target for wave ((III)) will be 85.66-125.31 area and possibly higher.
A closer look on the wave ((III)) reveals that Verizon has developed an initial nest. Hereby, wave (I) of super cycle degree has ended in December 2019 at $62.22. From the highs, a pullback in wave (II) has unfolded as a regular flat structure. It is the preferred view that blue wave (II) has ended at October 2023 lows and next bullish cycle in blue wave (III) of black wave ((III)) has started. The target for blue wave (III) will be 70.74-95.88 area and even higher.


Verizon Weekly Elliott Wave Analysis 01.31.2024
The weekly chart below shows in more detail the pullback in blue wave (II) from December 2019 highs. It shows 3 swings as an Elliott wave regular flat pattern being 3-3-5 structure. Firstly, the cycle in red wave a has ended in March 2020 at $48.84 lows. Secondly, a bounce in connector wave b has printed a top in November 2020 at $61.95 highs. From there, the price has broken the 48.84 lows opening up a bearish sequence. Moreover, red wave c has reached more than 2.0x of the wave a. In fact, wave c of flat can surpass beyond 1.618x and even 2.0x of the wave a. It is the preferred view that flat in wave (II) has ended in October 2023.
While above $30.14 lows, next rally in blue wave (III) might be in the initial stages. Investors and traders can be looking to buy $VZ against $30.14 lows targeting 70.74-95.88 area in medium-term and 85.66-125.31 area in the long run.

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

Source:https://elliottwave-forecast.com/sto...rts-new-cycle/

DAX Near Term Support Area


Short Term Elliott Wave view in DAX suggests the rally from 10.23.2023 low is unfolding as a 5 waves impulse. Up from 10.23.2023 low, wave 1 ended at 17003.28. Wave 2 pullback subdivided into a double three Elliott Wave structure. Down from wave 1, wave ((w)) ended at 16448.71 and wave ((x)) rally ended at 16839.49. Wave ((y)) lower subdivided into a zigzag like the 30 minutes chart below shows. Down from wave ((x)), wave (a) ended at 16542.99 and wave (b) ended at 16752.24. Wave (c) lower ended at 16348.28 which completed wave ((y)) of 2 in higher degree.

Index has resumed higher in wave 3. Up from wave 2, wave (i) ended at 16705.49 and wave (ii) ended at 16607.72. Wave (iii) higher ended at 16967.72 and pullback in wave (iv) ended at 16860.05. Wave (v) higher ended at 16999.58 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) is in progress as a double three Elliott Wave structure. Down from wave ((i)), wave (w) ended at 16825.43 and wave (x) ended at 16915.92. Expect wave (y) to extend lower to reach 16644.48 – 16747.95 area to complete wave (y) of ((ii)). Near term, as far as pivot at 16348.28 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.

DAX 30 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

DAX Elliott Wave Video

Inserted Video

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

USDCHF Selling The Pair At The Blue Box Area
February 1, 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 USDCHF published in members area of the website. As our members know, the pair is bearish against the 0.9246 pivot. Our team recommended members to avoid buying , while keep favoring the short side in the pair. Recently we got recovery that reached our selling zone. The pair found sellers 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.
USDCHF Elliott Wave 4 Hour Chart 01.23.2024
The pair ended cycle from the 0.92483 peak as 5 waves structure -(1) blue. Currently USDCHF is giving us (2) blue recovery which is unfolding as Elliott Wave Zig Zag Pattern. The price has reached extreme zone at 0.8706-0.8859 ( Blue Box – sellers zone). We don’t recommend buying the pair and prefer the short side from the blue box- equal legs zone. As the main trend is bearish, we expect to see at least 3 waves pull back from our selling zone. Once decline reaches 50 Fibs against the B red low , we will make short position risk free ( put SL at BE) and take partial profits. Invalidation for the short trades is break above 1.618 fib ext : 0.8859
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.


USDCHF Elliott Wave 4 Hour Chart 01.21.2024
The pair found sellers right at the Blue Box area : 0.8706-0.8859 . Recovery completed at the 0.8727 high and we are getting good reaction from the selling zone. Decline reached and exceeded 50 fibs against the connector’s low. So members who took the short trade are enjoying profits now in a risk free positions. While below 0.8727 high, next leg down can be in progress toward new lows. However we would need to see break of (1) blue low to confirm.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room


Elliott Wave Forecast
We cover 78 instruments in total, but not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room. If not a member yet, Sign Up for 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/tra...ual-legs-area/