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Beyond Meat (BYND) Impulsive Reversal Signals Further Upside
February 28, 2024 By EWFAyoub
Beyond Meat Inc (NASDAQ: BYND) is the first plant-based meat analogue company to go public. However, after an impressive 250% rally from the 2019 IPO, the stock suffered a 97% loss of it’s value within a span of 5 years in decline. The recent surge in price put the spotlight again on the stock so let’s dive into the technical chart based on the Elliott Wave Theory.
The initial rally from November 2023 unfolded as a 5 waves advance in wave ((1)) then it was followed by a technical 3 waves Zigzag structure in wave ((2)). As you can see in the following chart, the decline in wave ((2)) reached the blue box at equal legs area $6.86 – $5.23 from where it started the next rally in wave ((3)). The blue boxe in our chart is a High-frequency area where the market is likely to end cycles and make a turn.
The strong rally taking place is proposed to be wave (3) of ((3)) and therefore BYND is still expected to see at least 2 more swings to the upside before ending wave I within a regular impulsive 5 waves advance. The impulsive nature of the current advance ,which reached the 1.618 Fibonacci extension at $15.1, will support the stock during pullbacks in 3 , 7 or 11 swings until it ends the cycle from 2023 low ($5.45).
In conclusion, BYND is in the process of creating an impulsive reversal within the daily cycle which could lead to a long term shift of trend to the upside if the stock sees a followup to the current rally within the rest of this year.
BYND 8 Hour Chart 2.28.2024

Source:https://elliottwave-forecast.com/sto...sive-reversal/

NIO Should Keep Dropping to End an Impulse Structure
February 27, 2024 By EWFLuis
Nio Inc. (NIO) is a Chinese multinational automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric vehicles. The company develops battery-swapping stations for its vehicles, as an alternative to conventional charging stations. The company has raised over $5 billions from investors. In 2021, it plans to expand to 25 different countries and regions by 2025.
NIO Daily Chart November 2023


In the chart above, we can see how NIO made a wave I of (c) ended at 11.67 low and wave II bounce finished at 24.43 high. Market continued lower making 5 waves down, and the wave ((5)) of III made an ending diagonal structure completing at 7.33 low. Then, took a part a 3-3-5 flat correction as wave IV ending at 16.18 high.
From 16.18 high, NIO made a strong move to the downside. Wave (1) of ((1)) ended at 9.46 low, then bounced making a zig zag structure finishing wave (2) at 11.35. The momentum continued sending the stock to 7.93 to complete wave (3). A small reaction higher ended wave (4) at 9.22 and continued lower to completed wave (5) of ((1)) at 7.18. This wave ((1)) is the wave ((1)) of V that at the same time is the wave V of (c) of ((II)).
NIO Daily Chart February 2024


After almost 4 months, NIO continued developing the propused impulse as wave V. Up from wave ((1)), wave (A) ended at 8.51 high. Then 3 swings lower completed wave (B) at 7.01 and an ending diagonal higher ended wave (C) at 9.57 high and also wave ((2)) as an expanding flat correction. If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory). Down from wave ((2)). NIO continue lower in wave ((3)) and it should be near to end. Once wave ((3)) has finished, the stock should make a corrective rally as wave ((4)) that could be a bull trap for buyers. That is, because to complete an impulse structure we need 5 waves and actually the structure is incomplete. Therefore, if we see any rally, we are still looking for one more low that could reach 4.oo dollars or lower.

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Source:https://elliottwave-forecast.com/sto...lse-structure/

$GILD: Gilead Sciences Stock Approaches Daily Buying Area
February 11, 2024 By EWF Helgi
Gilead Sciences, Inc. is an US American biopharmaceutical company. It focuses on researching and developing antiviral drugs used in the treatment of HIV/AIDS, hepatitis B, hepatitis C, influenza, and COVID-19, including ledipasvir and sofosbuvir. In the 2000s, Gilead received approval for drugs including Viread and Hepsera, among others. It began evolving from a biotechnology company into a pharmaceutical company, acquiring several subsidiaries, though it still relied heavily on contracting to manufacture its drugs. Founded in 1987 and headquartered in Foster City, California, US, Gilead Sciences is a part of Nasdaq-100 and S&P-100 indices. One can trade it under the ticker $GILD at NASDAQ.
Gilead Sciences Monthly Elliott Wave Analysis 02.11.2024
The monthly chart below shows the Gilead Sciences shares $GILD traded at NASDAQ. From the IPO in 1992, the stock price has developed an initial cycle higher in blue wave (I) of super cycle degree towards 116.83 highs in October 2014. The impulsive structure higher shows an extended wave III. As a matter of fact, red wave III has surpassed 2.0x of the wave I. From the October 2014 highs, a correction lower in blue wave (II) has unfolded as an Elliott wave irregular flat pattern being 3-3-5 structure.
Firstly, red wave a of blue wave (II) has printed a low at $85.95 in December 2014. Then, a bounce has set an all-time high in June 2015. Later, from $123.37 highs, the price has broken $85.95 lows opening up next extension lower. It is the preferred view that red wave c has found an important bottom in December 2020. While above $56.56 lows, a new bullish cycle in blue wave (III) might have started and is now in the initial stages. The target for blue wave (III) will be 173-245 area and even higher.
In shorter cycles, red wave I of blue wave (III) might be in progress. It is unfolding as a leading diagonal pattern being 5-3-5-3-5 structure. Within it, waves ((1))-((3)) have ended already. Currently, pullback in black wave ((4)) is taking place and should find support in 7 swings against June 2022 lows. Then, next leg higher in black wave ((5)) should complete the structure of red wave I. Following pullback in red wave II should see support in 3, 7 swings against December 2020 lows for an acceleration higher in red wave III of blue wave (III).

Gilead Sciences Daily Elliott Wave Analysis 02.11.2024
The daily chart below shows in more detail the advance in black wave ((3)) and a pullback in black wave ((4)). From the June 2022 lows, black wave ((3)) of red wave I has ended in December 2022. It has the pattern of an impulse which is the most typical characteristics of the 3rd waves. From the 89.74 highs, correction in wave ((4)) is taking place. Hereby, the consolidation unfolds as a double three pattern. Firstly, from the December 2022 highs, 3 swings of blue (W) have set a low at $72.87 in October 2023. Secondly, a bounce in blue wave (X) has printed a connector high at $87.86. Now, $GILD has broken $72.87 lows opening up a bearish sequence. Blue wave (Y) should reach in 3 swings towards 71.04-60.62 area. From the bluebox area, expect another leg higher in black wave ((5)). The target will be 94.13-101.27 area and possibly higher.
Investors and traders can be using 71.04-60.62 bluebox area as a buying opportunity in $GILD targeting 94.13-101.27 area and higher in short-term and 173-245 area and beyond in the long run.



Gilead Sciences Video Elliott Wave Analysis 02.11.2024
Let us discuss in a video the wave structure, the sequences, short-term setups and long-term investment opportunities in the stock price action of the Gilead Sciences stock ($GILD).

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Source:https://elliottwave-forecast.com/vid...y-buying-area/

BlackRock (NYSE: BLK) New Bullish Sequence To the Upside
February 19, 2024 By EWFAyoub
BlackRock (NYSE: BLK) is the world’s largest asset manager, with $9.42 trillion in assets as of June 30, 2023. Headquartered in New York City, Blackrock has 70 offices in 30 countries, and clients in 100 countries. In this article, we will be taking a look at the technical structure for the stock based on the Elliott Wave Theory and we’ll define the pth within current cycles.
Following the 48% decline in 2022, BLK established a major low in October 2022 with the rest of the stock market. The corrective 3 waves decline from 2021 peak is proposed to be a wave (II) pullback and consequently the stock is getting ready for the next leg to the upside within wave (III).
BLK initially rallied within an impulsive 5 waves advance in wave I then it did 3 waves pullback in wave II. Up from October 2023, the stock managed to break above wave I peak and that move created a higher high sequence within daily cycle. Following this move, the stock is looking to remain supported above $503 and will be looking to extend higher at least toward $880 and extension can take it toward $990 which will be the key event after a break into new all time highs.
The break above November 2021 peak will be the key within the weekly cycle to establish a higher high sequence following the higher low of 2022. Consequently, investors will expect the stock to see more upside in the coming years and will be looking to buy into pullbacks in 3 , 7 or 11 swings.
BLK Weekly Chart 2.19.2024


The following video offers a technical outlook based on BLK’s Elliott Wave analysis within weekly cycle :
https://elliottwave-forecast.com/wp-....09-PM.mp4?_=1
Source:https://elliottwave-forecast.com/vid...lish-sequence/

Nasdaq (NQ) Extending Higher in Impulsive Structure


The short-term Elliott Wave View in the Nasdaq (NQ) suggests that rally from 1.5.2024 low is in progress as a nesting 5 waves impulse. Up from 1.5.2024 low, wave ((i)) ended at 18121.5 and pullback in wave ((ii)) ended at 17372.75. Internal subdivision of wave ((ii)) unfolded as a zigzag structure. Down from wave ((i)), wave (a) ended at 17542 and rally in wave (b) ended at 18026. Down from wave (b), wave i ended at 17717 and wave ii ended at 17903.5. The Index extended lower in wave iii towards 17452.5 and wave iv ended at 17614.5. Last leg wave v ended at 17372.75, which also completed wave (c) of ((ii)).

The Index has turned higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 18144.75. Pullback in wave (ii) unfolded as a double zigzag Elliott Wave structure. Down from wave (i), wave w ended at 17922 and wave x ended at 18059.50. Wave y lower ended at 17826 which completed wave (ii) in higher degree. The Index has turned higher in wave (iii). Near term, as far as pivot at 17372.75 low stays intact, expect Index to extend higher and any dips to find support in 3, 7, or 11 swing for more upside.

Nasdaq (NQ) 45 Minutes Elliott Wave Chart

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Nasdaq (NQ) Elliott Wave Video

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Source: https://elliottwave-forecast.com/sto...ive-structure/
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NASDAQ ($NQ_F) Another Elliott Wave Trading Setup
March 1, 2024 By EWF Vlada
Hello fellow traders. As our members know , NASDAQ has recently given us good buying opportunities. In this technical article we’re going to present another Elliott Wave trading setup we have had recently. NQ_F made pull back that has unfolded as Elliott Wave Double Three pattern. It made clear 3 waves down from the February 23rd peak and completed correction right at the Equal Legs zone ( Blue Box Area) . In further text we’re going to explain the Elliott Wave pattern and trading setup.
NASDAQ Elliott Wave 1 Hour Chart 02.28.2024
NASDAQ shows lower low sequences from the peak, suggesting intrady pull back is still in progress. Correction has wxy red labeling. The price structure is incomplete at the moment, calling for a more downside toward 17836.5-17698.6 area. We don’t recommend selling NASDAQ and prefer the long side from the marked Blue Box ( buying zone). Once NQ_F reaches our buying area, we expect it to find buyers and make either rally toward new highs or in 3 waves bounce alternatively. Invalidation of the trade would be break below 1.618 fib ext: 17698.6
Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.
Quick reminder on how to trade our charts :
Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.


NASDAQ Elliott Wave 1 Hour Chart 02.28.2024
NQ_F reached our buying zone at : 17836.5-17698.6 and found buyers as expected. NASDAQ is giving us very good reaction from the Blue Box Area. We call pull back (ii) blue completed at the 17828 low. Consequently, any long positions should be risk free by now. We would like to see break of (i) blue peak (February 23rd) to confirm next leg up is in progress.
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...rading-setups/

XLV Made Reaction From The Blue Box ( Buying Zone )
March 4, 2024 By EWF Vlada
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of XLV ETF, published in members area of the website. As our members know we have been favoring the long side in XLV. The ETF is bullish against the 137.21 pivot. Recently we got a pull back that has made a clear 3 waves pull back that found buyers right at the Blue Box area. In the further text we are going to explain the Elliott Wave forecast and trading strategy.
XLV Elliott Wave 1 Hour Chart 03.01.2024
XLV is giving us wave (2) pull back that is unfolding as Double Three pattern. Pull back has already reached extreme zone from the peak. We expect ETF to find buyers at 144.95-143.56 area for further rally toward new highs or for a 3 waves bounce at least. We don’t recommend selling XLV against the main bullish trend. Strategy is buying the dips at the marked extreme zone : 144.95-143.56 . Once bounce reaches 50 Fibs against the X red high , we will make long position risk free and take partial profits. Invalidation for the long trades is break of 1.618 fib ext : 143.56
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.


XLV Elliott Wave 1 Hour Chart 03.03.2024
XLV found buyers at the blue box and we got good reaction as expected. Pull back completed as Elliott Wave Double Three Pattern. Bounce 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 wave (2) pull back completed at the 144.56 low. However ,we still need to see break above (1) blue peak to confirm next leg up is in progress. As far as the price holds above 144.56 low, we expect to see further strength. Otherwise, break of 144.56 low would make incomplete lower low sequences from the peak and open possibility of extension down within the 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


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...x-buying-zone/

Bitcoin (BTCUSD) Next Bullish Leg In Progress


Short Term Elliott Wave View in Bitcoin (BTCUSD) suggests that cycle from 2.1.2024 low is in progress as an impulse. Up from 2.1.2024 low, wave ((i)) ended at 52998 and dips in wave ((ii)) ended at 50639.8. The crypto currency extended higher in wave ((iii)) towards 64105.7. Internal subdivision of wave ((iii)) unfolded as a 5 waves impulse in lesser degree. Up from wave ((ii)), wave (i) ended at 51958.1 and pullback in wave (ii) ended at 50909.5. The crypto currency extended higher in wave (iii) towards 57456.9 and pullback in wave (iv) ended at 56267.9.

Final leg wave (v) ended at 64105.7 which completed wave ((iii)). Pullback in wave ((iv)) ended at 58498.9. Bitcoin then extends higher again in wave ((v)). Up from wave ((iv)), wave (i) ended at 63676.4 and dips in wave (ii) ended at 60357.6. The crypto extended again in wave i towards 63260.7 and pullback in wave ii ended at 61437.3. Expect wave iii to end soon and the crypto to pullback in wave iv before turning higher again. Near term, as far as pivot at 58498.9 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.

Bitcoin (BTCUSD) 60 Minutes Elliott Wave Chart

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Bitcoin (BTCUSD) Elliott Wave Video

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Consumer Staples Select Sector ($XLP) Found Buyers at the Blue Box Area as Expected.
March 4, 2024 By EWFTaha
Hello everyone. In today’s article, we will look at the past performance of the 1 Hour Elliott Wave chart of Consumer Staples Select Sector ($XLP). The rally from 2.14.2024 low at $72.36 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:
$XLP 1H Elliott Wave Chart 3.01.2024:
Here is the 1H Elliott Wave count from 3.01.2024. We expected the pullback to find buyers at the blue box area at 74.00 – 73.43 in 3 swings.
$XLP 1H Elliott Wave Chart 3.03.2024:
Here is the 1H update few days later from 3.03.2024 showing the bounce taking place as expected. The ETF reacted higher from the blue box area after 3 swings allowing longs to get a risk free position. The ETF is expected to remain supported towards $76 – 78 before another pullback can happen.

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Source:https://elliottwave-forecast.com/sto...area-expected/

Will Crocs Inc (CROX) Continue Upside As Bullish Sequence?
March 5, 2024 By EWFRaj
Crocs Inc., (CROX) designs, manufactures, markets & distributes casual lifestyle footwear & accessories for men, women & children worldwide. The company sells its products in approximately 85 countries through wholesalers, retail stores, e-commerce sites & third-party marketplaces. It is based in Colorado, US, comes under Consumer Cyclical sector & trades as “CROX” ticker at Nasdaq. It is having market cap of 7.54 B$ as on 4-March, 2024.
CROX favors upside in 3 of (3) of ((1)) of III & expect to remain choppy to higher above $74.00 low of II. It needs to break above $183.88 high of (I) to confirm the bullish sequence in (III).
CROX – Elliott Wave Latest Weekly View:

It placed (I) at $183.88 high in weekly since 2008 low as impulse sequence. It corrected lower in (II) as zigzag down ended at $46.08 low as 0.764 Fibonacci retracement of (I) in 2022. Above there, it was showing impulse I higher, ended at $151.32 high. Within I sequence, it placed ((1)) at $83.64 high, ((2)) at $65.17 low, ((3)) at $143.50 high, ((4)) at $109.47 low & finally ended ((5)) at $151.32 high. It corrected lower in II at $74.00 low as around 0.764 Fibonacci retracement of I as dip pullback.
CROX – Elliott Wave Latest Daily View:

Within II correction, it placed ((A)) at $101.65 low and ((B)) at 130.36 high as flat bounce. Finally, it ended ((C)) at $74.00 low as 5 swings lower between extreme areas within $80.76 – $50.05 as II correction. It reacted higher in (1) of ((1)) of III from the extreme areas, which ended at $110.90 high. It corrected lower in (2) at $85.71 low. Later, it already broke above (1) high, confirmed upside to be (3) of ((1)) of III. Within (3), it ended 2 at $94.50 low & favors upside in ((i)) of 3, which may end soon before correcting in ((ii)) of 3. It should extend at least towards $122.55 – $145.39 area to finish (3) of ((1)). Further upside in III will confirm when it breaks above I high.
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DAX Bullish Impulse Looks Incomplete


Short Term Elliott Wave View in DAX suggests that rally from 1.17.2024 low is in progress as a 5 waves impulse. Up from 1.17.2024 low, wave ((i)) ended at 17049.52 and dips in wave ((ii)) ended at 16834.94. Up from there, wave ((iii)) is in progress as a 5 waves impulse. Wave (i) ended at 17198.45 and pullback in wave (ii) ended at 17019.15. The Index extends higher again in wave (iii). Up from wave (ii), wave i ended at 17084.87 and wave ii dips ended at 17029.59. Wave iii higher ended at 17429.66 and wave iv ended at 17354.76. Final leg wave v ended at 17816.52 which completed wave (iii).

Pullback in wave (iv) ended at 17643.11 with internal subdivision as a double three. Down from wave (iii), wave w ended at 17690.89 and wave x ended at 17759.02. Final leg wave y ended at 17643.11 which completed wave (iv) in higher degree. The Index then resumes higher in wave (v). Up from wave (iv), wave i ended at 17746.57 and wave ii ended at 17677.03. Near term, as far as pivot at 16834.94 stays intact, expect Index to extend higher.

DAX 60 Minutes Elliott Wave Chart

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DAX Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...ks-incomplete/
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Dollar Index (DXY) Should Continue Lower


Short Term cycle in Dollar Index (DXY) shows an incomplete bearish sequence from 2.14.2024 high favoring further downside. Down from 2.14.2024 high, wave 1 ended at 103.43 as an impulsive structure. Wave ((i)) ended at 104.18 and wave ((ii)) ended at 104.67. Wave ((iii)) lower ended at 103.79 and rally in wave ((iv)) ended at 104.21. Final leg wave ((v)) lower ended at 103.43 which completed wave 1 in higher degree. The Index then corrected in wave 2 with internal subdivision as a double three Elliott Wave structure.

Up from wave 1, wave ((w)) ended at 104.13 and dips in wave ((x)) ended at 103.6. Internal subdivision of wave ((x)) subdivided into a zigzag structure. Down from wave ((w)), wave (a) ended at 103.76 and wave (b) ended at 104. Wave (c) lower ended at 103.6 which completed wave ((x)). The Index then turned higher in wave ((y)) as a double three. Up from wave ((x)), wave (w) ended at 104.24 and wave (x) ended at 103.65. Wave (y) higher ended at 104.29 which completed wave ((y)) of 2 in higher degree. The Index has extended lower in wave 3. Down from wave 2, wave (i) ended at 103.76 and wave (ii) ended at 103.89. Expect the Index to extend lower and rally to fail in 3, 7, or 11 swing for further downside.

Dollar Index (DXY) 60 Minutes Elliott Wave Chart

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DXY Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...ontinue-lower/
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QQQ Strong Reaction Higher From The Blue Box Area
March 5, 2024 By Hassan Sheikh
In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of QQQ. We presented to members at the elliottwave-forecast. In which, the rally from the 21 February 2024 low unfolded as an impulse structure and showed a bullish sequence. Suggested that ETF should see more upside extension to complete the impulse sequence. Therefore, we advised members not to sell the ETF & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
QQQ 1-Hour Elliott Wave Chart From 2.29.2024


Here’s the 1-hour Elliott wave chart from the 2/29/2024 Post-Market update. In which, the short-term cycle from the 2/21/2024 low ended in wave ((i)) as impulse at $440.59 high. Down from there, the ETF made a pullback in wave ((ii)) to correct that cycle. The internals of that pullback unfolded as Elliott wave double structure where wave (w) ended at $435.60 low. Wave (x) bounce ended at $438.60 high and wave (y) managed to reach the blue box area at $433.63- $430.54. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.
QQQ Latest 1-Hour Elliott Wave Chart From 3.05.2024


This is the latest 1-hour Elliott wave Chart from the 3/05/2024 Post-Market update. In which the ETF is showing a reaction higher taking place, right after ending the double 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. Since then the ETF has managed to make a new high above $440.59 high confirming the next extension higher towards $452.30- $456.78 area.
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Renminbi (USDCNH) Bullish Corrective Sequence is still Incomplete
In the last years, the renminbi made a pause in his attempt to get stronger against USD dollar. In February 2014, renminbi found support at 6.0153 as wave ((III)) and from there it made a perfect zig – zag correction structure to equal legs at 7.1964 in June 2020. After these 3 swings, USDCNH should have continued with the downtrend. However, the pair turning up again breaking 7.1964 high suggesting that market is developing a double correction structure. (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory)
USDCNH November 2023 Weekly Chart


In the chart above, looks like the first leg of the wave “c” ended as wave ((1)). Up from 6.6883 wave “b” low, we can see 5 swings higher creating an impulse. First wave ended at 6.9967. Wave (2) pullback at 6.8107 low. Then USDCNH rally finishing wave (3) at 7.2855. Wave (4) correction completed at 7.1162 low. Last push to 7.3679 ended wave (5) and wave ((1)). Currently, we are expecting a correction as wave ((2)) of “c”. This movement should drop to 7.12 – 6.95 area correlating with USDX weakness that we are looking for. After finishing wave ((2)), pair should rally in 3 swings to build an impulse as wave “c” to 7.4866 – 7.7646 area. This also will finish the double correction wave (y), and the wave ((IV)) before renminbi continues with the downtrend.
USDCNH March 2024 Weekly Chart


After 4 months, We can see a pullback as we expected. The drop in wave ((2)) ended at 7.08 in the 7.12 – 6.95 area and it has bounced higher. The reaction is not what we expected and pair looks like is lagging. Therefore, we are calling the possibility that structure ended at 7.08 could be wave (A) of ((2)), the bounce the wave (B) of ((2)) and we should see one more low to end wave ((2)) before resuming the rally to 7.4866 – 7.7646 area to complete wave ((IV)) correction.
USDCNH March 2024 Alternative Weekly Chart


As alternative view, we cannot rule out that wave ((2)) is completed at 7.08 and the pair should continue to the upside to end the double correction as wave ((IV)).
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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 24 hours chat room where we will help you with any questions about the market.
Source:https://elliottwave-forecast.com/for...ce-incomplete/

MicroStrategy ( MSTR ) Breaks 2021 Peak with Bullish Momentum
March 6, 2024 By EWFAyoub
MicroStrategy Incorporated (NASDAQ: MSTR) is an American company that provides business intelligence, mobile software, and cloud-based services. Since 2020, MicroStrategy started investing in Bitcoin as a treasury reserve asset which impacted its stock price in the recent 4 years.
In this article, we’ll take a look at the Elliott Wave Structure taking place and explore the potential path for the coming months.
Down from 2021 peak, MSTR did 3 waves pullback within a wave (II) correction and found a major low in December 2022 at $132.56. This move represent the main connector for the upcoming cycle as the stock did manage to break above $1315 and creates higher high sequence within it’s weekly cycle.
The rally from the lows is clearly unfolding within an impulsive structure and the bullish sequence is aiming for an initial target at equal legs area $1443 – $1750. However looking at the impulsive nature of the move, it can extend toward the 61.8 Fibonacci extension at $2253 before ending wave I of (III).
MSTR is expected to keep finding buyers during short term pullbacks in 3 , 7 or 11 swings and should remain supported within it’s daily cycle for the coming months.
MicroStrategy (NASDAQ: MSTR) Weekly Chart 3.6.2024

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

Nasdaq 100 ETF (QQQ) Further Upside Expected


Short Term Elliott Wave View in Nasdaq 100 ETF (QQQ) suggests that the rally from 2.22.2024 low is in progress as a 5 waves impulse. Up from 2.22.2024 low, wave ((i)) ended at 435.18 and dips in wave ((ii)) ended at 425.29. The ETF extended higher in wave ((iii)) towards 440.59 with internal subdivision as a double three. Down from wave ((iii)), wave (w) ended at 435.6 and wave (x) ended at 438.60. Wave (y) lower ended at 433.36 which completed wave ((iv)).

Up from wave ((iv)), wave (i) ended at 441.4 and pullback in wave (ii) ended at 438.57. The ETF extended higher in wave (iii) towards 446.58 and pullback in wave (iv) ended at 445.02. Final leg wave (v) ended at 446.77 which completed wave ((v)) of 1. Pullback in wave 2 unfolded as a zigzag structure. Down from wave 1, wave ((a)) ended at 440.31 and wave ((b)) ended at 444.02. Wave ((c)) lower ended at 433.65 which completed wave 2. Up from there, wave ((i)) ended at 442 and pullback in wave ((ii)) ended at 436.03. The ETF extended higher in wave (i) towards 446.72 and wave (ii) pullback ended at 441.87. Near term, as far as pivot at 421.43 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

QQQ 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

QQQ Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...side-expected/
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Dow Futures ( YM_F ) : Buying The Dips At The Blue Box Area
March 11, 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 Dow Jones Futures published in members area of the website. As our members know YM_F has recently made pull back that has unfolded as Elliott Wave Zig Zag pattern. It made clear 3 waves down from the February 23rd peak and completed correction right at the Equal Legs zone ( Blue Box -Buying Area) . In further text we’re going to explain the Elliott Wave pattern and trading setup.
YM_F Elliott Wave 1 Hour Chart 03.05.2024
Dow Jones Futures is showing lower low structure from the peak. Correction has a b c labeling, when we can still be in c red leg. The price structure is incomplete at the moment, calling for a more downside in near term toward : 38604-38471 buying zone. We don’t recommend selling YM_F and prefer the long side from the marked Blue Box ( buying zone). Once Dow Jones reaches our buying area, it should ideally make either rally toward new highs or in 3 waves bounce alternatively. Once bounce reaches 50 Fibs against the b red high, we will make long position risk free ( put SL at BE) and take partial profits.
Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.
Quick reminder on how to trade our charts :
Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.


YM_F Elliott Wave 1 Hour Chart 03.09.2024
Dow Jones made extension toward our buying zone at : 38604 – 38471 as we expected. YM_F found buyers at the blue box and we are getting good reaction from there. Consequently, any long positions from the equal legs area should be risk free by now. As far as the price stays above 38473 low, we can see further strength in Dow Jones toward new highs 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...ying-blue-box/

Ethereum (ETHUSD) : Buying The Dips At The Blue Box Area
March 11, 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 ETHUSD published in members area of the website. As our members know Ethereum has given us 3 waves pull back recently that found buyers right at the Blue Box ( Buying Area). We have been favoring the long side due to impulsive bullish sequences the crypto is showing in the cycle from the October 2023 low. In further text we’re going to explain the short term Elliott Wave forecast and trading setup.
ETHUSD Elliott Wave 1 Hour Chart 03.10.2024
Current view suggests Ethereum ended short term cycle from the 3204.15 low as 5 waves rally -((i)) black. Currently the crypto is doing intraday pull back , wave ((ii)) black. We expect to see another leg down (c) of ((ii)) to complete the structure. We don’t recommend selling ETHUSD and prefer the long side from the marked Blue Box ( buying zone). Once Ethereum reaches our buying area, it should ideally make either rally toward new highs or in 3 waves bounce alternatively. When bounce reaches 50 Fibs against the (b) blue high, we will make long position risk free ( put SL at BE) and take partial profits.
Quick reminder on how to trade our charts :
Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.
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.



ETHUSD Elliott Wave 1 Hour Chart 03.11.2024
Ethereum found buyers right at the marked blue box as expected and we got good reaction from there. Pull back completed at 3733 low. Rally from that level looks impulsive. We expect ETHUSD to keep finding intraday buyers in 3,7,11 swings and 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/tra...ng-blue-box-2/

GBPJPY should Resuming to the Upside After a Corrective Pause
GBPJPY has ended a cycle from 14.12.2023 low. Up from 14.12.2024 low, wave (1) ended at 191.32 and pullback in wave (2) is in progress. The pair resumes lower in wave ((i)) with internal subdivision as 5 waves. Down from wave (1), wave (i) ended at 190.34 and wave (ii) pullback ended at 190.99. Pair resumes lower in wave (iii) towards 189.34 and bounce in wave (iv) ended at 190.03. Final leg wave (v) ended at 189.02 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) higher did a zigzag Elliott Wave structure ending at 191.18 high.
Down from wave ((ii)), wave (i) ended at 189.84 and wave (ii) pullback ended at 190.68. Pair resumes lower in wave (iii) towards 188.23 and bounce in wave (iv) ended at 188.79. Last wave (v) ended at 188.22 which completed wave ((iii)) in higher degree. Rally from 188.22 low ended at 189.72 and also wave ((iv)) correction. Currently, we are expecting to complete an ending diagonal as wave ((v)) and also wave A where market should reacgt higher in 3, 7 or 11 swings correction as wave B before resuming to the downside in wave C to finish the correction in wave (2) lower.
GBPJPY 60 Minutes Elliott Wave Chart

GBPJPY Elliott Wave Video

GBPJPY should Resuming to the Upside After a Corrective Pause
GBPJPY has ended a cycle from 14.12.2023 low. Up from 14.12.2024 low, wave (1) ended at 191.32 and pullback in wave (2) is in progress. The pair resumes lower in wave ((i)) with internal subdivision as 5 waves. Down from wave (1), wave (i) ended at 190.34 and wave (ii) pullback ended at 190.99. Pair resumes lower in wave (iii) towards 189.34 and bounce in wave (iv) ended at 190.03. Final leg wave (v) ended at 189.02 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) higher did a zigzag Elliott Wave structure ending at 191.18 high.
Down from wave ((ii)), wave (i) ended at 189.84 and wave (ii) pullback ended at 190.68. Pair resumes lower in wave (iii) towards 188.23 and bounce in wave (iv) ended at 188.79. Last wave (v) ended at 188.22 which completed wave ((iii)) in higher degree. Rally from 188.22 low ended at 189.72 and also wave ((iv)) correction. Currently, we are expecting to complete an ending diagonal as wave ((v)) and also wave A where market should reacgt higher in 3, 7 or 11 swings correction as wave B before resuming to the downside in wave C to finish the correction in wave (2) lower.
GBPJPY 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

GBPJPY Elliott Wave Video