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RUSSELL Futures ($RTY_F) Buying The Dips At The Blue Box Area
March 21, 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 RUSSELL Futures $RTY_F published in members area of the website. As our members know we are favoring the long side in Indices. $RTY is another instrument that has given us good trading setup recently. RUSSELL made clear 3 waves down from the March 8th peak 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.
RUSSELL Elliott Wave 1 Hour Chart 03.18.2024
RUSSELL is showing lower low sequences from the peak, suggesting short term pull back is still in progress. Correction has ((a))((b))((c)) labeling. The price structure is incomplete at the moment, calling for another leg down toward : 2036.78-1991.86. We don’t recommend selling RTY_F and prefer the long side from the marked Blue Box ( buying zone). Once RUSSELL 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)) black 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.


RUSSELL Elliott Wave 1 Hour Chart 02.28.2024
RUSSELL reached our buying zone at : 2036.78-1991.86 and found buyers as expected. RTY_F is giving us very good reaction from the Blue Box Area. We call pull back 2 red completed at the 2033.3 low. Consequently, any long positions should be risk free by now. We would like to see break of 1 red peak (March 8th) to confirm next leg up is in progress. Once it breaks above 03.08. peak, we can look to buy intraday dips again in 3,7,11 swings against the 2033.3 low
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...ng-equal-legs/

Russell 2000 (RTY) Looking for Short Term Pullback Soon

Short Term Elliott Wave view in Russell 2000 (RTY) suggests that rally to 2146 ended wave 1. Pullback in wave 2 unfolded as a zigzag Elliott Wave structure. Down from wave 1, wave ((a)) ended at 2073.2 and wave ((b)) ended at 2109.30. Down from there, wave (i) ended at 2075.3 and wave (ii) ended at 2106.20. The Index extended lower in wave (iii) towards 2040.4 and wave (iv) ended at 2076.4. Final leg wave (v) ended at 2032.29 which completed wave ((c)) of 2 in larger degree.

The Index has turned higher in wave 3. Confirmation is still necessary with a break above wave 1 at 2146 to rule out a double correction. Up from wave 2, wave (i) ended at 2065.7 and dips in wave (ii) ended at 2047.80. Up from there, wave i ended at 2057.2 and wave ii ended at 2048.70. Wave iii higher ended at 2111.1 and wave iv ended at 2104.70. Wave v ended at 2122.3 which completed wave (iii). Pullback in wave (iv) ended at 2104.90. Expect the Index to end wave (v) of ((i)) soon, then it should pullback in wave ((ii)) to correct cycle from 3.19.2024 low in 3, 7, or 11 swing before it resumes higher. Near term, as far as pivot at 2032.3 low stays intact, expect dips to find support in 3, 7, 11 swing for more upside.

Russell 2000 (RTY_F) 60 Minutes Elliott Wave Chart

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RTY_F Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...pullback-soon/
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GBPUSD Elliott Wave : Buying The Dips At The Blue Box Area
March 21, 2024 By EWF Vlada
Hello fellow traders.
In this technical article, we’re going to take a look into the Elliott Wave charts of GBPUSD, exclusively presented in the members’ area of our website. As our members know GBPUSD has recently made pull back that made clear 3 waves down from the March 8th 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.
GBPUSD Elliott Wave 1 Hour Chart 03.18.2024
The pair is correcting cycle from the 1.2597 low. The pull back is showing lower low sequences from March 8th peak. Current view suggests that the correction is still in progress. Our analysis forecasts further downside toward the 1.2675-1.2597 area ( blue box).
Despite the expected extension lower, we advise against selling GBPUSD. Upon reaching this blue box area, we anticipate the pair to attract buyers. We expect to se either rally towards new highs or a corrective bounce in three waves at least. Once the bounce reaches the 50% Fibonacci retracement level against the connector high, we’ll secure our position by moving the stop-loss to breakeven. To safeguard our trade, we’ll closely monitor for any break below the marked invalidation level : 1.2597.
A quick reminder:
Our charts are designed for simplicity and ease of trading:

1. Red bearish stamp + blue box = Selling Setup
2. Green bullish stamp + blue box = Buying Setup
3. Charts with Black stamps are deemed non-tradable.

For those eager to deepen their understanding of Elliott Wave Patterns, we invite you to explore our Free Elliott Wave Educational Web Page.

GBPUSD Elliott Wave 1 Hour Chart 03.21.2024
The pair found buyers within the Blue Box area as expected. We got a decent reaction from the 1.2667 low. As a result, traders who entered long positions are now enjoying risk-free profits. The bounce has exceeded the 50% Fibonacci retracement level against the connector peak. With the price holding above the 1.2667 low, we believe the next leg up can be in progress. For confirmation on the next leg up, we’re looking for a break above the((i)) black peak.
Please bear in mind that the market is constantly evolving. The outlook presented here may have shifted since. For the latest updates, refer to the most recent charts available in our membership area. We focus on trading instruments with incomplete bullish or bearish swing sequences. The Live Trading Room highlights the best opportunities in real-time.


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

$UHRN : Buying Swatch Group in a Zigzag Pullback
March 21, 2024 By EWF Helgi
Swatch Group is a Swiss manufacturer of watches and jewellery. Besides the product line Swatch, the group owns brands including Blancpain, Breguet, ETA, Glashütte, Omega, Longines, Tissot, Hamilton, Certina, Rado and Harry Winston. As a matter of fact, the Swatch company employs about 36000 people in over 50 countries. Founded 1983 and headquartered in Biel/Bienne, Switzerland, it can be traded under tickers $UHRN and $UHR at Six Swiss Exchange. After printing the all-time highs in April 2014, the stock price has lost about 3/4 of the price by March 2020. Currently, we see Swatch starting a new larger cycle higher.
In the initial article from March 2021, we have called for a new cycle up. We were right. Then, we saw a pullback reseting part of the rise from March 2020 lows. In the second article from May 2022, we have analyzed the consolidation pattern and provided a buying area for medium- and long-term investors. Indeed, the stock has bounced from 40.95-29.82 area. We were right again. In the last article from January 2023, we were calling for next bullish cycle. That time, we saw a bounce, but it has failed. Now, the market is doing a zigzag lower providing with next buying opportunity. In the current blog, we provide an update including buying area and price targets.
Swatch Monthly Elliott Wave Analysis 03.21.2024
The monthly chart below shows the Swatch stock $UHRN traded at Six Swiss. From the all-time lows, the stock price has developed a cycle higher in wave ((I)) of a grand super cycle degree. Swatch has printed the all-time highs in April 2014 at 108.00. Without any doubt, the advance is a textbook quality impulsive move up in 5 waves. Also, the subdivisions are motive waves, too. From April 2014 highs, a correction lower in wave ((II)) has unfolded as a double three pattern being 3-3-3 structure. It has reached the equal legs extension area towards 31.74-17.66. From that area, a strong reaction higher can be seen. Hereby, Swatch might be in the first stages of a new cycle in black wave ((III)) higher. While above 28.56, Swatch should extend towards the new all-time highs targeting the 135.96-202.34 area and even higher.


Swatch Weekly Elliott Wave Analysis 03.21.2024
The weekly chart below shows the intial nest consisting of red waves I-II of blue wave (I) in progress. From the March 2020 lows, red wave I has developed an impuls higher. It has ended in June 2021 at 64.30. From there, a pullback in wave II is unfolding as an Elliott wave zigzag pattern. Firstly, wave ((A)) has developed a leading diagonal being 3-3-3-3-3 structure. It has ended in July 2022 at 40.40. Secondly, a connector in wave ((B)) has printed a lower high at 62.95. Thirdly, wave ((C)) has broken July 2022 lows opening up a bearish sequence. Now, it should reach 38.99-28.56 area. There, black wave ((C)) of red wave II should end and next bullish cycle in red wave III should start.
Investors and traders can be looking to buy $UHRN from 38.99-28.56 area targeting 64.30-86.44 area in the medium-term and 135.96-202.34 area and even higher in the long run.


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Source:https://elliottwave-forecast.com/sto...igzag-bluebox/

Chevron (CVX) Still in Expanded Flat Correction
March 25, 2024 By EWFHendra
Chevron Corporation (CVX) is one of the world’s largest integrated energy companies, engaged in all aspects of the oil and natural gas industry. Headquartered in San Ramon, California, Chevron operates in various segments including exploration and production, refining, and marketing. The company’s operations span across multiple continents, with significant assets in the United States, Australia, Kazakhstan, and several other countries. Below we update the Elliott Wave outlook for the company.
Chevron Monthly Elliott Wave Chart


Monthly Elliott Wave Chart of Chevron (CVX) above shows that the rally to 135.1 ended wave ((I)). Pullback in wave ((II)) unfolded as a zigzag Elliott Wave structure. Down from wave ((I)), wave (A) ended at 69.58 and rally in wave (B) ended at 133.88. The stock then extended lower in wave (C) towards 51.54 which completed wave ((II)) in higher degree. Chevron then extended higher in wave ((III)). Up from wave ((II)), wave (I) ended at 182.4. Pullback in wave (II) is in progress as expanded flat before the stock resumes higher again. As far as pivot at 51.54 low stays intact, expect dips to find support once the expanded flat correction is complete and the stock to extend higher.
Chevron Daily Elliott Wave Chart


Daily Elliott Wave Chart for Chevron above shows that rally to 182.4 ended wave (I). Pullback in wave (II) is unfolding as an expanded Flat Elliott Wave structure. Down from wave (I), wave a ended at 132.54 and wave b ended at 189.68. Stock then turned lower in wave c which subdivides into 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. Expect wave ((4)) to end below wave ((2)) and stock to turn lower 1 more leg in wave ((5)) before ending wave c of (II). As far as pivot at 51.97 low is holding, expect pullback to find buyers and stock to extend higher.
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Source:https://elliottwave-forecast.com/sto...at-correction/

Gold (XAUUSD) Looking to do Larger Degree Correction

Short Term Elliott Wave view in Gold (XAUUSD) suggests that Gold ended the cycle from 12.13.2023 low. Rally from 12.13.2023 low unfolded as an impulse. Up from there, wave ((i)) ended at 2088.48 and dips in wave ((ii)) ended at 1984.37. The metal then resumed higher in wave ((iii)) towards 2195.15 as the 1 hour chart below shows. Pullback in wave ((iv)) unfolded as a double three Elliott Wave structure. Down from wave ((iii)), wave (w) ended at 2150.45 and wave (x) ended at 2179.81. Wave (y) lower ended at 2145.70 which completed wave ((iv)).

Final leg wave ((v)) ended at 2222.91 which completed wave 1 in higher degree. The metal is now in larger degree wave 2 pullback to correct cycle from 12.13.2023 low. The pullback unfolded as a zigzag Elliott Wave structure. Down from wave 1, wave (i) ended at 2192.3 and wave (ii) ended at 2212.45. Wave (iii) lower ended at 2162, wave (iv) ended at 2180.13, and wave (v) lower ended at 2156.7 which completed wave ((a)) in higher degree. Wave ((b)) unfolded as a zigzag structure. Up from wave ((a)), wave (a) ended at 2178.29 and wave (b) ended at 2163.2. Expect wave (c) of ((b)) to end at 2184.9 – 2198 before the metal turns lower. As far as pivot at 2222.92 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.

Gold (XAUUSD) 60 Minutes Elliott Wave Chart

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XAUUSD Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...ee-correction/
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VanEck Gold Miners ETF ( $GDX ) Found Buyers at the Blue Box Area as Expected.
March 25, 2024 By EWFTaha
Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of VanEck Gold Miners ETF ($GDX) . The rally from 2.28.2024 low at $25.66 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:
5 Wave Impulse Structure + ABC correction


$GDX 1H Elliott Wave Chart 3.19.2024:
Here is the 1H Elliott Wave count from 3.19.2024. We expected the pullback to find buyers at the blue box area at 29.10 – 28.49 in 3 swings.
$GDX 1H Elliott Wave Chart 3.21.2024:
Here is the 1H update few days later from 3.21.2024 showing the bounce taking place as expected. The ETF has reacted higher from the blue box area allowing longs to get risk free. The ETF is expected to remain supported with a target area towards $33 – 36 before another pullback can happen.

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

$1810: Electronics Manufacturer Xiaomi Reacting from Buying Area
March 25, 2024 By EWF Helgi
Xiaomi Inc. is a Chinese designer and manufacturer of consumer electronics and software. Behind only Samsung and since 2021 surpassing Apple, it is the second largest manufacturer of the smartphones in the world. Most of them run the MIUI operating system. It is also a major manufacturer of appliances including televisions, smartwatches, flashlights, unmanned aerial vehicles. These and other products are connected by Internet of Things (IoT) and Xiaomi Smart Home platforms. Founded 2010, it is headquartered in Haidian District, Beijing, China. International investors can trade it under the ticker $1810 at HKEX. The company is a part of Hang Seng index. Also, one can trade Xiaomi under the ticker $XIACF in US in form of ADRs. Today, Xiaomi is employing more than 33’000 people and owns such brands as Redmi, Pocophone, BrandShark among others.
In the initial article from November 2022, we have provided with weekly support area. Moreover, we have called the low in place. We were right. Now, we see next rally confirmed as the descending channel has been broken. In the current article, we discuss the wave structure, buying ideas and the targets.
Xiaomi Weekly Elliott Wave Analysis 03.24.2024
The monthly chart below shows the Xiaomi shares $1810 traded at HKEX. From the IPO in July 2018, the stock price has developed an initial cycle higher in blue wave (I) of super cycle degree towards 35.90 all-time highs in January 2021. After the impulsive structure higher, a correction lower in blue wave (II) is unfolding as an Elliott wave zigzag pattern being 5-3-5 structure.
Firstly, red wave a of blue wave (II) has printed a low at 20.65 in March 2021. Then, a bounce has set a connector wave b at 30.45 highs in June of the same year. Later on, the price has broken 20.65 lows opening up a bearish sequence. As a consequence, red wave c should find support from 15.23-5.80 area. As a matter of fact, the price has reached that area and the RSI reading points towards idea that the entire correction as wave (II) has ended. While above the lows of October 2022 at 8.31, a new bullish cycle in blue wave (III) might have started and is now in the initial stages.
Shorter Cycles in Xiaomi and Buying Opportunities
In shorter cycles, we can see red wave I in progress. It can be unfolding as a leding diagonal being 3-3-3-3-3 structure. Hereby, waves ((1))-((4)) are complete. Now, while above 11.84 lows, black wave ((5)) is taking place. It can reach towards 18.19-20.16 area. There red wave I should end and a pullback in red wave II can start. It should find support in 3, 7 swings against October 2022 lows before acceleration higher in red wave III can start.
Investors can be looking to buy the stock of Xiaomi from 15.23-5.80 area targeting 44.23-66.44 area and even higher in the long run. On the other hand, traders might be waiting the red wave I to end first and then buy it in a pullback as wave II in 3, 7 swings against October 2022 lows.


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Source:https://elliottwave-forecast.com/sto...g-buying-area/

Nikkei (NKD_F) Looking to End Impulsive Rally

Short Term Elliott Wave view in Nikkei (NKD) suggests pullback to 38136 on 3.12.204 low ended wave 4. Index then turns higher in wave 5. The rally from 3.12.2024 low is in progress as a 5 waves impulse. Up from wave 4, wave ((i)) ended at 39055. Pullback in wave ((ii)) ended at 38155 as a zigzag. Down from wave ((i)), wave (a) ended at 38310, wave (b) ended at 38740 and wave (c) lower ended at 38155. Index then resumed higher in wave ((iii)).

Up from wave ((ii)), wave (i) ended at 38650 and wave (ii) pullback ended at 38390. Wave (iii) higher ended at 39850 and pullback in wave (iv) ended at 39505. Final leg wave (v) ended at 40960 which completed wave ((iii)). Down from there, wave ((iv)) unfolded as a zigzag Elliott Wave structure. Down from wave ((iii)), wave (a) ended at 40490 and wave (b) ended at 40680. Wave (c) lower ended at 40025 which completed wave ((iv)). Nikkei has resumed higher in wave ((v)). Up from wave ((iv)), wave (i) ended at 40530 and dips in wave (ii) ended at 40275. Near term, as far as pivot at 38136 low stays intact, expect Index to extend higher.

Nikkei (NKD_F) 60 Minutes Elliott Wave Chart

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NKD_F Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...pulsive-rally/
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Nasdaq 100 (NQ) Potential Support Area

Short Term Elliott Wave view in Nasdaq 100 (NQ) suggests that pullback to 18011.3 ended wave 4. The Index has turned higher in wave 5. Internal subdivision of wave 5 is unfolding as a diagonal. Up from wave 4, wave (i) ended at 18106.75 and wave (ii) ended at 18044. Wave (iii) higher ended at 18289.25 and wave (iv) ended at 18263.25. Final leg wave (v) ended at 18381 which completed wave ((i)). Pullback in wave ((ii)) ended at 18053.25 as a zigzag. The Index then resumed higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 18289.25 and wave (ii) ended at 18216.5. Wave (iii) higher ended at 18667.25 and wave (iv) ended at 18589.25. Final leg wave (v) ended at 18709 which completed wave ((iii)) in higher degree.

Wave ((iv)) pullback is in progress with internal subdivision as a double three. Down from wave ((iii)), wave a ended at 18492, wave b ended at 18626, and wave c lower ended at 18414.75. This completed wave (w) in higher degree. Rally in wave (x) ended at 18619 as a zigzag structure. Down from wave (x), wave w ended at 18439.25, and wave x ended at 18571.75. Expect the Index to extend lower in wave y to 18145 -18327 (blue box area) to complete wave (y) of ((iv)). From this area, the Index should resume higher or rally in 3 waves at least.

NQ 45 Minutes Elliott Wave Chart

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Nasdaq 100 (NQ) Elliott Wave Video
https://youtu.be/0QpMXKbj3HI

Source: https://elliottwave-forecast.com/new...-support-area/
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Bitcoin Perfect Reaction Higher From Blue Box Area
March 26, 2024 By Hassan Sheikh
In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of Bitcoin ticker symbol: $BTCUSD. We presented to members at the elliottwave-forecast. In which, the rally from the 11 September 2023 low is unfolding as an impulse structure. Showing a higher high sequence favored more upside extension to take place. Therefore, we advised members not to sell the crypto & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
Bitcoin 1-Hour Elliott Wave Chart From 3.18.2024


Here’s the 1-hour Elliott wave chart from the 3/18/2024 NY Midday update. In which, the short-term cycle from the 1/23/2024 low ended in wave (3) at $73814 high. Down from there, the BTCUSD made a pullback in wave (4) to correct that cycle. The internals of that pullback unfolded as Elliott wave double three structure where wave W ended at $65595 low. Wave X bounce ended at $70640 high and wave Y managed to reach the blue box area at $62334- $60378. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.
BTCUSD Latest 1-Hour Elliott Wave Chart From 3.26.2024


This is the latest 1-hour Elliott wave Chart from the 3/26/2024 Asia update. In which the Bitcoin 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. However, a break above $73814 high is still needed to confirm the next extension higher towards $73822- $76901 & avoid a double correction lower.
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Source:https://elliottwave-forecast.com/cry...gher-blue-box/

Freeport-McMoRan (FCX) Should Continue Upside
March 26, 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.
As showing in the previous article, FCX ended ((1)) of III at $46.73 high. It also ended ((2)) at $32.83 low & start reacting higher in ((3)), which confirms when it breaks above $46.73 high. It favors impulse upside in (3) of ((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. It ended II as 3 swing correction at $24.80 low as more than 0.5 Fibonacci retracement in July-2022. Above II low, 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, (3) at $41.16 high, (4) at $36.85 low & (5) at $46.73 high as ((1)). Below there, it ended ((2)) as double three correction at $32.83 low. Within ((2)), it placed (W) at $33.05 low, (X) at $44.70 high & (Y) at $32.83 low.
FCX – Elliott Wave Latest Daily View:

Above ((2)) low, it favors upside in (3) of ((3)) & need to break above $46.73 high to confirm the next move higher. It placed (2) of ((3)) at $36.26 low & favors upside in 1 of (3), which expect one more push higher to finish it before correcting in 2. As long as it stays above $36.26 low, it expects rally to resume in (3) of ((3)) of III. Once it break above ((1)) high, it should extend up to $54.79- $68.36 area for ((3)) higher.
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Source:https://elliottwave-forecast.com/sto...ntinue-upside/

Ethereum ETHUSD Buying The Dips After Elliott Wave Double Three
March 26, 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 Ethereum ETHUSD published in members area of the website. As our members know ETHUSD has recently made pull back that has unfolded as Elliott Wave Double Three Pattern. It made clear 7 swings from the March 11th 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 forecast
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.


ETHUSD H1 Update 03.18.2024
ETHUSD is doing correction that is unfolding as a 7 swings pattern. Pull back has WXY red labeling. First leg W red shows clear 3 waves ((a))((b))(c)) black, after which we got 3 waves bounce in X red connector. Consequently we assume that pull back is unfolding as Double Three pattern, when we expect to see 3 waves in Y red as well. The structure is still incomplete at the moment. ETHUSD is showing lower low sequences from the March 11th peak. We expect to see another leg down toward extreme area: 3313.34-3011.56 ( buying zone). Once Ethereum reaches proposed extreme zone, we expect the crypto to make a rally toward new highs or in 3 waves bounce alternatively.
You can learn more about Elliott Wave Double Three Patterns at our Free Elliott Wave Educational Web Page.


ETHUSD H1 Update 03.26.2024
Ethereum found buyers as expected. It made decent rally from the Blue Box. Bounce already reached 50 fibs against the X red connector which confirms cycle from the peak is done. Consequently, any long positions from the equal legs area are risk free by now and we have taken partial profits. We call wave (4) completed at the 3059.65low. Once ETHUSD make a break of March 11th peak, it will confirm next leg up is in progress.
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AMC Entertainment Will Bring Us More Selling Opportunities
March 27, 2024 By EWFLuis
AMC Entertainment Holdings, Inc. is an American movie theater chain headquartered in Leawood, Kansas, and the largest movie theater chain in the world. Founded in 1920, AMC has the largest share of the U.S. theater market ahead of Regal and Cinemark Theatres. It has 2,866 screens in 358 theatres in Europe and 7,967 screens in 620 theatres in the United States.
AMC ended a Grand Super Cycle in June 2021. In order to analyze the possible structure of Elliott we have transformed the chart to a logarithmic chart. The structure from the peak looks very clear, we have groups of bearish impulses connected by corrections. It is for this reason that a double correction structure is the best alternative for AMC’s decline. (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory)
AMC Daily Log Chart December 2023


Down from the 2021 peak, we can see an impulse that finished wave “a” at 129.00 low. The correction of this cycle ended a wave “b” at 343.30 high and then continued a new downward impulse. This impulse completed wave “c” at 37.70 low, and thus, the first part of the double correction structure as (w). Then connector wave (x) was shallow ending at 85.30 high. Then the downward trend continued, having a strong bearish momentum in the month of August. We can clearly see another bearish impulse from the high of 85.30. However, the possible wave ((5)) has extended too much in the last months and the impulse has been damage. Therefore, the structure lower from wave (x) is better to call as a double correction.
AMC Daily Log Chart March 2024



How you can see the forecast wave ((5)) has extend to much. You can think: “The structure is still an impulse,” but in this case not. If you check the RSI in daily timeframe, the RSI has erased divergence with a clear break. Therefore, that means there are 5 swings down from wave (x), but not an impulse rather these are part of a double correction. That is why we change the abc structure for a wxy structure. We can see 3 swings lower to end wave w at 7.05 low and wave x connector ended at 11.13 high. Now, we need 3 more swings lower complete the structure and the whole correction as wave ((II)). The first leg lower ended at 3.59 low as wave ((A)) and currently we are bulding wave ((B)) bounce. This wave ((B)) could end in 5.41 – 6.38 area, where AMC is going to give us a great opportunity to sell the market in wave ((C)) lower.
AMC Video March 2024

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S&P 500 (SPX) Looking to Complete 5 Waves Impulse


Short Term Elliott Wave view in S&P 500 (SPX) suggests cycle from 1.6.2024 low is in progress as a 5 waves impulse. Up from 1.6.2024 low, wave ((i)) ended at 4931.09 and pullback in wave ((ii)) ended at 4845.15. Wave ((iii)) higher ended at 5187.78 as the 30 minutes chart below shows and pullback in wave ((iv)) ended at 5095.88. The Index has resumed higher in wave ((v)) with subdivision as another 5 waves in lesser degree.

Up from wave ((iv)), wave (i) ended at 5179.87 and dips in wave (ii) ended at 5105.28. Index resumed higher in wave (iii) towards 5261.1. Pullback in wave (iv) ended at 5203.42. Internal subdivision of wave (iv) unfolded as a double three Elliott Wave structure. Down from wave (iii), wave a ended at 5229.87 and wave b ended at 5246.09. Wave c lower ended at 5216.32 which ended wave w. Rally in wave x ended at 5234.7. Down from wave x, wave a ended at 5225.05and wave b ended at 5230.38. Index then resumed lower in wave c towards 5203.42 which completed wave y of (iv). Near term, as far as pivot at 5105.28 stays intact, expect dips to find support in 3, 7, 11 swing for further upside.

S&P 500 (SPX) 30 Minutes Elliott Wave Chart

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S&P 500 (SPX) Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...waves-impulse/
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EUROSTOXX (SX5E) Buying The Dips At Blue Box Area
March 29, 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 EUROSTOXX (SX5E) Index published in members area of the website. Our members know we’ve presented many profitable long trading signals in different indices. $SX5E is one of them. EUROSTOXX recently made a clear three-wave correction from its peak on March 14th. The pull back completed right within the Equal Legs zone (Blue Box – Buying Area). In this discussion, we’ll break down the Elliott Wave pattern and its trading setup.
EUROSTOXX Elliott Wave 1 Hour Chart 03.17.2024
EUROSTOXX is showing bullish sequences within the cycle from the 4672.4 low, suggesting further strength ahead. Presently, the index is undergoing an intraday pullback (ii) in blue. The structure of this pullback remains incomplete, indicating short-term weakness towards the 4977.41-4948.7 area. We advise against selling $SX5E and instead favor the long side from the marked Blue Box (buying zone). Once $SX5E reaches our buying area, it should ideally either rally towards new highs or undergo a bounce in three waves alternatively. Once the bounce retraces 50% against the ‘b’ red, we will adjust our long positions to be risk-free by placing a stop loss at breakeven (BE).
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.


EUROSTOXX Elliott Wave 1 Hour Chart 03.17.2024
EUROSTOXX hit our buying zone at the 4977.81-4949.1 area and found buyers as expected. The index has reacted strongly from the Blue Box Area, breaking out towards new highs and confirming the continuation of the next upward leg. Consequently, any existing long positions should now be risk-free. We maintain our bullish positions within the current trade, expecting the index to keep finding buyers in 3, 7, and 11 swing sequences.
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/sto...dips-blue-box/

SCCO Should Rally In Bullish Sequence & Remain Supported
April 1, 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 expected to extend higher, while dips remain above $42.42 low of II. It broke to new high & erase the momentum divergence, confirming the upside to be (3) of ((3)) as the nest structure.
SCCO – Elliott Wave Latest Weekly View:

It placed I at $83.15 high & II at $42.42 low as flat correction in weekly sequence ended in September-2022. Above there, it ended ((1)) of III at $82.05 high. Within ((1)), it placed (1) at $49.41 high, (2) at $45.17 low, (3) at $78.76 high, (4) at $66.47 low & (5) at $82.05 high ((1)). It corrected in ((2)) as 0.382 Fibonacci retracement of ((1)) at $64.66 low.
SCCO – Elliott Wave Weekly View From 8.07.2023:

It placed (2) of ((3)) at $68.93 low & favors upside in (3) of ((3)) of III as it broke to new high in weekly. It expects ((3)) to extend towards $104.39 – $128.93 area as next possible extension. Currently, it favors upside in 3 of (3), while placed 2 at $77.14 low. We like to buy the pullback in 3, 7 or 11 swings at extreme areas to resume rally.
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Source:https://elliottwave-forecast.com/sto...ain-supported/

GBPUSD May See Support Soon From Inflection Area

Short Term Elliott Wave view in GBPUSD suggests that decline from 3.8.2024 high is unfolding s an impulse Elliott Wave structure. Down from 3.8.2024 high, wave (i) ended at 1.2745 and wave (ii) rally ended at 1.2823. Wave (iii) lower ended at 1.273 and wave (iv) ended at 1.2747. Final leg wave (v) ended at 1.2667 which completed wave ((i)). From there, pair rallied as a zigzag. Wave (a) ended at 1.2733 and wave (b) ended at 1.268. Wave (c) higher ended at 1.28 which completed wave ((ii)). Pair then resumed lower in wave ((iii)).

Down from wave ((ii)), wave (i) ended at 1.276 and wave (ii) ended at 1.278. Wave (iii) lower ended at 1.265, wave (iv) ended at 1.267 and wave (v) ended at 1.257. This completed wave ((iii)) in higher degree. Wave ((iv)) unfolded as a triangle and ended at 1.2645. Pair resumed lower afterwards. Down from wave ((iv)), wave i ended at 1.261 and wave ii ended at 1.264. Expect pair to extend two more lows to end wave (i) of ((v)). As far as pivot at 1.267 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.

GBPUSD 60 Minutes Elliott Wave Chart

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GBPUSD Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...flection-area/
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NVIDIA Corp ( $NVDA) Found Buyers at the Blue Box Area as Expected.
April 1, 2024 By EWFTaha
Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of NVIDIA Corp ($NVDA) . The rally from 3.19.2024 low at $850.05 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:
5 Wave Impulse Structure + ABC correction


$NVDA 1H Elliott Wave Chart 3.27.2024:
Here is the 1H Elliott Wave count from 3.27.2024. We expected the pullback to find buyers at the blue box area at 892.49 – 865.20 in 3 swings.
$NVDA 1H Elliott Wave Chart 4.01.2024:
Here is the latest 1H update from 4.01.2024 showing the bounce taking place as expected. The stock has reacted higher from the blue box area allowing longs to get risk free. The stock can be doing a double three correction (WXY) before resuming the rally where traders can enter again. A break above $967.69 will negate the double and confirm that the next leg higher has started.

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

Gold Miners Junior (GDXJ) Next Bullish Cycle Likely In Progress
April 1, 2024 By EWFHendra
GDXJ, or the VanEck Vectors Junior Gold Miners ETF, is an exchange-traded fund that tracks the performance of small-cap gold mining companies. It provides investors exposure to junior gold mining companies, which are typically smaller and more volatile than their larger counterparts. This ETF offers a convenient way for investors to gain diversified exposure to the junior gold mining sector without having to select individual stocks. Below we update the Elliott Wave outlook for the ETF.
GDXJ Monthly Elliott Wave View
Monthly chart of GDXJ above shows the ETF looks to have broken higher from multi year consolidation. Decline to 16.14 ended wave ((II)). Up from there, the ETF starts a new nesting impulse. Wave (I) ended at 52.5 and wave (II) pullback ended at 19.52. The ETF then nested higher with wave i of (III) ended at 65.95 and wave II ended at 25.80. While above 16.14, expect the ETF to continue higher.
GDXJ Daily Elliott Wave View


Daily Elliott Wave Chart of GDXJ above shows the ETF ended wave II at 25.8. The ETF turns higher in wave III with internal subdivision as a 5 waves impulse. Up from wave II, wave ((1)) ended at 41.16 and pullback in wave ((2)) ended at 30.56 as an expanded flat. Up from there, wave (1) ended at 39.82 and dips in wave (2) ended at 30.89. As far as pivot at 25.8 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 wave 1 of (3) remains in progress. Up from wave (2), wave ((i)) ended at 32.77 and wave ((ii)) pullback ended at 31. The ETF resumed higher in wave ((iii)) towards 37.16 and wave ((iv)) ended at 35.24. Expect the ETF to continue higher to end wave ((v)) of 1. Afterwards, it should pullback in wave 2 to correct cycle from 2.14.2024 low before it resumes higher again.
GDXJ Elliott Wave Video

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Source:https://elliottwave-forecast.com/vid...kely-progress/