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USDJPY Elliott Wave : Buying The Dips At The Blue Box Area
Hello fellow traders.

In this technical article, we’re going to take a look into the Elliott Wave charts of USDJPY, exclusively presented in the members’ area of our website. As our members know USDJPY has recently made pull back that made clear 3 waves down from the April 29th peak . The pair 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.
USDJPY Elliott Wave 4 Hour Chart 05.01.2024
The pair is correcting cycle from the 146.352 low. The pull back is showing lower low sequences from April 29th peak. Current view suggests that the correction is still incomplete at the moment. Our analysis forecasts further downside in USDJPY toward the 152.295-148.75 area ( blue box).
Despite the expected extension lower, we advise against selling USDJPY. Once the pair reaches this blue box area, we expect it to attract buyers. We can see 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 -((b)) black, 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 :148.75
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.

USDJPY Elliott Wave 4 Hour Chart 05.20.2024

The pair found buyers within the Blue Box area as expected. We got a nice rally from our buying zone, counting wave 4 correction completed at the 151.89 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 151.89 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 3 red 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.

Elliott Wave Forecast

Thank you for exploring our Trading Forecast of USDJPY pair with us. While we provide insights on 78 instruments, it’s important to note that not every chart is a trading recommendation. For our official trading recommendations, join us in our Live Trading Room where we provide actionable insights in real-time. If you’re not yet a member, take advantage of our 14-Day Trial now to access new trading opportunities.
Over time, we’ve honed a reputable trading strategy that accurately defines entry, stop loss, and take profit levels. By joining us, you’ll have the opportunity to learn from market experts and improve your trading skills.
Join us today !
Elevate your trading with Elliott Wave Forecast!
Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.
Gain exclusive access to our Official Trading Recommendations in the Live Trading Room, where seasoned experts provide valuable insights and guidance on new trading opportunities.
For just $9.99, unlock a wealth of knowledge and experience with our 14-day Trial. Experience firsthand our proven trading strategy, which accurately defines Entry, Stop Loss, and Take Profit levels, empowering you to make informed decisions with confidence.
Ready to take the next step? Sign up now and seize the opportunity to enhance your trading performance. Click here to start your Trial today!
Source:https://elliottwave-forecast.com/tra...dips-blue-box/

XLP Resuming Higher From Another Blue Box Area
May 21, 2024 By Hassan Sheikh
In this technical blog, we are going to take a look at the past performance of 1 hour Elliott Wave Charts of XLP a consumer staple ETF, which we presented to members at elliottwave-forecast.com. In which, the rally from 16 April 2024 lows, showed the higher high sequence in higher time frame charts favored more strength. Also, the right side tag pointed higher against $74.71 low seen on 5/01/2024 low called for more upside. We will explain the structure & forecast below:
XLP 1-Hour Elliott Wave Chart From 5.14.2024

XLP 1 hour Elliott Wave Chart from 5/14/2024 Midday update, in which the ETF ended the 5 waves rally within wave 3 at $78 high. Down from there, the pullback in wave 4 took place in 3 swings as zigzag structure, which managed to reach $77.06-$76.60 100%-161.8% Fibonacci extension area of ((a))-((b)). Thus provided buying opportunity to our members at the blue box area looking for the next extension higher or for 3 wave reaction higher at least.

XLP 1-Hour Elliott Wave Chart From 5.19.2024

Here’s 1 Hour Elliott Wave Chart from 5/19/2024 Weekend update, in which the ETF is showing reaction higher taking place from the blue box area. And shortly after taking the trade the ETF bounced strongly & managed to make a new high above the previous high confirmed the next extension higher. Also, with this rally higher the ETF allowed our members to take profits from the bounce higher.

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Source:https://elliottwave-forecast.com/sto...ther-blue-box/

Elliott Wave Analysis on Oil (CL) Looks for Short Term Weakness

Short Term Elliott Wave in Light Crude Oil (CL) suggests the decline from 4.12.2024 high is in progress as a 5 waves impulse. Down from 4.12.2024 high, wave 1 ended at 81.56 and wave 2 rally ended at 86.28. Wave 3 lower ended at 76.89. The 1 hour chart below shows the starting point from wave 3. Wave 4 bounce unfolded as an expanded Flat structure. Up from wave 3, wave ((a)) ended at 79.96 and wave ((b)) ended at 76.70. Wave ((c)) higher ended at 80.6 which completed wave 4 in higher degree.

Oil has turned lower in wave 5. Down from wave 4, wave (i) ended at 79.17 and wave (ii) ended at 79.85. Down from there, wave i ended at 78.08 and wave ii ended at 79.5. Expect wave iii to end soon, then it should see 2 more lows to end wave (v) of ((i)). Afterwards, it should rally in wave ((ii)) to correct cycle from 5.20.2024 high in 3, 7, or 11 swing before it resumes lower again. Near term, as far as pivot at 80.6 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.

Oil (CL) 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

CL Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...term-weakness/
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ZN Elliott Wave Analysis – trading US 10-Yr from extreme
May 21, 2024 By EWFSanmi
Hello traders. In this blog post, we will examine the US 10-Yr US Treasury Note – ZN Elliott Wave Analysis. We will identify how it bounced from an extreme area, presenting a bullish opportunity for traders. Additionally, for educational purposes, we will explore the near future path.
The 10-Year Treasury Note futures, often referred to as “10-Year T-Note futures,” with ticker ZN_F, are financial contracts that derive their value from the anticipated price of U.S. 10-Year Treasury Notes. These futures are among the most actively traded fixed-income products and play a crucial role in the global financial market.
In the medium term, we anticipate that $ZN_F could develop into a double zigzag structure from the low of October 2023 in the cycle degree. From that low, wave W of the double zigzag began and ended in the high of December 2023, where wave X started. Wave X concluded on April 25, 2024, followed by the start of wave Y. By projection, wave Y should potentially break above the December 2023 high where wave W ended. With this in mind, we started updating 1-hour charts for elliottwave-forecast.com members from the low of April 25, 2024. In the near term, a bullish sequence emerged from the April 2024 low. We identified this sequence as an impulse wave completing wave (1) of ((A)) of Y.
ZN Elliott Wave Analysis – 13th May 2024 Update

The chart above shows the analysis we shared with members on May 13, 2024. On the chart, we identified the end of wave 3 at the peak of May 3. Meanwhile, our attention was on the wave 4 correction, expected to find support near the 108’182 to 108’040 extreme. We anticipated wave 4 to find support at this extreme, followed by a wave 5 rally. Therefore, we alerted members to watch for price resurgence from this extreme.

ZN Elliott Wave Analysis – 15th May 2024 Update

Price did just as expected, dropping slightly below the equal leg of approximately 108’18 before surging rapidly. Afterward, we shared the updated chart on May 15, 2024, highlighting wave 5. Wave 5 emerged as an impulse. We expected price to complete the impulse before a deeper correction followed. This was precisely what happened, as the chart below shows.

ZN Elliott Wave Analysis – 20th May 2024 Update

Price completed wave 5 of (1) and started correcting in wave (2). Currently, as the May 20 New York update shows, the wave (2) correction is underway. The next LONG opportunity will be for wave (3) after wave (2) concludes. Therefore, we will monitor this through either a 3, 7, or 11 swing correction for wave (2). Members can rely on our regular timed updates for the Elliott Wave path across all time frames for 78 instruments.

Meanwhile, members receive hourly updates four times a day and can use our forecasts as guides for their trading strategies. On each chart, we indicate the trading direction to consider. In the live trading room, members have access to trade signals and trade management guides. Additionally, members can chat with our analysts 24 hours a day from Monday to Friday.
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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 chat room where our moderators will help you with any questions you have about what is happening in the market.
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Source:https://elliottwave-forecast.com/bon...ing-us-t-note/

There is no Reason to Sell iShares Silver Trust (SLV)
May 21, 2024 By EWFLuis
The iShares Silver Trust (SLV) is an exchange-traded fund (ETF) that tracks the price performance of the underlying holdings in the London Bullion Market Association (LBMA) Silver Price as of August 2014. If you’re interested in investing in silver, SLV provides exposure to the silver market without the need to physically hold the metal.
SLV 360 Min Chart May 7th

At the beginning of 2024, SLV resumed the bullish trend after a year of sideways movement. We think that the low of 01/22/2024 at 20.07 started the new cycle higher and we called as wave ((2)). From this point, we are looking to develop an impulse as ((3)). In the chart above from May 7th, we can see clearly an impulse wave (1) of ((3)) ended at 27.24. Then, market entered in a pullback as wave (2) building a zig zag correction. The ABC structure ended at 23.78 low in May and rallied again. (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory).

SLV 240 Min Chart May 20th

Two weeks later, SLV has made a strong rally breaking above wave (1) high; therefore, we are already trading in wave (3) of ((3)). Up from 23.78 low, wave 1 ended at 26.28 and pullback as wave 2 completed at 24.70 low. Then, market remained bullish starting wave 3 of (3). Currently, we are calling for one more high to end wave ((v)) of 3. If there is not more extensions in wave 3, it should finish in 29.94 – 30.45 area before starting a correction in wave 4. Once wave 4 is ended in 3, 7 or 11 swings correction, we should looking for buying opportunities.

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...eason-selling/

Elliott Wave Analysis on Tesla (TSLA) Suggests A Double Correction

Short Term Elliott Wave in Tesla (TSLA) suggests the rally from 4.22.2024 low is in progress as an impulse. Up from 4.22.2024 low, wave (1) ended at 198.90 as the 45 minutes chart below shows. Wave (2) pullback is currently in progress. The internal subdivision of wave (2) takes the form of a double three Elliott Wave structure. Down from wave (2), wave (i) ended at 188.35 and wave (ii) ended at 194.54. The stock extended lower in wave (iii) towards 178.03 and wave (iv) ended at 185.26. Final leg wave (v) ended at 176.02 which completed wave ((a)). Rally in wave ((b)) ended at 187.56 as a double three.

Wave ((c)) lower is in progress as 5 waves and ended at 167.50. This completed wave W in higher degree. Wave X rally takes the form of a double three Elliott Wave structure. Up from wave W, wave ((w)) ended at 181.8 and pullback in wave ((x)) ended at 171.43. Wave ((y)) higher ended at 187.42 which completed wave X. The stock has turned lower in wave Y. Down from wave X, wave (i) ended at 178.1 and wave (ii) ended at 182.8. Near term, as far as pivot at 198.9 high stays intact, expect the stock to extend lower.

Tesla (TSLA) 45 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

TSLA Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...le-correction/
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SMH Semiconductor ETF Reacted from a Blue Box Breaking to New Highs
May 27, 2024 By EWFLuis
The VanEck Semiconductor ETF (SMH) is an exchange-traded fund that tracks a market-cap weighted index composed of 25 of the largest U.S.-listed semiconductor companies. The top holdings of SMH include companies like NVIDIA, Taiwan Semiconductor Manufacturing, Broadcom Inc., Texas Instruments, QUALCOMM, ASML Holding N.V., Applied Materials, Inc., Lam Research Corporation, Micron Technology, Inc., and Advanced Micro Devices, Inc.
SMH 4 Hour Chart April 19th


In March 2024, the ETF made a peak at 239.14 high and we called as wave (III). Then, the market started a pullback and we called a double correction structure. Down from the peak, we can see 3 swings that ended wave w at 212.82 low. Another 3 swings bounced to finish wave x at 230.95 high. From here, we were looking for 3 swings more to the downside to reach 204.63 – 188.26 area. In the blue box, we were expecting that buyers appear to call wave y and wave (IV) ended and resume the rally in wave (V).
SMH 4 Hour Chart May 23th


After a month, We can see SMH reached the blue box ended wave (IV) at 198.41 low and rally as expected. The ETF is developing an impulse as wave I of (V) and we see the structure incomplete at the moment. The uptrend ended wave ((1)) of I at 219.62 high. Then we had a fast correction as wave ((2)) ending at 206.11 low. The market remained up with a strong momentum in wave ((3)). Wave (1) of ((3)) ended at 223.18 high. Wave (2) correction at 218.11 low. The rally continued ending wave (3) at 236.04 high and wave (4) pullback at 231.87 low.
After NVDA earnings results, SMH broke higher above wave (III) peak confirming more upside extension. Currently, wave (5) of ((3)) could be near to end. When we see a strong correction as wave ((2)), wave ((3)) should be ended and we would expect 3, 7 or 11 swings correction to complete wave ((4)) before resuming to the upside in wave ((5)) of 1. The strategy is looking for buying opportunities after wave ((4)) is completed to trade wave ((5)) higher.
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...ing-new-highs/

DAX Elliott Wave: Buying the Dips at the Blue Box Area
May 27, 2024 By EWF Vlada
Hello fellow traders. In this article we’re going to take a quick look at the Elliott Wave charts of DAX published in members area of the website. DAX is showing impulsive bullish sequences in the cycle from the October 2023 low. Recently we got a 3 waves pull back that has ended right at the Blue Box zone (buying area). In the further text we are going to explain the Elliott Wave Forecast and trading setup.
DAX Elliott Wave 1 Hour Chart 05.23.2024
DAX remains bullish against the 17624.8 pivot. The Index is currently giving us pull back in 3 waves , wave ((iv)) black. The price made 5 waves from the peak, suggesting DAX ended only first leg (a) of ((iv)) that is unfolding as Elliott Wave Zig Zag pattern. We expect DAX to make another leg down toward extreme area at 18525.23-15352.42 blue box ( buying zone). From there, DAX index should ideally make a rally toward new highs or 3 waves bounce alternatively .As our members know Blue boxes are based on 100% – 161.8% Fibonacci extension area , that we trade in 3, 7, or 11 swing corrective sequence.
Once the price touches the 50 fibs against the (b) blue connector, we’ll make positions risk-free and set the stop loss at breakeven and book partial profits. Breaking below the 1.618 Fibonacci extension level at 15352.42 would invalidate the trade.
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.

DAX Elliott Wave 1 Hour Chart 05.25.2024

DAX the drop toward our Blue Box area and found buyers as expected. We got nice reaction from our buying zone. The index has reached and exceeded 50 fibs against the (b) blue high. So members who took the long trade are enjoying profits now in a risk free positions. We would like to see break of (iii) black high, 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 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

Thank you for exploring our Trading Setup of DAX with us. While we provide insights on 78 instruments, it’s important to note that not every chart is a trading recommendation. For our official trading recommendations, join us in our Live Trading Room where we provide actionable insights in real-time. If you’re not yet a member, take advantage of our 14-Day Trial now to access new trading opportunities.
Over time, we’ve honed a reputable trading strategy that accurately defines entry, stop loss, and take profit levels. By joining us, you’ll have the opportunity to learn from market experts and improve your trading skills.
Join us today !
Elevate your trading with Elliott Wave Forecast!
Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.
Gain exclusive access to our Official Trading Recommendations in the Live Trading Room, where seasoned experts provide valuable insights and guidance on new trading opportunities.
For just $9.99, unlock a wealth of knowledge and experience with our 14-day Trial. Experience firsthand our proven trading strategy, which accurately defines Entry, Stop Loss, and Take Profit levels, empowering you to make informed decisions with confidence.
Ready to take the next step? Sign up now and seize the opportunity to enhance your trading performance. Click here to start your Trial today!
Source:https://elliottwave-forecast.com/tra...dips-blue-box/

Elliott Wave Analysis Expects Nasdaq Futures (NQ) Continue Higher
Short Term Elliott Wave in Nasdaq Futures (NQ) suggests the rally from 4.19.2024 low is in progress as an impulse. Up from 4.19.2024 low, wave ((i)) ended at 17949 and dips in wave ((ii)) ended at 17386. The NQ extended higher in wave ((iii)) with internal subdivision as another impulse in lesser degree. Up from wave ((ii)), wave (i) ended at 18348 and dips in wave (ii) ended at 18165. Wave (iii) ended at 18760, wave (iv) ended at 18545, and wave (v) ended at 19023 which completed wave ((iii)).

Wave ((iv)) pullback did a zig zag Elliott Wave structure. Down from wave ((iii)), wave (a) ended at 18802 and pullback in wave (b) ended at 18933. Final leg wave (c) completed wave ((iv)) at 18621 low. The future rallied again in wave ((v)) ending an impulse as wave (i) of ((v)) at 18956 high. Near term, as far as pivot at 18621 low stays intact, expect a correction in 3 or 7 swings in wave (ii) before resuming to the upside in wave (iii) of ((v)). It expects short term upside in ((v)) towards 19117 – 19270 area as minimum extension, while dips remain above 18623.85 low. Alternatively, it can do double, if break below 18623.85 low as ((iv)) before turning higher.

Nasdaq Futures (NQ) 60 Minutes Elliott Wave Chart



Nasdaq Futures (NQ) Elliott Wave Video


Source: https://elliottwave-forecast.com/new...ntinue-higher/
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Is DFS (Discover Financial) Ready For Next Move Higher?
May 28, 2024 By EWFRaj
Discover Financial Services (DFS) provides digital banking products & services, & payment services in United States. It operates through two segments – Digital banking & Payment services. It is based in Riverwoods, Illinois, comes under Financial services sector & trades as “DFS” ticker at NYSE.
DFS favors upside in wave (III), while dips remain above $79.04 low & confirms when break above $135.69 high of (I). Short term, it favors upside in (5) to complete the impulse sequence to be ((1)) of I.
DFS – Elliott Wave Latest Weekly View:

It ended ((II)) at $23.25 low in March-2020 low in weekly sequence. Above there, it placed (I) at $135.69 high in August-2021 as the part of ((III)). Within (I), it placed I at $43.82 high, II at $27.51 low, extended III placed at $127.65 high, IV at $114.37 low & finally V as (I) ended at $135.69 high. It ended (II) as zigzag correction at $79.04 low in October-2023. Within (II), it placed a red at $87.64 low as diagonal sequence & b at $122.50 high as flat. Below that, it ended c red as (II) at $79.04 low as 0.5 Fibonacci retracement of (I), which missed the extreme areas ($74.42).
Above (II) low, it favors upside in ((1)) of I of (III) & need to break above (I) high to confirm the bullish sequence for further upside. It placed (1) of ((1)) at $113.42 high, (2) at $96.45 low, (3) at $131.65 high & (4) at $119.31 low. It appears in (5) of ((1)), which confirms when it breaks above $131.65 high & may break above (I) high before any larger correction will starts in ((2)). Alternatively, it may pullback in (4) as double correction, if breaks below $119.31 low before turn higher in (5) of ((1)). We like to buy the next pullback in 3, 7 or 11 swings, once it breaks above (I) high. While below that level, it still can be remains sideways.
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...t-move-higher/

EUROSTOXX (SX5E) Forecasting the Rally After Elliott Wave Double Three
May 28, 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 EUROSTOXX recently made a clear three-wave correction against the 4888.28 low . The pull back completed right within the Equal Legs zone. In this discussion, we’ll break down the Elliott Wave pattern and forecast.
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.

EUROSTOXX Elliott Wave 1 Hour Chart 05.23.2024

EUROSTOXX is showing impulsive bullish sequences in the cycle from the 4883.39 low, suggesting further strength ahead. Presently, the index is undergoing an intraday pullback (iv) in blue. The structure of this pullback remains incomplete, indicating short-term weakness towards the 5016.22-4977.25 (buyers area). The first leg, shows a clear 3-wave structure a,b,c red, followed by a 3-wave bounce. We anticipate the pullback to form a Double Three pattern, projecting 3 waves in y leg as well. We advise against selling $SX5E and instead favor the long side from the marked equal legs area. Once $SX5E reaches buying area, it should ideally either rally towards new highs or undergo a bounce in three waves alternatively.
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.

EUROSTOXX Elliott Wave 1 Hour Chart 05.23.2024

EUROSTOXX hit our target zone at the 5016.22-4977.25 area and found buyers as expected. The index has reacted strongly from the Equal Legs Area. As far as the price stays above 4992.3 low, we can count (iv) completed there. We would like to see break of (iii) blue peak to confirm next leg up is in progress, targeting 5128-5171 area.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room
New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.

Elliott Wave Forecast

Thank you for exploring our analysis of STOXX with us. While we provide insights on 78 instruments, it’s important to note that not every chart is a trading recommendation. For our official trading recommendations, join us in our Live Trading Room where we provide actionable insights in real-time. If you’re not yet a member, take advantage of our 14-Day Trial now to access new trading opportunities.
Over time, we’ve honed a reputable trading strategy that accurately defines entry, stop loss, and take profit levels. By joining us, you’ll have the opportunity to learn from market experts and improve your trading skills.
Join us today !
Elevate your trading with Elliott Wave Forecast!
Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.
Gain exclusive access to our Official Trading Recommendations in the Live Trading Room, where seasoned experts provide valuable insights and guidance on new trading opportunities.
For just $9.99, unlock a wealth of knowledge and experience with our 14-day Trial. Experience firsthand our proven trading strategy, which accurately defines Entry, Stop Loss, and Take Profit levels, empowering you to make informed decisions with confidence.
Ready to take the next step? Sign up now and seize the opportunity to enhance your trading performance. Click here to start your Trial today!
Source:https://elliottwave-forecast.com/ell...-double-three/

Free Webinar: Future Path of World Indices. A Crash Coming?

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Elliott Wave Analysis Expects GBPUSD to Pullback in Wave 2

Short Term Elliott Wave in GBPUSD suggests rally from 4.22.2024 low unfolded as a 5 waves impulse Elliott Wave structure. Up from 4.22.2024 low, wave ((i)) ended at 1.2635 and pullback in wave ((ii)) ended at 1.2445. The pair extends higher again in wave ((iii)) with internal subdivision as an impulse in lesser degree. The 1-hour chart below shows the subdivision of wave ((iii)).
Up from wave ((ii)), wave (i) ended at 1.2541 and dips in wave (ii) ended at 1.2502. GBPUSD then extended higher in wave (iii) towards 1.2726 and pullback in wave (iv) ended at 1.2685. Final leg wave (v) ended at 1.2761 which completed wave ((iii)). The pair then pullback in wave ((iv)) towards 1.2675 and extended higher in wave ((v)) to end at 1.2801 high completing wave 1 in higher degree. Near term, as far as pivot at 1.2801 high stays intact, expect dips to find support in 3, 7, 11 swing to end wave 2 correction before further upside.

GBPUSD 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

GBPUSD Elliott Wave Video


Source: https://elliottwave-forecast.com/for...ack-in-wave-2/
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Wheat Elliott Wave Analysis shows Bullish Sequence
May 29, 2024 By EWFSanmi
Hello traders. Let’s dive into the Wheat Elliott wave analysis, focusing on the bullish sequence that began in March 2024. We’ll revisit our traders’ last opportunity and explore the next one. Wheat (ZW_F) is one of the 78 instruments we analyze and share with members of www.elliottwave-forecast.com. This commodity belongs to group 2, alongside 25 others.
Wheat (ZW_F) completed the wave (II) supercycle pullback in March 2024. Since then, buyers have taken over, riding wave (III), which has just begun. Currently, we are in wave (3) of ((1)) of I of (III). Clearly, wave (III) has just started, implying a potential long-term bullish cycle for many years. While maintaining the long-term bullish trend, we focus on the current trend’s degree – wave (3) of the intermediate degree. Wheat is now in wave 5 of (3). Wave 4 ended on 17th May 2024 at 650’2. Before the subsequent surge, we shared the chart below with members.
Wheat Elliott Wave Analysis – 05.17.2024

On 17th May 2024, we shared the chart above with members, identifying the pullback from 15th May completing a double zigzag structure. We also pinpointed the 646’7-625’3 zone as the extreme area where buyers should reenter. Thus, a LONG position from this zone with a stop loss below it should offer a good opportunity to join the dominant buyers. Our strategy involves identifying a clear price sequence – bullish or bearish – and then trading in that trend’s direction at a favorable price level. This is what we enjoy doing and sharing with members.

Wheat Elliott Wave Analysis – 05.28.2024

Fast forward to later in May 2024, Wheat progressed exactly from the zone, making a low of 650’5. The chart shared with members on 28th May 2024 shows how price action evolved since 17th May 2024. Despite the expected rally, we adjusted the count to fit the current price action. The dip is now wave 4 instead of wave ((iv)). However, the direction and idea remain the same.

What’s Next?
Wave 5 is currently in wave ((iii)). We aim to see wave 5 complete and buy the next pullbacks. As price action progresses, we will continue adjusting the count to fit. While doing so, we will wait for the best time to buy again, avoiding selling in an uptrend. This journey and that of the other 78 instruments we cover will be promptly shared with members. Members receive hourly updates four times a day and can use our forecasts as guides for their trading strategies. On each chart, we indicate the trading direction to consider. In the live trading room, members have access to trade signals and trade management guides. In addition, members can chat with our analysts 24 hours from Monday to Friday.
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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 chat room where our moderators will help you with any questions you have about what is happening in the market.
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Source:https://elliottwave-forecast.com/com...lish-sequence/

Riding the Wave: ($XLU)’s Impressive Rally and What’s Coming Next
May 28, 2024 By EWFTaha
Hello everyone! In today’s article, we will follow up on the past performance of the SPDR Utilities Select Sector ETF ($XLU) forecast. We will also review the latest weekly count. First, let’s take a look at how we analyzed it back in October 2023.
$XLU Weekly Elliott Wave View – October 2023:

In our last article, we explained that $XLU had reached the Blue Box area at $55.81 – $44.73. A bounce was anticipated at this level. This area was a critical support zone identified by our Elliott Wave analysis.

$XLU Weekly Elliott Wave View – May 28, 2024:

The latest weekly update confirms that $XLU has bounced as expected from the Blue Box area. As a result, the ETF has moved higher, allowing long positions to become risk-free. We expect $XLU to continue its rally towards the $74.00 – $79.00 range in a 5-wave pattern. This rally is favored to happen before another pullback occurs. Traders should look for re-entry opportunities at black ((2)) in 3 or 7 swings. Moreover, a break above the all-time highs (ATHs) will start a bullish sequence towards the $89 – $111 range.


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

Elliott Wave Analysis Expects a Flat Correction as Wave 2 in EURUSD
Short Term Elliott Wave in EURUSD suggests rally from 4.16.2024 low unfolded as a 5 waves impulse Elliott Wave structure. Up from 4.16.2024 low, wave ((i)) ended at 1.0753 and pullback in wave ((ii)) ended at 1.0649. The pair extends higher again in wave ((iii)) ended at 1.0812 and correction in wave ((iv)) towards 1.0723 low. Then the pair extend higher in wave ((v)) with internal subdivision as an impulse in lesser degree. The 1-hour chart below shows the subdivision of wave ((v)).
Up from wave ((iv)), wave (i) ended at 1.0790 and dips in wave (ii) ended at 1.0760. EURUSD then extended higher in wave (iii) towards 1.0870 and pullback in wave (iv) ended at 1.0831. Final leg wave (v) ended at 1.0895 which completed wave ((v)) and wave 1. The pair then started a correction in wave 2 and we are calling as a flat structure. First leg lower ended wave ((a)) at 1.0804 low and bounced to retest the highs as wave ((b)) ended at 1.0889. Near term, as far as pivot at 1.0895 high stays intact, expect dips to find support to end wave 2 correction before further upside.

EURUSD 60 Minutes Elliott Wave Chart


EURUSD Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/for...is-correction/
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IBEX Elliott Wave: Buying the Dips at the Blue Box Area
May 30, 2024 By EWF Vlada
Hello fellow traders. In this article we’re going to take a quick look at the Elliott Wave charts of IBEX published in members area of the website. IBEX is showing impulsive bullish sequences in the cycle from the 10502.5 low. Recently we got a 3 waves pull back that has ended right at the Blue Box zone (buying area). In the further text we are going to explain the Elliott Wave Forecast and trading setup.
IBEX Elliott Wave 1 Hour Chart 05.29.2024
IBEX remains bullish against the 10820.15 pivot. The index is currently giving us a wave ((iv)) black pullback, appearing to unfold as a Double Three pattern. We can count 7 swings from the peak , reaching extreme area at 11134.8-10997.55 blue box ( buying zone). From that zone, IBEX should ideally make a rally toward new highs or 3 waves bounce alternatively. As our members know Blue boxes are based on 100% – 161.8% Fibonacci extension area , that we trade in 3, 7, or 11 swing corrective sequence.
Once the price touches the 50 fibs against the (x) blue connector, we’ll make positions risk-free and set the stop loss at breakeven and book partial profits. Breaking below the 1.618 Fibonacci extension level at 10997.55 would invalidate the trade.
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.

IBEX Elliott Wave 1 Hour Chart 05.25.2024

IBEX found buyers at the Blue Box area as expected, resulting in a strong reaction from our buying zone. The index has now reached and exceeded the 50 fibs against the (x) blue high. Members who took the long trade are now enjoying profits in risk-free positions. We are looking for a break of the ((iii)) black high to confirm that the 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 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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Thank you for exploring our Trading Setup of IBEX with us. While we provide insights on 78 instruments, it’s important to note that not every chart is a trading recommendation. For our official trading recommendations, join us in our Live Trading Room where we provide actionable insights in real-time. If you’re not yet a member, take advantage of our 14-Day Trial now to access new trading opportunities.
Over time, we’ve honed a reputable trading strategy that accurately defines entry, stop loss, and take profit levels. By joining us, you’ll have the opportunity to learn from market experts and improve your trading skills.
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Source:https://elliottwave-forecast.com/tra...ying-blue-box/

Elliott Wave Analysis on AMD Suggest a Double Correction
Short Term Elliott Wave in AMD suggests the rally from 5.01.2024 low is in progress as an impulse. Up from 5.01.2024 low, wave (1) ended at 174.56 as the 30 minutes chart below showing. Wave (2) pullback is currently in progress. The internal subdivision of wave (2) takes the form of a double three Elliott Wave structure. Down from wave (2), wave ((a)) ended at 168.75 low and wave ((b)) bounce ended at 171.51. The stock extended lower in wave ((c)) towards 162.91 which completed wave W.
The market rallied starting wave X also taking the form of a double three Elliott Wave structure. Up from wave W, wave ((w)) ended at 168.75 and pullback in wave ((x)) ended at 164.00. Wave ((y)) higher is in progress. We are looking for a bounce in 3 swings to 169.88 – 173.51 area to end wave ((y)) and also wave X connector. Near term, as far as pivot at 174.56 high stays intact, expect the stock to extend lower.

AMD 30 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

AMD Elliott Wave Video


Source: https://elliottwave-forecast.com/sto...le-correction/
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Gold Miners Junior ETF (GDXJ) Pullback Should Find Buyers

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 Gold Miners Junior ETF (GDXJ) above shows the ETF broke higher from multi year consolidation. Wave ((II)) grand super cycle ended at 16.14 and the ETF starts a new leg up from there. Up from 16.14 low, wave (I) ended at 52.5 and dips in wave (II) ended at 19.52. The ETF then extended higher as a nest. Wave I of (III) rally ended at 65.95 and wave II pullback ended at 25.80. While dips stay above 16.14, expect the ETF to extend higher.

GDXJ Daily Elliott Wave View



Daily Elliott Wave Chart of GDXJ above shows wave II pullback ended at 25.8. The ETF then rallies higher in wave III. The internal subdivision of the rally unfolds as a 5 waves impulse. Up from wave II, wave ((1)) ended at 41.16 and pullback in wave ((2)) ended at 30.56 with internal structure as an expanded flat. Up from there, wave (1) ended at 47.25 and dips in wave (2) is in progress to correct cycle from 10.4.2023 low in 3, 7, or 11 swing before the rally resumes.

GDXJ 4 Hour Elliott Wave View



4 Hour Elliott Wave view of GDXJ above shows that rally from wave ((2)) low at 30.67 unfolded as an impulse. Up from wave ((2)), wave 1 ended at 39.82 and wave 2 pullback ended at 30.89. The ETF resumed higher in wave 3 towards 44.7 and wave 4 pullback ended at 39.55. The ETF then extended higher in wave 5 of (1) towards 47.54. Pullback in wave (2) is in progress to correct cycle from 10.5.2023 in 3, 7, or 11 swing before the rally resumes.
We do not cover GDXJ as part of our regular service. However, we cover GDX, Gold, and other commodities, stocks, forex, and crypto currencies. If you’d like to check our service, you can take our 14 days trial here –> 14 days Trial

Source: https://elliottwave-forecast.com/sto...k-find-buyers/

S&P 500 E-Mini (ES_F) Forecasting the Bounce From the Extreme Zone

Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of S&P 500 E-Mini (ES_F) Futures published in members area of the website. Our members know ES_F completed cycle from the 4964 low as a 5 waves pattern. Currently the futures is giving us correction against the mentioned low. In this discussion, we’ll break down the Elliott Wave pattern and forecast.
ES_F Elliott Wave 1 Hour Chart 05.31.2024
ES_F reached extreme zone from the 5369.47 peak at 5244.9-5186.7 area. The futures shows clear 5 waves from the high, suggesting pull back is unfolding as Elliott Wave Zig Zag pattern. ES_F is about to complete first leg ((a)) black of 2 red. We expect rally in wave ((b)) to happen any moment. We recommend members to avoid selling the futures and keep favoring the long side.
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.



ES_F Elliott Wave 1 Hour Chart 06.02.2024
ES_F found buyers at the extreme zone as expected. The index has reacted strongly from the Equal Legs Area. Rally from the low looks impulsive, which suggests we are about to complete first leg of wave ((b)) recovery, which is also unfolding as Elliott Wave Zig Zag pattern. As far as the pivot at 5368.81 pivot holds, another leg down can be see once ((b)) black completes.
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
Thank you for exploring our analysis of ES_F with us. While we provide insights on 78 instruments, it’s important to note that not every chart is a trading recommendation. For our official trading recommendations, join us in our Live Trading Room where we provide actionable insights in real-time. If you’re not yet a member, take advantage of our 14-Day Trial now to access new trading opportunities.
Over time, we’ve honed a reputable trading strategy that accurately defines entry, stop loss, and take profit levels. By joining us, you’ll have the opportunity to learn from market experts and improve your trading skills.
Join us today !
Elevate your trading with Elliott Wave Forecast!
Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.
Gain exclusive access to our Official Trading Recommendations in the Live Trading Room, where seasoned experts provide valuable insights and guidance on new trading opportunities.
For just $9.99, unlock a wealth of knowledge and experience with our 14-day Trial. Experience firsthand our proven trading strategy, which accurately defines Entry, Stop Loss, and Take Profit levels, empowering you to make informed decisions with confidence.
Ready to take the next step? Sign up now and seize the opportunity to enhance your trading performance. Click here to start your Trial today!

Source: https://elliottwave-forecast.com/sto...ott-wave-es_f/