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

Pan American Silver (PAAS) Pullback in Progress
June 11, 2024 By EWFHendra
Pan American Silver is a Canadian mining company that owns and operates mines in Mexico, Peru, Bolivia, and Argentina. As one of the world’s premier silver producers, they focus on silver and gold mining throughout the Americas. Their vision emphasizes excellence in discovery, engineering, innovation, and sustainable development. Below we update the Elliott Wave outlook of the company.
PAAS Monthly Elliott Wave Chart
Monthly Elliott Wave chart of Pan American Silver (PAAS) above shows the stock ended wave ((II)) pullback at 5.32 on January 2016 low. The stock then started to rally in wave ((III)) as an impulse. Up from wave ((II)), wave (I) ended at 40.11. Pullback in wave (II) has also completed at 12.18. The stock has since rallied higher again as an impulse. While pullback stays above 5.32, expect the stock to extend higher.
PAAS Daily Elliott Wave Chart

Daily Elliott Wave Chart of Pan American Silver (PAAS) above shows the rally from wave (II) low at 12.18 unfolded as an impulsive structure. Up from wave (II), wave ((1))) ended at 13.28 and wave ((2)) pullback ended at 12.19. The stock then extended higher with separation wave ((3)) which ended at 20.6. Pullback in wave ((4)) has ended at 18.01 and the stock resumed higher in wave ((5)) towards 22.75 which completed wave I in higher degree. Pullback in wave II is currently in progress to correct cycle from 2.13.2024 low in 3, 7, or 11 swing before it resumes higher. Near term, as far as pivot at 12.18 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

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Source:https://elliottwave-forecast.com/com...ck-progress-2/

CROX (Crocs Inc) Should Continue Further Upside
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.

As showing in the previous article, CROX favors upside in (3) of ((1)) & remain supported within the sequence started from November-2023 low. It favors upside in 5 of (3), while dips remain above 143.28 low.
CROX – Elliott Wave Latest Daily 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 June-2022. Above there, it ended I of (III) 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.
CROX – Elliott Wave Latest Weekly View:

Above II low, it placed (2) of ((1)) at $85.71 low & favors upside in (3) of ((1)). It already broke above I high, favoring upside to extend towards $179.29 or higher level. Yet, it needs to break above (I) high to confirm the weekly bullish sequence. Within (3), it placed 1 at $106.83 high, 2 at $94.50 low, 3 at $146.79 low & 4 at $118.60 low. Above there, it favors upside in 5 of (3) & expect further upside, while dips remain above $143.28 low of ((ii)). Alternatively, below $143.28 low, it should be within (4) correction, while placed (3) at $158.11 high. In either the case, we like to buy the pullback in 3, 7 or 11 swings towards short term extreme areas for the next move higher.
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Elliott Wave Intraday Analysis: S&P 500 (SPX) Sequence Remains Bullish


Short Term Elliott Wave in S&P 500 (SPX) suggests the rally from 4.20.2024 low is in progress as an impulse. Up from 4.20.2024 low, wave 1 ended at 5341.88 and pullback in wave 2 ended at 5191.68. Internal subdivision of wave 2 unfolded as a double three Elliott Wave structure. Down from wave 1, wave ((w)) ended at 5256.93 and wave ((x)) ended at 5311.65. The Index then extended lower in wave ((y)) as a zigzag structure. Wave (a) ended at 5269.67, wave (b) ended at 5282.06 and wave (c) ended at 5191.74. This completed wave ((y)) of 2 in higher degree.

The Index has turned higher in wave 3. Up from wave 2, wave (i) ended at 5292.25 and dips in wave (ii) ended at 5234.32. The Index resumed higher in wave (iii) towards 5370.3 and pullback in wave (iv) ended at 5347.09. Wave (v) higher ended at 5375.08 which completed wave ((i)). Pullback in wave ((ii)) is proposed complete as a shallow zigzag Elliott Wave structure. Down from wave ((i)), wave (a) ended at 5341.88 and wave (b) ended at 5360.79. Wave (c) lower ended at 5340.51 which completed wave ((ii)). The Index has turned higher in wave ((iii)). Near term, as far as pivot at 5191.74 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

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

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SPX Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...mains-bullish/
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Elliott Wave Expects META to Extend Impulsive Rally

Short Term Elliott Wave in META suggests the stock rallies in impulsive structure from 4.25.2024 low. Up from there, wave (1) ended at 482.5 and pullback in wave (2) ended at 454.46. The stock has resumed higher in wave (3) with internal subdivision as an impulse Elliott Wave structure in lesser degree. Up from wave (2), wave ((i)) ended at 460.23 and pullback in wave ((ii)) ended at 458.3. The stock resumed higher in wave ((iii)) towards 496.65 and pullback in wave ((iv)) ended at 491.92. Final leg wave ((v)) ended at 502.82 which completed wave 1.

Pullback in wave 2 unfolded as a zigzag structure. Down from wave 1, wave ((a)) ended at 490.89 and wave ((b)) ended at 496. Wave ((c)) lower ended at 490.19 which completed wave 2 in higher degree. The stock has resumed higher in wave 3. Up from wave 2, wave (i) ended at 505.33 and wave (ii) ended at 498.67. Rally in wave (iii) ended at 509, and dips in wave (iv) ended at 507.3. Final wave (v) ended at 516.88 which completed wave ((i)) in higher degree. Wave ((ii)) pullback is in progress to correct cycle from 6.7.2024 low before it resumes higher. Near term, as far as pivot at 490.19 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

META 45 Minutes Elliott Wave Chart

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META Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...pulsive-rally/
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Ishares Russell ETF, IWM Elliott Wave Analysis shows bullish bias
June 13, 2024 By EWFSanmi
Hello traders. Welcome to another blog post where we discuss the application of the Elliott wave theory to trade different financial assets. In today’s post, we will discuss the IWM Elliott wave analysis.
The ETF reached an all-time high in November 2021 at 244.46, completing a bullish cycle. Afterward, it plummeted to 162.78 in June 2022 as part of the bearish corrective phase. We shared the chart below with members of ElliottWave-Forecast on the weekend of 9th June 2024.
IWM Elliott Wave Analysis – Weekly Chart. 06.09.2024

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The weekly chart above shows the expected corrective phase – wave II. Wave II completed the first leg – wave a in June 2022 and is now on a multi-month rebound for the second leg – wave b. Meanwhile, the price is precisely moving upwards in wave (3) of ((C)) of b. We continued to share weekend charts with members, indicating that the preferred path was upward and we didn’t recommend selling. Thus, buying the pullback was ideal to align with the overriding trend.
IWM Elliott Wave Analysis – H4 Chart. 06.10.2024

On 10th June 2024, we shared the chart above with members. We identified the end of wave 1 of (3) discussed above in the weekly chart. The corresponding pullback for wave 2 was completing a double zigzag Elliott Wave structure. Besides the structure, we also identified the reversal zone at 199.02-193.10. We expected wave 3 to begin from this zone, offering ample opportunity for buyers.

IWM Elliott Wave Analysis – H4 Chart. 06.12.2024

On 10th June 2024, the price hit a little below 199.02 and surged as expected. We shared the H4 chart above with members on 12th June to show wave 3 of (3) had begun. At the first surge, traders hit their first target, closed half of their positions, and adjusted the remaining half to almost break even. Thus, it’s a risk-free trade with the potential for even more profit.

What Next?
Currently, IWM is in wave 3. Wave 3 should break above wave 1 with an impulse, targeting 223.85-228.19. However, we don’t expect the wave 3 rally to proceed in a straight line. There will be pullbacks along the way. The good thing is that these pullbacks can be trading opportunities on the hourly time frames. We update the H1 chart of the IWM three times a day, the H4 chart at the end of the day, and the Daily and Weekly charts on the weekend. We do this consistently for IWM and 77 other instruments.
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 from Monday to Friday.
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Source:https://elliottwave-forecast.com/sto...-bullish-bias/

AUDUSD: Buying The Dips at the Blue Box Area
June 13, 2024 By EWF Vlada
In this technical article we’re going to take a quick look at the Elliott Wave charts of AUDUSD Forex pair , published in members area of the website. As our members know, AUDUSD has recently given us correction against the 0.63618 low. The pair reached our target zone 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.
AUDUSD H4 London Update 06.05.2024
The pair is correcting cycle from the 0.63618 low low. The pull back looks incomplete at the moment. As far as the price stays below (x) blue peak: 0.6699, our analysis forecasts further downside in AUDUSD toward the 0.6576-0.65002 area ( blue box).
Despite the expected extension lower, we advise against selling AUDUSD. 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 -(X) blue, 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 :0.65002 .
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.
Reminder : You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

AUDUSD H4 London Update 06.13.2024

The pair found buyers within the Blue Box area as expected. We got a nice rally from our buying zone, counting pull back completed at the 0.65697 low. The bounce has exceeded the 50% Fibonacci retracement level against the connector peak. As a result, traders who entered long positions are now enjoying risk-free profits. With the price holding above the 0.65697 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 May 16th 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...e-buying-dips/

Elliott Wave Intraday Analysis on DAX Looking for Support Soon


Short Term Elliott Wave in DAX suggests the Index is correcting cycle from 4.19.2024 low. The rally from 4.19.2024 low ended wave 1 at 18892.92. Wave 2 pullback is currently in progress as a double three Elliott Wave structure. Down from wave 1, wave (a) ended at 18515.84 and wave (b) ended at 18855.05. Wave (c) lower ended at 18394.43 which completed wave ((w)) in higher degree. Wave ((x)) unfolded as an expanded flat Elliott Wave structure. Up from wave ((w)), wave (a) ended at 18697.09 and wave (b) ended at 18365.53. Wave (c) higher ended at 18784.65 which completed wave ((x)) in higher degree.

The Index has resumed lower in wave ((y)). Down from wave ((x)), wave (w) ended at 18359.42 and wave (x) rally ended at 18652.90. Wave (y) lower is now in progress to complete wave ((y)) of 2 in higher degree. The Index has reached the extreme area from wave 1 peak. This area of support is at 100% – 161.8% Fibonacci extension of wave ((w)), which comes at 17981 – 18287.2. From this area, the Index should turn and resume higher or at minimum rally in 3 waves.

DAX 60 Minutes Elliott Wave Chart

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DAX Elliott Wave Video


Source: https://elliottwave-forecast.com/new...-support-soon/
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Capitalizing on Echelon Prime Daily Price Correction
June 13, 2024 By EWFAyoub
PRIME is the native token of the Echelon Prime Foundation, a Web3 ecosystem advancing the next generation of gaming. In today’s article, we’ll explain the daily structure taking place based on the Elliott Wave Theory.
Prime started it’s bullish uptrend on May 2023. Since then, it rallied for 10 months straight achieving a total of +2255% and peaking at $28.3 on march 2024. That peak si proposed to be the initially wave ((1)) rally after it ended 5 waves advance and consequently it started 3 waves correction lower in wave ((2)).
The decline is currently still in progress and it’s unfolding within an Elliott Wave Zigzag structure. Prime is already trading within wave (C) of ((2)) and entering the extreme area between $11 and $5 where the daily correction is expected to end. Investors look to start accumulating in preparation for the next higher low. This will lead to a new rally within wave ((3)) with an initial target at $38 and extension higher at $54.
Prime Daily Chart 6.13.2024


Setup Recap
-Time Frame : Daily
-Entry Area : $11 – $6
-Invalidation Condition : Daily Close below $5
-Targets / Ratio : Target 1 at $38 (5.6 RR) – Target 2 at $54 (8.8 RR)

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Source:https://elliottwave-forecast.com/cry...ce-correction/

Elliott Wave Expects Nasdaq 100 (QQQ) to Continue Higher

Short Term Elliott Wave in Nasdaq 100 ETF (QQQ) suggests it shows a bullish sequence from 4.20.2024 low favoring more upside. Up from 4.20.2024 low, wave 1 ended at 461.5 and pullback in wave 2 ended at 443.06. The ETF has extended higher in wave 3. Internal subdivision of wave 3 is unfolding as a nesting impulsive structure. Up from wave 2, wave (i) ended at 455.58 and wave (ii) ended at 447.9. Wave (iii) higher ended at 465.55 and pullback in wave (iv) ended at 460.54. Last leg wave (v) ended at 465.74 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) ended at 461.5 and the ETF has extended higher.

Up from wave ((ii)), wave i ended at 465.19 and wave ii dips ended at 462.03. Then it rallied higher in wave iii towards 478.28 and wave iv pullback ended at 473.80. Last leg wave v ended at 478.95 which completed wave (i) in higher degree. The ETF then pullback in wave (ii) towards 474.42. Near term, as far as it stays above 461.51, expect pullback to find support in 3, 7, or 11 swing for further upside.

QQQ 45 Minutes Elliott Wave Chart

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QQQ Elliott Wave Video


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Elliott Wave Analysis on Copper (HG) Expects the Metal Turning Higher


Short Term Elliott Wave in Copper (HG) suggests the metal has ended wave (4) correction at 4.375. Wave (3) rally ended at 5.2 on 5.20.2024 which is all-time high price for Copper. Wave (4) pullback unfolded as a double three Elliott Wave structure. Down from wave (3), wave W ended at 4.7435 and wave X ended at 4.903. Wave Y lower subdivided into a zigzag structure where wave ((a)) ended at 4.571 and wave ((b)) ended at 4.696. The 45 minutes chart below shows wave ((b) on the left side of the chart.

Down from there, wave (i) ended at 4.518 and wave (ii) ended at 4.687. Wave (iii) lower ended at 4.431 and rally in wave (iv) ended at 4.612. Final leg wave (v) ended at 4.375. This completed wave ((c)) of Y of (4) in higher degree. The metal has turned higher and the rally looks impulsive. Up from 4.37, expect wave (i) to end soon, then it should pullback in wave (ii) to correct the short term rally from wave (4) before it resumes higher again. Near term, as far as pivot at 4.375 low stays intact, expect dips to find support in 3, 7, 11 swing for more upside.

Copper 45 Minutes Elliott Wave Chart

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Copper (HG) Elliott Wave Video

Inserted Video

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Exxon Mobil Corp (XOM) Found Sellers at the Blue Box Area

Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of Exxon Mobil Stock (XOM) published in members area of the website. As our members know the stock has been showing incomplete sequences in the cycle from the April 12th peak. Recently XOM has given us the recovery that reached our selling zone. The stock found sellers right at the Blue Box area and made the decline toward new lows as expected. In the further text we are going to explain the Elliott Wave Forecast and trading strategy.
XOM Elliott Wave 1 Hour Chart 06.06.2024
The stock is correcting the cycle from the 117.49 peak , giving us ((ii)) black recovery. The price has already reached the extreme zone at 113.58-114.88 (Blue Box – sellers zone). As of right now, we expect more short term strength within Blue Box to complete proposed correction. We don’t recommend buying the stock and prefer the short side from the blue box zone. As the main trend is bearish, we expect to see at least 3 waves pullback from our selling zone. Once the decline reaches 50 Fibs against the (b) blue low, we will make the short position risk-free (put SL at BE) and take partial profits.
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.



XOM Elliott Wave 1 Hour Chart 06. 18.2024
XOM found sellers at the Blue Box area: 113.58-114.88. We are receiving a good reaction from the selling zone. The decline made breaks toward new lows. So, members who took the short trade are currently enjoying profits in risk-free positions.
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 XOM 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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Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.
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Source: https://elliottwave-forecast.com/tra...p-xom-sellers/

BSX Should Pullback Soon Providing A Buying Opportunity

Boston Scientific Corporation (BSX) develops, manufactures & markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg & Cardiovascular segments. It offers devices to diagnose & treat different medical conditions and offer remote patient management systems. It is based in Marlborough, US, comes under Healthcare sector & trades as “BSX” ticker at NYSE.
BSX resumes higher in ((3)) of III showing from previous article from 1.29.2024. It favors upside in ((3)) & should finish between $68.86 – $81.53 area before correcting in ((4)).
BSX – Elliott Wave Latest Daily View:

Attached Image (click to enlarge)

In weekly sequence, it placed (II) at $24.10 low in March-2020 & II of (III) at $34.98 low in June-2022. Above there, it favors upside in ((3)) of III in bullish impulse sequence between extreme areas. Within III, it placed ((1)) at $55.38 high & pullback of ((2)) at $48.35 low in October-2023 low. It placed (1) of ((1)) at $43.52 high, (2) at $37.74 low, (3) as extended wave at $54.74 high, (4) at $49.69 low & finally (5) as ((1)) at $55.38 high. ((2)) pullback was 0.382 Fibonacci retracement of ((1)).
BSX – Elliott Wave Latest Weekly View:



Above ((2)) low, it placed (1) at $56.90 high, (2) at $54.95 low, (3) at $69.20 high & (4) at $66.80 low as shallow correction. Currently, it favors upside in 3 of (5) & expects two more highs to finish (5) as ((3)) between $68.86 – $81.53 area before any larger correction of ((4)) may starts. We do not recommend selling it in any pullback shown on the chart as it is in bullish sequence. We like to buy the next pullback in ((4)) in 3, 7 or 11 swings at extreme areas.
Elliottwave Forecast updates 1-hour charts four times a day & 4-hour charts once a day for all our 78 instruments. We do a daily live session, where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market at the moment. You can try us for 14 days for only $9.99.

Source: https://elliottwave-forecast.com/sto...g-opportunity/

Elliott Wave Expects Nasdaq 100 (QQQ) to Continue Higher

Short Term Elliott Wave in Nasdaq 100 ETF (QQQ) suggests it shows a bullish sequence from 4.20.2024 low favoring more upside. Up from 4.20.2024 low, wave 1 ended at 461.5 and pullback in wave 2 ended at 443.06. The ETF has extended higher in wave 3. Internal subdivision of wave 3 is unfolding as a nesting impulsive structure. Up from wave 2, wave (i) ended at 455.58 and wave (ii) ended at 447.9. Wave (iii) higher ended at 465.55 and pullback in wave (iv) ended at 460.54. Last leg wave (v) ended at 465.74 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) ended at 461.5 and the ETF has extended higher.

Up from wave ((ii)), wave i ended at 465.19 and wave ii dips ended at 462.03. Then it rallied higher in wave iii towards 478.28 and wave iv pullback ended at 473.80. Last leg wave v ended at 478.95 which completed wave (i) in higher degree. The ETF then pullback in wave (ii) towards 474.42. Near term, as far as it stays above 461.51, expect pullback to find support in 3, 7, or 11 swing for further upside.
QQQ 45 Minutes Elliott Wave Chart



QQQ Elliott Wave Video


Source: https://elliottwave-forecast.com/new...ntinue-higher/

Microsoft Corp. ( $MSFT) React From the Blue Box Area as Expected.

Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of Microsoft Corp. ($MSFT). The rally from 6.03.2024 low at $408.93 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 7 swings and find buyers again. We will explain the structure & forecast below:
7 Swings WXY correction



$MSFT 1H Elliott Wave Chart 6.14.2024:



Here is the 1H Elliott Wave count from 6.14.2024. We expected the pullback to find buyers at the blue box area at 437.91 – 434.54 in 7 swings.

$MSFT 1H Elliott Wave Chart 6.14.2024:



Here is the next 1H update taking place within the same day, showing the bounce taking place as expected. The stock reacted higher from the blue box area allowing longs to get risk free. The stock is expected to trade higher towards $451– 479 before another pullback can happen.
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Source: https://elliottwave-forecast.com/sto...area-expected/

Uranium Miners ETF (URA) Looking to End Impulsive Rally

The Global X Uranium ETF ($URA) provides investors access to a broad range of companies involved in uranium mining and the production of nuclear components. It includes those miners involved in extraction, refining, exploration, or manufacturing of equipment for the uranium and nuclear industries. $URA offers a convenient way for investors to gain diversified exposure to uranium without directly owning physical assets or individual stocks. Below we will update the Elliott Wave outlook for this ETF.

$URA Elliott Wave Chart Monthly Chart



Monthly Elliott Wave Chart of Uranium ETF (ETF) shows that wave ((II)) Grand Super Cycle correction ended at 6.95. Wave ((III)) higher is currently in progress with internal subdivision as an impulse. Up from wave ((II)), wave I ended at 31.6 and wave II dips ended at 17.65. The ETF has broken above wave I, creating a bullish sequence from wave ((II)) low. Near term, the ETF is looking to extend higher to end wave (5) before ending wave ((1)) of III in higher degree. Afterwards, it should pullback in larger degree wave ((2)) before it resumes higher again. Further upside should be seen in years ahead against wave II low at 17.65 and pullback should find support in 3, 7, or 11 swing.

$URA Elliott Wave Chart Alternate Monthly Chart



In the alternate monthly chart above, wave the ETF is also within wave III higher. However, near term it has ended wave ((1)) and already starting the larger degree wave ((2)) pullback to correct the rally from wave II low. In this alternate view, we can expect a prolonged and larger pullback in wave ((2)) before the ETF resumes higher again.

$URA Daily Elliott Wave Chart



Daily Elliott Wave Chart of $URA above shows the primary view where the ETF is looking to rally to end wave (5) of ((1)). Up from wave (4), wave 1 ended at $33.66 and pullback in wave 2 ended at $28.78. Expect the ETF to extend higher as far as pullback stays above wave (4) at $26.77. If the ETF breaks below 26.77, then the alternate view explained above plays out. The alternate view suggests wave ((1)) has ended at the recent peak $33.66. Currently, it’s doing a larger degree wave ((2)) pullback already to correct cycle from 7.6.2022 low.
$URA is not part of our r regular service. However, we cover many other instrument including forex, Indices, stocks, ETF, commodities, and crypto-currencies. If you want to get regular technical forecast, you can try our service here –> 14 days Trial

Source: https://elliottwave-forecast.com/sto...pulsive-rally/

Elliott Wave Analysis on Copper (HG) Expects the Metal Turning Higher

Short Term Elliott Wave in Copper (HG) suggests the metal has ended wave (4) correction at 4.375. Wave (3) rally ended at 5.2 on 5.20.2024 which is all-time high price for Copper. Wave (4) pullback unfolded as a double three Elliott Wave structure. Down from wave (3), wave W ended at 4.7435 and wave X ended at 4.903. Wave Y lower subdivided into a zigzag structure where wave ((a)) ended at 4.571 and wave ((b)) ended at 4.696. The 45 minutes chart below shows wave ((b) on the left side of the chart.

Down from there, wave (i) ended at 4.518 and wave (ii) ended at 4.687. Wave (iii) lower ended at 4.431 and rally in wave (iv) ended at 4.612. Final leg wave (v) ended at 4.375. This completed wave ((c)) of Y of (4) in higher degree. The metal has turned higher and the rally looks impulsive. Up from 4.37, expect wave (i) to end soon, then it should pullback in wave (ii) to correct the short term rally from wave (4) before it resumes higher again. Near term, as far as pivot at 4.375 low stays intact, expect dips to find support in 3, 7, 11 swing for more upside.

Copper 45 Minutes Elliott Wave Chart



Copper (HG) Elliott Wave Video


Source: https://elliottwave-forecast.com/new...urning-higher/

Elliott Wave Analysis on Nasdaq (NQ) Looking for Further Rally


Short Term Elliott Wave in Nasdaq Futures (NQ) suggests that cycle from 4.19.2024 low is in progress as an impulse. Up from 4.19.2024 low, wave 1 ended at 19023.25 and pullback in wave 2 ended at 18241.25. Wave 3 higher is currently in progress with subdivision of an impulse in lesser degree. Up from wave 2, wave (i) ended at 18755.50 and pullback in wave (ii) ended at 18435.75. The Index rallied higher in wave (iii) towards 19124.5 and dips in wave (iv) ended at 18940. Final leg wave (v) ended at 19155 which completed wave ((i)).

Pullback in wave ((ii)) ended at 18971.93 with internal subdivision as a zigzag structure. Down from wave ((i)), wave (a) ended at 18997 and wave (b) ended at 19067.75. Wave (c) lower ended at 18971.93 which completed wave ((ii)) in higher degree. The Index rallied higher in wave ((iii)) as an impulse. Up from wave ((ii)), wave (i) ended at 19671.75 and wave (ii) pullback ended at 19500. Near term, as far as pivot at 18971.9 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Nasdaq 60 Minutes Elliott Wave Chart

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Nasdaq (NQ) Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...looking-rally/
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Elliott Wave Analysis shows NIFTY-50 Pullback is Imminent
June 20, 2024 By EWFSanmi
Hello traders. In this post, we will analyze the NIFTY-50 price chart. The Nifty 50 includes 50 major companies listed on the National Stock Exchange (NSE) of India. It is one of India’s two main stock indices, alongside the BSE Sensex.
NIFTY-50 Elliott Wave Analysis – Weekly Chart
NIFTY 50 is in a long-term bullish cycle on the monthly chart. On the weekly chart, the current bullish sub-cycle began in March 2020 when wave ((II)) grand supercycle ended. From a low of 7525.04, the index started the grand supercycle wave ((III)) and has been rising since then. The sub-waves of ((III)) show the price completed supercycle waves (I) and (II) in October 2021 and June 2022. Now, the price is rising in an impulse structure for wave (III).

The weekly chart above shows the index is on wave (5) of ((3)) of I of (III) of ((III)). Thus, the bullish trend has a long way to go. This is a clear bullish sequence. Buyers will look to buy pullbacks of ((4)) after the ((3)) high is confirmed. Alternatively, buyers can find opportunities at wave 2 and 4 pullbacks within the wave (5) sub-structure before ((3)) ends. To trade the sub-waves of (5), traders should check the daily or H4 chart.

NIFTY-50 Elliott Wave Analysis – H4 Chart

We shared the H4 chart with Elliottwave-Forecast group 2 members on 06.19.2024. Members received this chart at the end of the trading day along with H4 charts of 25 other instruments. In the members’ area, we cover 78 instruments in three groups of 26 each, including Forex, Stocks, Indices, Cryptocurrencies, Commodities, and ETFs.

The H4 chart shows wave 1 of (5) completing an impulse wave structure with the 5th sub-wave forming an ending diagonal. Ending diagonals are powerful reversal patterns in technical analysis. If prices break the lower boundary of the diagonal, confirming the end of wave 1, we can expect a corrective pullback for wave 2. Therefore, our focus on the H4 chart is to buy at the end of wave 2, not sell into wave 2. The trend is bullish, and we follow where the big players trade. We will monitor NIFTY on both the H4 and H1/30 Min charts. We update H1 charts four times a day for all 78 instruments.
Members receive hourly updates four times a day and can use our forecasts as trading guides. Each chart indicates the trading direction to consider. In the live trading room, members have access to trade signals and trade management guides. They can chat with our analysts 24 hours from Monday to Friday.
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Source:https://elliottwave-forecast.com/sto...back-imminent/

Incomplete Bullish Elliott Wave Sequence in Netflix (NFLX) Argues for More Upside

Short Term Elliott Wave in Netflix (NFLX) shows incomplete bullish sequence from 4.22.2024 low favoring further upside. Rally from 4.22.2024 low is unfolding as an impulse Elliott Wave structure. Up from there, wave (1) ended at 664.25 and pullback in wave (2) ended at 626.44. The stock extended higher in wave (3) with internal subdivision as an impulse in lesser degree. Up from wave (2), wave ((i)) ended at 635.83 and wave ((ii)) pullback ended at 628.25. The stock extended higher in wave ((iii)) towards 651.25 and wave ((iv)) ended at 644.06. Wave ((v)) higher ended at 657.99 which completed wave 1 in higher degree.

Pullback in wave 2 ended at 635.61 with internal subdivision as a double three Elliott Wave structure. Down from wave 2, wave ((w)) ended at 642.64 and wave ((x)) ended at 649.93. Wave ((y)) lower ended at 635.61 which completed wave 2. Wave 3 is currently in progress. Up from wave 2, wave ((i)) ended at 656 and pullback in wave ((ii)) ended at 642.35. Rally in wave ((iii)) ended at 694.39 and pullback in wave ((iv)) ended at 673.72. Near term, as far as pivot at 635.6 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

Netflix 30 Minutes Elliott Wave Chart

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Netflix (NFLX) Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...argues-upside/
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The Party at JPMorgan (JPM) Must Continue

JPMorgan Chase & Co. (JPM) is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of December 31, 2021, JPMorgan Chase is the largest bank in the United States, the world’s largest bank by market capitalization, and the fifth-largest bank in the world in terms of total assets, with total assets totaling to US$3.831 trillion.
JPM Daily Chart June 2023



In June 2023 update, we showed a cycle ended as wave ((2)) near to a blue box at 101.22. Then, we can see how price action built 5 waves higher to end the leading diagonal at $144.34 as wave 1. Then, it developed a flat correction 3-3-5 where wave ((c)) was a clear ending diagonal to finish wave 2 at $123.11 low. After this, the market continued to the upside and we called that the stock should continue with this trend until completing another impulse as wave ((i)) before seeing 3, 7 or 11 swings correction as wave ((ii)). If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory).
JPM Daily Chart October 2023



In October 2023, the market continued higher as expected and it ended wave ((i)) at $159.38 high. Then, the price action developed clearly 3 swings lower where wave (b) was a flat correction and it should keep dropping to $134.59 – $130.20 area to end wave ((ii)) before turning higher again.
JPM Daily Chart February 2024



In February, the wave ((ii)) ended at $135.19 low missing the minimum target of $134.59 for 60 cents. JPM rallied strong continuing with the impulse structure. Wave ((iii)) completed at $176.31 high and pullback as wave ((iv)) ended at $164.30 low. We were looking for more upside to complete wave ((v)). This wave ((v)) also would end wave 3 and the stock should enter in a wave 4 correction.
JPM Daily Chart June 2024



More than a year ago, we have seen how JPMorgan shares have doubled in value from 100 to 200 dollars. Here in the daily chart, we have adjusted the labels creating a triple nest. Therefore, what we used to call waves 1-2 are now (1)-(2). Waves ((i))-((ii)) are 1-2. And what we called wave ((iii)), we labeled as wave ((i)) of the extension of wave 3. Shares ended wave ((v)) of 3 at $200.94 high and started wave 4 corrrection finishing at $179.20 low. Market continued with the rally ending a new high at $205.88. This peak we are calling as wave ((i)) of 5 of (3). Wave ((ii)) of 5 ended at $190.88 low and JPM needs to break above wave ((i)) to confirm that wave ((iii)) has started. Inclusive, wave 5 of (3) could have completed already. To get that conclusion, the market must fall below $186 and test prices at $180.
JPM Weekly Chart June 2024



This is the weekly chart with which we can see the picture more clearly. Currently, the stock is building wave ((3)) of V. Wave ((1)) ended at $172.96 high and wave ((2)) ended at 101.28 low. Therefore, JPM prices must continue to rise to develop wave ((5)) of V. The strategy is simple. You have to look for buying opportunities after 3, 7 or 11 swings correction until wave V is ended.
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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/sto...-jpm-continue/