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Elliott Wave Analysis: META hits new high from blue box
October 3, 2024 By EWFSanmi
Hello traders, welcome to another ‘Blue Box’ blog post, where we review past trades taken by Elliottwave-Forecast members for educational purposes. In this post, we’ll discuss a recent trade setup on META.
Meta Platforms, formerly Facebook, is a tech company focused on building the “metaverse.” It owns Facebook, Instagram, and WhatsApp, and develops virtual reality (VR) and augmented reality (AR) products. $META is one of the 26 instruments we cover for members in Group 2.
After a significant decline of over 77% from its July 2021 record high, the stock has since delivered one of the best gains in the past two years. From the January 2023 lows, it has surged around 500% in a clear bullish sequence. When price is trending in a bullish sequence, we prefer buying dips in 3, 7, or 11 swings. Conversely, in a bearish sequence, we focus on selling bounces within the same 3, 7, or 11 swing corrective structure. This way, we align our trades with the dominant market direction.
Moreover, we mark potential trade zones with the Blue Box on our charts, which guides members on where to enter trades and place stop losses, ensuring they follow the market’s overall path effectively.
META Elliott Wave Analysis, 9.24.2024

On 9.24.2024, we shared the META H1 chart with members. We identified a 3-swing pullback which we expected to complete within the 557.43-550.30 blue box range. We recommended traders consider buying from this blue box, placing stops below it. Additionally, we provided a trade management guide in the trading journal and live trading room.

As the chart above shows, traders went long from the blue box. Shortly afterward, the price reacted and separated from the blue box to a risk-free area.
META Elliott Wave Analysis, 10.02.2024

On 10.02.2024, we shared the chart above with members, highlighting how far the price has moved away from the blue box. The chart also indicates that the impulse wave sequence is likely incomplete. From wave ((iv)), the price is expected to rally in wave ((v)) to complete wave (3). Afterward, a pullback for wave (4) should occur, and we can consider buying again if the pullback meets our entry criteria.

We will continue to monitor the development of META and the other 77 instruments we cover, providing 24-hour updates to members.
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Source:https://elliottwave-forecast.com/sto...very-blue-box/

Intraday Elliott Wave View on Gold (XAUUSD) Looking to Resume Bullish Trend

Short Term Elliott Wave View in Gold (XAUUSD) suggests that rally to 2685.58 ended wave 3. The metal then did a pullback in wave 4 with internal subdivision as a double three Elliott Wave structure. Down from wave 3, wave (a) ended at 2654.68 and wave (b) rally ended at 2677.86. The metal extended lower in wave (c) towards 2643.02 which completed wave ((w)). Rally in wave ((x)) ended at 2665.99 and the metal has extended lower again.

Down from wave ((x)), wave (w) ended at 2634.3 and wave (x) rally ended at 2644.20. Wave (y) lower ended at 2624.52 which completed wave ((y)) of 4 in higher degree. The metal has turned higher in wave 5, but it still needs to break above wave 3 at 2685.58 to rule out a double correction. Up from wave 4, wave ((i)) ended at 2673.14. Down from there, wave (a) ended at 2643.65 and wave (b) ended at 2662.92. Wave (c) lower ended at 2637.26 which completed wave ((ii)) in higher degree. The metal has resumed higher in wave ((iii)). Near term, while above 2624.5, expect pullback to find buyers in 3, 7, 11 swing for further upside.

Gold (XAUUSD) 30 Minutes Elliott Wave Chart

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XAUUSD Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...bullish-trend/
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Caterpillar Inc ( CAT): Trading Higher Within A Wave (III), Target Above $600.00
October 4, 2024 By EWF Eric
Caterpillar Inc., commonly known as CAT, is a leading American manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Caterpillar operates globally and is known for its extensive product line, which includes machinery like bulldozers, excavators, wheel loaders, and haul trucks. Below we will look at the long term Elliott Wave outlook of the company.
Caterpillar Quarterly Elliott Wave Chart

Quarterly Elliott Wave chart of Caterpillar above (CAT) shows that the stock extended higher strongly within wave (III). The subdivision of wave (III) is unfolding as a nesting 5 waves impulse. Up from wave (II), wave I ended at 173.24 and dips in wave II ended at 87.50. The stock nested higher in wave III with wave ((1)) ended at 246.69 and pullback in wave ((2)) ended at 160.60. Stock should continue to extend higher and dips to find support in 3, 7, 11 swing as the stock continues to extend higher in impulsive structure.

Weekly Caterpillar (CAT) Elliott Wave Chart

Weekly Elliott Wave Chart of Caterpillar (CAT) above shows that pullback to 160.6 ended wave ((2)) on September 26, 2022. Stock has resumed higher in wave ((3)) with internal subdivision as an impulse. Up from wave ((2)), wave (1) ended at 266.04 and pullback in wave (2) ended at 204.04. Stock rallied higher as a nesting impulse. Wave 1 ended at 293.88 and wave 2 dips ended at 223.76. Wave 3 higher ended at 382.01 and pullback in wave 4 ended at 307.05. Expect the stock to continue to extend higher in the impulsive structure.

Caterpillar (CAT) Elliott Wave Video

Source:https://elliottwave-forecast.com/vid...-above-600-00/

International Business Machine Corp (IBM): Showing a Bullish Sequence And Looking for A $400.00 Target
October 4, 2024 By EWF Eric
IBM, or International Business Machine Corporation, is a multinational technology company headquartered in Armonk, New York. IBM operates in over 175 countries and offers a wide range of products and services, including cloud computing, artificial intelligence, computer hardware, and software. The company is also a leader in quantum computing and has made significant advancements in this field. This article and video look at the Elliott Wave outlook of the IBM.
IBM Quarterly Elliott Wave Chart

Quarterly Elliott Wave Chart of IBM above shows the stock formed a bullish sequence. It has broken above wave ((I)) peak, confirming the bullish sequence. Rally to 206.22 ended wave ((I)) in grand super cycle. Down from there, wave (w) ended at 111.66 and wave (x) rally ended at 174.59. Wave (y) lower ended at 86.50 which completed wave ((II)) in higher degree. The stock has resumed higher in wave ((III)) and should continue to extend higher.

International Business Machine (IBM) Weekly Elliott Wave Chart

Weekly Elliott Wave View on IBM above shows wave ((II)) pullback ended at 87.62. Up from there, wave I ended at 153.21 and pullback in wave II ended at 120.55. Expect the stock to complete wave III soon, then it should pullback in wave IV before it resumes higher again in wave V to complete wave (I). While above 87.62, expect dips to find support in 3, 7, 11 swing for further upside.

IBM Elliott Wave Video

Source:https://elliottwave-forecast.com/vid...400-00-target/

JNJ Should Continue Higher at Least to Complete a Pullback
October 7, 2024 By EWFLuis
Johnson & Johnson (JNJ) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. Its common stock is a component of the Dow Jones Industrial Average, and the company is ranked No. 36 on the 2021 Fortune 500 list of the largest United States corporations by total revenue.
JNJ Weekly Chart June 2024


In the last analysis, we had adjusted the labelling of the structure from 186.69 high. Down from the peak. We labeled a flat correction as wave ((W)) where wave (C) was an ending diagonal. Wave (A) ended at 159.17 low in Oct 2022 and wave (B) rally finished at 181.04 high. Then, the structure looked like as a double correction because we had a lot of waves traslaped. However, the momentum slowed down, suggesting that JNJ could be ready for a rally and the ending diagonal structure as wave (C) is the best option for this. (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory).
JNJ Daily Chart June 2024

With a new Daily chart of JNJ, the price action broke below 144.95 wave 3 low, suggesting we are currently trading in wave 5 of (C). We said that, it was possible that wave 5 could be ended at 143.13 wave ((w)) low. However, we expected one more slighly low in 142. 25 – 138.52 area to end wave 5 of (C) and ((W)) as a double correction before resuming the rally.

JNJ Weekly Chart October 2024


Above we have last JNJ weekly chart updated. We can see the rally as expected ending wave (A) at 168.85 high and now it is pulling back in wave (B). As minimum we are looking for an (A), (B), (C) structure to complete wave ((X)) before resuming lower in wave ((Y)). However, we cannot rule out for now that JNJ breaks above wave I developing an impulse. If that happens, it is very possible that wave II could be completed.
JNJ Daily Chart October 2024


In the daily chart, we can see how the wave 5 end at 143.13 low developing a flat correction. Missing the slighly low to the bule box area. Wave ((W)) ended and the stock is bouncing in wave ((X)) correction. Wave (A) of ((X)) ended at 168.85 high and wave (B) is building a flat correction lower. The wave (B) could end in 155.87 – 152.82 area and then resume the rally in wave (C) of ((X)). So be it is not clear that JNJ is going to do an impulse or correction from 143.13 low, we prefer to remain bullish and look for buying opportunities.
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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...lete-pullback/

Silver (XAGUSD) Buying the Dips at the Blue Box Area
October 7, 2024 By EWF Vlada
In this technical article we’re going to take a quick look at the Elliott Wave charts of Silver (XAGUSD ) commodity , published in members area of the website. As our members know, Silver has recently given us correction against the September 6th low. The commodity reached our target zone and completed correction right at the Equal Legs ( Blue Box Area) . In further text we’re going to explain the Elliott Wave pattern and trading setup.
SILVER H1 Update 09.30.2024
The commodity is giving us wave (iv) blue correction. The pull back has incomplete structure at the moment. Consequently, we are looking for another short term low toward the extreme zone ( Blue Box ). However, we don’t recommend selling it. We expect it to attract buyers at the Blue Box zone. The commodity could make either rally towards new highs or a larger corrective bounce in three waves at least. Once the bounce reaches the 50% Fibonacci retracement level against the connector high – x red, we’ll secure our position by moving the stop-loss to breakeven. Break below the marked invalidation level : 30.44 would invalidate the trade.
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.

SILVER H1 Update 10.01.2024

The commodity made another leg down and found buyers within the Blue Box area as expected. We got a nice rally from our buying zone, consequently counting 4 red pull back completed at 30.86 low. The bounce has exceeded the 50% Fibonacci retracement level against the connector peak – currently marked as ((x)) black. As a result, traders who entered long positions are now enjoying risk-free profits. With the price holding above the 30.86 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.

SILVER H1 Update 10.05.2024

Eventually the commodity made break of 3 red peak as we expected. We expect Silver to keep trading higher ideally as far as pivot at 30.86 low holds.
To capitalize on these opportunities and stay ahead, consider exploring our expert services and insights. 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...ng-blue-box-2/

Elliott Wave View on GDX Favors Pullback Before Rally
Short Term Elliott Wave View in GDX suggests the zigzag correction should find support towards extreme areas before resuming higher to finish the impulse sequence from 5-August 2024 low. It is showing higher high sequence in daily from September-2022 low and expect short term rally to continue against August-2024 low. Since 5-August 2024 low, it placed 1 at 39.97 high and 2 correction at 36.22 low as 0.618 Fibonacci retracement. Above 36.22 low, it placed ((i)) of 3 at 36.89 high, ((ii)) at 36.44 low, ((iii)) as extended wave at 40.98 high, ((iv)) at 39.02 low and finally ((v)) as 3 at 42.12 high.
Below 3 high, it favors zigzag correction in 4 against 6-September 2024 low before resuming higher. Below 42.12 high, it favors pullback in ((c)) of 4 started from 40.79 high. It placed ((a)) of 4 at 39.35 low as 5 swing sequence, while placed ((b)) at 40.79 high. Within ((a)), it placed (i) at 41.22 low, (ii) at 41.95 high, (iii) at 39.96 low, (iv) at 40.75 high and (v) as ((a)) at 39.35 high. Below ((b)) high, it placed (i) at 39.12 low and (ii) at 40.19 high. Currently, it favors lower in (iii) and expect short term weakness towards 38.03 or lower levels to finish zigzag before resuming higher in 5 as possible diagonal from August-2024 low.

GDX 60 Minutes Elliott Wave Chart


GDX Elliott Wave Video


Source: https://elliottwave-forecast.com/new...-before-rally/
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Source: https://elliottwave-forecast.com/new...-before-rally/
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Gold Found Buyers Once Again At The Blue Box Area
October 7, 2024 By Hassan Sheikh
In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of the Gold. The rally from the 25 July 2024 low showed a higher high sequence & provided a short-term extreme trading opportunity. In this case, the pullback managed to reach the equal legs area & provided a perfect reaction higher. So, we advised members not to sell Gold but to buy the blue box area for a minimum reaction higher to happen. We will explain the structure & forecast below:
Gold 1-Hour Elliott Wave Chart From 9.30.2024

Here’s the 1-hour Elliott wave Chart from the 09/30/2024 NY update. In which, the rally to $2685.58 high ended wave 3 & made a pullback in wave 4. The internals of that pullback unfolded as Elliott wave double three structure where wave ((w)) ended at $2643.02 low. Then a short-term bounce to $2665.99 high-ended wave ((x)) & started the next leg lower in wave ((y)) towards $2623.88- $2597.89 equal legs area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

Gold Latest 1-Hour Elliott Wave Chart From 10.07.2024


Above is the Latest 1-hour Elliott Wave Chart from the 10.07.2024 London update. In which the metal is showing a perfect reaction higher taking place from the equal legs area. Right after ending the correction. Allowed members to create a risk-free position shortly after taking a long position. But a break above $2685.58 high would still be needed to confirm the next leg higher minimum towards the $2699.74- $2723.00 area & avoid double correction lower.

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Source:https://elliottwave-forecast.com/com...blue-box-area/

Elliott Wave Intraday View in GBPJPY Looking for Further Upside

Short Term Elliott Wave View in GBPJPY suggests that cycle from 9.11.2024 low is currently in progress as a zigzag. Up from 9.11.2024 low, wave A ended at 195.97. Pullback in wave B also unfolded as a zigzag Elliott Wave structure. Down from wave A, wave ((a)) ended at 190.96 and wave ((b)) ended at 192.22. Wave ((c)) lower ended at 189.56 which completed wave B in higher degree.

The pair has turned higher in wave C. Up from wave B, wave (i) ended at 193.35 and pullback in wave (ii) ended at 189.84. Pair extended higher in wave (iii) towards 195.17 and pullback in wave (iv) ended at 191.72. Final leg wave (v) ended at 195.62 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) is currently in progress to correct cycle from 9.30.2024 low in 3, 7, or 11 swing before it resumes higher. Down from wave ((i)), wave (a) ended at 192.88. Expect pair to rally in wave (b) then turns lower again in wave (c) to complete wave ((ii)). Near term, while pivot at 189.57 low remains intact, expect dips to find buyers in 3, 7, 11 swing for further upside.

GBPJPY 45 Minutes Elliott Wave Chart

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GBPJPY Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...ooking-upside/
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Riding the Wave: ( $XLU)’s Impressive Rally and What’s Coming Next Part 2
October 7, 2024 By EWFTaha
Hello everyone! In today’s article, we will follow up on the past performance of the SPDR Utilities Select Sector ETF ($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 October 2023, 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:

In May 2023, we explained that $XLU has bounced 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.

$XLU Weekly Elliott Wave View – Oct 07, 2024:


The latest weekly update is showing that the ETF has broke above the all-time highs. As a result, it has opened a bullish sequence. We expect The ETF to continue its rally towards the $83.64 – $92.58 range in a series of wave 4 and 5 pattern. Traders can look for re-entry opportunities at red 4 and blue (4) in 3 or 7 swings. Once the pattern is complete, a larger degree pullback in black ((2)) is expected to take place to correct the entire cycle from Oct 2023 low.

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

APTOS ( APT ) Bullish Structure Support More Upside
October 8, 2024 By EWFAyoub
Aptos APT is an independent Layer 1 blockchain platform focused on safety and scalability driving growth within a decentralized network and developer ecosystem. In today’s blog, we’ll dive into the daily Elliott Wave structure taking place and show the potential outcome for the coin.
On the 5th of August 2024, APT ended a corrective Zigzag structure at $4.32 then turned higher from there. The coin started rallying within an impulsive structure and it reached the initial target area at $8.7 – $9.5. It’s expected to soon end wave 3 and then pullback in wave 4 before another push higher in wave 5.
APT continues to create a higher high sequence followed by a higher low and therefore the next short term pullback is expected to remain supported above 10/1 low $7.23. The upside move could extend toward the 1.618 Fibonacci extension from August low at $10.7 and the coin can end wave (1) there before starting a larger pullback in wave (2).
APT Daily Chart 10.8.2024

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Will NextEra Energy (NEE) Continue Bullish Trend or Correcting Lower?
October 8, 2024 By EWFRaj
NextEra Energy, Inc., (NEE) is an American Energy company through its subsidiaries generates, transmits, distributes & sells electric power to retail & wholesale customers in North America. The company generates electricity, through wind, solar, nuclear, natural gas & other clean energy. It is based in June Beach, Florida, comes under Utility sector & trades as “NEE” ticker at NYSE.
In daily, it favors upside from October-2023 low & confirms bullish sequence, when break above $93.73 high. Currently, it favors upside in ((5)) to finish I & soon will starts correcting in II in 3, 7 or 11 swings pullback.
NEE – Elliott Wave Latest Weekly View:

In Monthly sequence, it ended ((I)) at $93.73 high in December-2021, since its inception. It corrected lower in ((II)) as double correction, which ended at $47.15 low in October-2023 low. Within ((II)), it placed (w) at $67.22 low, (x) at 76.67 high as triangle structure & (y) at $47.15 low.
Above ((II)) low, it favors upside in I of (I) of ((III)) & need to break above $93.73 high to confirm the bullish sequence. Above $47.15 low, it placed ((1)) of I at $64.59 high as diagonal, ((2)) at $53.95 low, ((3)) at $80.47 high & ((4)) at $68.97 low. Currently, it favors upside in ((5)) started from June-2024 low & expect small upside to finish I while high comes with momentum divergence. Later, it should correct in II in 3, 7 or 11 swings against October-2023 low before resume higher. If it extends higher & erase the momentum divergence, then it will be nesting in (I). We like to buy the pullback in 3, 7 or 11 swings, once it confirms bullish sequence. Until it breaks above December-2021 high, it can remain choppy or do larger double correction in ((II)), if breaks below $47.15 low.
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Source:https://elliottwave-forecast.com/sto...recting-lower/

PLTR [Palantir] Elliott Wave Structure Calls for New All Time Highs
October 8, 2024 By Daud Bhatti
Palantir Technologies (PLTR), Inc. is a holding company, which engages in the development of data integration and software solutions. It operates through the Commercial and Government segments. The firm offers automotive, financial compliance, legal intelligence, mergers, and acquisitions solutions. PLTR has been rallying strongly since forming a low in December 2022. The rally has gained momentum recently and keeps extending. Today, we take a closer look at the big picture view of Palantir and also look at the internal structure of the rally from the December 2022 low.
PLTR [Palantir] Weekly Elliott Wave Analysis [10.8.2024]
Palantir ended a cycle at $45.00 in January 2021. Then it did a deep pullback as a Zig Zag Elliott Wave correction ending wave (II) at 5.91 low. The market started an impulse structure in wave ((1)) which completed at $21.87. This was followed by a pullback in wave ((2)) which completed at $15.61 in January 2024. Stock then resumed the rally in wave ((3)) which is still in progress. Price has already exceeded 161.8% Fibonacci extension of wave (1)-(2) at $36.35 and 261.8 Fibonacci extension of wave (1)-(2) comes at $46.15 which could be the next ideal target area to complete wave (3). 100% Fibonacci extension of wave (I) related to wave (II) is at $50.90 and this is the first major target for the rally which started in December 2022. This is above the previous all-time peak of $45 seen back in January 2021.

PLTR [Palantir] Daily Elliott Wave Analysis [10.8.2024]

The daily chart below shows wave ((2)) pullback completed at $15.61. Up from there wave (1) completed at $27.53, wave (2) pullback completed at $20.39 and it’s currently trading higher in wave (3). Currently, we see 11 swings higher from the wave (2) low. 11 swings is a corrective sequence which means we need more upside within the current cycle to complete the impulsive advance before wave (3) concludes. After that we should see a pullback in wave (4) and an extension higher in wave (5) to complete wave ((3)).

Source:https://elliottwave-forecast.com/sto...ave-new-highs/

Elliott Wave Suggests Dow Futures (YM) Will Break to New All-Time High

Short Term Elliott Wave View in Dow Futures (YM) suggests rally to 43005 ended wave 3. Pullback in wave 4 unfolded as a zigzag Elliott Wave structure. Down from wave 3, wave ((a)) ended at 42245. Rally in wave ((b)) unfolded as expanded flat Elliott Wave structure. Up from wave ((a)), wave (a) ended at 42673 and dips in wave (b) ended at 42142. Wave (c) higher ended at 42663 which completed wave ((b)) in higher degree. The Index then extended lower in wave ((c)) towards 42093 which completed wave 4 in higher degree.

Index has turned higher in wave 5. However, it still needs to break above wave 3 peak at 43005 to rule out any double correction. Up from wave 4, wave (i) ended at 42427 and dips in wave (ii) ended at 42254. Wave (iii) higher ended at 42805 and pullback in wave (iv) ended at 42656. Expect wave (v) to end soon which should complete wave ((i)) in higher degree. Afterwards, it should pullback in wave ((ii)) to correct cycle from 10.8.2024 low before it extends higher. Near term, as far as pivot at 42092 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Dow Futures (YM_F) 60 Minutes Elliott Wave Chart

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YM_F Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...new-time-high/
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QQQ (Nasdaq ETF) reaches risk free area from blue box
October 9, 2024 By EWFSanmi
Hello traders. Welcome to a new ‘blue box’ blog post where we discuss our most recent trade setups shared with Elliottwave-Forecast members. In this one, we will discuss the Qs – QQQ (Investico QQQ ETF).
The Invesco QQQ ETF tracks the Nasdaq-100 Index, focusing on 100 large non-financial companies, mainly in technology, healthcare, and consumer sectors. It’s a popular choice for investors seeking exposure to large-cap tech companies.
The post-COVID recovery for U.S. markets began in October 2022, and since then, the market has sustained a bullish cycle, producing a series of higher highs and higher lows. In such bullish sequences, we prefer to buy pullbacks in 3, 7, or 11 swings. The QQQ ETF has followed a similar pattern, with its price recovering from every pullback before July 2024.
Notably, the bullish impulse sequence that started in October 2022 still appears incomplete, leading us to continue buying this ETF on dips. The most recent pullback occurred between July and August 2024, followed by a resurgence that has yet to break the previous high from July 2024. However, a higher-high sequence emerged when the ETF breached its August high, presenting an opportunity within the shorter cycles.
QQQ Elliott Wane Analysis – 10.01.2024 Update


We identified an impulse wave sequence in the shorter cycles after the price broke above the August 2024 high. Consequently, we informed our members that we would look to buy the next 3, 7, or 11 swings pullback at the equal leg. To illustrate this, the abridged chart above illustrated end of wave 4, highlighting the blue box area, indicating a buy at 477/478 with a stop at 470.
Our plan was to adjust the stop to either the entry point or the low of wave (c) once the price made a significant bounce to what we call the “risk-free area.” At that point, we typically close half of the position for profit and reduce the stop on the remaining portion. This strategy aims to create a risk-free trade.
QQQ Elliott Wane Analysis – 10.09.2024 Update



We shared the chart on 10/09/2024, showing the expected price bounce from the blue box. Members have already closed half of their positions for profit and adjusted the rest to breakeven. This allows them to hold the remaining position risk-free until the target is reached. This frees up capital to allocate toward other opportunities. However, if the price turns lower from this point to form a deeper wave 4, we won’t hesitate to buy again. In that case, we will provide an updated chart with a new blue box for members to follow.
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Elliott Wave Suggests Double Correction in META to Provide Buying Opportunity

Short Term Elliott Wave View in META suggests that rally from 7.25.2024 low is in progress as an impulsive structure. Up from 7.25.2024 low, wave (1) ended at 544.23. Wave (2) pullback ended at 495.51 as the 1 hour chart below shows. Up from there, the stock extended higher in wave ((3)) as an impulse. Wave 1 of (3) ended at 527.94 and pullback in wave 2 of (3) ended at 517.11. Stock extends higher again in wave 3 of (3) towards 583.04 and wave 4 of ((3)) ended at 566.4. Final leg wave 5 ended at 602.95 which completed wave (3).

Wave (4) pullback is currently in progress as a double three Elliott Wave structure. Down from wave 93), wave W ended at 581.61 and rally in wave X ended at 592.18. Expect Wave Y to extend lower towards 100% – 161.8% Fibonacci extension of wave W. This area comes at 557.7 – 579.8 where wave Y of (4) should end. From this area, the stock should resume higher again or at least rally in 3 waves. Near term, as far as pivot at 495.51 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

META 60 Minutes Elliott Wave Chart

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META Elliott Wave Video

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Copper Futures (HG_F) Elliott Wave Forecasting the Path

In this technical article we’re going to take a quick look at the Elliott Wave charts of Copper Futures HG_F, published in members area of the website. As our members know, Copper is showing impulsive sequences in the cycle from the 3.9230 low. Consequently we are favoring the long positions at this stage. The commodity has recently given us a 3-waves pull back, when buyers appeared right at the equal legs zone. We are going to explain Elliott Wave forecast further in this article.
Copper H1 Asia Update 10.09.2024
The current view suggests that the Copper commodity is doing a 4 red pullback. Structure of the correction is still incomplete, suggesting more short term weakness. We expect to see another leg down toward equal legs : 4.3758-4.3069 ( buyers zone). Once extreme zone is reached , we expect potential buyers to appear in that area, which could lead to a further rally towards new high or a three-wave bounce at least.
Reminder : You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.




Copper H1 Asia Update 10.12.2024
The commodity made another wave down as we expected. The price has reached the extreme zone at 4.3758-4.3069 area. The commodity found buyers and made a rally from the Equal Legs-Buyers zone, completing pull back at the 4.3729 low. Copper can remain supported as far as the price stays above 4.3729 low.
Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room
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Is Solana (SOL) Ready To Continue Next Rally?

Solana (SOL) is highly functional project that banks on Blockchain technology’s permission less nature to provide the decentralized finance (DeFi) solutions. It was officially launched in March-2020 with the headquarters in Geneva, Switzerland.
Since April-2020 low, SOL:Binance made all time high of $267.52 in November-2021 as (I) impulse sequence. Currently, it favors upside in ((3)) of I after correction of (II) ended at $7.96 low in December-2022 low. It needs to break above November-2021 high to confirm the next bullish sequence.
SOL – Elliott Wave Latest Daily View:




Since April-2020 low, it placed I of (I) at $61.44 high, II at $19.04 low, III at $221.38 high, IV at $115.45 low & V at $267.52 high. After that it corrected lower in (II) as dip pullback in double correction at $7.96 low in December-2022. Within (II), it placed w at $75.34 low, x at $143.17 high & y at $7.96 low.
Above (II) low, it resumed higher in ((1)) of I, which ended at $210.03 high in March-2024. In ((1)), it placed (1) at $26.78 high, (2) at $12.82 low, (3) at $126.35 high, (4) at $78.87 low & finally (5) at $210.03 high as ((1)). It corrected in ((2)) as zigzag correction, which ended at $109.89 low. Within ((2)), it placed (A) at 118.89 low as 5 swings, (B) at $194.07 high as flat & (C) at $109.89 low as ((2)). The zigzag correction missed the extreme areas before turning higher.
Above ((2)) low, it placed (1) at $163.56 high & (2) at $120.40 low. It is choppy at the moment & need to break above (1) high to confirm the next move higher to be (3) to extend towards $174.84 – $208.07 area or higher levels as nest in (3). We like to buy the next pullback in 3, 7 or 11 swings, once it breaks above ((1)) high,. Alternatively, if it breaks below $109.89 low, it can do double in ((2)) correction against December-2022 low.
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.

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XAUUSD Perfectly Reacting Higher From The Blue Box Area

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of the XAUUSD. The rally from the 25 July 2024 low showed a higher high sequence & provided a short-term opportunity at the blue box area. In this case, the pullback managed to reach the blue box area & provided a perfect reaction higher. So, we advised members not to sell Gold but to buy the blue box area for a minimum reaction higher to happen. We will explain the structure & forecast below:
XAUUSD 1-Hour Chart From 10.08.2024 NY Update





Here’s the 1-hour Elliott wave Chart from the 10.08.2024 NY update. In which, the rally to $2685.58 high ended wave 3 & made a pullback in wave 4. The internals of that pullback unfolded as Elliott wave double three structure where wave ((w)) ended at $2624.54 low. Then a short-term bounce to $2673.14 high-ended wave ((x)) & started the next leg lower in wave ((y)) towards $2611.86- $2573.73 equal legs area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.
XAUUSD Latest 1-Hour Chart From 10.14.2024 NY Update





Above is the Latest 1-hour Elliott Wave Chart from the 10.14.2024 NY update. In which the metal is showing a perfect reaction higher taking place from the equal legs area. Right after ending the double correction. Allowed members to create a risk-free position shortly after taking a long position. But a break above $2685.58 high would still be needed to confirm the next leg higher minimum towards the $2705.22- $2737.27 area & avoid double correction lower.
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