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

Elliott Wave Expects Nvidia (NVDA) to Extend Impulsive Rally

Short Term Elliott Wave View in Nvidia (NVDA) suggests that cycle from 9.6.2024 low is in progress as a 5 waves impulse. Up from 9.6.2024 low, wave (1) ended at 127.67. Dips in wave (2) ended at 114.7 as the 1 hour chart below shows. Internal subdivision of wave (2) unfolded as a zigzag Elliott Wave structure. Down from wave (1), wave A ended at 117.72 and wave B ended at 122.44. Wave C lower ended at 114.7 which completed wave (2) in higher degree. The stock has resumed higher in wave (3). Potential target for wave (3) is 100% - 161.8% Fibonacci extension of wave (1). This area comes at 142.2 - 158.6 area.

Up from wave (2), wave 1 ended at 120.83 and wave 2 ended at 116.42. The stock then nested higher with wave ((i)) ended at 124.36 and pullback in wave ((ii)) ended at 121.46. Expect the stock to extend higher to complete wave ((iii)), then it should pullback in wave ((iv)) before it resumes higher again in wave ((v)) of 3. Near term, as far as pivot at 114.7 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

Nvidia 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

NVDA Elliott Wave Video


Source: https://elliottwave-forecast.com/new...pulsive-rally/
Get 14 days Trial --> Click Here

Nasdaq Futures (NQ) Favoring Upside Due to 5 Swing Elliott Wave Sequence

Short Term Elliott Wave View in Nasdaq (NQ) suggests that the Index formed a 5 swing sequence since 8.5.2024 low. Since 5 swing Elliott Wave sequence is a motive sequence, it favors further upside. Up from 8.5.2024 low, wave 1 ended at 20025.25 and pullback in wave 2 ended at 18339.75. Wave 3 higher ended at 20538 and dips in wave 4 ended at 19818 as 1 hour chart below shows. Internal subdivision of wave 4 unfolded as a zigzag Elliott Wave structure. Down from wave 3, wave ((a)) ended at 20056 and wave ((b)) ended at 20331.75. Wave ((c)) lower ended at 19891.58 which completed wave 4 in higher degree.

The Index has turned higher in wave 5 with internal subdivision as a 5 waves impulse. Up from wave 4, wave (i) ended at 20267.25 and pullback in wave (ii) ended at 19902.50. Wave (iii) higher ended at 20482.75 and dips in wave (iv) ended at 20314.75. Final leg wave (v) ended at 20680 which completed wave ((i)) in higher degree. Wave ((ii)) pullback is proposed complete at 20254 with internal subdivision as an expanded flat. Near term, as far as pivot at 19819.58 low stays intact, the Index has scope to extend higher within wave 5.

Nasdaq Futures (NQ) 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

NQ_F Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...wave-sequence/
Get 14 days Trial --> Click Here

Elliott Wave Intraday View in Silver (XAGUSD) Favoring the Upside

Short Term Elliott Wave View in spot Silver (XAGUSD) suggests that rally from 8.8.2024 low is in progress as an impulse. Up from 8.8.2024 low, wave 1 ended at 30.18 and dips in wave 2 ended at 27.69. Wave 3 higher ended at 32.71 and pullback in wave 4 ended at 30.13 with internal subdivision as an expanded Flat structure. Down from wave 3, wave ((a)) ended at 30.86 and wave ((b)) rally ended at 32.95. Wave ((c)) lower ended at 30.1 and this completed wave 4 in higher degree.

The metal has turned higher again in wave 5 with internal subdivision as a 5 waves impulse. Up from wave 4, wave (i) ended at 30.76 and wave (ii) ended at 30.2. Wave (iii) higher ended at 31.3 and pullback in wave (iv) ended at 31.04. Final leg wave (v) ended at 31.62 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) ended at 30.70. Wave ((iii)) is in progress higher and as far as pivot at 30.1 low stays intact, expect short term dips to find buyers in 3, 7, or 11 swing for further upside.

Silver (XAGUSD) 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

XAGUSD Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...voring-upside/
Get 14 days Trial --> Click Here

SPDR Consumer Staples ETF ( $XLP ) Found Buyers At The Blue Box Area.
October 16, 2024 By EWFTaha
Hello everyone. In today’s article, we will look at the past performance of the 4H Hour Elliott Wave chart of SPDR Consumer Staples ETF ($XLP). The rally from 5.31.2024 low unfolded as 5 waves impulse. So, we expected the pullback to unfold in 3 swings and find buyers again. We will explain the structure & forecast below:
5 Wave Impulse Structure + ABC correction

$XLP 4H Elliott Wave Chart 10.03.2024:

Here is the 4H Elliott Wave count from 10.03.2024. The 5 wave impulsive cycle from 5.31.2024 ended on 9.16.2024 at blue (3) and started a pullback. We expected the pullback to find buyers at the blue box area at 81.33 – 80.00 in 3 swings.

$XLP 4H Elliott Wave Chart 10.15.2024:

Here is the latest 4H update from 10.15.2024, showing the bounce taking place as expected. The cycle from the peak at blue (3) has ended and the ETF has reacted higher from the blue box area allowing longs to get risk free. The ETF is expected to remain supported with a target area towards $85 – 87 area before another pullback can happen. Alternatively, the bounce can fail and continue lower in a 7 swings correction so chasing now can be risky. A break of blue (3) high will confirm the next leg higher and negate the possibility of a double correction.

Elliott Wave Forecast
We cover 78 instruments, but not every chart is a trading recommendation. We present Official Trading Recommendations in the Live Trading Room. If not a member yet, Sign Up for 14 days Trial nowand get access to new trading opportunities.
Welcome to Elliott Wave Forecast!
Source:https://elliottwave-forecast.com/stock-market/949454/

AUDUSD Elliott Wave Analysis: short term favors downside from bounces
October 17, 2024 By EWFSanmi
Hello traders, welcome to a new Forex blog post. In this one, we will discuss AUDUSD short-term Elliott wave analysis. We believe the forex pair is still within a bearish corrective cycle from late September 2024. Thus, the current minor bounce should fail at some point, leading to a further intraday sell-off.
From the perspective of Elliott wave theory, price action evolves in a series of 5-waves and 3-waves that depict trend and correction, respectively. The theory also postulates that a trend develops in 5-waves. When a 5-wave sequence is completed, a 3-wave correction should occur against the direction of the trend. These 5-waves and 3-waves combine to form market cycles across all time frames.
A bullish sequence evolved in AUDUSD from the low of August 2024. This sequence completed a 5-wave impulse structure on September 30th. The expectation was that a 3-wave correction to the downside would follow. Meanwhile, corrections can take different forms. However, the most recognizable and tradable are what we call zigzags. Zigzags can either complete a 3, 7, or 11 swing structure, i.e., A-B-C, W-X-Y, or W-X-Y-XX-Z sequences, respectively. When the first sub-structure within the corrective phase is a 5-wave, we often anticipate an A-B-C structure. A-B-C structures are 5-3-5 wave sequences, which we refer to as zigzag patterns.
AUDUSD Elliott Wave Analysis – 10.17.2024 Update

We shared the chart above on 10/17/2024 with Elliottwave-Forecast members, showing the path in the shorter cycles. The chart displays a bearish correction of the bullish sequence from the low of August. The first reaction was a 5-wave down, completing wave (A). With this structure, we can anticipate an A-B-C zigzag pattern involving a 5-3-5 wave sequence. Thus, the price is currently in wave (B) if it extends higher to at least the 23.6% retracement zone at 0.6725. However, if the current bounce ends below 0.6725, then it’s not sufficient for (B). In that case, we could consider it as a new wave 4 of (A) or wave ((ii)) of 5, leading to a further sell-off for wave (A).

On the other hand, if the bounce develops above 0.6725 to qualify for wave (B), we will expect a 3, 7, or 11 swing structure and anticipate where wave (B) should end. At the extreme of (B), we expect new attempts by sellers to push lower below (A) along the path of (C). However, to join the sellers, we would like to confirm the end of wave (B) by waiting for the price to breach the low of wave (A). Afterward, we would sell on bounces in 3, 7, or 11 swing structures, targeting 100% of wave (A) from (B). When it’s time to sell, our members will be alerted in the trading room and by the blue box on our charts. The blue box provides entry and exit prices. Additionally, in the trading room, our analysts share trade management tips for every setup.
About Elliott Wave Forecast
At www.elliottwave-forecast.com, we update one-hour charts four times daily and four-hour charts once daily for all 78 instruments. We also conduct daily live sessions to guide clients on the right side of the market. Additionally, we have a chat room where moderators answer market-related questions. Experience our service with a 14-day trial for only $9.99. Cancel anytime by contacting us at [email protected].
Source:https://elliottwave-forecast.com/for...nside-bounces/

Elliott Wave Intraday View: S&P 500 Futures (ES) Wave 5 In Progress


Short Term Elliott Wave View in S&P 500 Futures (ES) suggests that cycle from 8.5.2024 low is in progress as a 5 waves impulse. Up from 8.5.2024 low, wave 1 ended at 5669.75 and dips in wave 2 ended at 5394. The Index extends higher in wave 3 towards 5830 and pullback in wave 4 ended at 5724. Internal subdivision of wave 4 unfolded as a zigzag structure. Down from wave 3, wave ((a)) ended at 5756.2 and wave ((b)) ended at 5822.50. Wave ((c)) lower ended at 5724 which completed wave 4 in higher degree.

The Index has resumed higher in wave 5. Up from wave 4, wave (i) ended at 5808 and pullback in wave (ii) ended at 5725.25. Wave (iii) higher ended at 5846.50 and pullback in wave (iv) ended at 5811.50. Final leg wave (v) ended at 5918.50 which completed wave ((i)) in higher degree. Correction in wave ((ii)) is proposed complete at 5850 with internal subdivision as a zigzag structure. The Index then resumed higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 5927.25. Near term, as far as pivot at 5724.01 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

S&P 500 Futures (ES) 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

ES_F Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...ve-5-progress/
Get 14 days Trial --> Click Here

Micron Technology Inc (MU) Ended the Cycle from December 2022 Low
October 17, 2024 By EWFLuis
Micron Technology, Inc. (MU) designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.
MU Weekly Chart March 2023

As we see in the chart above, we ended an impulse as wave I at $96.96 high. Then, the market did an expanded flat correction (3-3-5) causing the price to drop to $48.43. We labelled this low as wave II. From here, we expected to continue the rally as long as the price stays above wave II. (If you want to learn more about flat corrections, please follow these links: Elliott Wave Education and Elliott Wave Theory).

MU Weekly Chart July 2024

In July, we adjusted the labels by calling (I) and (II) where waves I and II were on the chart a year ago. As you could see, MU hit the bottom and started a new bullish cycle breaking above $150.00. This generated a return of more than 200% of the capital. We called a wave III of (III) at $157.54 high and wave IV ended at $127.27 low. We expected to trade higher in wave V of (III) to reach the ideal zone of $164.83 – $176.47 where we should see a market reaction.

MU Weekly Chart October 2024


This is the latest update of Micron. Wave IV failed to withstand the market onslaught and broke below $127.27. This ended the cycle that started in December 2022 and we adjusted the movement as wave I of (III) ended at $157.57 high. MU did a bearish impulse ending at $84.12 low and we called it wave ((A)) of II. Currently, it is trading in the corrective wave ((B)). Wave (A) ended at $106.75 high. The correction ended wave (B) at $98.94 low. Now wave (C) has already started a new rally and we expect to reach the $130.03 – $149.15 area to culminate wave ((B)) and turn lower in ((C)). The idea is valid as long as the market stays below $157.57 or above $48.43. If the market breaks above wave I, then wave II is most likely over.
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 24 hours chat room where we will help you with any questions about the market.
Source:https://elliottwave-forecast.com/sto...mber-2022-low/

OIL (CL_F) Selling the Rallies at the Blue Box Area
October 21, 2024 By EWF Vlada
Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of OIL Futures CL_F published in members area of the website. As our members know the commodity has been showing incomplete sequences in the cycle from the 94.63 peak. Recently OIL has given us the recovery that reached our selling zone. The commodity found sellers right at the Blue Box area and made the decline as expected. In the further text we are going to explain the Elliott Wave Forecast and trading strategy.
OIL Elliott Wave H4 Chart 10.05.2024
The commodity is giving us clear 3 waves correction , forming Elliott Wave Zig Zag Pattern. The price has already reached the extreme zone at 74.35-78.91 (Blue Box – sellers zone). We don’t recommend buying OIL 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.

OIL Elliott Wave H4 Chart 10.17.2024

The commodity found sellers at the Blue Box area: 74.35-78.91. We are receiving a good reaction from the selling zone. The decline made has reached and exceeded 50 Fibs against the (b) blued low. 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 OIL 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/com...blue-box-area/

GBPUSD Elliott Wave Double Three Correction in Progress

After forming the low on September 26, 2022 low, GBPUSD shows an incomplete higher high bullish sequence. This suggests the right side is higher and dips therefore should see support in 3, 7, or 11 swing. The pair is currently correcting cycle from 10.4.2023 low. Internal subdivision of the correction is unfolding as a double three Elliott Wave structure. Down from September 26, 2024 peak, wave W ended at 1.3089 and wave X ended at 1.3175 as 1 hour chart below shows.

Pair has resumed lower in wave Y with internal subdivision as a double three in lesser degree. Down from wave X, wave (a) ended at 1.3019. Wave (b) rally ended at 1.31 and wave (c) lower ended at 1.297. This completed wave ((w)) in higher degree. Bounce in wave ((x)) ended at 1.307 with internal subdivision as zigzag. Up from wave ((w)), wave (a) ended at 1.302 and wave (b) ended at 1.297. Wave (c) higher ended at 1.307 which completed wave ((x)). Pair has resumed lower in wave ((y)). Near term, as far as pivot at 1.3175 stays intact, pair has scope to see further downside. Potential support below is at 100% – 161.8% Fibonacci extension of wave W. This area comes at 1.262 – 1.283.

GBPUSD 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

GBPUSD Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...tion-progress/
Get 14 days Trial --> Click Here

TransMedics Group (TMDX): Prepare for a Potential Rally as Elliott Wave Signals a Bullish Move
October 21, 2024 By EWFTaha
Hello Traders! Today, we will look at the Daily Elliott Wave structure of TransMedics Group Inc. (TMDX) and explain why the stock should soon reach a Blue Box area and react higher.
TransMedics Group, Inc., a commercial-stage medical technology company, engages in transforming organ transplant therapy for end-stage organ failure patients in the United States and internationally. The company was founded in 1998 and is headquartered in Andover, Massachusetts.
5 Wave Impulse Structure + ABC correction

TMDX Daily Elliott Wave View October 21st 2024:

The daily chart of TransMedics Group (TMDX) reveals key patterns based on Elliott Wave Theory. This analysis provides a roadmap for traders to plan their next steps effectively.

Breaking Down TMDX’s Recent Price Action
Since the February 2022 low, TMDX has followed a classic 5-wave impulse pattern, indicating a strong trend. Here’s what has happened so far:

1. Wave ((1)) ended on July 19, 2023, marking the first impulse.
2. Afterward, the stock pulled back in a 3-wave correction (ABC), eventually bottoming out at wave ((2)).
3. TMDX then rallied once more, completing wave ((3)) on August 23, 2024.
4. Now, wave ((4)) is in progress, and the price is approaching a potential support area known as the Blue Box, which ranges from $125.11 to $97.78.

The Blue Box: A Key Area to Watch
The Blue Box represents a crucial zone where buyers could step in and start the next rally toward wave ((5)). Typically, corrections occur in 3, 7, or 11 swings, so traders should remain cautious and manage their risk.
Here’s What to Keep in Mind:

1. Stay above the Invalidation Level: As long as the price holds above $97.78, the bullish outlook remains intact. A drop below this level would require a new analysis.
2. Avoid Short Selling: The anticipated decline toward the Blue Box might tempt some to sell, but this carries risks. A truncation could occur, cutting the move short. Instead, watch for signs of a bounce in the Blue Box as a signal for the next rally.

Smart Risk Management
Because the correction could extend into 7 swings, consider taking partial profits on the first bounce. By doing this, you protect some gains and make your remaining position risk-free, setting yourself up for the potential wave ((5)) rally.
Why Elliott Wave Theory Points to a Rally
Elliott Wave Theory helps traders understand market trends and sentiment shifts. In this case, it suggests that once wave ((4)) finishes, TMDX could start a new upward leg, aiming for fresh highs with wave ((5)).
Conclusion
With TMDX nearing a crucial support zone in its Elliott Wave cycle, traders should stay alert for a potential rally. As long as the stock remains above the $97.78 level, the chances of a bullish move increase. Use this analysis to guide your trading strategy and anticipate what’s next.

Elliott Wave Forecast
We cover 78 instruments, but not every chart is a trading recommendation. We present Official Trading Recommendations in the Live Trading Room. If not a member yet, Sign Up for Free 14 days Trial now and get access to new trading opportunities.
Welcome to Elliott Wave Forecast!
Source:https://elliottwave-forecast.com/sto...blue-box-area/

Gold Miners Junior (GDXJ) Impulsive Rally in Progress
October 22, 2024 By EWFHendra
The VanEck Junior Gold Miners ETF (GDXJ) is an exchange-traded fund that aims to replicate the performance of the MVIS Global Junior Gold Miners Index. This index tracks the overall performance of small-capitalization companies primarily involved in mining for gold and silver.
GDXJ Monthly Elliott Wave View
Gold Miners Junior ETF (GDXJ) ended wave ((II)) in grand super cycle degree at 16.14. From there, The ETF is rallying in the form of an impulse. Wave (I) rally ended at 52.5 and dips in wave (II) pullback ended at 19.52. The ETF is rallying higher in wave (III) as a nest. Up from wave (II), wave I ended at 65.95. Wave II pullback ended at 25.80. The ETF should continue to extend higher as far as it stays above 16.14.
GDXJ Daily Elliott Wave View
Daily Elliott Wave Chart of GDXJ shows that wave III rally is in progress as an impulse. Up from wave II, wave ((1)) ended at 41.16 and pullback in wave ((2)) ended at 30.46 with internal subdivision as an expanded flat. The ETF then rallied again in wave ((3)) as a nest. Up from wave ((2)), wave (1) ended at 49.13 and pullback in wave (2) ended at 40.26. The ETF has extended higher again in wave (3). Up from wave (2), wave 1 ended at 48.47 and wave 2 pullback ended at 42.51. Expect the ETF to continue higher within wave (3) of ((3))
GDXJ Elliott Wave Video

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/vid...y-in-progress/

SoFi Technologies (SOFI) Should Continue Short-term Rally
October 22, 2024 By EWFRaj
SoFi Technologies, Inc., (SOFI) provides various financial services in the US, Latin America & Canada. It operates through three segments; Lending, Technology Platform & Financial services. It is based in San Francisco, CA, comes under Financial Services sector & trades as “SOFI” ticker at Nasdaq.
SOFI ended larger weekly correction at $4.24 low in December-2022 & resume higher. It favors upside in ((1)) of III & confirms bullish sequence, when it breaks above July-2023 high.
SOFI – Elliott Wave Latest Daily View:

Since inception, it made all time high of $28.26 in February-2021 & all time low at $4.24 in December-2022. Later, it reacted higher as impulse sequence in I, ended at $11.70 high. So, it expects one more push higher against December-2022 low to be 3 swing bounce. It placed ((1)) of I at $8.24 high, ((2)) at 4.45 low, ((3)) at $10.23 high, ((4)) at $7.71 low & ((5)) as I ended at $11.70 high. Below there, it ended II as zigzag correction at $6.01 low. In II, it placed ((A)) at $6.41 low, ((B)) at $10.49 high, ((C)) at $6.01 low in August-2024 low as II.
Above II low, it starts reacting higher in ((1)) of III. It placed (1) at $8.30 high, (2) at $6.75 low & favors upside in (3). Within (3), it placed 1 at $8.53 high, 2 at $7.57 low, 3 at $10.49 high & 4 at $9.62 low. Currently, it favors upside in 5 towards $10.45 – $11.41 area to finish (3) of ((1)) before correcting in (4). Later, it expects another push higher in (5) to finish ((1)) as 9 swings sequence. Further upside in III will confirm above $11.70 high & can extend towards $13.45 – 18.06 area. In that case, we like to buy the next pullback 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...ortterm-rally/

Ten Year Notes (ZN_F) Ending 5 Waves Elliott Wave Impulse

Short Term Elliott Wave View in Ten Year Notes (ZN) shows that decline from 9.11.2024 high is unfolding as an impulse Elliott Wave structure. Down from 9.11.2024 high, wave 1 ended at 114’07 and wave 2 ended at 115 as the 1 hour chart below shows. The Notes extended lower in wave 3 with internal subdivision as another impulse in lesser degree. Down from wave 2, wave ((i)) ended at 114’07 and wave ((ii)) rally ended at 114’16. The Notes then extended lower in wave ((iii)) towards 112’13 and wave ((iv)) ended at 112’24. Final leg wave ((v)) ended at 111’22 which completed wave 3 in higher degree.

Wave 4 bounce unfolded as a zigzag structure where wave ((a)) ended at 112’11. Wave ((b)) pullback ended at 111’23 and wave ((c)) higher ended at 112’22. This completed wave 4 in higher degree. The Notes has turned lower again in wave 5. Down from wave 4, wave ((i)) ended at 111’29 and wave ((ii)) bounce ended at 112’09. Expect the Notes to extend lower to end wave ((iii)), then it should bounce in wave ((iv)) before turning lower again. As far as pivot at 112’22 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.

Ten Year Notes (ZN) 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

Ten Year Notes (ZN) Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...-wave-impulse/
Get 14 days Trial --> Click Here

META Approaches Risk-Free Area for Buyers. What Next?
October 23, 2024 By EWFSanmi
Hello traders. Welcome to another trading blog post where we discuss trade setups that the Elliottwave-Forecast members took in recent days. In this one, we will discuss the META stock.
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.
META has now gained over 500% in barely two years, making it one of the most profitable stocks. As technical analysts and traders, what’s more interesting about this rally is the clear higher-high and higher-low sequence. Using Elliott wave terminology, this is a clear impulse wave sequence from October 31, 2024. When in a bullish sequence, we like buying pullbacks in 3, 7, or 11 swings. Likewise, when in a bearish sequence, we like selling bounces in 3, 7, or 11 swings. Trading can be that simple. We like keeping it simple using Elliott wave theory.
On October 3, we shared a blog post about the META ‘buy-the-dip’ setups we traded on September 24. From the entry, the stock rallied over 8.5% to reach a new all-time high, and members reached their full targets. Meanwhile, from the new record high, META started another pullback, opening up a new opportunity for our members to go long again. Let’s check the setup.
META Elliott Wave Analysis, 10.22.2024

We identified the October 7 high as wave (3) of the impulse sequence from the July 2024 low. Thus, the pullback that followed was to be wave (4). In addition, the pullback emerged as a 7-swing structure. Therefore, we shared the chart above on October 22, 2024, with members, alerting them of a blue box support for wave (4). The blue box covers the 578.71-565.49 price area. We expected the stock to find support and complete wave (4) within the blue box. As a result, wave (5) should begin, or the price should make at least a 3-swing bounce.

We added a long position from 578.71 with a stop slightly below 565.49 to the trading journal. We intended to close half of the position at the 50% retracement of wave Y of (4).
META Elliott Wave Analysis, 10.22.2024



META reacted perfectly from the blue box, as we expected. We shared the chart above with members on October 23, 2024 — a day after the setup. The first reaction from the blue box is an impulse structure for wave 1 of (5). We expect further rallies from the wave 2 minor dip and then wave 3 to break above into a new record high. Alternatively, a 3 or 7 swing bounce may occur instead. This is why we like to close half of the position in profit and adjust the rest to the last pivot low when the price reaches 50% of the 3rd leg of the pullback, as we have in this case. This way, we can take the risk off the table in case the price is not as ambitious to the upside as we are.
We will continue to monitor the development of META and the other 77 instruments we cover, providing 24-hour updates to members.
About Elliott Wave Forecast
At www.elliottwave-forecast.com, we update one-hour charts four times daily and four-hour charts once daily for all 78 instruments. We also conduct daily live sessions to guide clients on the right side of the market. Additionally, we have a chat room where moderators answer market-related questions. Experience our service with a 14-day trial for only $9.99. Cancel anytime by contacting us at [email protected].
Source:https://elliottwave-forecast.com/sto...rea-what-next/

Elliott Wave View: CADJPY Has Reached Area Where Pullback can Happen

CADJPY has already reached the extreme area from 8.5.2024 low. This suggests that pair is in the zone where it can start to see a pullback soon. Shorter cycle structure however looks incomplete and pair can see further upside a bit more. The rally from 9.30.2024 low is currently in progress as a zigzag Elliott Wave structure. Up from 9.30.2024 low, wave ((a)) ended at 109.82 and pullback in wave ((b)) ended at 107.69. Internal subdivision of wave ((b)) unfolded as a double three structure. Down from wave ((a)), wave (w) ended at 108.02 and wave (x) ended at 109.087. Wave (y) lower ended at 107.7 which completed wave ((b)) in higher degree.

Pair has resumed higher in wave ((c)). Up from wave ((b)), wave (i) ended at 108.97 and pullback in wave (ii) ended at 107.98. Expect 1 more push higher to complete wave (iii), then it should pullback in wave (iv) to correct cycle from 10.21.2024 low in 3, 7, or 11 swing before it resumes higher again. Near term, as far as pivot at 107.7 low stays intact, expect pullback to find buyers in 3, 7, or 11 swing for further upside.

CADJPY 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

CADJPY Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...ck-can-happen/
Get 14 days Trial --> Click Here

Elliott Wave View: 5 Swing Sequence in Bitcoin (BTCUSD) Favors Higher


Short Term Elliott Wave View in Bitcoin (BTCUSD) suggests that rally from 8.5.2024 low is in 5 swing. As 5 swing is a motive sequence, this favors further upside in Bitcoin. 1 hour chart below shows the decline to 58,867 ended wave 2. The crypto-currency has extended higher in wave 3 with internal subdivision as a 5 waves impulse Elliott Wave. Up from wave 2, wave (i) ended at 63,455 and pullback in wave (ii) ended at 62,039. The crypto-currency extended higher in wave (iii) towards 67,922 and pullback in wave (iv) ended at 64,802. Final leg wave (v) ended at 69,487 which completed wave ((i)) in higher degree.

Pullback in wave ((ii)) unfolded as a zigzag Elliott Wave structure. Down from wave ((i)), wave (a) ended at 66,559 and wave (b) rally ended at 67,784. Bitcoin then extended lower in wave (c) towards 65,000 which completed wave ((ii)) in higher degree. The crypto-currency has extended higher in wave ((iii)), but it still needs to break above wave ((i)) at 69,487 to rule out a double correction. Near term, as far as pivot at 58,867 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

Bitcoin (BTCUSD) 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

BTCUSD Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...favors-higher/
Get 14 days Trial --> Click Here

General Electric (GE) Soon Enters Wave ((4)) and Presents Buying Opportunity

General Electric (GE) is a high-tech industrial company founded in 1892 through the merger of Thomas Edison’s Edison General Electric Company and Thomson-Houston Electric Company. GE operates through several key segments, including aerospace, renewable energy, and power. The company designs and produces commercial and military aircraft engines, renewable energy generation equipment, and various power generation systems. In this article and video, we will look at the Elliott Wave technical outlook for the company which will soon present an opportunity to buy the dips.

General Electric (GE) Monthly Elliott Wave Chart



Monthly Elliott Wave View in General Electric (GE) above shows a very nice 7 swing structure pullback. The correction ended at 27.28 on 5.1.2020 low as wave (II). The stock then rallies higher from there in wave (III). Internal subdivision of the rally unfolds as a 5 waves impulse Elliott Wave structure. Up from wave (II), wave ((1)) ended at 72.29 and pullback in wave ((2)) ended at 37.30. The stock has extended higher in wave ((3)) with clear separation (extension). Expect wave ((3)) to end soon and the stock to pullback in wave ((4)) which should give a buying opportunity in 3, 7, or 11 swing.

General Electric Weekly Elliott Wave Chart


Weekly Elliott Wave View on General Electric (GE) above shows that the rally from 5.11.2020 low is in progress as an impulse. Up from there, wave ((1)) ended at 72.29 and wave ((2)) pullback ended at 37.30. The stock has either ended wave ((3)) or expected to end wave ((3)) soon. Either way, a pullback in wave ((4)) is near. The pullback should unfold in 3, 7, or 11 swing before the next leg higher.

General Electric 4 Hour Elliott Wave Chart


4 Hour Chart of General Electric (GE) above shows that the stock is close to ending wave 5 of (5) of ((3)). It either rallies 1 more leg to complete wave ((3)) or wave ((3)) has already ended at the last peak (196.77). Expect pullback in wave ((4)) to happen anytime to correct cycle from July 4, 2022 low. Pullback should unfold in 3, 7, or 11 swing before the next leg higher.

GE Elliott Wave Video


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

ULTA Beauty (ULTA) Should Remain Sideways
October 28, 2024 By EWFRaj
ULTA Beauty, Inc., (ULTA) operates as specialty beauty retailer in the United States. It offers branded & private label beauty products, including cosmetics, fragrance, haircare, skincare, bath & body products, professional hair products, salon styling tools through stores, shop-in-shops, e-commerce websites & mobile applications. It is based in Bolingbrook, IL, comes under Consumer Cyclical sector & trades as “ULTA” ticker as Nasdaq.
ULTA ended impulse sequence as ((I)) in weekly at $574.76 high in March-2024. Below there, it favors pullback in ((II)) as double correction & remain choppy to lower for few months.
ULTA – Elliott Wave Latest Weekly View:

In weekly, it placed (I) of ((I)) at $368.83 high in July-2019 & (II) as zigzag correction at $124.05 low in March-2020. Later, it ended (III) at $556.60 high in May-2023 & (IV) at $368.02 low as around 0.382 Fibonacci retracement of (III) in October-2023. Finally, it ended impulse (V) as impulse ((I)) at $574.76 high as diagonal in weekly. Below there, it favors correction in ((II)) against all time low & expect choppiness before another push lower. Below $574.76 high, it ended (w) of ((II)) at $318.17 low in August-2024. Within (W), it placed a at $375.31 low, b at $421.21 high & c at $318.17 as (w) in double correction.
It is relatively underperforming the US market & so expect another push lower in coming months after (x) ends. Currently, it favors pullback in x against August-2024 low, while placed w at $412 high before resume higher in y. Once it ends (x) in few weeks, it should resume lower in (y) towards 1.0 – 1.618 Fibonacci extension to finish ((II)), where it should see at least 3 swing bounce. We like to buy the next extreme areas in (y) of ((II)). Alternatively, it can be a flat correction in (IV) ended at $318.17 low & resume higher in (V), which later confirms with new high. So, do not like selling it in any pullback.
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...main-sideways/

Elliott Wave View: Nasdaq Futures (NQ) May See Further Upside

Short Term Elliott Wave View in Nasdaq Futures (NQ) suggests the rally from 10.1.2024 low is in progress as 5 waves. Up from 10.1.2024 low, wave ((i)) ended at 20680 as the 1 hour chart below shows. Dips in wave ((ii)) unfolded as a zigzag Elliott Wave structure. Down from wave ((i)), wave i ended at 20525 and wave ii ended at 20666.75. Wave iii lower ended at 20254 and wave iv rally ended at 20398.50. Final leg wave v ended at 20206.25 which completed wave (a). Wave (b) rally ended at 20602.25 and wave (c) lower ended at 20078.55. This completed wave ((ii)) in higher degree.

Index has resumed higher in wave ((iii)) with internal subdivision as an impulse. Up from wave ((ii)), wave i ended at 20428.5 and wave ii ended at 20261.75. Wave iii higher ended at 20707.25 and wave iv pullback is proposed complete at 20460. Near term, as far as pivot at 20078.55 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside. Potential target higher is 100% – 161.8% Fibonacci extension of wave ((i)). This comes at 20942.3 – 21473.1 area.

Nasdaq Futures (NQ_F) 60 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

NQ_F Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...ay-see-upside/
Get 14 days Trial --> Click Here

Elliott Wave View: Apple (AAPL) Looking to End Wave 5


Short Term Elliott Wave View in Apple (AAPL) shows a 5 swing diagonal from 9.16.2024 low. Up from 9.16.2024 low, wave 1 ended at 233.09 and dips in wave 2 ended at 221.15. The stock resumed higher in wave 3. Up from wave 2, wave ((i)) ended at 225.97 and dips in wave ((ii)) ended at 224.22. Stock resumed higher in wave ((iii)) towards 229.75 and pullback in wave ((iv)) ended at 227.12. Final leg wave ((v)) ended at 237.49 which completed wave 3 in higher degree.

Wave 4 pullback unfolded as a double three Elliott Wave structure. Down from wave 3, wave (a) ended at 232.81 and wave (b) ended at 234.44. Wave (c) lower ended at 229.84 which completed wave ((w)). Up from there, wave (a) ended at 234.19 and wave (b) ended at 230.52. Wave (c) higher ended at 237.23 which completed wave ((x)) in higher degree. The stock turned lower in wave ((y)) with internal subdivision as a zigzag. Down from wave ((x)), wave (a) ended at 233.3 and wave (b) ended at 236.85. Wave (c) lower ended at 227.3 which completed wave ((y)) of 4 in higher degree. The stock has turned higher in wave 5. Near term, as far as pivot at 221.1 low stays intact, expect the stock to extend higher.

Apple (AAPL) 45 Minutes Elliott Wave Chart

Attached Image (click to enlarge)

AAPL Elliott Wave Video

Inserted Video

Source: https://elliottwave-forecast.com/new...ng-end-wave-5/
Get 14 days Trial --> Click Here