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PepsiCo Finds Support in the Blue Box – Extended Rally Ahead?
February 22, 2025 By EWFSanmi
Hello traders. Welcome to a new blog post discussing about the blue box. In today’s post, the spotlight will be on the PepsiCo ($PEP) stock price. The stock found support at the extreme last week. What next for traders?
PepsiCo is a global food and beverage company with the headquarters in New York. It was founded in 1965 through the merger of Pepsi-Cola and Frito-Lay. The company operates in over 200 countries and has a diverse portfolio of brands, including Pepsi, Mountain Dew, Lay’s, Doritos, Gatorade, Tropicana, and Quaker.
Despite the sell-off from May 2023, the PepsiCo stock remains within the all-time bullish cycle. Many times, within the bullish sequence, the price pulls back to give buyers the opportunity to buy lower and sell higher for profit. That appears to be the case for $PEP. The decline from May 2025 marked the wave (IV) of the supercycle degree within the bullish cycle from the all-time low. On 16th February 2025, we shared an article titled ”PepsiCo May End The Bearish Cycle From 2023 Soon”. In the article, we used the chart below to identify the extreme area for wave (IV). The blue box on our charts show members where to buy within a bullish sequence and where to sell within a bearish sequence.
PepsiCo Weekly Chart 16th February, 2025

We identified 142.13-116.60 as the blue box where we expected wave (IV) to finish after a 7-swing structure. Afterwards, wave (V) should begin. If not a bullish impulse wave reaction, at least a 3-swing bounce should ensue from this extreme area. The chart below shows the price’s response after about a week.

PepsiCo Weekly Chart 22th February, 2025

The stock found support at the blue box just as expected. Thus, price bounced off the entrance of the blue box – barely at the 142.13 proposed entry level. While price holds above 116.60, it should separate further from the blue box. When the rally reaches 162.53, traders should consider closing half of the trade in profit and adjust the rest of the position to breakeven. Until 162.5, buyers from the blue box should continue to hold the long, while keeping the stop at 116. Therefore, the upside appears to be favored in the short and long terms.

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

BYD Company Limited (1211.HK) Breaking in Wave 3
February 23, 2025 By EWFHendra
BYD Company Limited (ticker: 1211.HK on the Hong Kong Stock Exchange) is a Chinese multinational powerhouse headquartered in Shenzhen. Initially a battery maker, it became the world’s top producer of plug-in electric vehicles by 2022, surpassing Tesla with over 3 million new energy vehicles sold by 2023, thanks to hits like the affordable Dolphin and its innovative Blade Battery. The stock has recently broken to new all-time high within wave III. Below we will take a look at the long term Elliott Wave path.
BYD Monthly Elliott Wave Chart

Monthly Elliott Wave Chart of BYD above shows the stock extends to new all-time high within wave (III). From all-time low, the stock rallied impulsively in 5 waves where wave I ended at 88.4 and pullback in wave II ended at 10.92. The stock then rallied higher in wave III towards 324.6 and pullback in wave IV ended at 165. Final wave V higher ended at 333 which completed wave (I) in higher degree. Pullback in wave (II) ended at 161.7 and the stock is now rallying in wave (III) higher. As far as pivot at 161.7 low holds, expect pullback to find support in 3, 7, 11 swing for more upside.

BYD Daily Elliott Wave Chart

Daily Elliott Wave Chart of BYD above shows the stock is rallying higher within wave (III). Wave (I) ended at 333 and pullback in wave (II) ended at 161.7. Up from there, wave I ended at 280.6 and pullback in wave II ended at 167.80. The stock then resumed higher in a nest. Up from there, wave ((1)) ended at 320.8 and wave ((2)) ended at 245.4. Expect the stock to extend a few more highs to complete wave ((3)), then it should pullback in wave ((4)) to correct cycle from 1.13.2025 low before it resumes higher. Near term, as far as pivot at 161.7 low stays intact, expect pullback to find support in 3, 7, 11 swing for more upside.

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Source:https://elliottwave-forecast.com/sto...eaking-wave-3/

Elliott Wave View: Amazon (AMZN) in Support Zone

Short Term Elliott Wave View in Amazon suggests the stock has reached support zone from 5 February 2025 high in 3 waves. Down from there, wave (A) ended at 221.77. Rally in wave (B) ended at 234.81. Wave (C) lower is in progress with subdivision as a 5 waves impulse. Down from wave (B), wave 1 ended at 228.06 and wave 2 rally ended at 233.92. The stock extended lower in wave 3. Down from wave 2, wave ((i)) ended at 221.81.

Rally in wave ((ii)) ended at 224.06. Stock resumed lower in wave ((iii)) towards 214.74 and wave ((iv)) rally ended at 218.35. Final leg wave ((v)) lower ended at 212 which completed wave 3. Rally in wave 4 is in progress to correct cycle from 11 February 2025 high before it resumes lower. Near term, as far as pivot at 234.89 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside in wave 5 of (C). Pair has currently reached 100% – 161.8% Fibonacci extension from 5 February 2025. This support area is at 200.6 – 213.6 where wave (C) is expected to end and the stock can at least turn higher in 3 waves.

Amazon (AMZN) 30 Minutes Elliott Wave Chart

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AMZN Video

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Source: https://elliottwave-forecast.com/new...-support-zone/
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Elliott Wave View: Bearish Sequence in Nifty Favors Downside

Short Term Elliott Wave View in Nifty shows an incomplete bearish sequence from 9.27.2024 high. Decline from there is unfolding as a zigzag Elliott Wave structure. Down from 9.27.2024 high, wave ((A)) ended at 23263.15 on 11.21.2024 low and wave ((B)) rally ended at 24857.75 on 12.5.2024 high. The extreme target lower for wave ((C)) is 100% – 161.8% Fibonacci extension of wave ((A)). This area comes at 19964 – 21842. Wave ((C)) is currently in progress with subdivision as an impulse Elliott Wave.

Down from wave ((B)), wave (1) ended at 22786.9 and wave (2) rally ended at 23807.3 with internal subdivision as a zigzag. Up from wave (1), wave A ended at 23632.45 and wave B ended at 23222. Wave C higher ended at 23808.27 which completed wave (2) in higher degree. The Index has resumed lower in wave (3). Down from wave (2), wave 1 ended at 22798.35 and wave 2 ended at 23235.5. The Index resumed lower in wave 3. Down from wave 2, wave ((i)) ended at 22725.45 and wave ((ii)) ended at 23049.95. Near term, while below 23808.27, expect rally to fail in 3, 7, or 11 swing for further downside.

NIFTY 45 Minutes Elliott Wave Chart

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Nifty Video

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Source: https://elliottwave-forecast.com/new...vors-downside/
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DKNG Returned Higher After Completing The Pullback
February 26, 2025 By Hassan Sheikh
The Draft Kings, Inc. ticker symbol: DKNG is a digital sports entertainment and gaming company engaged in providing online sports betting. Online casinos, daily fantasy sports product offerings, Draft Kings Marketplace. Retail sports betting, media and other gaming product offerings. consumption. It operates through the following segments: Business-to-Consumer (B2C) and Business-to-Business (B2B). The business-to-consumer segment includes sports betting, iGaming and DFS product offerings, as well as media and other consumer product offerings. The Business-to-Business segment includes the design and development of gaming software.
DKNG Latest Weekly Elliott Wave Analysis From 2.26.2025

As shown in the last article, DKNG ended the wave II pullback at $28.69 low. Up from there, the stock made the rally higher in a nest where wave ((1)) ended at $45.87 high. Wave ((2)) pullback ended at $35.96 low & started the wave ((3)) higher with a break above $49.57 high from March 2024. Supporting more upside extension to take place towards $$68.52- $77.94 target area next. Until than dips are expected to remain supported in 3, 7 or 11 swings looking for more extension higher.

DKNG Weekly Elliott Wave Analysis From 11.29.2024

In weekly the super cycle degree wave (I) ended at $74.38 high and made a 3 wave pullback against all time lows within wave (II). The internals of that pullback unfolded as zigzag correction where wave cycle degree wave a ended at $39.93 low. Wave b bounce ended at $64.58 high and wave c ended at $9.78 low. Thus completed wave (II) pullback. Up from there, the stock made a 5 waves rally & ended cycle degree wave I at $49.57 high. Down from there, the stock made a 7 swings lower pullback and completed wave II pullback at $28.69 low. Near-term, as far as dips remain above $35.96 low and more importantly above $28.69 low expect stock to resume the upside.

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Source:https://elliottwave-forecast.com/sto...ting-pullback/

Elliott Wave View: Amazon (AMZN) Short Term May See Further Upside

Short Term Elliott Wave View in Amazon (AMZN) suggests that rally to 242.52 on 2.5.2025 high ended wave III. The stock then did a double three Elliott Wave correction ((W))-((X))-((Y)). Wave ((W)) ended at 221.77 and wave ((X)) ended at 234.81. Wave ((Y)) lower unfolded as a zigzag Elliott Wave structure. Down from wave ((X)), wave (A) ended at 225 and wave (B) ended at 234.81. Wave (C) lower subdivided into 5 waves impulse.

Down from wave (B), Wave 1 ended at 228.06 and wave 2 ended at 233.92. The stock then resumed lower in wave 3 towards 210.7 and wave 4 ended at 213.18. Final wave 5 lower ended at 204.16 which completed wave (C) of ((Y)) of IV in higher degree as the 30 minutes chart below shows. The stock has turned higher in wave V. Up from wave IV, wave (1) ended at 218.16. Pullback in wave (2) is now in progress to correct cycle from 2.26.2025 low before the stock resumes higher. Near term, as far as pivot at 204.16 low stays intact, expect dips to find buyers in 3, 7, or 11 swing for further upside.

AMZN (AMZN) 30 Minutes Elliott Wave Chart

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Source: https://elliottwave-forecast.com/new...ay-see-upside/
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Elliott Wave View: FTSE Should See More Downside

Short Term Elliott Wave View in FTSE suggests that cycle from 11.13.2024 low is in progress as a 5 waves impulse. Up from there, wave ((i)) ended at 8388.37 and pullback in wave ((ii)) ended at 8002.34. Wave ((iii)) higher subdivided into another 5 waves in lesser degree. Up from wave ((ii)), wave (i) ended at 8326.32 and pullback in wave (ii) ended at 8192.31. Wave (iii) higher ended at 8584.73 and dips in wave (iv) ended at 8462.18 as the 1 hour chart below shows.

The Index then resumed higher. Up from wave (iv), wave i ended at 8692.84 and wave ii pullback ended at 8520.2. Wave iii higher ended at 8767.5 and pullback in wave iv ended at 8685.78. Final leg wave v ended at 8820.93 which completed wave (v) of ((iii)). Pullback in wave ((iv)) is currently in progress as a double three Elliott Wave structure. Down from wave ((iii)), wave (w) ended at 8638.63 and wave ((x)) ended at 8768.05. Expect the Index to extend lower in wave (y) of ((iv)) to reach 8475 – 8587 area before it resumes higher. Near term, as far as pivot at 8818.31 high stays intact, expect rally to fail for further downside.

FTSE 60 Minutes Elliott Wave Chart

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BAC Rebounds From Blue Box, Buyers Hit Easy Target
March 1, 2025 By EWFSanmi
Hello traders. Welcome to another blog post where we discuss recent trade setups from the blue box. In this post, the spotlight will be on the Bank of America, BAC with the ticker $BAC. The stock recently reached the blue box where buyers went long. How did we come about this setup and what should traders expect next?
Bank of America (BAC) is a leading U.S. financial institution, offering banking, wealth management, and corporate finance services. Its stock movements attract traders, making it a key player in market trends. BAC is still recovering from the 2008 financial crisis. After bottoming near $2.50 in May 2009, it has followed a bullish trajectory but has yet to reclaim its pre-crash high of $55 from November 2006. If the price breaks above its January/February 2022 high, a new peak could be within reach.
After recovery from the sell-off between February 2022 and October 2023, the stock has emerged into a clear bullish sequence. This bullish sequence should eventually breach the February 2022 high. Afterwards, a pullback should happen, correcting the entire bullish cycle from March 2009. However, before the expected pullback emerge, it will be interesting to know if the stock will take November 2006 high for a fresh record high. For now, we can at least expect one more 5-wave leg from the low of February 2025.
With this bias, we decided to continue to buy pullbacks in 3, 7 or 11 swing setups until the bullish cycle from March 2009 is exhausted. For Elliottwave-Forecast members, we indicate buying area with the blue box on our charts. On 6th December 2024, I made a post of the last blue box trade on this stock for that year. You can read the post by clicking. Price rebounded from the blue box to reach the expected targets. Meanwhile, shortly after price reached the target, another pullback emerged. We will discuss that below.
BAC Elliott Wave Analysis. 02.27.2025 Update
A new pullback emerged from the high of 01.16.2025 and descended for over five weeks. We discovered a 7-swing corrective structure was emerging. Thus, we printed the blue box on the H4 chart where we advised members to go long at the first price of the box and stop a little below the last price. We shared the chart below on 02.27.2025.

BAC (H4). Note: The higher degree counts have been removed

From the blue box, we expected a 5-wave recovery to challenge and eventually breach the January/February 2022 high around $50. However, if a complete recovery doesn’t follow from the blue box, at least a 3-swing bounce should happen. With the 3-swing bounce, we can close half trade in profit and adjust the rest to breakeven. With that, we take some profit and take risk off the table. The chart below shows what happened next.
BAC Elliott Wave Analysis. 03.01.2025 Update

BAC (H4). Note: The higher degree counts have been removed

The chart above shows a perfect reaction from the blue box where members went long. The sharp reaction shows a 5-wave bullish reaction is more likely to happen than not. However, at least, a 3-swing bounce has evolved above the risk-free price of 45.68. At 45.58, buyers have closed half of their position in profit and adjusted the rest to the breakeven price. This means some profit has been taken, no more risk left and there is a potential to make more profit. The coming days will be important for this stock. If the price completes a 5-wave rally from the blue box, we can reach the other target. Eventually, when the price breaches the January 2025 high, we can wait for the next 3/7/11 swing pullback and alert members to buy again from the blue box.
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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 $0.99. Cancel anytime by contacting us at [email protected].
Source:https://elliottwave-forecast.com/sto...ue-box-buyers/

Coinbase COIN Bullish Setup Suggest At Least +30% Bounce
Coinbase Global (NASDAQ: COIN) lost 43% of it’s value in the recent three months. In today’s article, we’ll demonstrate the Elliott Wave structure taking place within the daily cycle and we will explain the potential reaction higher that we expect to take place.
COIN is currently showing a classical case of an impulsive 5 waves advance, then it’s followed by a corrective 3 waves ZigZag structure.
Impulsive 5 Waves + Corrective ABC

The stock rallied from September 2024 low $146 and ended the 5 waves structure in December 2024 at $352. After that, it started the corrective 3 waves pullback (A)(B)(C) with a target at equal legs area $201 – $132. That is to say, the current decline already reached the blue box area in wave (C) which is a High-frequency area where the market is likely to end the cycle and make a turn.

Consequently, COIN will bounce higher from current levels and will reach at least the 50% of the decline from wave (B). That reaction higher would take the price back initially toward $260 area which is +30% move from current lows. Likewise, if the bounce continues toward the descending trendline then it can do a +50% move higher toward $300.
COIN Daily Chart 3.3.2025

In conclusion, Coinbase stock COIN has a bullish Elliott Wave setup taking place following the current decline. Therefore we only recommend the long side from our Blue Box area as we soon expect a reaction higher to take place this month.

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Gold Miners Junior ETF (GDXJ) Has Resumed the Rally Higher
March 3, 2025 By EWFHendra
The VanEck Junior Gold Miners ETF (GDXJ) tracks small- and mid-cap gold and silver mining companies. Launched in 2009, it invests heavily in firms earning most of their revenue from mining or related activities. It appeals to investors seeking high-risk, high-reward exposure to precious metals. Below we will look at the Elliott Wave outlook of the ETF.
GDXJ Monthly Elliott Wave View
Monthly Elliott Wave Chart of GDXJ shows that the ETF made major low in 2016 at 16.36. We labelled this major bottom as wave ((II)). From there, the ETF rallied higher as a nest. Up from wave ((II), wave (I) ended at 52.5 and pullback in wave (II) ended at 19.52. The ETF nested higher in wave I at 65.95 and pullback in wave II ended at 25.8. Near term, while above 16.36, expect the ETF to extend higher.
GDXJ Daily Elliott Wave View

Daily Elliott Wave Chart of GDXJ shows dips to 25.79 ended wave II. The ETF then turned higher in wave III with internal subdivision as a 5 waves. Up from wave II, wave (1) ended at 41.16, and pullback in wave (2) ended at 30.46. The ETF resumed higher in wave (3) towards 49.13 and pullback in wave (4) ended at 40.26. Final leg wave (5) ended at 55.58 which completed wave ((1)) in higher degree. Pullback in wave ((2)) ended at 41.85 but the ETF needs to break above wave ((1)) to confirm the next leg higher has tarted. Near term, while above 25.75, expect the ETF to extend higher.

GDXJ 4 Hour Elliott Wave View

4 Hour Elliott Wave Chart of Gold Miners Junior ETF (GDXJ) above shows that cycle from 9.26.2022 low ended at 55.62 as wave ((1)). Pullback in wave ((2)) unfolded as a zigzag Elliott Wave structure. Down from wave ((1)), wave (A) ended at 44.11 and wave (B) ended at 51.03. Wave (C) lower ended at 41.88 which completed wave ((2)). The ETF has turned higher in wave ((3)). Up from wave ((2)), wave 1 ended at 53.05 and pullback in wave 2 ended at 47.29. Near term, while above 41.88, expect the ETF to extend higher.

GDXJ Elliott Wave Video

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Source:https://elliottwave-forecast.com/vid...-rally-higher/

Elliott Wave View: Gold (XAUUSD) Turning Higher from Blue Box


Short Term Elliott Wave View in Gold (XAUUSD) suggests that cycle from 12.18.2024 low is in progress as a 5 waves impulse. Up from 12.18.2024 low, wave 1 ended at 2956.15 as the 1 hour chart below shows. Pullback in wave 2 unfolded as a double three Elliott Wave structure. Down from wave 1, wave (a) ended at 2923.8 and wave (b) ended at 2944.93. Wave (c) lower ended at 2888.09 which completed wave ((w)) in higher degree. Rally in wave ((x)) ended at 2930.11 and the metal has resumed lower.

Down from wave ((x)), wave (a) ended at 2867.57 and rally in wave (b) ended at 2887.68. Final leg wave (c) lower ended at 2832.37 which completed wave ((y)) of 2. The metal has turned higher in wave 3. Up from wave 2, wave (i) ended at 2876.9 and wave (ii) ended at 2858.74. Wave (iii) higher ended at 2893.07 and pullback in wave (iv) ended at 2878.11. Expect wave (v) of ((i)) to end soon, then it should pullback in wave ((ii)) to correct cycle from 2.28.2025 low before it resumes higher. Near term, as far as pivot at 2832.3 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

Gold (XAUUSD) 60 Minutes Elliott Wave Chart

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Source: https://elliottwave-forecast.com/new...gher-blue-box/
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EUROSTOXX (SX5E) Made New Highs From Blue Box Area
March 4, 2025 By Hassan Sheikh
In this technical blog, we will look at the past performance of the Elliott Wave Charts of the Eurostoxx (SX5E) index. We presented to members at the elliottwave-forecast. In which, the rally from the 19 November 2024 low is unfolding as an impulse structure. And showed a higher high sequence with a bullish sequence stamp favored more upside extension to take place. Therefore, we advised members not to sell the index & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
EUROSTOXX (SX5E) 1-Hour Chart From 2.27.2025 Update

Here’s the 1-Hour Elliott wave chart from the 2.27.2025 NY Midday update. In which, the cycle from the 2.03.2025 low ended as an impulse structure at 5544.12 high. Down from there, the index made a pullback to correct that cycle. The internals of that pullback unfolded as Elliott wave flat structure where wave ((a)) ended at 5422.86 low. While wave ((b)) bounce ended at 5533.95 high. Then wave ((c)) managed to reach the blue box area at 5412.20 – 5336.12 equal legs area. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

EUROSTOXX (SX5E) Latest 1-Hour Chart From 3.04.2025 Update

This is the latest 1-Hour Elliott wave Chart from the 3.04.2025 Asia update. In which the index shows a reaction higher taking place, right after ending the correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. Since then, the index has already made a new high above 5544.12 high confirming the next leg higher.

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

Is Nu Holdings (NU) Ready For Next Rally ?
March 4, 2025 By EWFRaj
NU Holdings Ltd., (NU) provides digital banking platform in Brazil, Mexico, Colombia, Germany, Argentina, United States & Uruguay. It offers spending solutions comprising credit & prepaid cards, mobile payment solutions & integrated mall that enables customers to purchase goods & services from various ecommerce retailers. It is based in Brazil, comes under Financial services sector & trades as “NU” ticker at NYSE.
As shown in the previous article, NU favored bounce in ((B)), which ended at $14.08 high & resume downside in ((C)). Further weakness will confirm below $10.18 low to extend towards $8.10 or lower levels to finish II.
NU – Elliott Wave Latest Weekly View:

It ended impulse sequence I at $16.15 high from June-2022 low. Within I sequence, it placed ((1)) at $5.88 high & ((2)) at $3.39 low as dip pullback. It ended ((3)) as extended sequence at $13.64 high in July-2024 & ((4)) as sharp pullback at $9.67 low as 0.382 Fibonacci retracement of ((3)). Finally, it ended ((5)) as diagonal sequence from August-2024 low at $16.15 high as I expected from last update.
NU – Elliott Wave Weekly View From 1.20.2025:

Below $16.15 high, it ended ((A)) of II at $10.18 low & ((B)) at $14.08 high on 2.03.2025. Currently, it favors downside in (1) of ((C)) & expect downside before bounce in (2). It needs to break below $10.18 low to confirm the ((C)) down. It expects bounce of (2) to fail below $14.08 high to turn lower in (3). Until it breaks below $10.18 low, it can do flat structure in ((B)), if breaks above $14.08 high. In that case, the extension area for ((C)) will change accordingly. We like to buy the pullback between $8.10 – $4.40 area against June-2022 low to extend higher.
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Source:https://elliottwave-forecast.com/sto...dy-next-rally/

Consumer Discretionary ETF $XLY Blue Box Area Offers A Buying Opportunity
March 3, 2025 By EWFTaha
Hello everyone! In today’s article, we’ll examine the recent performance of Consumer Discretionary ETF ($XLY) through the lens of Elliott Wave Theory. We’ll review how the rally from the August 065 2024, low unfolded as a 5-wave impulse and discuss our forecast for the next move. Let’s dive into the structure and expectations for this stock.
5 Wave Impulse Structure + ABC correction

$XLY 4H Elliott Wave Chart 2.23.2025:


In the 4H Elliott Wave count from February 23, 2025, we see that $XLY completed a 5-wave impulsive cycle beginning on August 05, 2024, and ending on December 18, 2024, at the black ((3)). As expected, this initial wave prompted a pullback. We anticipated this pullback to unfold in 3 swings first, likely finding buyers in the equal legs area between $214.27 and $200.86.
This setup aligns with a typical Elliott Wave correction pattern (ABC), where the market pauses briefly before resuming the main trend.
$XLY 4H Elliott Wave Chart 3.02.2025:

The most recent update, from March 02, 2024, shows that The ETF traded lower as predicted. After the decline from the December peak, the ETF is finding support in the equal legs area, looking for a low.

What’s Next for $XLY?
With the current price action, the ETF appears to be positioned for a bounce. Based on the Elliott Wave structure, we expect the ETF to find a low soon and trade higher, targeting the $226 – $229 range before another potential pullback. Therefore, it is essential to keep monitoring this zone as we approach it.
Conclusion
In conclusion, our Elliott Wave analysis of SPDR Consumer Discretionary ETF ($XLY) suggests that it could bounce in the short term. Therefore, traders should monitor the $226 – $229 zone as the next target, keeping an eye out for any corrective pullbacks. By using Elliott Wave Theory, we can identify potential buying areas and enhance risk management in volatile markets.
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Source:https://elliottwave-forecast.com/sto...g-opportunity/

GOLD (XAUUSD) Elliott Wave: Buying the Dips at the Blue Box Area
March 4, 2025 By EWF Vlada
Hello fellow traders,
As our members know we have had many profitable trading setups recently. In this technical article, we are going to present another Elliott Wave trading setup we got in GOLD (XAUUSD) . The commodity completed its correction precisely at the Equal Legs zone, referred to as the Blue Box Area. In the following sections, we will delve into the specifics of the Elliott Wave pattern observed and discuss the corresponding trading setup in detail.
GOLD Elliott Wave 1 Hour Chart 02.28.2025
The current view indicates that XAUUSD is forming a wave 2 red correction. The price action shows an incomplete sequences in the decline from the peak, suggesting potentially more short term weakness. This correction is likely unfolding as an Elliott Wave Double Three pattern. We anticipate an extension toward the extreme zone at 2862.5–2820.7 area, where we are looking to re-enter as buyers.
We recommend members to avoid selling GOLD. As the main trend remains bullish, we anticipate at least a 3-wave bounce from this Blue Box area. Once the price touches the 50 fibs against the ((x)) black connector, we’ll make positions risk-free and set the stop loss at breakeven and book partial profits. On other hand, breaking below the 1.618 Fibonacci extension level at 2820 would invalidate the trade.
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GOLD Elliott Wave 1 Hour Chart 03.04.2025

The commodity has made extension down toward Blue Box and found buyers as expected. XAUUSD is showing a decent bounce from our Buying Zone. Consequently, any long positions from the Blue Box should now be risk-free. We’ve set our stop loss at breakeven and have already secured partial profits. Now, we would like to see a break of the 1 red peak (02.24) to confirm that the next leg up is in progress.
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Source:https://elliottwave-forecast.com/tra...blue-box-area/

Chevron Corporation (CVX) Poised for Further Gains in Wave (V)
March 4, 2025 By Arman Kumar
Elliott Wave analysis suggests Chevron (CVX) is extending higher in Wave (V), with bullish momentum intact and further upside potential ahead.
Chevron Corporation (CVX) continues to show strong bullish momentum, with the Elliott Wave structure pointing to further upside as Wave (V) unfolds. In the past, the stock completed a major impulsive Wave III, followed by a corrective Wave IV. This correction took the form of a complex ((W))-((X))-((Y)) structure, which helped reset market conditions before the next bullish phase began. The completion of this correction marked a significant low, providing the foundation for a renewed rally.
At present, price action is advancing within Wave (V), which is expected to take the stock to new highs. The internal wave structure aligns with a five-wave impulsive sequence, reinforcing the strength of the ongoing uptrend. Currently, Wave ((3)) is pushing higher, confirming sustained bullish pressure. However, a temporary pullback in Wave ((4)) may develop before the final leg, Wave ((5)), completes the overall move. This short-term correction would provide traders with an opportunity to position themselves before the next major advance.

Elliott Wave Short-Term Outlook:

On the daily timeframe, Chevron (CVX) seems to have completed a corrective pattern. The structure forms a contracting triangle in Wave (4), labeled A-B-C-D-E. This suggests the correction is over, setting the stage for a bullish breakout. The projected path indicates CVX is starting a new impulsive wave higher. This aligns with the broader Elliott Wave count.
A “Turning Up” tag reinforces the bullish outlook. It signals traders should favor long positions as the next rally begins. The invalidation level stands at $51.48. As long as the price stays above this level, further upside is expected in the coming months.

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Source:https://elliottwave-forecast.com/sto...-gains-wave-v/

Elliott Wave View: Nasdaq (NQ) Has Reached Support Area


Nasdaq (NQ) has reached the extreme area from 12.16.2024 peak and thus the Index may see support soon for a 3 waves rally at least. Near term, decline from 2.18.2025 peak is in progress as a 5 waves diagonal. Down from 2.18.2025 peak, wave 1 ended at 22102.75 and wave 2 rally ended at 22299.75. The Index then nested lower in wave 3. Down from wave 2, wave ((i)) ended at 21951 and wave ((ii)) ended at 22245.5. The Index extended lower in wave ((iii)) towards 21652.75 and wave ((iv)) ended at 21813. Final wave ((v)) lower ended at 20990 which completed wave 3 in higher degree.

Wave 4 rally ended at 21409.25. Final wave 5 lower ended at 20460.5 which completed wave (1) of ((C)) in higher degree. Rally in wave (2) ended at 21123.53 and wave (3) lower ended at 20075.25. Rally in wave (4) is proposed complete at 20732.5. Near term, as far as pivot at 21123.53 high stays intact, expect the Index to extend lower in wave (5). The extreme area from 12.16.2024 peak comes at 19452 – 20543 where the current decline can end and the Index can see support.

Nasdaq (NQ) 60 Minutes Elliott Wave Chart

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Source: https://elliottwave-forecast.com/new...-support-area/
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Elliott Wave View Dollar Index (DXY) Nesting Impulsively Lower

Short Term Elliott Wave View in Dollar Index (DXY) suggests the decline from 1.13.2025 peak is taking the form of an impulse with extension (nesting). Down from there, wave 1 ended at 106.97 and rally in wave 2 ended at 109.88. The ETF extended lower in wave 3 which is unfolding in 5 waves in lesser degree. Down from wave 2, wave ((i)) ended at 106.12 as the 1 hour chart below shows. Rally in wave ((ii)) unfolded as a zigzag Elliott Wave structure. Up from wave ((i)), wave (a) ended at 106.79 and pullback in wave (b) ended at 106.16. Rally in wave (c) ended at 107.65 which completed wave ((ii)) in higher degree.

The ETF extended lower in wave ((iii)). Down from wave ((ii)), wave (i) ended at 105.87 and wave (ii) rally ended at 106.38. The ETF extended lower in wave (iii). Expect wave (iv) rally to fail for further downside to complete wave (v) of ((iii)). Potential target lower is 100% – 161.8% Fibonacci extension of wave ((i)). This area comes at 101.59 – 103.9 where wave (v) of ((iii)) should end. Near term, as far as pivot at 107.65 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.

Dollar Index (DXY) 60 Minutes Elliott Wave Chart



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Source: https://elliottwave-forecast.com/new...lsively-lower/
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3M Company (MMM) Elliott Wave Forecast: A New Bullish Cycle Begins
March 6, 2025 By Arman Kumar
After completing a major Wave IV correction, 3M (MMM) is poised for a strong bullish trend as Wave V unfolds. Learn what’s next for the stock.
3M Company (MMM) has experienced a significant corrective phase after completing a major bullish cycle. The long-term Elliott Wave structure suggests that the stock has finished a multi-year Wave IV correction and is now in the early stages of a new bullish cycle within Wave V. This setup indicates the potential for substantial upside over the coming years.
Wave IV Completion and the Start of Wave V
MMM previously completed an extended five-wave impulse sequence, peaking at Wave III. Following this, the stock entered a prolonged corrective phase, labeled as Wave IV. The decline unfolded in a complex corrective pattern, with subwaves ((A))-((B))-((C)) shaping the retracement. This correction has now likely reached completion, setting the stage for a new long-term rally.

The Early Stages of Wave V

After bottoming in Wave IV, MMM has started to build a new impulse structure. The initial advance suggests that Wave ((1)) of the larger Wave V is in progress. In the near term, we may see a minor pullback in Wave ((2)) before the next leg higher resumes. Once Wave ((2)) completes, MMM could accelerate in Wave ((3)), bringing strong bullish momentum.
The “Right Side” tag confirms that the primary trend remains bullish. As a result, we do not recommend selling, even if short-term pullbacks occur. Instead, these retracements could provide strategic opportunities to enter long positions before the next wave of growth unfolds.
Conclusion
The Elliott Wave structure supports a long-term bullish outlook for MMM. While short-term corrections are possible, they are expected to be temporary before higher prices resume. Investors and traders should focus on the larger trend, as the development of Wave V could drive MMM to significant new highs in the coming years.
Source:https://elliottwave-forecast.com/sto...ook-long-term/

Elliott Wave View: Alibaba (BABA) Rallying in 5 Waves

Alibaba (ticker: BABA) started a 5 waves rally from Jan 22, 2024 low. Up from there, wave (1) ended at 116.57 and wave (2) pullback ended at 80.06. Wave (3) higher ended at 145.3 as the 30 minutes chart below shows. Wave (4) pullback unfolded as a zigzag Elliott Wave structure. Down from wave (3), wave ((i)) ended at 138.3 and wave ((ii)) ended at 143.75. Wave ((iii)) lower ended at 128.44 and wave ((iv)) ended at 131.5. Final leg wave ((v)) ended at 127.78 which completed wave A in higher degree.

Wave B rally also unfolded as a zigzag structure. Up from wave A, wave ((a)) ended at 136.66 and wave ((b)) ended at 130.75. Wave ((c)) higher ended at 143 which completed wave B in higher degree. The stock then turned lower in wave C as an impulse. Down from wave B, wave ((i)) ended at 138.29 and wave ((ii)) ended at 142.1. Wave ((iii)) lower ended at 130.14 and wave ((iv)) ended at 135.99. Final leg wave ((v)) ended at 126.1 which completed wave C of (4) in higher degree.

The stock has resumed higher in wave (5) and broken above wave (3) confirming the next leg higher has started. Up from wave (4), wave 1 ended at 146.76. Pullback in wave 2 is now in progress to correct cycle from 3.4.2025 low before the stock resumes higher. Near term, as far as pivot at 126.16 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

Alibaba (BABA) 30 Minutes Elliott Wave Chart



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Source: https://elliottwave-forecast.com/new...lying-5-waves/
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