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Elliott Wave Analysis: GBPUSD Five Swing Advance from May 18 Signals Upside

The short‑term Elliott Wave outlook for GBPUSD indicates that the rally from the March 31, 2026 low is progressing as a five‑wave impulse. From that date, wave 1 concluded at 1.3658, followed by a corrective pullback in wave 2 that ended at 1.33. The pair then advanced in wave 3, establishing a clear impulsive structure. Within wave 1, wave (i) terminated at 1.345, while the subsequent pullback in wave (ii) ended at 1.337. The advance continued with wave (iii) reaching 1.346, before wave (iv) corrected to 1.342. The final leg, wave (v), pushed higher to 1.35, completing wave ((i)).

The correction in wave ((ii)) found support at 1.3367, and the pair has since resumed its upward trajectory in wave ((iii)). This development reinforces the bullish interpretation, as the five‑swing rally from the wave 2 low provides structural confirmation of the trend. From wave ((ii)), wave (i) advanced to 1.348 in a five‑swing sequence, while the corrective wave (ii) ended at 1.34 in a three‑wave pattern.

Near term, as long as GBPUSD remains above 1.33, dips are anticipated to attract buyers. Such retracements are likely to unfold in either three or seven swings, offering opportunities for renewed strength. The overall structure suggests that the pair retains a constructive bias, with higher levels favored as long as the key support at 1.33 holds.

GBPUSD 60-Minute Elliott Wave Chart

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GBPUSD Elliott Wave Video:

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HINDCOPPER Forecast Points to 859–1052 as Wave (5) Begins

Hindustan Copper (NSE: HINDCOPPER) continues to show a strong bullish Elliott Wave structure despite the recent pullback from the February 2026 high. The stock completed wave (2) near 234.52 in September 2025 and then began a powerful rally in wave (3). From that low, price developed a clear five-wave advance and surged into the January-February 2026 peak. Wave (3) extended strongly and topped near the 758 region. Strong buying pressure and bullish momentum supported the advance throughout the rally. The move also formed clean impulsive subdivisions, reinforcing the view that the larger trend remains bullish.
After wave (3) ended, Hindustan Copper entered a corrective phase in wave (4). The decline unfolded as an A-B-C structure and reached a low near the 445 region. Importantly, the correction held within the key Fibonacci support area between 479.35 and 394.70. Buyers quickly stepped in from this zone and triggered a strong rebound. This reaction suggests that wave (4) has likely ended and that the next bullish phase is already underway.
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Following the wave (4) low, Hindustan Copper started a new bullish sequence. The rally from the low appears to have completed wave 1, while wave 2 remains in progress. Once wave 2 ends, the stock should resume higher in wave 3 of (5). This setup is important because it points to more than a short-term bounce. Instead, it suggests the beginning of the final leg higher within the larger bullish cycle that started in June 2022.
Elliott Wave Forecast and Price Targets
From an Elliott Wave perspective, we expect the current wave 2 pullback to finish soon while price remains above 445.70. Once the correction ends, the stock should resume its bullish trend.The minimum target for wave (5) is a break above the previous wave (3) high at 758.85. Such a move would confirm continuation of the larger uptrend.
However, the broader structure suggests significantly more upside. Based on Fibonacci projections and the current wave count, Hindustan Copper could rally toward the 859–1052 area before completing the five-wave cycle from the June 2022 low.
Conclusion
Hindustan Copper remains bullish as wave (4) appears complete at a key Fibonacci support zone. As long as price stays above 445.70, we expect further upside. A break above 758.85 should confirm the next rally, with potential targets in the 859–1052 region.
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ASTS Forecast: Buyers Look To Buy Between $87.04 – $69.44 Area

AST SpaceMobile, Inc., (ASTS) together with its subsidiaries designs & develops the constellation of BlueBird Satellites in the United States. The company provides a cellular broadband network in space to be accessible directly by smartphones for commercial use & other applications for government use. It comes under Technology sector & trades as “ASTS” at Nasdaq.
ASTS favors bullish sequence in weekly started from 4.02.2024 low. It ended (I) at $129.89 high (1.30.2026) & (II) at $63.13 low (5.05.2026). The buyers are looking for pullback into Blue box area for another long set up against May-2026 low.
It made all time low of $1.97 in April-2024 low. Above there, it ended I of (I) at $39.08 high, II at $17.50 low, III at $102.79 high, IV at $49.31 low & V at $129.89 high. Within III, it ended ((1)) at $33.55 high, ((2)) as flat at $18.22 low, ((3)) at $60.95 high, ((4)) at $36.08 low & ((5)) at $102.79 high. Within V, it ended ((1)) at $85.45 high, ((2)) at $61.40 low, ((3)) at $120.80 high, ((4)) at $96.93 low & ((5)) at $129.89 high. Below (I) high, it ended w at $77.17 low, x at $104.15 high as flat & y at $63.13 low in (II) double correction.
ASTS – Elliott Wave Latest Daily View:

Above (II) low, it ended ((1)) of I of (III) at $133.80 high & favors ((2)) correction against 5.05.2026 low. It ended (1) of ((1)) at $75 high, (2) at $64.91 low, (3) at $131.20 high, (4) at $121.05 low & (5) at $133.80 high. Below ((1)) peak, it proposed ended (A) at $105.37 low & (B) at $115.50 high. As long as the bounce fail below $115.50 high, it expects (C) to extend toward $87.04 – $69.44 area to end ((2)) correction. Buyers can enter that area for next leg higher.
ASTS – Elliott Wave Latest 2-hour View: https://elliottwave-forecast.com/wp-...STS-4-hr-1.jpg
There are few possible alternates in ((2)) correction. (1) If it makes a minor low and bounce later to break above $108.75 high. Then it can be (B) bounce, while low will be (A). In that case, it can see another push lower later in (C) to end ((2)). (2) If it breaks above $115.50 high without further extension lower, then it can be truncated in (C) & continue higher in ((3)), which confirms above $133.80 high to rule out double correction.
ASTS is not the part of regular service at EWF. But we provide time to time updates on instruments under blog section. 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. Also, you can check out the Educational section to learn Elliott wave theory & its application through different packages available & 1-1 coaching for doubts.

USDJPY : Moved Lower and Banked +35 Pips +5%

May 28 2026 I posted on social media @AidanFX and entered the sell entry on the USDJPY pair at 159.58 with a tight 7 pip stop loss at 1159.65 and was expecting for a move lower to the 5R target at 159.23.
Sell Trade Setup

1. 1. Price swept the previous day high. (Liquidity Sweep)
2. 2. Price breaks and closes below IFVG. (Gray)
3. 3. Price breaks and closes below trend line.
4. 4. Price pullsback and enters the FVG sell zone. (Purple)

All combined together and I entered the SELL/SHORT trade with confidence.
USDJPY 15 Minute Chart May 28 2026 (Sell Entry)

USDJPY 15 Minute Chart May 28 2026 (Target Hit)
USDJPY moves lower and hits 5R target at 159.23 from 159.58 and I closed sell trade for +35 pips (+5% gain risking 1% on every trade).
A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup. We at EWF never say we are always right. No market service provider can forecast markets with 100% accuracy. Only thing we at EWF 100%, is that we are RIGHT more than we are WRONG.
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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Elliott Wave View: Exxon Mobil (XOM) Rally Eyes $153 Before Renewed Downside Risk

Exxon Mobil (XOM) achieved a historic all‑time high of $176.4 on March 30. Since that peak, the stock has entered a corrective phase, unfolding in a double three Elliott Wave structure. The initial decline, identified as wave ((W)), concluded at $141.97. A subsequent rebound in wave ((X)) reached $163.65 before the downward trend resumed. Price must break below the $141.97 low of wave ((W)) to confirm this bearish view.

Wave ((Y)) is developing as a zigzag formation. From the wave ((X)) high, wave 1 ended at $155.35, followed by wave 2 at $159.39. The third wave extended lower to $145.75, while wave 4 produced a modest rally to $151.17. The final leg, wave 5, terminated at $144.71, completing wave (A) of a higher degree. At present, wave (B) is unfolding as a corrective rally. This move is retracing the cycle from the May 20 high and may take the form of either three or seven swings before the decline resumes.

The potential target for wave (C) can be projected using the Fibonacci extension of wave (A). The 100%–161.8% range lies between $153 and $156, a zone where the rally is expected to encounter resistance. Within this area, the corrective advance may fail, setting the stage for renewed weakness. In the near term, as long as the pivot at $163.65 remains intact, the expectation favors failure of the rally in three, seven, or eleven swings, ultimately leading to further downside.

Exxon Mobil (XOM) 45-Minute Elliott Wave Chart

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XOM Elliott Wave Video:

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Micron Technology (MU) Bullish Path Targets $1400

Micron Technology Inc (NASDAQ: MU) stands as one of the largest semiconductor producers in the USA. It trails only giants like NVIDIA and Intel. In recent months, the stock price doubled to a milestone above $1000. This article explores the bullish Elliott Wave structure behind MU’s upward trajectory. Our analysis highlights potential advances and key targets for investors.
Since its April 2025 low, MU started a new impulsive advance within wave (III). This created a bullish nesting structure. The current rally shows an incomplete sequence within wave ((3)) of III. Therefore, this represents the strongest wave of the entire cycle.
The stock’s initial target sits at the $1159 – $1278 equal legs area. However, this zone will not stop the rally. The full extension comes at the $1472 Fibonacci 1.618 level. MU could face some profit-taking there as the third wave extension ends.
Investors will continue seeking buying opportunities during fourth wave pullbacks. These corrections will appear within daily timeframes.
MU Weekly Chart 6.3.2026

The following video offers a technical outlook for Micron Technology:

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Conclusion
Micron Technology maintains a strong bullish trend. The stock appears ready for additional gains. Consequently, traders should focus on entry points during daily dips.
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Elliott Wave View: QQQ Correcting Cycle from May 18

The Nasdaq 100 ETF (QQQ) established a significant low on March 31, 2026, at $555.55. From this level, the ETF advanced in wave (1), reaching $722.03, before a corrective pullback in wave (2) concluded at $695.25. The subsequent rally unfolded as wave (3), structured as a clear impulsive Elliott Wave sequence. Within this move, wave ((i)) terminated at $706.49, followed by wave ((ii)) at $700.20. Momentum then carried wave ((iii)) to $737.60, before wave ((iv)) corrected to $725.27. The final leg, wave ((v)), extended to $748.65, completing wave 1 of the higher degree cycle.

At present, QQQ is pulling back in wave 2, correcting the cycle from the May 19, 2026 low. This phase has already produced wave ((w)), which ended at $741.01, and a counter‑trend rally in wave ((x)), which peaked at $745.76. Market expectations now center on wave ((y)) finding support between $733.60 and $738.20. Once this support zone is confirmed, wave 2 should conclude, paving the way for the next upward cycle. Near term, the pivot at $695.18 remains critical. As long as this level holds, dips are expected to attract buyers. The correction may unfold in 3, 7, or 11 swings, but the broader structure favors continuation higher once the corrective rhythm stabilizes.

Nasdaq 100 ETF (QQQ) 45-Minute Elliott Wave Chart

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QQQ Elliott Wave Video:

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Apple (AAPL) Elliott Wave: Perfect Reaction From The Blue Box

Hello fellow traders. In this technical article, we are going to present Elliott Wave charts trading setup of Apple Stock (AAPL ). The stock completed its corrective decline precisely at the Equal Legs area, also known as the Blue Box. In the following sections, we’ll break down the Elliott Wave structure in detail and explain the setup and present the target levels.
AAPL Elliott Wave 1 Hour Chart 06.01.2026
The current analysis suggests that Apple stock is forming a wave ((ii)) black pull back. Blue Box, buying zone comes at 307.73-304.33. We recommend members avoid selling Apple stock, 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% fib level against the (x) blue connector, we’ll make positions risk-free, set the stop-loss at breakeven, and book partial profits. Stop Loss is placed a few points below 1.618 fib extension : 304.33
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AAPL Elliott Wave 1 Hour Chart 06.01.2026

The stock found buyers into the Blue Box area, just as expected. AAPL completed correction above the invalidation level and made a decent reaction higher from our buying zone. As a result all long positions are risk free + partial profits have been taken. As long as price holds the pivot at 294.87 , further upside remains likely.
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Warner Bros. Discovery (WBD) Targets Fresh All-Time Highs

Warner Bros. Discovery (NASDAQ: WBD) appears to have completed a significant long-term corrective cycle and is now showing signs of a new bullish trend. The monthly Elliott Wave chart suggests the stock finished a large 3 wave flat correction at the 2024 low near 6.64 in wave II, which now serves as the key invalidation level for the bullish outlook. Following that low, buyers stepped in aggressively and triggered a strong recovery. The reaction from this area supports the view that a major bottom is already in place and that a new impulsive cycle has begun.
From the 2024 low, WBD has started to build a five-wave advance. The initial rally appears to have completed wave (1), followed by a corrective wave (2). The stock is now expected to continue higher in wave (3), which is typically the strongest and most dynamic phase of an Elliott Wave sequence. The projected path on the chart shows a continued advance in wave (3), followed by a pullback in wave (4), and then another rally in wave (5). Together, these waves should complete a larger degree wave ((1)) and confirm that a long-term bullish cycle is underway.


WBD Elliott Wave Forecast
The current structure suggests that the recent recovery is more than a temporary bounce. Instead, it appears to be the beginning of a larger bullish cycle from the wave II low completed in 2024. As long as price remains above 6.64, the bullish count remains valid. The stock should continue forming higher highs and higher lows as wave (3) develops. Any corrective pullbacks in 3, 7, or 11 swings could provide opportunities to join the trend while the larger structure remains intact.
Most importantly, we expect this new bullish cycle from the wave II low to eventually break above the previous all-time high and establish new highs over the coming years. The current advance is viewed as the early stages of that larger recovery, with wave ((1)) expected to lead the stock significantly higher before the next larger correction unfolds.
Conclusion
Warner Bros. Discovery appears to have completed a major correction and started a new bullish Elliott Wave cycle from the wave II low. While price remains above 6.64, we expect further upside within wave (3), followed by wave (4) and wave (5) to complete the larger wave ((1)) structure. Ultimately, this new cycle should lead to a break above the previous all-time high and the creation of new highs in the years ahead.
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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].

Elliott Wave Outlook: S&P 500 (SPX) Extends Impulsive Advance

The S&P 500 (SPX) continues to push into new all‑time highs, advancing in a clear impulsive structure. The current cycle began from the March 30, 2026 low, where wave 1 concluded at 7147.78. A corrective dip followed, with wave 2 ending at 7046.55. From that point, the Index established a nested sequence higher in wave 3. Within this progression, wave ((i)) terminated at 7517.12, while the subsequent pullback in wave ((ii)) found support at 7336.33.

Momentum has since carried the Index higher in wave ((iii)). From the low of wave ((ii)), wave (i) ended at 7620.90, and the retracement in wave (ii) completed at 7523.58. As long as the pivot at 7336.33 remains intact, near‑term pullbacks are expected to hold support. These corrections should unfold in either three or seven swings before the Index resumes its upward trajectory.

However, risk management remains essential. If the pivot from May 19 at wave ((ii)) fails, the implication is that the cycle from the March 30, 2026 low has concluded. In that scenario, the Index would be positioned to correct a larger degree cycle against the March 30 low. Traders should therefore monitor the key levels closely, as the integrity of the impulsive structure depends on the preservation of these pivots.

S&P 500 (SPX) 60-Minute Elliott Wave Chart

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SPX Elliott Wave Video:

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Dell Looking Higher Into the $700.00 Area

Dell Technologies (NYSE: DELL) is a global leader in technology infrastructure, serving enterprises, governments, and consumers through its diversified portfolio of hardware, software, storage, networking, and cloud solutions. Founded by Michael Dell in 1984, the company has evolved from a personal computer manufacturer into one of the world’s leading providers of enterprise technology infrastructure, positioning itself at the center of several long-term growth trends, including artificial intelligence, cloud computing, and data-center expansion.
The company operates through its Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG). While Dell remains one of the world’s largest PC manufacturers, its growing exposure to enterprise servers, storage systems, and AI-optimized infrastructure has become an increasingly important driver of revenue and profitability. The accelerating demand for AI computing power has created significant opportunities for Dell, particularly through its partnerships with companies such as NVIDIA and its expanding portfolio of AI server solutions.
Fundamentally, Dell benefits from a large global customer base, recurring enterprise demand, strong cash flow generation, and a growing presence in high-performance computing markets. As businesses continue investing in digital transformation and AI deployment, Dell is positioned to participate in what many analysts view as a multi-year infrastructure spending cycle.
Dell is currently trading around $423.64 after an impressive rally of more than $300 per share in 2026 alone. Despite the strong advance already seen this year, our Elliott Wave analysis suggests the stock remains within a larger bullish cycle that can support substantially higher prices over the coming months.
At ElliottWave-Forecast.com, we combine Elliott Wave Theory with several proprietary tools to forecast market direction. Our analysis incorporates market correlations, technical indicators, sequence analysis, and High-Frequency areas (Blue Boxes) to identify the highest-probability paths in the market.
Based on the current structure, Dell appears capable of reaching the $700.00 area sometime within the next year or so. The path toward those levels can develop in one of two ways. The first scenario is a traditional five-wave impulsive advance, while the second is a super nest structure, which is often associated with stronger momentum and can lead to even higher prices over time.
The charts below illustrate both Elliott Wave scenarios. The first chart reflects the more traditional five-wave advance. Under this view, Dell is currently proposed to be in wave IV, a corrective phase within the larger bullish cycle. As long as the stock remains supported above key levels, the structure continues to favor additional upside and ultimately a move toward the $700.00 target area. The following chart shows the symbol with the Elliott Wave labels. This first path reflects the natural five-wave advance where the stock is currently correcting in wave IV before resuming higher in wave (V).


The second chart presents the super nest scenario. In this case, Dell would be developing a series of nested impulsive structures that could generate an even stronger acceleration higher. This path would support not only the $700.00 target but potentially much higher levels over time as the bullish sequence continues to extend. The super nest structure can often produce faster and more powerful advances as buyers continue to step into corrective pullbacks.

The following video explains both scenarios in greater detail and highlights why our 3-7-11 buying strategy continues to place investors on the right side of the market. Rather than chasing strength, we prefer to identify corrective pullbacks into High-Frequency areas where risk can be defined and the larger trend can be traded with greater confidence. This methodology has allowed us to remain aligned with the larger bullish trend while identifying the areas where buyers are likely to return.

Magnificent Sevens (MAGS) Ended Cycle from March 30, 2026 Low


The Magnificent Seven ETF (MAGS) tracks the performance of seven leading U.S. technology and growth companies. It offers investors concentrated exposure to some of the market’s most influential names. Since its launch, MAGS has exhibited strong directional moves that lend themselves well to Elliott Wave analysis. It has clear impulsive advances and corrective phases shaping its medium‑term trend structure.
MAGS Weekly Elliott Wave Chart


The weekly Elliott Wave view of the Magnificent Seven ETF (MAGS) shows the initial advance from its all‑time low peaking in wave (I) at $58.69 in December 2024, a move shaped by a five‑wave impulse. That rise was followed by a corrective phase, with wave (II) bottoming at $39 in April 2025. From there, the ETF launched into wave (III) as a nested progression, carrying prices to $69.14 to complete wave I. The subsequent decline in wave II found support at $55.09, setting the stage for another leg higher in wave III. Within this advance, wave ((1)) of III topped at $71.16. A pullback in wave ((2)) is now expected, working off the cycle that began from the March 30, 2026 low, before the broader uptrend resumes.
MAGS Daily Elliott Wave Chart


On the daily Elliott Wave chart of the Magnificent Seven ETF (MAGS), the advance from the April 2025 low carried through to wave I at $69.14. The subsequent decline in wave II found support at $55.04, after which the ETF turned higher into wave III. Within this sequence, wave ((1)) of III peaked at $71.16. The current retreat in wave ((2)) of III is unfolding as a flat correction, working off the cycle that began from the March 30, 2026 low, before the broader upward trend resumes.
AGS is not part of our formal coverage universe. That said, we provide ongoing analysis of most of its underlying constituents, with Broadcom being the sole exception. For continued access to these updates, you can start a 14 days Trial

Technical Analysis Explained: Indicators, Patterns & Strategies

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What Is Technical Analysis?
Technical analysis is a method of evaluating financial markets by studying historical price movements, trading volume, and chart patterns. Unlike fundamental analysis, which focuses on economic and company data, technical analysis aims to identify recurring market patterns that can help traders anticipate future price movements.
Technical analysts believe that market psychology, investor sentiment, and supply-and-demand dynamics are reflected in price action. By analyzing charts and technical indicators, traders attempt to identify potential entry points, exit levels, profit targets, and market trends.
Technical analysis is widely used in stocks, forex, commodities, cryptocurrencies, ETFs, and indices, making it one of the most popular approaches to market forecasting.
The Three Core Principles of Technical Analysis
1. The Market Discounts Everything
Technical analysis assumes that all publicly available information is already reflected in market prices. This includes company earnings, economic news, interest rates, geopolitical events, and investor expectations.
Because of this, technical traders focus primarily on price action rather than external news sources.
2. Prices Move in Trends
One of the most important concepts in technical analysis is that prices tend to move in identifiable trends. Once a trend begins, it is more likely to continue than reverse immediately.
Understanding trend direction helps traders align their positions with prevailing market momentum and avoid trading against strong market movements.
3. History Tends to Repeat Itself
Financial markets are driven by human emotions such as fear, greed, optimism, and panic. Because human behavior remains relatively consistent over time, similar chart patterns and market structures often reappear.
This principle forms the foundation of chart pattern analysis, candlestick analysis, and Elliott Wave Theory.
How Technical Analysis Is Used in Trading
Technical analysis helps traders make objective trading decisions by identifying trends, support and resistance levels, trade setups, profit targets, and risk management levels.
Rather than relying on speculation, traders use technical tools to create repeatable trading plans based on observable market behavior.
Some of the most common uses of technical analysis include:

1. Identifying market trends
2. Finding support and resistance levels
3. Determining trade entries
4. Setting profit targets
5. Managing risk with stop-loss orders
6. Timing trade exits
7. Measuring market volatility
8. Confirming Elliott Wave structures

Types of Technical Analysis
Modern technical analysis consists of several specialized approaches that traders often combine together.
Trend Analysis
Trend analysis focuses on identifying whether a market is moving higher, lower, or sideways. Common tools include Moving Averages, MACD, and trendlines.
Candlestick Analysis
Candlestick patterns provide insights into market sentiment by analyzing individual candles and candle formations such as Doji, Engulfing Patterns, and Pin Bars.
Chart Pattern Analysis
Chart patterns help traders identify potential continuation and reversal opportunities. Common patterns include:

1. Head and Shoulders

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1. Double Top
2. Double Bottom
3. Triangle Patterns
4. Flags and Pennants
5. Wedges

Elliott Wave Analysis
Elliott Wave Analysis is one of the most advanced forms of technical analysis. It classifies market movements into impulse waves and corrective waves to help traders anticipate future market direction.
Because Elliott Wave Theory incorporates market psychology and fractal behavior, it remains one of the most powerful forecasting methodologies available to traders.
Best Technical Indicators Used by Traders
Technical indicators help traders analyze price action from different perspectives.
Some of the most widely used indicators include:

1. Moving Averages (MA)
2. Relative Strength Index (RSI)
3. Moving Average Convergence Divergence (MACD)
4. Bollinger Bands
5. Average True Range (ATR)
6. Stochastic Oscillator
7. On-Balance Volume (OBV)
8. Fibonacci Retracement

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1. Average Directional Index (ADX)
2. Volume Weighted Average Price (VWAP)

Each indicator serves a different purpose, including trend identification, momentum analysis, volatility measurement, and volume confirmation.
Technical Analysis vs Fundamental Analysis
While technical analysis focuses on price action and chart patterns, fundamental analysis evaluates assets based on earnings, economic data, industry performance, and financial health.
Many professional traders combine both approaches to gain a more complete understanding of market conditions.
Frequently Asked Questions
Does technical analysis really work?
Technical analysis does not predict markets with certainty. However, it helps traders identify high-probability scenarios, manage risk effectively, and make objective trading decisions.
What is the best technical indicator?
There is no single best indicator. Many traders combine Moving Averages, RSI, MACD, Fibonacci Retracements, and Elliott Wave Analysis to improve decision-making.
Is technical analysis suitable for beginners?
Yes. Beginners often start with trend analysis, support and resistance levels, candlestick patterns, and basic indicators before progressing to advanced methodologies such as Elliott Wave Theory.
Can technical analysis be used in all markets?
Technical analysis can be applied to stocks, forex, commodities, cryptocurrencies, ETFs, indices, and futures markets.
Conclusion
Technical analysis remains one of the most widely used approaches to market analysis because it provides a structured framework for understanding price behavior, identifying trends, and managing risk.
Whether using simple support and resistance levels or advanced techniques such as Elliott Wave Analysis, traders can improve their decision-making process by combining technical tools with proper risk management and disciplined execution.

Elliott Wave View: Meta Zigzag Pullback Nears Key $522-545 Support Range

The short‑term rally in Meta from the March 27, 2026 low shows impulsive momentum, favoring continued upside while price holds above this pivot. Within Elliott Wave analysis, this advance ended as wave ((1)). The stock is now retracing in wave ((2)), correcting the prior rally. The internal subdivision of this pullback unfolds as a zigzag structure, which is typical in second waves.

From the April 18 high, wave (A) finished at $592.6, followed by a rally in wave (B) that reached $643.87. The decline has resumed in wave (C), which develops as a five‑wave diagonal. The measured target lies between $522 and $545, based on the 100%–161.8% Fibonacci extension of wave (A). Breaking down wave (C), wave 1 ended at $596.14, while wave 2 rallied to $642.4. The subsequent wave 3 decline reached $579.22. A wave 4 rally is anticipated but should fail in either three or seven swings, setting the stage for further downside.

Near term, as long as the pivot at $643.87 remains intact, rallies are expected to fail in corrective sequences. This outlook supports continued weakness toward the projected support zone, where buyers may attempt to stabilize price action.

META Elliott Wave Chart:



META Elliott Wave Video:

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IONQ Pullback Completes — Ready to Resume Bigger Nest?
In this technical post we review IONQ’s recent price action. The quantum computing firm, which develops and manufactures quantum machines, rallied after the September 2025 update. That advance unfolded as a five‑wave structure and has pulled back into the prior Wave I area, which helps validate the next phase. The latest forecast follows.
IONQ Latest Weekly Chart From 6.09.2026


This chart, updated on 09.06.2026, maps the larger Elliott wave sequence from the December 2022 low. The dominant cycle still reads as a three‑wave advance overall, while the rally that began at the December 2022 trough developed as a contracting diagonal composed of five sub-waves. In that sequence Wave I peaked near $21.60, Wave II retraced to about $6.22, Wave III extended to roughly $54.74, and Wave IV corrected down to near $17.88. From there the market pushed to a fresh high around $84.64, completing Wave V and thus the larger degree (I).
Following that top, the market underwent a three‑wave corrective decline that resolved the cycle from December 2022 as Wave (II), finishing at the March 2026 low near $25.89. Since that low, price has staged a strong rebound, yet it still needs to clear the October 2025 peak to validate the next impulsive leg higher. Until that breakout is confirmed, the structure remains constructive but incomplete.
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Cognizant (CTSH) Forecast: Blue Box Support Could Trigger Next Advance to Triple Digits
Cognizant Technology Solutions Corporation (CTSH) provides consulting, technology & outsourcing services in North America, Europe & Internationally. It operates through four segments: Financial services, Health services, Product & resources & Communications, Media & technology. It comes under Technology Sector & trades as “CTSH” ticker at Nasdaq.
CTSH ended ((I)) in monthly Impulse sequence from inception & now correcting in ((II)). Investors should enter between $48.56 – $22.46 area for multi-year rally. Short term, it expects choppy to lower to extend pullback against January-2026 peak.
CTSH – Elliott Wave Latest Weekly View:

In monthly, it started Grand Super Cycle from 1998 low. It ended ((I)) at $93.47 high in March-2022. Within ((I)), it ended (I) at $21.34 high, (II) at $7.19 low, (III) at $85.10 high, (IV) at $40.01 low & (V) at $93.47 high. Within (III), it ended I at $41.74 high, II at $26.77 low, III at $69.35 high, IV at $45.44 low & V at $85.10 high. Below ((I)) peak, it is correcting lower in proposed zigzag correction & expect another push lower into blue box area. Buyers should step in between $48.56 – $22.46 area for next multi -year rally or at least 3 swing bounce.
CTSH – Elliott Wave Latest Monthly View:
It ended (a) of ((II)) at $51.33 low & (b) as double three at $90.82 high in February-2025. Below $90.82 high, it ended I of (c) at $65.52 low, II as flat correction at $87.03 high & III at $45.48 low. Above there, it favors bounce in IV & expect sideways to higher to break above $57.65 high to end it. It is underperforming the $QQQ sector, so possibly it still can extend lower in V of (C) in primary view. But if it starts outperforming the $QQQ then it can be ended ((II)) in double three structure. Investors should get in below $45.48 for next rally with stop below $22.40. Do not like selling it in any pullback as it already reached extremes.
CTSH is not the part of regular service at EWF. But we provide time to time updates on instruments under blog section. 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. Also, you can check out the Educational section to learn Elliott wave theory & its application through different packages available & 1-1 coaching for doubts.

SPDR Industrial ETF (XLI) Calling the Rally After Elliott Wave Double Three Pattern

Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of XLI ETF published in members area of the website. As our members know SPDR Industrial ETF is bullish against the 156.14 pivot in first degree. Recently the ETF made a clear three-wave correction. The pull back completed as Elliott Wave Double Three pattern and made rally as expected.
In this discussion, we’ll break down the Elliott Wave pattern and forecast.
Elliott Wave Double Three Pattern
Double three is the common pattern in the market , also known as 7 swing structure. It’s a reliable pattern which is giving us good trading entries with clearly defined invalidation levels.
The picture below presents what Elliott Wave Double Three pattern looks like. It has (W),(X),(Y) labeling and 3,3,3 inner structure, which means all of these 3 legs are corrective sequences. Each (W) and (Y) are made of 3 swings , they’re having A,B,C structure in lower degree, or alternatively they can have W,X,Y labeling.

XLI Elliott Wave 1 Hour Chart 05.29.2026

XLI is showing 5 waves up from the 168.1 low, suggesting that wave 1 (red), part of the next bullish cycle, has likely ended. Wave 2 (red) is currently in progress. Our analysis suggests that only the first leg of the pullback, wave ((w)) of wave 2 (red), has been completed, unfolding as a double three Elliott Wave pattern.
As our members know, we use the Equal Legs zone to identify the buyers’ area where Wave 2 should complete. We calculate this zone with the Fibonacci Extension tool by projecting the 1.0–1.236 extension of wave ((w)) relative to wave ((x)). In this case, Elliott Wave analysis points to a buyers’ zone around 171.35–170.56.
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Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

XLI Elliott Wave 1 Hour Chart 06.04.2026

The ETF found buyers as expected. XLI has reacted strongly and eventually we got a break toward new highs. Now, intraday pull backs should ideally keep finding buyers as far as 168.1 pivot holds.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

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EURUSD : Sell Target Hit for +45 Pips +2.5%

June 2 2026 I entered the sell entry on the EURUSD pair at 1.1647 with a 18 pip stop loss at 1.1665 and was looking for a move lower to the minimum 3R target at 1.1593.
Sell Trade Setup
1. Price reacts lower from the Weekly and Daily FVG. (Purple zone)
2. Price breaks below bearish CHoCH/Change of Character level. (Black line)
3. Price taps in bearish supply zone and reacts with move lower. (Blue zone)
4. All combined together and entered the SELL/SHORT trade with confidence.
EURUSD 1 Hour Chart June 2 2026


EURUSD 1 Hour Chart June 3 2026
EURUSD moves lower and on June 3rd 2026 price hits 2.5R target at 1.1602 from 1.1647 and I closed sell trade for +45 pips (+2.5% gain risking 1% on every trade)
A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup. We at EWF never say we are always right. No market service provider can forecast markets with 100% accuracy. Only thing we at EWF 100%, is that we are RIGHT more than we are WRONG.
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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CRWD is Correcting the Bullish Cycle Started in 2026

CrowdStrike (CRWD) enters June with momentum still shaped by its strong demand backdrop in cybersecurity and the broader rotation toward high‑quality growth. After its recent earnings beat, the market continues to price in elevated ARR growth and expanding margins, so the key expectation for June is whether buyers defend the current trend despite stretched valuations. Typically, post‑earnings digestion brings a period of consolidation, and June often becomes a “prove‑it” month where the stock either builds a base or extends higher if institutional flows remain supportive.
At the same time, June could bring more volatility as macro data, rate expectations, and tech‑sector sentiment shift week to week. CRWD tends to react strongly to changes in risk appetite, so any uptick in yields or rotation into value could temporarily pressure the stock. However, the underlying narrative, AI‑driven security demand, cloud migration, and enterprise spending resilience, remains intact. In short, expect a choppy but constructive month where the stock can stabilize its uptrend as long as broader tech conditions don’t deteriorate sharply.
Elliott Wave Outlook: CrowdStrike CRWD March 2026 Weekly Chart


Back in March, we noted that the market had reached our projected zone and reacted sharply to the downside. Price completed the ending diagonal as wave (V) and, at the same time, finished the larger leading diagonal as wave ((I)). The immediate correction that followed validated the entire structure and confirmed that the Elliott Wave levels we outlined were accurate.
At that time, we highlighted the need to wait for the next buying opportunity. Since CRWD began correcting a Grand Super Cycle structure, we anticipated a deep and extended pullback. Our ideal target sat near 216, with the possibility of price dipping below 200 before stabilizing. We viewed that region as a potential long‑term accumulation zone, with the broader structure allowing for an eventual advance toward the 1000 area. The plan was simple: let the market develop, allow the correction to mature, and reassess the structure after one quarter to identify new buy signals.
Elliott Wave Principle Behind the Market Structure
Impulse
An impulse is a clean 5‑wave pattern that drives the trend forward.

1. Waves 1‑3‑5 are strong and directional.
2. No overlap between waves 1 and 4.
3. Wave 3 is usually the strongest.
4. Structure is clear, with increasing momentum.

Elliott Wave Outlook: CrowdStrike CRWD June 2026 Weekly Chart

CRWD continues to trade within a constructive Elliott Wave structure on the weekly chart. The broader trend remains bullish while price holds above the 92.82 invalidation level. Recently, the stock appears to have completed wave (I) after a strong impulsive advance. Consequently, the current pullback may represent wave (II), unfolding as an A-B-C corrective structure. The preferred support zone stands between 616 and 511, where buyers may look to re-enter.
Looking ahead, this correction should create the foundation for the next major advance. If CRWD holds the 616–511 support area, wave (III) could begin from that region. That scenario would favor a continuation toward fresh all-time highs. Therefore, the strategy remains focused on buying corrective dips, rather than chasing strength near resistance. However, a break below 92.82 would invalidate the bullish Elliott Wave outlook.
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Silver (XAGUSD) Elliott Wave View: $61.02 Level Holds Key to Potential Bearish Extension

Silver (XAGUSD) is approaching a decisive test as price nears the March 23, 2026 low at $61.02. A break beneath this level could trigger a deeper decline, potentially extending toward the 100% measured move from the January 29, 2026 all‑time high. If the sequence unfolds without truncation, the projected target may reach as low as $38.70.

The decline from the March 2, 2026 high is developing as a double three corrective pattern. Wave ((W)) concluded at $61.02, while wave ((X)) terminated at $89.37. The subsequent wave ((Y)) is unfolding as another double three of lesser degree. From the peak of wave ((X)), wave A ended at $73.81, followed by a rally in wave B that reached $77.51. The market is now extending lower in wave C of (W), which is forming as a five‑wave impulse.

On the hourly chart, wave ((i)) of C ended at $71.75, while wave ((ii)) retraced higher to $77. Wave ((iii)) then drove price down to $66.13, and wave ((iv)) is proposed complete at $69.02. Near term, while price remains below $76.96, rallies are expected to fail in either three or seven swings. This structure suggests that silver retains considerable downside risk, with corrective rallies offering limited relief before the metal resumes lower.

Spot Silver (XAGUSD) 60-Minute Elliott Wave Chart

Attached Image (click to enlarge)

XAGUSD Elliott Wave Video:

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