Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the Daily Elliott Wave Charts of GBPUSD. In which, the rally from 13 January 2025 low is unfolded as impulse sequence & showed a higher high sequence therefore, called for an extension higher to take place. We knew that the structure in GBPUSD should remain supported & extend higher. So, we advised members not to sell the pair & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

GBPUSD Daily Elliott Wave Chart From 11.01.2025​

Here’s the Daily Elliott wave Chart from the 11.01.2025 Weekend update. In which, the rally to $1.3789 high completed wave (3) & made a pullback in wave (4). The internals of that pullback unfolded as Elliott wave double three correction where wave W ended at $1.3142 low. A rally to $1.3726 high-ended wave X bounce. Then started the next leg lower in wave Y towards $1.3082- $1.2683 blue box area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

GBPUSD Latest Daily Elliott Wave Chart From 12.13.2025​

This is the latest Daily Elliott wave Chart from the 12.13.2025 Weekend update. In which the pair is showing a strong 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. However, a break above $1.3789 high is needed to confirm the next extension higher. Towards $1.3972- $1.4270 ( minimum extension target) and avoid deeper correction lower.

Source: https://elliottwave-forecast.com/bluebox-wins/elliott-wave-action-gbpusd-reaction/

 

[Elliottwave-Forecast]

Monthly Elliott Wave analysis shows Wave I nearing completion, key Fibonacci targets ahead, and a corrective pullback before the next major rally.​

United Spirits Limited (NSE: UNITDSPR) continues to trade in a strong long-term bullish Elliott Wave structure on the monthly chart. The broader trend remains positive despite short-term price swings. Since the 2020–2021 period, price action has shifted clearly from correction to impulse. This shift suggests the market has entered a new bullish cycle rather than forming a long-term top.

Impulse Structure and Fibonacci Targets:​

From the Wave IV low, price moved higher in a clear five-wave structure. Waves (1) and (2) set the direction of the trend. Wave (3) followed with strong upside momentum, which is typical in Elliott Wave patterns. Wave (4) is now unfolding as a sideways structure, most likely a contracting triangle. Once this consolidation completes, price is expected to turn higher again in the final Wave (5), targeting key Fibonacci projection levels.

Fibonacci extensions from the earlier impulse define the upside targets. The zone near ₹1,798 represents the 1.236 extension and could acts as a conservative fifth-wave target. A further extension toward ₹1,962 aligns with the 1.618 Fibonacci level. Price may pause or react near these zones as Wave I approaches completion.



Once Wave I finishes, the market should enter a corrective Wave II. Fibonacci retracement analysis points to support near the 0.382 retracement level around ₹1,208. This area also matches prior price structure, which increases the chance of a technical reaction. Such a pullback would remain corrective in nature and would not signal a trend reversal.

The chart clearly states that selling is not recommended. The Right Side Tag remains active and favors the bullish direction. The long-term invalidation level stands much lower near ₹84. As long as price stays above this level, the larger Elliott Wave structure remains valid.

Conclusion:​

In conclusion, United Spirits Limited continues to hold a bullish Elliott Wave setup supported by clear Fibonacci relationships. Short-term corrections may appear, but they form part of a broader upward cycle. The overall structure continues to favor long-term bullish opportunities rather than weakness.

Source: https://elliottwave-forecast.com/st...rits-elliott-wave-analysis-targets-1798-1962/

 

[Elliottwave-Forecast]

Hello everyone! In today’s article, we’ll examine the recent performance of VanEck Gold Miners ETF ($GDX) through the lens of Elliott Wave Theory. We’ll review how the rally from the Nov 2025 low unfolded as a 5-wave impulse followed by a 7-swing correction (WXY) and discuss our forecast for the next move. Let’s dive into the structure and expectations for this ETF.

5 Wave Impulse + 7 Swing WXY correction​

$GDX 1H Elliott Wave Chart 12.09.2025:​

In the 1-hour Elliott Wave count from Dec 09, 2025, we saw that $GDX completed a 5-wave impulsive cycle at red 1. As expected, this initial wave prompted a pullback. We anticipated this pullback to unfold in 7 swings, likely finding buyers in the blue box equal legs area between $78.77 and $75.68.
This setup aligns with a typical Elliott Wave correction pattern (WXY), in which the market pauses briefly before resuming its primary trend.

$GDX 1H Elliott Wave Chart 12.12.2025:​

The update, few days later, from Dec 12, 2025, shows that the ETF bounced and made new highs as expected. Currently, it is looking for support against 12/09 low and higher in wave 3. Longs should be risk free and looking for $96-100 area as the next possible target.

Conclusion​

In conclusion, our Elliott Wave analysis of VanEck Gold Miners ETF ($GDX) suggests that it remains supported against Dec 2025 lows. As a result, traders should keep an eye out for any corrective pullbacks that may offer entry opportunities. By applying Elliott Wave Theory, traders can better anticipate the structure of upcoming moves and enhance risk management in volatile markets.
Source: https://elliottwave-forecast.com/st...gdx-extreme-area-offers-a-buying-opportunity/