Elliottwave-Forecast

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Feb 17, 2017
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HP Inc., (HPQ) provides personal computing & other access devices, imaging & printing products, & related technologies, solutions & services in the United States & internationally. The company operates through three segments: Personal systems, Printing & Corporate Investments. It is based in Palo Alto, California, comes under Technology sector & trades as “HPQ” ticker at NYSE.

HPQ favors correction lower since April-2022 high & expect to remain sideways to lower below $33.90 high in zigzag sequence. It needs to break below $24.07 low of October-2022 to confirm the next move lower.

HPQ - Elliott Wave Latest Daily View:

It made the all time high of $41.47 in April-2022 & starts correcting lower in zigzag correction. It placed a of (II) at $24.07 low in October-2022 low, in which it placed ((1)) of at $30.01 low, ((2)) at $35.32 high, ((3)) at 24.73 low, ((4)) at 27.04 high & ((5)) as a of (II) at $24.07 low. Later, it bounced off in b connector, which ended at $33.90 high as double correction. It placed ((W)) at $31.09 high, ((X)) at $26.09 low & ((Y)) at $33.90 high. Below there, it favors lower in c of (II), which will confirm when it breaks below $24.07 low.

Below b high, it placed ((1)) of c at $25.22 low. Within ((1)), it placed (1) at $32.23 low, (2) at $33.50 high, (3) at $27.85 low, (4) at $30.66 high & finally (5) as extended move at 25.22 low. Currently, it favors bounce in C of (W) of ((2)) & soon expect to fail in (X) connector with small upside follow by another push higher in (Y) to finish ((2)). It expects ((2)) to fail below b high of $33.90 to turn lower in ((3)) of c & remain choppy to lower. It expects c of (II) to extend lower towards $16.47 or lower levels to finish (II) correction before turning higher.

Source: https://elliottwave-forecast.com/stock-market/hpq-favors-weakness-zigzag-correction/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
9
84
www.elliottwave-forecast.com
In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of NZDJPY. In which, the rally from 24 March 2023 low unfolded as an impulse sequence and showed a higher high sequence. Therefore, we knew that the structure in NZDJPY is incomplete to the upside & should 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:

NZDJPY 4-Hour Elliott Wave Chart From 10.23.2023​

NZDJPY Making Strong Comeback From Blue Box

Here’s the 4-hour Elliott wave Chart from the 10/23/2023 update. In which, the rally to 90.20 high ended wave 1 & made a pullback in wave 2. The internals of that pullback unfolded as Elliott wave double three correction where wave ((w)) ended in 3 swings at 87.04 low. Then a bounce to 89.92 high-ended wave ((x)) & started the next leg lower in wave ((y)) towards 86.75- 86 blue box area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

NZDJPY Latest 4-Hour Elliott Wave Chart From 11.05.2023​

NZDJPY Making Strong Comeback From Blue Box

This is the latest 4-hour Elliott wave Chart from the 11/05/2023 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 90.20 high is still needed to confirm the next extension higher & avoid further correction lower. It’s important to note that with further data we have adjusted the degree of the pullback & changed the correction to a flat correction.

Source: https://elliottwave-forecast.com/forex/nzdjpy-making-strong-comeback-blue-box/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
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84
www.elliottwave-forecast.com
Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of Dollar Index ($USDX ) published in members area of the website. As our members know USDX has ended cycle from the 99.5 low as 5 waves structure. We were calling cycle completed at the 107.34 peak. Recently we got short term bounce against that high that has unfolded as Double Three Structure. In further text we’re going to explain the Elliott Wave pattern and forecast

USDX Elliott Wave h4 Chart 10.31.2023​

Dollar is doing short term recovery against the 107.32 peak that is unfolding as a Double Three - 7 swings pattern. Pull back has (W)(X)(Y) blue labeling. The structure is still incomplete at the moment. We expect to see another leg up (y) of ((x)) that can retest 107.32 peak, before decline takes place. 107.32 is the key level to hold for a proposed view. As far as the price stays below that peak we expect to get at least another leg down within proposed correction.

You can learn more about Elliott Wave Double Three Patterns at our Free Elliott Wave Educational Web Page.

USDX

USDX Elliott Wave h4 Chart 11.02.2023​

We got another leg up within ((x)) black recovery. 107.32 peak held well and Dollar found sellers as expected. We are calling ((x)) recovery completed at 107.119 high. As far as the price stays below that high, next technical area to the downside comes at 105.102-103.85



USDX Elliott Wave h4 Chart 11.02.2023​

USDX made decline and the price reached extreme zone from the peak at 105.102-103.85 .Current view suggests that pull back against the 99.5 low can be still in progress, when we are ending first leg W of (2) at the marked zone. Dollar can find buyers soon at 105.102-103.85 for a 3 waves bounce in X red connector.

Keep in mind not every chart is trading recommendation. You can check most recent charts and new trading setups 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.



Source: https://elliottwave-forecast.com/forex/usdx-elliott-wave-forecasting-path/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
9
84
www.elliottwave-forecast.com
Nio Inc. (NIO) is a Chinese multinational automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric vehicles. The company develops battery-swapping stations for its vehicles, as an alternative to conventional charging stations. The company has raised over $5 billions from investors. In 2021, it plans to expand to 25 different countries and regions by 2025.

NIO Daily Chart June 2023

NIO Daily Chart June 2023

Months ago, we saw NIO had been falling since early days of 2021 and it seemed that the correction that we called as wave ((II)) had ended. The chart showed that the price action dropped reaching the blue box (7.05 - 4.80) at 7.00 and rallied. It given us the idea that the big cycle as wave ((II)) had ended and it should continue higher as price stays above 7.00.

NIO Daily Chart November 2023

NIO Daily Chart November 2023

In the chart above, we can see how NIO made a nice rally from the blue box with more than 125% in profits. However, the pullback has been too deep. It still has not broken the low of 7.00, but with the market conditions it is more likely that is going to happen. That is why we adjusted the count and we called wave (c) in blue as an ending diagonal. Wave I of (c) ended at 11.67 low and wave II bounce finished at 24.43. We can see 5 waves down making the wave ((5)) of III an ending diagonal structure completing at 7.33 low. Then, took a part a 3-3-5 flat correction as wave IV ending at 16.18 high.

From 16.18 high, NIO made a strong move to the downside. Wave (1) of ((1)) ended at 9.46 low, then bounced making a zig zag structure finishing wave (2) at 11.35. The momentum continued sending the stock to 7.93 to complete wave (3). A small reaction higher ended wave (4) at 9.22 and continued lower to completed wave (5) of ((1)) at 7.18. This wave ((1)) is the wave ((1)) of V that at the same time is the wave V of (c) of ((II)). Currently, we are expecting to rally in 3, 7 or 11 swings correction to finish wave ((2)) before seeing further downside. The view is valid as price action stays below 16.18 high.

Source: https://elliottwave-forecast.com/stock-market/nio-failed-elliottwave-downside/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
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84
www.elliottwave-forecast.com
Hello Traders! Today, we will look at the Elliott Wave structure of Australian Securities Exchange Ltd (ASX) and explain why more downside can happen before higher soon.

Australian Securities Exchange Ltd (ASX) is an Australian public company that operates Australia's primary securities exchange. The ASX was formed on 1 April 1987, through incorporation under legislation of the Australian Parliament as an amalgamation of the six state securities exchanges, and merged with the Sydney Futures Exchange in 2006. Today, ASX has an average daily turnover of A$4.685 billion and a market capitalization of around A$1.6 trillion, making it one of the world's top 20 listed exchange groups, and the largest in the southern hemisphere.

Third Wave Extension​

ASX

Different Types of Wave Extensions​

ASX

Before we deep dive into the chart, I want to explain that the overall structure looks like a nest. A nest is a series of 1-2. Most of the time a nest happens before a huge move takes place. The chart above shows what a nest looks like.

ASX Monthly Elliott Wave View Nov 06 2023:​

ASX

The Monthly chart above shows the Super cycle from 2009 lows at $3120.80 unfold in a 5 wave diagonal structure suggesting a bullish sequence. The rally peaked on Feb 2020 and started the pullback to correct the 2009 cycle. The pullback found a low in March 2020 at blue (II) and rallied again in 5 waves making a new All Time High in August 2021. This created another bullish sequence against March 2020 lows. The pullback to correct March 2020 is still unfolding in a corrective manner (WXY). We have completed 2 out of 3 legs down and missing the final move lower into a blue box area at $6345.20 - 5589.90 where we expect buyers to enter for a reaction higher and eventually take it to new all time highs again.

Source: https://elliottwave-forecast.com/vi...exchange-ltd-asx-correction-remains-progress/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
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84
www.elliottwave-forecast.com
Hello everyone. In today’s article, we will look at the past performance of the 4H Hour Elliott Wave chart of Invesco Nasdaq ETF ($QQQ). The rally from 10.13.2022 low unfolded as a 5 wave impulse. So, we expected the pullback to unfold in 7 swings and find buyers again. We will explain the structure & forecast below:

$QQQ 4H Elliott Wave Chart 10.26.2023:​

$QQQ

Here is the 4H Elliott Wave count from 10.26.2023. The rally from 10.13.2022 peaked at red I at $388.05 and started a pullback to correct it. We expected the pullback to find buyers at ((W)) in 7 swings at $347.86 – 327.32.

$QQQ 4H Elliott Wave Chart 11.02.2023:​

$QQQ

Here is the 4H update from 11.02.2023 showing the bounce taking place as expected. The ETF reacted higher after reaching the equal legs area allowing longs to get a risk free position. We expect the ETF to continue higher to correct July 2023 peak in 3 swings before resuming the downside.

Source: https://elliottwave-forecast.com/vi...-etf-qqq-reacted-higher-corrective-pull-back/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
9
84
www.elliottwave-forecast.com
DraftKings is an US American daily fantasy sports contest and sports betting company. The company allows users to enter daily and weekly fantasy sports–related contests and win money based on individual player performances in five major American sports, Premier League and UEFA Champions League football, NASCAR auto racing and more. Founded in 2012 and headquartered in Boston, Massachusetts, USA, the stock can be traded under ticker $DKNG at NASDAQ.

DraftKings Weekly Elliott Wave Analysis 11.05.2023​

The Weekly chart below shows the Draftkings shares $DKNG traded at NASDAQ. From the IPO, the stock price has developed an impulse higher in blue wave (I) of a super cycle degree. It has printed the all-time highs on the March 2021 at $74.38. Hereby, red wave III has reached more than 1.618x of the wave I and ending diagonal in red wave V beyond 2.0x of the wave I. From the highs, a correction lower in blue wave (II) has unfolded as an Elliott wave zigzag pattern. Firstly, red wave a has printed a low in May 2021 at $39.93. Secondly, from the low, red wave b reached higher towards September 2021 highs and became a bull trap. Thirdly, from $64.58 highs, red wave c has broken below $39.93 lows. It has reached into 30.09-8.76 bluebox support area.

It is the the preffered view, that correction in blue wave (II) has ended in May 2022. While above 9.77 lows, next bullish cycle in blue wave (III) has started. The target will be towards 84-130 area and beyond. In shorter cycles, red wave I is unfolding as an impulse. While above $25.41 lows, black wave ((5)) of red wave I can extend higher and reach 37-40 area. Then pullback in red wave II should correct part of the rise in the red wave I from May 2022 lows. Investors and traders should be waiting for red wave I to end. Then, pullback in wave II is a buying opportunity in 3, 7 swings against $9.77 lows.

Draftkings Elliott Wave Weekly

Source: https://elliottwave-forecast.com/video-blog/draftkings-opportunity/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
9
84
www.elliottwave-forecast.com
Fortinet Inc (NASDAQ: FTNT) the global leader in cybersecurity is facing some turbulence as it will likely miss Wall Street’s estimate of $5.4 billion for the year.

Despite the good start of year with a +68% rally making new all time highs, the stock erased all those gains in the second half of this year. Let's dive into the technical chart and understand the current Elliott Wave structure taking place.

FTNT Monthly Elliott Wave Chart 11.9.2023​

FTNT Monthly Chart November 2023

The above chart is a representation for the entire Monthly cycle for FTNT. We can see how an impulsive 5 waves rally off the lows ended wave (I). Since the July 2023 peak, the stock started a larger degree correction of the entire cycle and it's looking to unfold as an (abc) Zigzag structure within wave (II). The pullback is still in progress in wave "c" and it's looking for the equal legs area $40.49 - $24.93. Once it reaches that area, the stock will be looking to turn higher from there to resume the bullish trend.

Here is the basic Elliott Wave Theory Pattern



The graph above shows the five waves advance, and each leg subdivides into a lower degree five waves. It is a fractal pattern which repeats in each degree from the Grand Supercycle until the lower degree of the subminute. The chart is clear; each cycle is in five waves, and each pullback in three, but always in the direction of the trend.

In conclusion, the long term technical picture for FTNT remains bullish and investors should be on the lookout for the blue box area as a monthly buying opportunity.

Source: https://elliottwave-forecast.com/stock-market/fortinet-ftnt-new-opportunity-horizon/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
9
84
www.elliottwave-forecast.com
In this technical article we’re going to take a look at the Elliott Wave charts charts of Dollar Index published in members area of the website. As our members know USDX has ended cycle from the 99.5 low as 5 waves structure. We were calling cycle completed at the 107.34 peak. Recently Dollar has reached extreme zone, equal legs area from the 107.34 peak and completed the short term cycle as Elliott Wave Flat.

Before we take a look at the real market example of Expanded Flat, let’s explain the pattern in a few words.

Elliott Wave Expanded Flat Theory​

Elliott Wave Flat is a 3 wave corrective pattern. Inner subdivision is labeled as A,B,C , with inner 3,3,5 structure. Waves A and B have forms of corrective structures like zigzag, flat, double three or triple three. Third wave C is always 5 waves structure, either motive impulse or ending diagonal pattern. It’s important to notice that in Irregular Flat Pattern wave B completes below the starting point of wave A. Wave C ends above the ending point of wave A . Wave C of Flat completes usually between 1.00 to 1.236 Fibonacci extension of A related to B, but sometimes it could go up to 1.618 fibs ext.

You can learn more about Elliott Wave Flat Patterns at our Free Elliott Wave Educational Web Page.

At the graphic below, we can see what Expanded Flat structure looks like
USDX

USDX Elliott Wave h4 Chart 11.04.2023​

Elliott wave view suggests cycle from the 107.34 peak is unfolding as Flat Pattern. We can notice that inner subdivisions of ((a)) and ((b)) black are having corrective sequences. . Wave ((c)) leg should ideally complete as 5 waves soon. Extreme zone, equal legs is already reached at 105.1 area. We expect to see short term bounce in (iv) and another leg down to complete 5 waves in ((c)) wave. We expect Dollar to complete cycle from the peak at 105.1-103.85 area as Flat Pattern. That zone should find buyers for a 3 waves bounce X red.

USDX

USDX Elliott Wave h4 Chart 11.11.2023​

Dollar index made 5 waves down in ((c)) leg and completed Flat Pattern at 104.85 low. Current view suggests we are in X red connector. The price structure shows higher high sequences from the 104.85 low, suggesting we are potentially still in ((c)) of X that can see approximately 106.4-106.6 area.

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.



USDX

Source: https://elliottwave-forecast.com/elliottwave/usdx-elliott-wave-bounce-flat-pattern/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
9
84
www.elliottwave-forecast.com
In the last years, the renminbi made a pause in his attempt to get stronger against USD dollar. In February 2014, renminbi found support at 6.0153 as wave ((III)) and from there it made a perfect zig – zag correction structure to equal legs at 7.1964 in June 2020. After these 3 swings, USDCNH should have continued with the downtrend. However, the pair turning up again breaking 7.1964 high suggesting that market is developing a double correction structure.

USDCNH July 2023 Weekly Chart

USDCNH July 2023 Weekly Chart

The wave "a" began at 6.0153 (2014 low) and moved high in 3 waves structure almost hit 7.00 dollars ending at 6.9854. After this zig zag correction, we have a huge drop to 6.2359 developing a double correction structure to end wave "b". The volatility did not leave things like that an enormous rally took place in the beginning of wave "c". This movement built again 3 waves higher completing wave "c" at 7.1974 and also wave (w) reaching the 100% Fibonacci extension.

Down from (w), we could see that an expanded flat correction took place as wave (x) finishing as an ending diagonal at 6.3058 low. Then again a strong rally took a part. This move higher looks like an impulse and we labeled as wave "a" ended at 7.3748 above wave (w) confirming a corrective bullish sequence. Then USDCNH made a wave "b" ended at 6.6883 and bounced in the last leg higher.

USDCNH November 2023 Weekly Chart

USDCNH November 2023 Weekly Chart

In the chart above, looks like the first leg of the wave "c" ended as wave ((1)). Up from 6.6883 low, we can see 5 swings higher creating an impulse. First wave ended at 6.9967. Wave (2) pullback at 6.8107 low. Then USDCNH rally finishing wave (3) at 7.2855. Wave (4) correction completed at 7.1162 low. Last push to 7.3679 ended wave (5) and wave ((1)). Currently, we are expecting a correction as wave ((2)) of "c". This movement should drop to 7.12 - 6.95 area correlating with USDX weakness that we are looking for. After finishing wave ((2)), pair should rally in 3 swings to build an impulse as wave "c" to 7.4866 - 7.7646 area. This also will finish the double correction wave (y), and the wave ((IV)) before renminbi continues with the downtrend.

Source: https://elliottwave-forecast.com/forex/renminbi-usdcnh-pullback-coming-upside/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
9
84
www.elliottwave-forecast.com
Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of Tesla Inc. ($TSLA). The rally from 10.31.2023 low unfolded as a 5 wave impulse. So, we expected the pullback to unfold in 3 swings (ABC) and find buyers again. We will explain the structure & forecast below:

$TSLA 1H Elliott Wave Chart 11.10.2023:​

$TSLAHere is the 1H Elliott Wave count from 11.10.2023. The 5 waves rally from $193.86 peaked at blue (A) and started a pullback to correct it. We expected the pullback to find buyers at (B) in 3 swings at $212.13 – 204.70.

$TSLA 1H Elliott Wave Chart 11.12.2023:​

Here is the 1H update from 11.12.2023 showing the bounce taking place as expected. The stock reacted higher after reaching the equal legs area allowing longs to get a risk free position. We expect the stock to continue higher towards 238 – 258 before a pullback can happen. Alternatively, if the stock is unable to break above $227 at blue (A) then a double correction lower can happen (WXY) before higher.

Source: https://elliottwave-forecast.com/stock-market/tesla-inc-tsla-reacting-higher-extreme-area/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
9
84
www.elliottwave-forecast.com
In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of the Nifty index. We presented to members at the elliottwave-forecast. In which, the rally from the 17 June 2022 low is unfolding as an impulse structure. Showing a higher high sequence 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:

Nifty 4-Hour Elliott Wave Chart From 10.26.2023​

Nifty Producing Strong Reaction Higher From Blue Box Area

Here’s the 4-hour Elliott wave chart from the 10/26/2023 update. In which, the cycle from the 9/30/2022 low ended in a bigger wave (3) as an impulse structure at 20222.45 high. Down from there, the index made a pullback in wave (4) to correct that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where wave A ended at 19333.60 low. While wave B bounce ended at 19849.75 high. Then wave C managed to reach the blue box area at 18950.38- 18392.91. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

Nifty Latest 4-Hour Elliott Wave Chart From 11.13.2023​

Nifty Producing Strong Reaction Higher From Blue Box Area

This is the latest 4-hour Elliott wave Chart from the 11/13/2023 update. In which the index shows a reaction higher taking place, right after ending the zigzag 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 the 20222.45 high is still needed to confirm the next extension higher & avoid a double correction lower.

Source: https://elliottwave-forecast.com/stock-market/nifty-producing-strong-reaction-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
9
84
www.elliottwave-forecast.com
Platinum (PL) may have ended the correction to the cycle from 9.1.2022 low and in the early stage of turning higher. If the pivot on September 2022 low at 796.8) breaks, it suggests a bigger correction against March 2020 low within wave (II) which is not our primary view at the moment. In the higher time frame, the metal is in a bullish grand super cycle move higher against March 2020 low.

Platinum (PL) Monthly Elliott Wave Chart​



Monthly chart of Platinum above shows that the metal ended wave ((II)) at 562 during the Covid-19 crash. It has since turned higher in wave ((III)). Up from wave ((II)), the rally is in progress as an impulse. Wave (I) of ((III)) ended at 1348.2 while dips in wave (II) of ((III)) ended at 796.8. The metal has since turned higher in wave (III). Up from wave (II), wave ((1)) ended at 1148.9 and dips in wave ((2)) might have ended at 843.1. The metal can be in the early stage of the next leg higher.

Platinum (PL) Daily Elliott Wave Chart​

Platinum Elliott Wave Chart

Daily chart of Platinum above shows that the metal ended wave (II) at 796.8 and turned higher in wave (III). Up from wave (II), wave ((1)) ended at 1148.9 and dips in wave ((2)) ended at 843.1. Expect the metal to extend higher while it stays above 796.8 in the first degree. If the metal breaks below 796.8, then it will do a double correction against March 2020 low at 562.

Source: https://elliottwave-forecast.com/commodities/platinum-pl-ended-correction-turning-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
9
84
www.elliottwave-forecast.com
In this article we’re going to take a quick look at the Elliott Wave charts of Bitcoin BTCUSD published in members area of the website. As our members know BTCUSD is showing impulsive bullish sequences in the cycle from the 24955.26 low that were calling for a further strength. Recently we got a pull back that has ended at the Blue Box zone,our buying area. In the further text we are going to explain the Elliott Wave Forecast and trading setup.

BTCUSD Elliott Wave 1 Hour Chart 11.04.2023​

BTCUSD is giving us correction that is unfolding as a Zig Zag pattern. At the moment structure is still incomplete. Bitcoin can see more downside toward 35173.76-33717.907 blue box ( buying zone). We don’t recommend selling Bitcoin and prefer the long side. From the marked zone, BTCUSD should ideally make either rally toward new highs or in 3 waves bounce alternatively. Once bounce reaches 50 Fibs against the (b) blue high 37547, we will make long position risk free ( put SL at BE) and take partial profits.

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.

Quick reminder on how to trade our charts :

Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.

BTCUSD

Bitcoin ( BTCUSD ) Elliott Wave 1 Hour Chart 4.14.2023​

BTCUSD made extension toward our buying zone : 35173.76-33717.907. Bitcoin found buyers at the blue box as expected and we got good reaction from there , 5 waves impulsive rally that retested previous peak. Currently doing short term pull back against the 34805.11 low that can see approximately 36506-35663 area. As far as the pivot at 34805.11 low holds, we can see further rally once short term pull back completes.

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

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.



Source: https://elliottwave-forecast.com/trading/bitcoin-btcusd-buying-blue-box-area/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,385
9
84
www.elliottwave-forecast.com
Unilever is a multinational consumer goods corporation. Unilever products include food, condiments, ice cream, coffee, cleaning agents, pet food, beauty products, personal care and more. Founded 1919 by the merger of the Dutch margarine producer Margarine Unie and the British soapmaker Lever Brothers, it is headquartered in London, UK. Unilever is a part of FTSE 100, AEX and Eurostoxx 50 indices. Investors can trade it under the tickers $ULVR at LSE, $UNA at Euronext Amsterdam and under $UL at NYSE. Corporation Unilever owns over 400 brands. Among them, the trademarks like Dove, Omo/Persil, Knorr, Lipton, Magnum, Rexona/Degree and others. The company products are present in 190 countries.

The stock price of Unilever is in a permanent rally from the all-time lows. From march 2020 bottom, one can see a new cycle higher. This might be the final push higher within the larger cycle. Once ended, Unilever should pull back against the all-time lows which will provide again an opportunity to join the success story of Unilever stock price action.

In the initial article from October 2021, we have provided with an area where investors can join the rally. As a matter of fact, the price made a dip into 40.36-38.42 area and reacted higher. In the last article from February 2023, we have explained that short term pullbacks should find support in 3, 7 swings. Now, we recognize the overall structure as a bullish triangle. Once ended, a thrust higher should take place.

Unilever Monthly Elliott Wave Analysis 11.14.2023​

The monthly chart below shows the Unilever shares $UNA traded at Euronext Amsterdam. From the all-time lows, the stock price is within the larger impulse as wave ((I)). Hereby, Unilever has finished the waves (I)-(III) by printing the all-time high on September 2019 at 57.77. Within the impulsive advance in wave (III), the internals I and III are impulsive waves, too. From the September 2019 highs, a correction lower in wave (IV) is unfolding as a bullish triangle being 3-3-3-3-3 structure. Once ended, expect thrust higher in blue wave (V). The target for wave (V) is 62.33-69.72 area.

Unilever Elliott Wave Monthly

Unilever Weekly Elliott Wave Analysis 11.14.2023​

The Weekly chart below shows the $UNA shares price action in more detail. In particular, it demonstrates the converging price action within a blullish triangle. Firstly, 3 swings lower of red wave a have ended on March 2020 at 38.42 lows. Secondly, a bounce in 3 swings of red wave b have set a lower high in December 2020 at 53.66. Thirdly, 7 swings (= 3 swings) of red wave c have printed a higher low in March 2022 at 39.36. Fourthly, 7 swings of red wave d have accomplished in April 2023 at 50.93 lower peak. Finally, red wave e is unfolding in another 7 swings and should find support above 39.36 lows. Then, blue wave (IV) should end and a rally towards new all-time highs should take place.

Investors and traders can be looking to buy $UNA in 7 swings against 39.36 lows targeting 62.33-69.72 area and even higher in the medium-term.

Unilever Elliott Wave Weekly

Source: https://elliottwave-forecast.com/stock-market/unilever-thrust-bullish-triangle/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Amid the global momentum toward sustainable energy, Constellation Energy (CEG) stands out as a dynamic player in the renewable sector. In this article, we explore CEG’s recent performance, analyze its technical structure, and highlight its promising potential for further growth.

Following its spinoff from Exelon Corporation (EXC) on February 1, 2022, Constellation Energy Corporation (CEG) commenced trading as an independent entity. Since then, CEG has actively participated in the stock market, experiencing a remarkable 160% increase.

CEG Elliott Wave Weekly Chart 11.17.2023​

CEG Weekly Chart 11.17.2023

The stock rally, which has been unfolding since last year, follows an impulsive structure. Currently, it remains within wave III, targeting the equal legs area between $130 and $145. Anticipate a 3-wave pullback in wave IV before another upward rally to complete wave V of wave (I).

The bullish structure is anticipated to provide support for the stock during the upcoming daily correction wave (II). This correction phase ideally presents a buying opportunity for long-term investors, as the stock is poised to resume its trend within another impulsive rally.

In summary, Constellation Energy Corporation (CEG) leads the charge in the renewable energy revolution. Its spinoff from Exelon Corporation (EXC) was a pivotal moment, propelling the stock into impulsive waves. Investors should keep an eye out for buying opportunities during corrective phases. With unwavering commitment to clean energy and a dynamic market presence, CEG shines as a beacon for long-term growth in our ever-evolving energy landscape.

Source: https://elliottwave-forecast.com/stock-market/constellation-energy-ceg/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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The Global X Uranium ETF (URA) is an exchange-traded fund (ETF) that focuses on companies in the uranium industry. ETFs are investment funds that trade on stock exchanges. They typically aim to track the performance of a specific index or sector. URA provides investors with exposure to companies involved in the exploration, mining, and processing of uranium. This can include uranium miners, nuclear power plant operators, and companies involved in the production of nuclear fuel.

$URA Elliott Wave Chart Monthly Chart​



Uranium ETF (URA) Monthly Chart shows that it ended wave ((II)) at 6.95. Up from wave ((II)), wave I ended at 31.6 and pullback in wave II ended at 17.65. It has turned higher and about to break above wave I which should validate the bullish view and opens a bullish sequence from March 2020 low. Break above wave I should open up more upside to 100% - 161.8% Fibonacci extension of wave I towards 42.5 - 57.9 area.

$URA Daily Elliott Wave Chart​



In Daily Elliott Wave Chart of $URA above, the ETF has ended wave (2) at 18.33 and turns higher in wave (3). Internal subdivision of wave (3) is unfolding as a nest. Up from wave (3), wave 1 ended at 21.12 and dips in wave 2 ended at 18.97. The ETF extends higher again in wave 3. Up from wave 2, wave ((i)) ended at 23.25 and pullback in wave ((ii)) ended at 20.32. The ETF extended higher in wave ((iii)) towards 28.42 and pullback in wave ((iv)) ended at 24.45. Expect the ETF to extend higher and dips to find support in 3, 7, or 11 swing against 18.33 low.

Source: https://elliottwave-forecast.com/stock-market/uranium-etf-ura-bullish-cycle-progress/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of VanEck Gold Miners ETF ($GDX). The rally from 10.04.2023 low unfolded as a 5 wave impulse. So, we expected the pullback to unfold in 3 swings and find buyers again. We will explain the structure & forecast below:

$GDX 1H Elliott Wave Chart 11.14.2023:​

$GDXHere is the 1H Elliott Wave count from 11.14.2023. We expected the pullback to find buyers at (2) in 3 swings (ABC).

$GDX 1H Elliott Wave Chart 11.19.2023:​

$GDXHere is the 1H update from 11.19.2023 showing the bounce taking place as expected. The ETF reacted higher after reaching the equal legs area from 10.20 peak allowing longs to get a risk free position. We expect the ETF to continue higher as long as $27.01 remains intact.
Source: https://elliottwave-forecast.com/st...s-etf-gdx-keeps-finding-buyers-extreme-areas/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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84
www.elliottwave-forecast.com
The Travelers Companies, Inc., TRV, is an American insurance company. It is the second-largest writer of U.S. commercial property casualty insurance, and the sixth-largest writer of U.S. personal insurance through independent agents.

Weekly TRV Chart July 2023

Weekly TRV Chart July 2023

TRV ended a great super cycle in the year of 2019 reaching a peak at $154.86 which we call the wave ((I)). Then the market made a quick and strong correction driven by the COVID19 pandemic in 2020. The company lost 50% of its value reaching $76.99 per share in March. This culminated wave ((II)) and we are currently building wave ((III)). Wave (I) of ((III)) ended at $194.51 in January 2023 building an impulse and it has been correcting in wave (II) of ((III)) ever since.

Weekly TRV Chart November 2023

Weekly TRV Chart November 2023

The new chart above shows that TRV continued lower as expected. However, given the market conditions in this month looks like is going to correct the cycle from January 2023 high. Therefore, we can see clearly 3 waves lower from the peak and the stock should make 3 waves higher before resuming to the downside. There are 2 structures to use in this case, a flat correction or a double correction. The flat correction has a structure of 3-3-5 and the double correction is 3-3-3. The only difference is the end of the structure, but either way the stock should turn lower again.

Wave ((A)) of (II) fell to the price of $161.33 in March and the rebound as wave ((B)) ended at $185.77. The last swing lower as wave ((C)) ended in October 23rd at 157.33 and also ended wave "w". From here, TRV made a strong rally that should continue until wave "x" is completed. As long as the price action is below wave (I) peak, we expect to continue to the downside building 3 waves lower as "y" of (II).

Source: https://elliottwave-forecast.com/stock-market/travelers-trv-make-double-correction/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Hard Red Winter Wheat is one of the grain commodities, along with soft red wheat, corn, soybeans and others. Within the wheat family, first of all, there is a fundamental difference between two wheat types. Soft wheat is low in protein and is basically used in cakes in pastries. By contrast, hard wheat has a higher content of protein and it founds itself in breads and hard baked goods. Some time ago, trading of hard wheat took place at Kansas City Board of Trade. Then, it moved to Chicago. One can trade hard wheat futures at Chicago Board of Trade under the ticker $KE. Hereby, the contract size is 5’000 bushels (300’000 pounds) each and the prices are in Dollars US per 100 bushel.

In the initial article from September 2021, we saw prices climbed from 524 USD in December 2020 towards 738 USD by August 2021. There, we have forecasted a rally towards 1’000 USD and higher to take place. We were right. In May 2022, hard red winter wheat has printed a highest price since a good decade at 1225. Then, we saw a short term pullback taking place. In the last article from July 2022, we have proposed a correction as an expanded flat structure against August 2019 lows. As a matter of fact, pullback took a larger scale and the market is correcting against October 2016 lows as an Elliott wave zigzag pattern. In the current blog, we discuss the wave structure, support area and the targets.

Hard Red Winter Wheat Weekly Elliott Wave Analysis 11.20.2023​

The weekly chart below shows the Hard Winter Wheat front contract IH #F. From the all-time lows, the prices have developed a cycle higher in black wave ((w)) of a grand super cycle degree. It has ended in March 2008 at 1290 Dollars. From the highs, a correction lower in wave ((x)) has unfolded as an Elliott Wave double three pattern. In only 8 years, in fact, IH #F has lost more than 3/4 of the price reaching 296 Dollars per 100 bushel. It is the preferred view that an important bottom on October 2016 has been set and the black wave ((x)) has ended.

From the lows, consequently, a new rally within black wave ((y)) has started. Similarly to the wave ((w)), wave ((y)) should see 3 swings up. Hereby, 1st swing within the super cycle degree wave (a) has already ended. It has reached 0.618-0.786 multiples of the wave ((w)). Now, pullback in wave (b) should find support in 3, 7 swings against October 2016 lows. Then, final push higher in the 3rd swing as blue wave (c) of black wave ((y)) should take place targeting 1585-2382 area.

From the October 2016 lows, blue wave (a) demonstrates a textbook quality impulse. In fact, red wave III shows an extension beyond 2.618x of the wave I. Indeed, extension is a characteristic feature of impulsive waves. Blue wave (a) has printed a top in May 2022 at $1225. From the highs, consolidation in blue wave (b) is taking place. Firstly, red wave a has printed a low in August 2022 at 777. Secondly, bounce in red wave b has set a connector in October 2022 at 923 highs. Thirdly, price has broken 777 lows opening up a bearish sequence. Now, red wave c should reach 543-296 area.

Investors and traders can be looking to buy IH #F ($KE) from 543-296 area. For 2024-2030, the expectations are to break to the new all-time highs. The long-term target for wave (c) to end will be 1585-2382 area.

Hard Red Winter Wheat Elliott Wave Weekly

Source: https://elliottwave-forecast.com/commodities/hard-red-winter-wheat-pullback/