Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
9
84
www.elliottwave-forecast.com
CrowdStrike Holdings, Inc. is an American cybersecurity technology company based in Austin, Texas. Providing cloud workload and endpoint security, threat intelligence, and cyberattack response services.

They have a market value of $51b. They generated sales of up to $1.5b within the last 12 months. We have noticed a huge demand of CrowdStrike due increase numbers of remote working which increased the demand for cloud computing.

CrowdStrike could reach $3 billion in annual revenue in 2023, a year earlier than the company’s guidance, according to a BI analysis.

Lets take a look at why we like this stock this quarter throughout to the end of the year.

Weekly Timeframe - 25th May 2022​

CRWD_2022-05-25_18-32-25-1-1024x560.png


As you can see here, we completed a 5 wave sequence to complete wave I on a higher degree. Ever since November 2021 highs at $298, we have been correcting in a 7 swing structure to the downside with an invalidation level at $31.95.

Lets take a look at the correction we are unfolding at the moment.

Daily Timeframe - 25th May 2022
CRWD_2022-05-25_18-33-47-1024x560.png

Daily timeframe, we are unfolding a double correction. This is a good sign considering that a WXY is more corrective in nature as opposed to a ZigZag - ABC. Currently within wave ((Y)) we are unfolding in wave (B) as a triangle and should be unfolding in a 5 wave sequence into wave (C).

In order to complete this corrective cycle, I would like to see a 5 wave sequence to the upside to confirm this correction is done.

I believe we will continue to see this climb in the near term future for a long time as more security would be required due to everything going into the cloud.

Source: https://elliottwave-forecast.com/elliottwave/crowdstrike-stock-watch-2022/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
9
84
www.elliottwave-forecast.com
In this technical blog we’re going to take a quick look at the Elliott Wave charts of USDSEK published in members area of the website. As our members knew, we’ve been favoring the long side in USDSEK due to the fact that many USD pairs been favoring more upside in USD like there are incomplete bearish sequences in AUDUSD, NZDUSD, XAGUSD and a bullish sequence in USDCAD favouring more upside in US Dollar. USDSEK found a peak at May 12, 2022 (10.179) and started pulling back and this pull back took the form of double three Elliott wave correction and members knew it was nothing more than another buying opportunity. In the remainder of the article, we are going to explain the Elliott Wave Pattern and talk about the strategy of blue box buying.

Before we take a look at the real market example, let’s explain Double Three Elliott Wave Structure.

Double Three Elliott Wave Structure is one of the corrective patterns in Elliott Wave theory. Double three is a sideways combination of two corrective patterns. There are several corrective patterns including zigzag, flat, triangle etc. When two of these corrective patterns are combined together, we get a double three. Wave W and Y subdivision can be zigzag, flat and double three of smaller degree or triple three of smaller degree. Wave X can be any corrective structure and double three is a 7 swing structure.

Double Three Elliott Wave Structure for USDSEK blog

USDSEK 25 May 1 Hour Elliott Wave Asia Update​

Chart below shows pair in a double three Elliott wave structure lower from May 12, 2022 peak and has reached the blue box which is made up of 100 - 161.8% Fibonacci extension area of wave W related to wave X. Client knew a 7 swing correction should end in this blue box and we should see a turn higher to resume the rally in wave (5) or for 3 waves reaction higher at least.

We don’t like selling the pair against the main bullish trend. Strategy is favoring longs as price already reached the blue box because we still expect at least 1 more leg higher. Once bounce reaches 50 Fibs against red X high, we will make long position risk free by either moving stop loss to entry position or taking partial profits and putting stop on remaining position below the low within the blue box. Invalidation for the trade would be break of marked invalidation level at 9.5683. As our members know, Blue Boxes are no enemy areas , giving us around 80% or a higher chance to get 3 waves bounce at least from the blue box.

USDSEK 25 May 1 Hour Elliott Wave Update

USDSEK 25 May 1 Hour Elliott Wave Midday Update​

Chart below shows USDSEK has found buyers at the Blue Box area and we are getting good reaction from there. Pull back completed at 9.745 as a double three Elliott wave structure. The rally from the blue box reached and exceeded 50% of the decline from red X peak. Consequently, members who have taken the long trades at the blue box now enjoying profits in a risk free trades. Now we would need to see break of May 12. 2022 peak in order to confirm next leg up is in progress. Until May 12, 2022 high doesn’t break, a double correction lower still can’t be ruled out in which case we would highlight the next blue box buying area for members.

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.



USDSEK 25 May New York Elliott Wave Update

Source: https://elliottwave-forecast.com/forex/usdsek-buying-dips/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
9
84
www.elliottwave-forecast.com
Royal Caribbean Group (RCL) ended the Grand Super Cycle since the all-time lows and corrected the cycle back in 2020. The 03.13.2020 is the beginning of a lesser degree cycle, which is called Super Cycle. The stock should see new all-time highs around the $160-$180 areas. One of the most reliable and popular patterns within the Elliott Wave Theory is the Five wave Impulse. This is basically a sequence of 5-9-13-17-21 waves and always goes with the trend as below chart shows:



The graphic above shows how the pattern looks like. The five waves move subdivides in lesser degrees which are themselves also five waves. The Elliott Wave Theory's main principle is that when five waves are in one direction, the market will correct in three, seven, or eleven. Once correction is over, market will follow the previous direction and renew with the five waves. The Following chart shows a 5 waves move with a nest. The concept is a series of five waves until an extension happens within either one of the three impulses; wave 1, wave 3, or wave 5.



RCL Monthly Elliott Wave Chart:​



The Monthly chart above shows the Grand Super Cycle for RCL. We can see a nest forming from the all-time lows. It rallied in wave (I) and then wave I before the acceleration happens. Being able to spot a nest is one of the best gifts a trader can have. We believe that the stock can nest again. We can see a higher degree nest from the Grand Super Cycle ((I)), then Super Cycle (I). The pullback in wave (II)) can give a very nice buying opportunity, and we are expecting acceleration to take place soon.

RCL Weekly Elliott Wave Chart​



The weekly chart above shows the Super Cycle degree. The stock reacted off the lows at 03.13.2020, and how it is doing a correction against that low. The corrections in the Elliott Wave Theory happens in three, seven, and eleven swing. In this case, we believe a WXY seven swing structure pullback is taking place. The stock reached the area between $55.24-$33.40, and buyers can appear for a huge move higher. The seven swings structure is very clear, and it is important to notice that the first leg into w is in a clear three waves. This rules out an impulse move lower and thus the only alternate view is a flat. In a Flat, we will be ending wave (3) of c, but the odds of that view is very slim at this moment.

In conclusion: The stock is currently trading within buying areas between $55.24-$33.40. A possible nest can take place to the upside. The price action is very clear, and the correction points to a huge acceleration to happen soon.

Source: https://elliottwave-forecast.com/st...est-might-be-taking-place-into-higher-levels/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
9
84
www.elliottwave-forecast.com
The Market has been in a correction since the peak at 02.14.2022. Many Market participants have turned bearish and forgot about the trend. As we always do at EWF, we locate the trend, and always relate the instrument among different time frames and cycles. The Elliott Wave Theory comes with degrees and cycles like Grand Super Cycle, and Super Cycle. Expedia stock has done a nice pull-back and we provided the target area in the past. We provided the reason in the following seminar "Are World Indices Entering into Crash Territory?". We expected the stock to rally from the Blue Box buying area. Now, the stock is pulling back again and trading within another Blue Box area. The Elliott Wave Theory basic pattern comes with an advance in five waves and a pullback in three waves. The following chart illustrates the idea:



The chart above shows how each subdivision is in five waves. The degrees and sequences with the trend is in 5-9-13 swing. Also, after the cycle ended, the market corrects and traps the sellers because of the wrong impression that something bigger will happen. The correction always comes with a sequence of 3-7-11 swing. The most popular correction is a simple ABC, which structure is 5-3-5.

Expedia since the lows at ((II)) has rallied in clear five waves within the (I) degree, and now is correcting the cycle in a simple ABC. The following chart below illustrates the move

EXPE Weekly Elliott Wave Chart​



The stock shows the structure and representation of the Super Cycle degree since the lows at ((II)). We can see how since the lows the stock went from I-II-III-IV-V degree with the lesser degree ((1))((2))((3))((4))((5)). It has a perfect sequence of 5-9-13-17 which is an impulse.

The stock is now in the process of ending the abc lower against the main trend and should turn higher as far as it stays above the $97.84 area. As an alternate, if the stock trades below the $97.84 area, it will make the move from the peak in (I) as a five waves decline. Consequently, a bounce in three waves should happen before another leg lower. Even in the alternate scenario, another move higher is still going to happen as far as wave ((II)) low at 3.16.2020 holds. The Super Cycle move higher should remain in place because the stock already traded above the peak at 07.24.2017, which represents a bullish sequence in our system.

In conclusion: The stock shows a bullish sequence within the Grand Super Cycle. Buyers should remain in control against the lows at 03.16.2020. We recommend buying the dips in three, seven, and eleven, and at this moment we are within the first three waves of pullback which should offer an opportunity that can not be missed.

Source: https://elliottwave-forecast.com/st...p-inc-a-bullish-sequence-supports-the-buying/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
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 XLP. In which, the rally from the 23 March 2020 low unfolded as an impulse and made a pullback to correct that cycle. So, we advised members not to sell it because higher time frames are still favoring more upside in the ETF. Therefore, our strategy remained to buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

XLP 4 Hour Elliott Wave Chart​

XLP Reacting Strongly From Elliott Wave Blue Box Area

Here’s Elliott wave Chart of XLP from the 5/19/2022 update. In which, the rally to $81.34 high ended the cycle from the 23 March 2020 low & made a pullback. The internals of that pullback unfolded as Elliott wave zigzag structure where wave ((A)) ended in 5 waves at $75 low. Then a bounce to $78.05 high ended wave ((B)) & started the next leg lower in wave ((C)) towards $71.69- $67.76 blue box area. From there, buyers were expected to appear looking for new highs ideally or for a 3 wave bounce minimum.

XLP Latest 4hr Elliott Wave Chart​

XLP Reacting Strongly From Elliott Wave Blue Box Area

Above is the latest Elliott wave Chart from the 5/26/2022 update. In which the ETF is showing a reaction higher taking place from the blue box area at $71.69- $67.76. Right after ending the zigzag correction within the blue box area. Allowed members to create a risk-free position with the minimum reaction higher towards 50%- 61.8% Fibonacci retracement of the previous wave ((C)) at $73.82- $74.81 area. However, a break above $81.34 high is still needed to confirm the next extension higher & avoid double correction lower.

Source: https://elliottwave-forecast.com/stock-market/xlp-reacting-strongly-elliott-wave-blue-box-area/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
9
84
www.elliottwave-forecast.com
In this technical blog we’re going to take a quick look at the Elliott Wave charts of AUDJPY, published in members area of the website. As our members know, we’ve been favoring the long side in AUDJPY due to incomplete bullish sequences the pair is showing in the weekly cycle from the March 2020 low. Consequently, we recommended members to avoid selling the pair, while keep favoring the long side. Recently AUDJPY made a pull back that has given us good trading opportunities. We expected the pair to find buyers at the extreme zone from the 04/21 peak. In the further text we are going to explain the Elliott Wave Forecast and trading strategy.

AUDJPY Elliott Wave 4 Hour Chart 05.11.2022​

Current view suggests AUDJPY is doing black pull back against the 78.77 low. Pull back is showing incomplete sequences at the moment. First leg of the pull back looks like 5 waves structure, which means correction is having form of Elliott Wave Zig Zag pattern. We believe (C) wave is still in progress toward 88.71-85.41 area ( Blue Box - buying zone) .
We don’t recommend selling the pair against the main bullish trend. Strategy is waiting for the price to reached marked blue box zone, before entering the long side again. As the main trend is bullish we expect buyers to appear at the blue box for 3 waves bounce at least. Once bounce reaches 50 Fibs against the (B) blue high, we will make long position risk free ( put SL at BE). Invalidation for the trade would be break of marked invalidation level 85.41.

As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a bounce.

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

AUDJPY

AUDJPY Elliott Wave 4 Hour Chart 05.11.2022​

AUDJPY made leg down as expected. The pair found buyers at the Blue Box area and we are getting good reaction from there. Pull back completed at 87.26 low. The rally from the blue box already reached 50 fibs against the (B) connector. Consequently, we booked partial profits and made trades risk free ( put SL at BE). Now we need to see break of April 21st peak in order to confirm next leg up is in progress. In short term we would like to see break above 1 red high : 91.16 which will open possibility for further extension toward 92.99-93.93 area next.

Note: Some labeling have been removed in order to protect clients’ privileges.

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

AUDJPY

Elliott Wave Forecast
Source: https://elliottwave-forecast.com/trading/audjpy-buying-blue-box-area/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
9
84
www.elliottwave-forecast.com
Virgin Galactic is an American spacieflight company providing suborbital flights to space tourists. With reservation price of $450'000, in November 2021 there were as many as 700 active reservations. The company aims to see 3 launches per month starting 2023. Founded 2004 and headquartered in Mojave, California, USA, Virgin Galactic is a part of Russel1000 index. One can trade it under the ticker $SPCE at NYSE.

Virgin Galactic Weekly Elliott Wave Analysis 05.29.2022​

The weekly chart below shows the Virgin Galactic stock $SPCE traded at NYSE. From the all-time lows, the stock price saw an initial cycle higher in wave (I) of super cycle degree towards the all-time highs on February 2021 at 62.80. Within that larger cycle, the red wave III shows an extension beyond 2.618 as related to the wave I. The sideways price action from February 2020 to January 2021 might be seen as an Elliott wave triangle in wave IV.

From the all-time highs in February 2021, a correction lower in wave (II) has unfolded as a regular flat being 3-3-5 structure. First, 7 swings of red wave a have seen a low in May 2021 at 14.27. One should note that 7 swings are technically the same as 3 swings. Then, 3 swings of red b have provided a connector wave towards 57.51 high. From there, red wave c lower is showing 5 waves of an impulse. It has reached already 9.00-0.00 equal legs extension area. On its own, wave c can still extend deeper. However, based on world indices, we call the wave c already finished on May 2022 at 5.14. While above there, a new cycle in wave (III) might just have started.

Investors and traders can be looking to buy Virgin Galactic from 9.00-0.00 area targeting 67.86-106.64 area and even beyond.

Virgin Galactic Elliott Wave Weekly

Source: https://elliottwave-forecast.com/stock-market/virgin-galactic-weekly-buying-area/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
9
84
www.elliottwave-forecast.com
Chevron (CVX) has been trading in a huge up-trend since its inception in the market. The Symbol ended a Super-cycle degree back in 2014 and corrected for six years until it found buyers again in 2020. The Elliott Waves Theory basic rule is that the market trends in five waves and correct in three waves as following chart shows:



It shows the Five waves' advance and the subdivisions within each impulse. Impulsive structure follows a sequence of 5-9-13-17-21. It is a powerful to trade with it, but also very dangerous when the market trades in the middle of the sequence.

Chevron from the all-time low is in the middle of a five waves advance, as we show in the following chart:

Quarterly Chevron Elliott Wave Chart​



As we can see from above chart, the Grand Super Cycle is incomplete and now we are trading within wave (III). The wave (III) also comes with its own subdivision which we will show up in the Weekly chart below. However, we can see within the Grand Super Cycle that Chevron will be looking for the $187.00-$219.00 area to end wave (III) Blue. Then the stock should create a multi-year correction and more upside within wave (V) to end the Grand Super Cycle Five waves advance.

Chevron (CVX) Weekly Elliott Wave Chart​

CVX Weekly Elliott Wave Chart

The weekly chart above shows the internals since the blue box area and the end of wave (II) back in 2020. Since the lows, the stock did a nest or a series of I –((1)) and then created separation to the upside. Presently we should be trading into the end of wave III red with a series of IV and V to reach the target within the higher degree (III). As we can see the market is represents a cycle and each cycle has its own sub-waves. Understanding the subdivision makes life easier for traders. Chevron can end wave III red at 100% since the all-time lows. Afterwards, a reaction lower should be happening to create another chance to buy.

In conclusion, we believe the uptrend in Chevron has years before the Grand Super Cycle ends. We recommend buying the dips in the corrective sequences in 3-7-11-15-19 and never selling the stock. Oil cycles, and very similar to Chevron, will benefit tremendously in the years ahead. Using The Elliott Wave Theory provides us with the map and helps us not to trade in the wrong side.

Source: https://elliottwave-forecast.com/st...orporation-trading-higher-and-supporting-oil/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
9
84
www.elliottwave-forecast.com
HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and world's 10th largest bank by market capitalization as of April 2021, the third largest company by market capitalization of $122.50 billion on the Indian stock exchanges. It is also the fifteenth largest employer in India with nearly 120,000 employees.

HDFC BANK Daily Chart May 28th 2022​

HDFC BANK Daily Chart May 28th 2022Since March 2020, HDFC BANK maintained a sustained growth in the value of its shares. For us it was to build an impulsive structure that ended in December of last year. An impulse is a 5-wave structure. We can see on the chart that wave ((1)) ended at 1159.41. The pullback towards 993.36 was wave ((2)). From there, it continue to rally in an extended wave ((3)) ending at 1651.54. Then wave ((4)) appeared in the form of a double correction ending at 1353.13. The last push up we had an impulse, as expected, to complete wave ((5)) at 1726.02 and complete wave I.

From December, stocks have moved lower and it seems that we have already completed the downward cycle with a flat structure according to Elliott Wave Theory. The market hit the blue box at 1288.51 and we have already seen a bullish reaction from this level. (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory).

The drop from the peak 1276.02 was in 3 swings. Wave (A) ended at 1412.85, corrective wave (B) made a triangle and ended at 1530.84. It then continued lower to complete wave (C) and wave ((A)) at 1291.96. The market had a strong rebound that tested the highs ending wave ((B)) at 1721.65 and turned quickly making an ending diagonal structure completing wave ((C)) and wave II at 1280.31.

We have already seen a bullish reaction from the blue box and this should continue through the year as HDFC shares should break above 1726.02 as long as we stay above 1280.31 from here.

Source: https://elliottwave-forecast.com/stock-market/hdfc-bank-shares-broke-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
9
84
www.elliottwave-forecast.com
Extra Space Storage Inc (EXR) is a self-administered & self-managed REIT. The company owned &/or operated 1,906 self-storage stores in 40 states. The company offers customers a wide selection of conveniently located & secure storage units across the country, including boat storage, RV storage & business storage. It is based in Salt Lake City, Utah, comes under Real Estate sector & trades under “EXR” ticker as NYSE.

EXR made all time high at $228.84 recently after March-2020 global sell off as impulse sequence. It proposed ended short term correction at $167.94 low against all time high & expect to resume higher, while dips remain above there.

EXR : Elliott Wave Latest Daily view :​

During March-2020 global sell off, it made an intermediate low at $72.70 on 3/23/2020. Then, it started impulse sequence higher. It placed ((1)) at $105.02 high & ((2)) at $80.86 low. ((2)) was 0.764 Fibonacci retracement against ((1)). Above there, it started third wave extension of third wave extension. It finished ((3)) at $194.67 high on 9/08/2021. While below there, it placed ((4)) at $165.97 low as 0.236 retracement against ((3)). Finally, it favored ended ((5)) at $228.84 high on 12/31/2021 as wave I.

Below $228.84 high, it proposed ended II correction at $167.94 low on 5/20/2022. It placed ((A)) at $186.71 low & ((B)) at $222.35 high as flat correction. Finally, it finished ((C)) leg at $167.94 low between $180.06-$153.84 as blue box area within II correction. While above there, we like to remain long from the blue box area for wave III higher or at least 3 swing bounce as connector within larger double correction. Currently, it favors wave 1 higher.

Source: https://elliottwave-forecast.com/stock-market/exr-is-it-ready-for-next-rally/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
9
84
www.elliottwave-forecast.com
The last time I analyzed Camber Energy was back in March 2022. At the time I was looking for one more high to take place before pulling back against the rally from Februray 2022 low. Firstly, lets review what the company profile:

Camber Energy, Inc. (“Camber”) is a growth-oriented, diversified energy company. Through its majority-owned subsidiary, Viking Energy Group, Inc. (“Viking”), or subsidiaries of Viking, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. Viking also holds an exclusive license in Canada to a patented carbon-capture system.

Camber Energy Elliottwave View from March 2022:​



As mentioned above, I was expecting another push higher in black ((1)) before resuming lower. The market had difference expectations. This stock has failed to produce another high and instead pulled back to correct the cycle from the Feb 2022 low. Lets take a look at the adjustment below.

Camber Energy Elliottwave View from May 2022:​



Medium term term view from the Feb 22/2022 low at 0.45. The stock currently has 5 waves up from the Feb 2022 low, and has completed the pullback against the Feb 2022 low. This pullback in ((2)) was completed May 12/2022 @ $0.54 . As long as 0.54 remains intact further upside is still favoured to take place. It is very important that the recent Feb 2022 lows remain intact. Any breach of that level could suggest that new all time lows could be on the way. On the upside, the target area for Red III is 4.98 to 7.78.

Source: https://elliottwave-forecast.com/stock-market/camber-energy-inc-cei-ready-rally/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
9
84
www.elliottwave-forecast.com
In this technical blog, we will look at the past performance of the Daily Elliott Wave Charts of SPY. In which, the rally from the 23 March 2020 low unfolded as an impulse and made a pullback to correct that cycle. So, we advised members not to sell it because higher time frames are still favoring more upside in the ETF as a nest. Therefore, our strategy remained to buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

SPY Daily Elliott Wave Chart​

SPY Offered Buying Opportunity At The Blue Box Area

Here’s Elliott wave Chart of SPY from the 5/01/2022 update. In which, the rally to $479.98 high ended the cycle from the 23 March 2020 low & made a pullback. The internals of that pullback unfolded as Elliott wave double three structure where wave ((W)) ended in 5 waves at $420.76 low. Then a bounce to $462.07 high ended wave ((X)) as a flat & started the next leg lower in wave ((Y)) towards $402.91- $366.25 blue box area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

SPY Latest Daily Elliott Wave Chart​

SPY Offered Buying Opportunity At The Blue Box Area

Above is the latest Elliott wave Chart from the 5/29/2022 update. In which the ETF is showing a reaction higher taking place from the blue box area at $402.91- $366.25. Right after ending the double correction within the blue box area. However, a break above $479.98 high is still needed to confirm the next extension higher & avoid double correction lower.

Source: https://elliottwave-forecast.com/stock-market/spy-offered-buying-opportunity/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
9
84
www.elliottwave-forecast.com
Disney (DIS) has had a tremendous rally since the all-time lows which ended at the Peak early last year. The stock peaked at $202.73 and has dropped more than $100.00. The Elliott Wave Theory states that there is always a correction to happen in three, seven, and eleven after five waves advance. Disney advance since the all-time is a classic five waves advance, as the following chart shows:

Disney Quarterly Elliott Wave Chart​



The advance comes in two majors degree, wave (I) in blue or Super Cycle degree and wave I in red or Cycle degree. The Peak created a Grand Super Cycle, which we labeled at ((I)). The stock now should be trading in wave ((II)), which might represent a tremendous buying opportunity.

Elliott Wave Impulse Chart​



The Elliott Wave Theory was developed back in the 1930s. The world however has developed a lot over the last century with the advance of computers. The classic Elliott Wave Pattern is identical to Disney's Grand Super Cycle chart. As the pattern above shows, after five waves advance, a correction happens before the previous trend renews. We at EWF notice how the High-Frequency Trading Machines (HFT) has taken over trading. We have identified the sequences, either as impulse or corrective, in which they trade.

It is interesting to see the HFT buying and selling in every single time frame and how there is always money flowing in and out of the market. There is a lot of credit to the Theory's observations. But without adjustments in 2022, we might be lost at this moment applying the original Theory. We have added the blue boxes to present members with the areas where the HFT machines are entering the market.

We have incorporated the sequences of 5-9-13-17-21-25 (Impulse sequence ) to identify the right side or trend. The counter-trend corrective sequence runs in 3-7-11-15-19-23. We have added a distribution system to locate the cycles. When the connectors in correction are completed, we can get the right measures to enter the Market. These tools were not available back in the 1930s. But as we always said, the cars we drive today are much better and faster than then one a century ago, even when the concept is the same.

Disney has been correcting in a simple ABC since the Peak at 03.08.2021, a structure with a sequence of 5-3-5. It should end around the 100% extension between the A and B to provide the equal leg or 100% distance to travel when C=A.

Elliott Wave Zigzag Chart​



The pattern above is a representation of an ABC. We can see how the subdivision of each leg comes in five waves. The classic Elliott Wave Pattern presents ABC as a move against the main trend. After the correction ends, the trend will renew, providing traders with a unique opportunity.

Disney Weekly Elliott Wave Chart​

Disney (DIS) Weekly Elliott Wave Chart

The decline since the Peak at 03.08.2022 shows the ABC pattern in Disney. It prsents a very technical decline with a very nice defined buying area. The blue box area is where the HFT Machines will be entering the Market. This is the area when we recommend our members to buy the stock. The 61.8-76.47 Fibonacci extension area at $101.27 - $112.02 is also an HFT area. Sometimes the market truncates in the area without reaching the blue box, which is why we also highlight the area in our charts.

The Theory will provide trade opportunity based on the corrective sequences to either trade into new highs, or bounce in three waves, and then turn lower in seven swing into another buy. As always, trading is about knowing the market nature and understanding when and where to enter the Market. The Originals Theory helps, but we add all the tools to make it better.

Source: https://elliottwave-forecast.com/st...sney-company-a-grand-super-cycle-opportunity/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
2,452
9
84
www.elliottwave-forecast.com
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of GOLD, published in members area of the website. As our members know, GOLD is giving us correction of the cycle from the 2069 high. Recently GOLD ( $XAUUSD ) made a pull back that has had a form of Elliott Wave Zig Zag pattern. We expected GOLD to find buyers at the extreme zone from the 05/24 peak. In the further text we are going to explain the Elliott Wave Pattern and the forecast

Before we take a look at the real market example, let’s explain Elliott Wave Zigzag.

Elliott Wave Zigzag is the most popular corrective pattern in Elliott Wave theory . It’s made of 3 swings which have 5-3-5 inner structure. Inner swings are labeled as A,B,C where A =5 waves, B=3 waves and C=5 waves. That means A and C can be either impulsive waves or diagonals. (Leading Diagonal in case of wave A or Ending in case of wave C) . Waves A and C must meet all conditions of being 5 wave structure, such as: having RSI divergency between wave subdivisions, ideal Fibonacci extensions and ideal retracements.

GOLD

At the chart below we can see what Elliott Wave Zig Zag pattern looks like in real market.

GOLD H1 London Update 06.01.2022​

GOLD is giving us pull back against the 1786.4 low. Recovery has already reached the extremes from the peak at 1833.8-1814.9 area and we expect to complete X red soon. We assume pull back is unfolding as Elliott Wave Zig Zag Pattern. That means both A and C leg has to have a form of 5 waves structure. We can count clear 5 waves down in A red leg. We are calling for another marginal push lower within the marked reversal area. Anyway, we don’t recommend selling. We are aware that extreme zone is already reached and minimum number of swings is already there, turn can happen any moment.

Reminder : You can learn more about Zig Zag and other Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

GOLD

GOLD H1 New York Update 06.01.2022​

GOLD has started giving us reaction from the marked zone and we count X red connector completed at 1827.7 low. Now, we need to see further separation up from the mentioned level and break above W red high : 05/24 to confirm next leg up is in progress.

GOLD

GOLD H1 New York Update 06.03.2022​

We got further separation higher and break of 05/24 peak, confirming next leg up is in progress. GOLD can remain supported in near term as far as 1828.04 pivot holds.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent updates in the membership area of the website. Remember that not every chart is trading recommendation. 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. You can check most recent charts in the membership area of the site.

GOLD

Elliott Wave Forecast
Source: https://elliottwave-forecast.com/elliottwave/gold-xauusd-elliott-wave-zigzag/
 

Elliottwave-Forecast

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Feb 17, 2017
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In this technical blog we’re going to take a quick look at the Elliott Wave charts of Dow Futures (YM_F) published in members area of the website. As our members knew, we’ve been favoring the long side in YM_F due to it having an incomplete bullish sequence against 3.23.2022 low. Moreover, Indices like FTSE are also showing an incomplete bullish sequence which favors more upside in the Indices. Dow Futures found a peak at January 5, 2022 (36832) and started pulling back and this pull back took the form of double three Elliott wave correction and members knew it was nothing more than another buying opportunity. In the remainder of the article, we are going to explain the Elliott Wave Pattern and talk about the strategy of blue box buying.

Before we take a look at the real market example, let’s explain Double Three Elliott Wave Structure.

Double Three Elliott Wave Structure is one of the corrective patterns in Elliott Wave theory. Double three is a sideways combination of two corrective patterns. There are several corrective patterns including zigzag, flat, triangle etc. When two of these corrective patterns are combined together, we get a double three. Wave W and Y subdivision can be zigzag, flat and double three of smaller degree or triple three of smaller degree. Wave X can be any corrective structure and double three is a 7 swing structure.

Double Three Structure for YM_F Blog

YM_F 21 May Elliott Wave Update - Daily Time Frame​

Chart below shows Dow Futures in a double three Elliott wave structure lower from January 5, 2022 peak and has reached the blue box which is made up of 100 – 161.8% Fibonacci extension area. Clients knew a 7 swing correction should end in this blue box and we should see a turn higher to resume the rally for a new high above January, 2021 peak or for 3 waves reaction higher at least.

We don’t like selling the pair against the main bullish trend. Strategy is favoring longs as price already reached the blue box because we still expect at least 1 more leg higher. Once bounce reaches 50 Fibs against black ((X)) high, we will make long position risk free by either moving stop loss to entry position or taking partial profits and putting stop on remaining position below the low within the blue box. Invalidation for the trade would be break of 1.618 Fibonacci extension level at 27807. As our members know, blue Boxes are no enemy areas , giving us around 80% or a higher chance to get 3 waves bounce at least from the blue box.

YM_F 21 May Daily Chart Elliott Wave Analysis

YM_F 28 May Elliott Wave Update - Daily Time Frame​

Chart below shows Dow Futures (YM_F) has found buyers at the Blue Box area and we are getting good reaction from there. Pull back completed at 30585 as a double three Elliott wave structure. The rally from the blue box reached and exceeded 50% of the decline from black ((X)) peak. Consequently, members who have taken the long trades at the blue box now enjoying profits in a risk free trades. Now we would need to see break of January 5, 2022 peak in order to confirm next leg up is in progress. Until January 5, 2022 high doesn’t break, a larger double correction lower still can’t be ruled out in which case we would highlight the next blue box buying area for members.

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.

YM_F 28 May Daily Chart Elliott Wave Analysis

Source: https://elliottwave-forecast.com/stock-market/ym_f-buying-dips-blue-box/
 

Elliottwave-Forecast

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Feb 17, 2017
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Medical Properties Trust is a real estate investment trust that invests in healthcare facilities subject to NNN leases. Founded in 2003 and headquartered in Birmingham, Alabama, USA, it is a part of S&P400 mid-cap index. Investors can trade it under the ticker $MPW at NYSE. The company owns 438 properties in the United States, Germany, Switzerland, Italy, Spain, Portugal, United Kingdom, Australia, Finland and Colombia. Also, trust owns equity interest in several healthcare providers.

Therefore, investors looking to invest both in real eastate and healthcare, obtain a great deal when buying $MPW.

Medical Properties Trust Monthly Elliott Wave Analysis 06.05.2022​

The monthly chart below shows the Medical Properties Trust stock $MPW traded at NYSE. From the all-time lows, the stock price has developed a cycle up in blue wave (I) of super cycle degree. It has unfolded as an Elliott wave leading diagonal pattern being 3-3-3-3-3 structure. Blue wave (I) has printed the all-time high in February 2020 at 24.29. After 5 waves higher in wave (I), the correction lower in wave (II) has printed an important bottom in March 2020. While price is holding above 12.35, the cycle in wave (III) is currently in progress. The target for wave (III) will be 36.67-51.70 and even higher.

Medical Properties Elliott Wave Monthly

Medical Properties Trust Daily Elliott Wave Analysis 06.05.2022​

The daily chart below shows in more detail the final stages of the wave I of (III) and the decline in wave II. From the highs in January 2021 at 24.13, wave II unfolds currently as an Elliott wave zigzag pattern being 5-3-5 structure. Hereby, waves ((A)) and ((B)) have already finished, wave ((C)) is in progress and should reach towards 100% extension of the wave ((A)). Also, the structure of the wave ((C)) looks incomplete.

Therefore, the blue box area 17.03-14.17 is a great opportunity to enter the market at a good price. Buyers should be waiting there. From the blue box area, the Medical Properties Trust stock should accelerate in the red wave wave III of blue wave (III) towards 24.13 and higher.

Medical Properties Elliott Wave Daily

Source: https://elliottwave-forecast.com/stock-market/medical-properties-trust-buying-opportunity/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Cameco (CCJ) is a Canadian-based providers of the uranium fuel, refining, conversion, and fuel manufacturing services. It's the second largest uranium producer with 18% of the world production. It operates uranium mines in North America and Kazakhstan. As a key component of nuclear energy, uranium can continue to rise higher as the world looks for alternative energies. Amidst soaring oil, gas, and electricity prices, nuclear power points are making a comeback. In addition, the European plan to wean off from its dependence on Russia's oil and gas necessitate an alternative placement. Below we will look at the technical chart o fone of the largest uranium companies.

$CCJ Monthly Elliott Wave Chart​

Cameco Monthly Elliott Wave Chart

Monthly Elliott Wave View in Cameco (CCJ) above suggests that the stock ended wave (II) pullback at $5.30. From there, it rallies as a 5 waves impulse structure ending wave I at $28.49. Wave II pullback completed at $18.03 and the stock has resumed higher. Wave ((1)) of III ended at $32.49 and dips in wave ((2)) ended at $20.02. Near term, expect the stock to continue extending higher as far as it stays above wave II at $18.03.

$CCJ Alternate Monthly Elliott Wave Chart​



The alternate monthly chart for Cameco above suggests that wave II pullback still remains in progress as an expanded flat to correct the rally from March 2020 low. In this alternate scenario, we should see further downside to end wave ((C)) of II in 5 waves before the rally resumes. As far as pivot at $5.3 low remains intact, expect the stock to continue higher.

Source: https://elliottwave-forecast.com/stock-market/new-bullish-cycle-cameco-ccj/
 

Elliottwave-Forecast

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Feb 17, 2017
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The Borsa İstanbul (BIST or XU100) is the sole exchange entity of Turkey combining the former Istanbul Stock Exchange (ISE), the Istanbul Gold Exchange and the Derivatives Exchange of Turkey under one umbrella. It was established as an incorporated company with a founding capital of ₺423,234,000 (approx. US$240 million) on 2013 and began to operate on April 5, 2013. Its logo is the traditional Ottoman mark for Istanbul, the tulip. Its slogan is worth investing.

XU100 4 HOUR CHART JUNE 4th 2022

XU100 4 HOUR CHART JUNE 4th 2022

The XU100 started a rally from the end of December 2021. While other stock indices around the world have had a negative year so far; for example, the SPX has lost 13.80%, the BIST 100 has gained 40.00%. As we see on the chart, the rally that started from wave IV at 1727 shows a 5-wave structure, forming an impulse according to the Elliott wave theory. Wave ((1)) ended in 2105. The corrective wave ((2)) did a flat structure (A), (B) and (C) ending in 1826.

Then continued a strong rally to build wave ((3)). In a lesser degree, we have wave (1) ended at 2047. Wave (2) at 1963. The bullish momentum followed with wave (3) extending to 2450. Wave (4) pulling back at 2421. And the last bullish push completed wave (5) and wave ((3)) at 2562. In mid-April, we started the correction of wave ((4)), ending after a month at 2346 forming a double correction. From this level, we are looking for another five waves to complete the cycle that started last year. So far the structure has 3 waves and we need 2 more to complete the impulse wave ((5)) and finish wave V and (III) in a higher degree. If there are not extensions in this latest wave, it should end around 2690, where we should see a pullback in 3, 7 or 11 swings to build a wave (IV) before continuing higher.

Wave ((5)) Extension

Wave ((5)) Extension

On the chart, we can see the different extensions that an impulse can have. You could even have all 3 extensions in one push. Regarding XU100 we already have an extension in wave ((3)), but it could be the case that there is another one in wave ((5)). (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory).

XU100 4 HOUR CHART JUNE 4th 2022 Alternative

XU100 4 HOUR CHART JUNE 4th 2022 Alternative

As we can see in this chart, by reaching around 2690 level, we are not completing wave ((5)), but rather wave (1) of ((5)) of a lesser degree. This extension would make the correction not as deep as we saw in wave (IV) of the previous chart, but it would be a shorter correction like wave (2) to then continue with the rally.

Source: https://elliottwave-forecast.com/stock-market/xu100-impulse-completed-extended/
 

Elliottwave-Forecast

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Feb 17, 2017
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WillScot Mobile Mini Holdings Corp., (WSC) provides work space & portable storage solutions in the US, Canada, Mexico & UK. The company leases modular space & portable storage units to customers in the commercial & industrial, construction, education, energy & natural resources, government & other end markets. It is based in Phoenix, Arizona, US, comes under Industrial sector & traders as “WSC” ticker.

In early 2020 global sell off, WSC made all time low at $7.45. Thereafter, it made all time high at $42.00 as impulse 5 swing sequence. Below there, it has ended 3 swing correction at $31.97 low & favors higher either in the next cycle up or larger 3 swing bounce.

WSC - Elliott Wave Latest Daily View :​

It made all time low at $7.45 on 3/19/2020. While above there, it started impulse sequence up & placed ((1)) at $18.74 high on 8/28/2020. It has ended ((2)) at $15.73 low on 9/24/2020 as a shallow correction. It favored ended ((3)) at $30.38 high on 4/29/2021 & placed ((4)) at $26.15 low on 7/19/2021 as 0.236 retracement against previous cycle. Finally, it ended ((5)) at $42.00 high on 1/05/2022 as impulse I red. While below there, it placed II at $31.97 low as 3 swing correction & resumes upside.

Below $42.00 high, it placed ((A)) at $34.95 low & ((B)) as flat correction at $40.73 high. While below there, it placed ((C)) as diagonal at $31.97 low towards equal leg area. Above there, it favors upside in wave 1 & later expect a pullback of 2 before upside resumes. It needs to breaks above $42.00 high to confirm III in progress to avoid a possibility of double correction in II. We like to buy the pullback in 3, 7 or 11 swings, once it confirms III in progress.

Source: https://elliottwave-forecast.com/stock-market/wsc-continue-to-resume-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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I always wondered why we as Analysts are so talented at Elliott Wave Forecast. We do not have a crystal ball to rub to give us an insight of the future nor are we psychic. This made me wonder even more what makes us so good at reading the market. Then I realised, we are talented because we know how to use the Elliott Wave Theory format to read the market.

Anyone can read a price chart, market goes either up, down or sideways, but does that give you any context? No. I tell you what does give you a complete context of the market, it is being able to count waves so you know what trend we are in, how deep we are in the trend and how long left of it.

H4 Timeframe - 19th May 2022​

FUFxYiLXwAEObzJ-1024x511.jpeg


More to the point is that we have been within the corrective cycle on ES since December 2021 highs. Since then price has been unfolding as a double correction. As you can see that wave ((Y)) was unfolding as a ZigZag pattern and we subsequently entered into wave (C)'s 5 wave sequence into the bluebox zone. So we reached equality at 3925 where we entered into the market to go long.

H4 Timeframe - 30th May 2022​

FUFxkt5XoAA63Yt-1024x511.jpeg


As of 30th May, you can see that we are currently in our way to unfolding in a 5 wave sequence to the upside which would complete wave 1. The main make it or break it situation would be if when wave 1 is done and we are unfolding wave 2. We would need to ensure that wave 2 does not breach through 3805 invalidation level. This would be a clear violation of the Elliott Wave Theory, wave 2 cannot breach through the origin of wave 1.

Source: https://elliottwave-forecast.com/stock-market/es-seems-bottomed-ready-another-rally/