Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

Hello everyone! In today’s article, we’ll examine the recent performance of NVIDIA Corp. ($NVDA) through the lens of Elliott Wave Theory. We’ll review how the decline from the January 07, 2025, high unfolded as a 7-swing correction (WXY) and discuss our forecast for the next move. Let’s dive into the structure and expectations for this stock.

7 Swing WXY correction​

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$NVDA Daily Elliott Wave Chart 4.06.2025:​

In the Daily Elliott Wave count from April 06, 2025, we saw that $NVDA completed a 5-wave impulsive cycle at blue ((I)). As expected, this initial wave prompted a pullback. We anticipated this pullback to unfold in 7 swings, likely finding buyers in the equal legs area between $101.78 and $76.16.

This setup aligns with a typical Elliott Wave correction pattern (WXY), in which the market pauses briefly before resuming its primary trend.

$NVDA Daily Elliott Wave Chart 4.27.2025:​

The most recent update, from April 27, 2025, shows that the stock bounced as predicted. After the decline from the January peak, the stock is now finding support from the equal legs area. Currently, it is looking for 5 waves up in wave ((1)) followed by a pullback in wave ((2)). After that, the market is expected to continue higher in wave ((3)) of a renewed bullish cycle.

Conclusion​

In conclusion, our Elliott Wave analysis of NVIDIA Corp. ($NVDA) suggests that it remains supported against April 2025 lows. As a result, traders should buy the dips and monitor the $123 –$130 zone as the next potential target. In the meantime, 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...nvda-blue-box-area-offers-buying-opportunity/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the Elliott Wave Charts of the Facebook ticker symbol: META. We presented to members at the elliottwave-forecast. In which, the rally from the October 2022 low ended as an impulse structure. But higher time frame charts supported more upside extension to take place as the main trend remains bullish to the upside. Therefore, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

META Daily Elliott Wave Chart From 4.06.2025​

Here’s the Daily Elliott wave chart from the 4.06.2025 Weekend update. In which, the cycle from the October 2022 low ended as an impulse structure at $740.91 high. Down from there, the stock made a pullback to correct that cycle. The internals of that pullback unfolded as Elliott wave double three structure where wave ((W)) ended at $574.66 low. While wave ((X)) bounce ended at $633.88 high. Then wave ((Y)) managed to reach the blue box area at $467.35-$364.03 equal legs area. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

META Latest Daily Elliott Wave Chart From 4.27.2025​

This is the latest Daily Elliott wave Chart from the 4.27.2025 Weekend update. In which the stock shows a reaction higher taking place, right after ending the correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above the $740.91 high is still needed to confirm the next extension higher & avoid a double correction lower.

Source: https://elliottwave-forecast.com/stock-market/blue-box-blog-meta-elliott-wave-reactions/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to look at the Elliott Wave charts of Dow Futures (YM_F) published in members area of the website. As our members know, YM_F is trading within the cycle from the 36635 low. Recently, we forecasted the end of the short-term pull back and called for a further rally. In the following text, we’ll explain the Elliott Wave analysis and present target areas.

YM_F Elliott Wave 1 Hour Chart 04.21.2025​

Dow Jones Futures is forming a three-wave pullback which still looks incomplete at the moment. Our members know that we can easily identify the reversal area by measuring the Equal Legs zone, ((a)) related ((b)), which comes in at the 38531-37940 area. We expect buyers to appear within the mentioned zone and to see a further rally in Dow Jones YM_F from there.

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YM_F Elliott Wave 1 Hour Chart 04.21.2025​

YM_F found buyers as expected at the Equal Legs area and has delivered a decent rally so far. Now, we would like to see a break above the April 9th peak to confirm further extension to the upside toward the 41884+ zone.

Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room

Reminder for members: Our chat rooms in the membership area are available 24 hours a day, providing expert insights on market trends and Elliott Wave analysis. Don’t hesitate to reach out with any questions about the market, Elliott Wave patterns, or technical analysis. We’re here to help.

How well do you really know the stock market? Take this Stock Market Quiz and put your knowledge to the test!

​

Source: https://elliottwave-forecast.com/stock-market/dow-futures-ym_f-elliott-wave-2/

 

[Elliottwave-Forecast]

Hello traders and welcome to a new blog post where we discuss trade ideas that Elliottwave-Forecast members took recently. Members recently went long on the EURNZD currency pair and are now close to the first target. The post will discuss how we came about the setup and how we intend managing the trade.

EURNZD has maintained a bullish corrective cycle since the lows of April 2015. The structure evolving is a double zigzag pattern for wave ((IV)) of the supercycle degree of the all-time bearish cycle. Meanwhile, it should be noted that this wave ((IV)) has not yet reached the target. Often times, corrective structures reach the extreme we expect unless price dictates otherwise. So far nothing of such information from the price. Thus, we continue to look forward to a higher prices until wave ((IV)) ends at the extreme area. Meanwhile, while it's in progress, we explained to members why they should buy pullback in 3, 7 or 11 swing setup from the blue box. Thus, Group 2 members understand how to go about the trade. Good for us, a pullback emerged from the peak of April 2025. We were patient to see the pullback emerged into a clear 3-swing structure.

EURNZD Bullish Setup - 4.15.2025 Update​

On 15th April 2024, we shared the chart above with members. The expected pullback was for wave ((4)) of the cycle degree wave c from September 2024. Wave ((4)) evolved lower with a 3-swing structure. Wave (A) of ((4)) finished with an impulse structure while wave (B) finished with a zigzag. As expected, wave (C) completed another impulse structure in the blue box. Thus, wave ((4)) was making a clear A-B-C corrective structure. We identified the blue box between 1.8964-1.8477 as the extreme area. Thus, we advised the group 2 members to buy at 1.8964 and set stop at 1.8477. What happened in the following few days?

EURNZD Bullish Setup - 4.15.2025 Update​

EURNZD found support in the blue box as expected. Price significantly touched the zone and triggered buyers into position. We shared the chart above with members on 25th April 2025. The chart shows price reacting higher from the blue box. The first target for this trade is at 1.933. At 1.933, members will close half of their positions in profit and adjust the rest to breakeven while expecting an impulse rally to evolve for wave ((5)). Meanwhile, the final target will be at 2.027 where traders can close the rest of their positions.

However, if the bullish response is not an impulse structure, it should be at least a 3-swing bounce before turning lower to attempt a double correction for wave ((4)) much lower. After a 3-swing bounce, price should at least hit the first target. Thus, this will allow members to hold some profit while closing down risk. If a 7-swing setup eventually happens lower for ((4)), we will like to buy again at the new extreme.

This is how we like managing this trade. We will expect an impulse rally and also prepare for a deeper ((4)). Until the wave ((IV)) cycle from April 2015 reaches the extreme, we will continue to go long from the blue box on both the H1 and H4 charts.

Source: https://elliottwave-forecast.com/forex/eurnzd-bullish-blue-box-setup/

 

[Elliottwave-Forecast]

Royal Caribbean Cruises Ltd (NYSE: RCL), a top global cruise company, has overcome challenges and is poised for more growth. Since the 2020 crash, the stock has achieved remarkable growth, surging over +1000% and reaching new all-time highs. This impressive rally underscores its bullish momentum and resilience in overcoming past challenges. This article explores Elliott Wave analysis, revealing bullish patterns that could attract investors and traders alike.

RCL Weekly Chart​

Elliott Wave Analysis​

The above weekly chart of RCL shows an impulsive 3 waves move into new highs from wave ((II)) low $19. Wave (I) at $99, wave (II) at $31, wave (III) at $277 and recently it ended wave (IV) pullback at $164. Consequently, the current sequence is incomplete and it's expected to rally higher in wave (V) of ((III)) before a larger correction takes place in wave ((IV)). The next upward leg targets the Fibonacci extension range of $304 - $348. This signals continued bullish momentum in RCL's structure.

Conclusion​

The bullish Grand Super Cycle for RCL is ongoing, suggesting opportunities to buy daily and weekly corrective pullbacks using our Elliott Wave strategy. The ideal approach involves purchasing after the stock completes a 3, 7, or 11 swing sequence from its peak. Leveraging our extreme Blue Box system helps pinpoint optimal entry points, ensuring clarity and accuracy in trading decisions. Explore our system to gain deeper insights into this methodology.

Source: https://elliottwave-forecast.com/stock-market/rcl-bullish-breakout/

 

[Elliottwave-Forecast]

Adani Enterprises Elliott Wave Analysis: Wave IV Pullback Could Offer a Major Buying Opportunity​

Adani Enterprises is undergoing a deep correction. Our Elliott Wave analysis suggests this is part of a higher-degree Wave IV pullback. The stock saw a strong rally in Wave III, which peaked in 2022. Since then, the price has been correcting in a three-wave structure labeled as ((A))-((B))-((C)).

We believe the Wave IV correction is not yet complete. Based on our analysis, we expect the stock to move lower within the ideal blue box area. This area lies between ₹894 and ₹369. The blue box marks a high-probability buying zone, where buyers may re-enter the market. The lower boundary of this box represents the 1.618 Fibonacci extension of wave ((A)).

So far, the correction appears impulsive. The internal structure of wave ((C)) is unfolding as a five-wave decline. We are about to completed sub wave (1) followed by a 3, 7 or 11 swings pull back. While the pull back in (2) remains below the recent top, we could expect it to extend lower in wave (3) following (4) and one final push lower in wave (5) would ideally complete the entire correction.



Once wave IV is complete, we expect Adani Enterprises to resume its long-term uptrend in wave V. Our long-term outlook remains bullish, and we do not recommend selling. Instead, we advise patience and discipline while waiting for the blue box zone to be reached.

At Elliott Wave Forecast, we trade in the direction of the Right Side tags. Currently, the long-term Right Side tag remains bullish. This supports our expectation for another strong rally after this correction ends.

Summary:​

In summary, the current correction offers an opportunity. A move into the blue box area may present a low-risk, high-reward trade setup for the next bullish cycle.

Source: https://elliottwave-forecast.com/st...recast-wave-iv-correction-nearing-completion/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to look at the Elliott Wave charts of EURUSD Forex pair published in members area of the website. As our members know, EUR/USD is undergoing a three-wave pullback against the March 26th low. Recently, we forecasted the decline in the pair following a three-wave bounce. In the following text, we’ll explain the Elliott Wave analysis and outline the target areas.

EURUSD Elliott Wave 1 Hour Chart 04.28.2025​

The current view suggests that EUR/USD is correcting the cycle from the March 26th low. We count the ((x)) connector as completed at the 1.1444 high. While the price remains below that level, we expect to see another leg down to complete the wave 4 (red) correction.

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EURUSD Elliott Wave 1 Hour Chart 05.01.2025​

The price held the 1.1444 peak and then declined. Eventually, it broke the previous low ((w)) black, confirming that the next leg down is in progress. The next technical zone comes in the 1.12755–1.1236 area, which might give us a three-wave bounce before the pair reaches the main target at the 1.11727 area ( buyers zone).

Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room

Reminder for members: Our chat rooms in the membership area are available 24 hours a day, providing expert insights on market trends and Elliott Wave analysis. Don’t hesitate to reach out with any questions about the market, Elliott Wave patterns, or technical analysis. We’re here to help.

How well do you really know the stock market? Take this Stock Market Quiz and put your knowledge to the test!



Source: https://elliottwave-forecast.com/forex/eurusd-elliott-wave-double-three/

 

[Elliottwave-Forecast]

Hello fellow traders. In this technical article we’re going to look at the Elliott Wave charts of Dollar Index DXY published in members area of the website. As our members know, DXY is forming a correction against the 103.56 peak. In the following text, we’ll explain the Elliott Wave analysis and outline the target areas.

DXY Elliott Wave 1 Hour Chart 04.28.2025​

The current view suggests that the US Dollar Index is correcting the cycle from the 103.56 peak.We count five waves in the rally from the low, indicating that we have completed only the first leg of a potential correction, labeled as wave ((a)) in black.
The market is currently forming wave ((b)), which could reach the 99.18–98.75 area.In this zone, we expect buyers to appear for a potential final push higher in wave ((c)), as proposed on the chart.

New to Elliott Wave? You can learn more about Elliott Wave Patterns at our​

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DXY Elliott Wave 1 Hour Chart 04.28.2025​

Dollar found buyers at 99.18–98.75 area as expected. It made decent rally that broke the previous peak ((a)) , confirming that the next leg up is in progress - ((c)). Dollar can see 100.97-102.26 area before sellers appear again.

Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room

Reminder for members: Our chat rooms in the membership area are available 24 hours a day, providing expert insights on market trends and Elliott Wave analysis. Don’t hesitate to reach out with any questions about the market, Elliott Wave patterns, or technical analysis. We’re here to help.



Source: https://elliottwave-forecast.com/elliottwave/dollar-index-dxy-elliott-wave-zig-zag-2/

 

[Elliottwave-Forecast]

The Indian rupee USDINR has been experiencing notable fluctuations in recent months. As of today, the rupee has strengthened to 84 per US dollar, marking its highest level since October 2024. This appreciation is driven by heavy selling of the dollar by foreign banks and consistent foreign fund inflows.

Key Factors Influencing the Rupee:​

• Foreign Investments: Increased foreign direct investment (FDI) and portfolio inflows have contributed to the rupee’s strength.
• Global Trade Developments: The possibility of China-US trade talks has improved investor sentiment, benefiting Asian currencies, including the rupee.
• Domestic Economic Indicators: India’s manufacturing PMI has risen to a 10-month high, reflecting strong demand and healthy order books.
• Geopolitical Considerations: Tensions between India and Pakistan have led to some volatility, but optimism over a potential US-India trade deal has helped stabilize the rupee.
• Oil Prices: A decline in crude oil prices has supported the rupee, reducing India’s import bill.

Monthly USDINR Chart November 2024​

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A few months ago, the price movement had formed a wave (iv) triangle instead of the flat correction we had thought before. After that, the pair had moved up, creating wave (v) of ((iii)).

If this wave pattern had been correct and there had been no extension movement, then wave (v) of ((iii)) should have finished in the 84.00 - 85.00 range. Because of this, a price pullback from those levels as wave ((iv)) would not have been surprising.

Also, if this correction had happened in 3, 7, or 11 moves, it would have been a chance to buy and aim for 88.26. In the end, even if there had been no pullback, the final target would still be 88.26.

Monthly USDINR Chart May 2025​

Scenario 1:​

The current analysis shows that wave (v) of ((iii)) extended to 87.97, missing the target by 29 cents, before reversing lower. The correction in wave ((iv)) nearly reached the 100% Fibonacci extension at 83.76, and then strongly rebounded, suggesting that wave ((iv)) has likely been completed.

As a result, USDINR should continue its upward movement in wave ((v)), ideally reaching the 89.06 - 90.72 range—assuming there are no further extensions in wave ((v)). At this level, the strength of the dollar is expected to be rejected by the market, completing wave 3 and starting the correction in wave 4.

Furthermore, wave 4 should test the support of the previous wave ((iv)) before the upward momentum resumes in wave 5. This progression will confirm the continuation of the bullish trend.

Scenario 2:​

The next scenario is similar to the first, but wave 3 was already completed at 87.97, and wave 4 ended at 83.76. Therefore, the market is expected to rise toward 89.06 - 90.72 to finish wave (3) and begin wave (4) if no extensions occur. However, the key difference lies in wave (4)’s correction, which should be deeper and test the 2022-2023 triangle zone between 83.00 - 80.40. This zone should act as support, allowing the bullish momentum to continue upward.

Source: https://elliottwave-forecast.com/forex/usdinr-elliott-wave-signal-eyeing-fresh-highs/

 

[Elliottwave-Forecast]

Eli Lilly & Company (LLY) discovers, develops & markets human pharmaceuticals worldwide. It comes under Healthcare sector & trades as “LLY” ticket at NYSE.

LLY is bullish in weekly sequence from all time low. It favors rally in (V) after double correction ended at $677.09 low in April-2025 low. It favors rally to continue in (V) of ((III)) towards $1155 or higher levels against 4.07.2025 low. Further rally confirms above $972.53 high.

LLY - Elliott Wave Latest Weekly View:​

In weekly, it favors rally within the sequence from March-2009 low & expect one more push higher to finish it. In weekly, it placed (I) at $92.85 high in October-2015 & (II) at $64.18 low in November-2016. It ended extended (III) sequence at $972.53 high in August-2024 high & (IV) at $677.09 low as double correction. Within (III), it placed I at $130.75 high, II at $101.36 low, III at $966.10 high, IV at $747.55 low & V at $972.53 high. Below (III) high, it placed w as 3 swings at $711.40 low, x at $935.63 high & y at $677.09 low as (IV) on 4.07.2025.

LLY - Elliott Wave Latest Daily View:​

The double correction in (IV) missed the daily extreme area with small margin & turned higher. It ended ((1)) of I at $902.50 high & favors pullback in ((2)) against 4.07.2025 low. Further upside will confirm above $972.53 high & can extend towards $1155 or higher levels. Short term, it favors bounce in (B) of ((2)), which may fail below 4.30.2025 high before (C) down against 4.07.2025 low. As long as it stays above 4.07.2025 low, it should remain supported & rally to new high. Buyers can look to buy the next opportunities in 3, 7 or 11 swings, once it confirms new high.

Source: https://elliottwave-forecast.com/stock-market/lly-favors-rally-targeting-new-weekly-high/

 

[Elliottwave-Forecast]

Pan American Silver Corp. (PAAS) is a mining company based in Vancouver, Canada, focused on silver, gold, zinc, lead, and copper. Founded in 1979, it handles exploration, development, extraction, processing, and refining. The company operates in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. Below we will take a look at the Elliott Wave technical outlook.

PAAS Monthly Elliott Wave Chart​

The monthly Elliott Wave chart for Pan American Silver (PAAS) indicates that the wave ((II)) pullback concluded at $5.89 in January 2016. Since then, the stock has begun advancing in wave ((III)). From the wave ((II)) low, wave (I) peaked at $40.11, followed by a wave (II) pullback that bottomed at $12.16. The stock has now resumed its upward trend in wave (III). Within this wave, wave I reached $28.60, with a subsequent wave II pullback ending at $20.55. As long as the $5.89 low holds, the stock is expected to continue rising.

PAAS Daily Elliott Wave Chart​

The daily Elliott Wave chart for Pan American Silver (PAAS) indicates that the wave (II) pullback concluded at $12.19. From this low, the stock began an upward move in wave I, structured as a diagonal pattern. Within wave I, wave ((1)) peaked at $24.27, followed by a wave ((2)) pullback to $17.86. The stock then climbed in wave ((3)) to $26.05, with a wave ((4)) dip ending at $19.80. The final wave ((5)) completed wave I at $27.47. A subsequent wave II pullback ended at $20.55. As long as the $12.19 low remains intact, the stock is expected to continue rising.

Source: https://elliottwave-forecast.com/st...-pullback-nearing-end-upside-potential-ahead/

 

[Elliottwave-Forecast]

Carvana Co (NYSE: CVNA) has rebounded impressively over the past 2 years after a 98% decline between 2021 and 2022. The stock recovered most of its losses, forming a strong impulsive structure that signals further upside potential. With a continuation pattern in place, CVNA appears poised to challenge new all-time highs. This article delves into Elliott Wave analysis, uncovering bullish formations that could appeal to both investors and traders.

CVNA Weekly Chart​

Elliott Wave Analysis​

The weekly chart of CVNA illustrates an impulsive 5-wave move from the wave ((II)) low at $3.62. The stock surged 8000%, completing wave (I) at $292, followed by a 3-wave corrective pullback in wave ((II)), bottoming at $142.
Subsequently, CVNA initiated its next bullish phase in wave (III), aiming to break above the February 2025 peak to confirm its upward structure. Most importantly, if the stock establishes a bullish sequence, the next leg targets the Fibonacci extension range of $437 – $505. Consequently, this signals sustained bullish momentum toward new all-time highs.

Conclusion​

The bullish Super Cycle for CVNA remains in progress, presenting opportunities to buy daily and weekly corrective pullbacks using our Elliott Wave strategy. The preferred approach is to enter positions after the stock completes a 3, 7, or 11 swing sequence from its peak. Additionally, utilizing our extreme Blue Box system refines entry points, providing clarity and precision in trading decisions. Explore our system to gain deeper insights into this methodology.

Source: https://elliottwave-forecast.com/stock-market/carvana-cvna-bullish-cycle/

 

[Elliottwave-Forecast]

Hello traders and welcome to a new blog post where we discuss recent trades from the blue box. Elliottwave-forecast members took a short trade on USDSGD currency pair as one of the first trades in May 2025. Let's look at what the setup looks like for educational purposes.

Since January 2025, the dollar has faced a significant sell-off after completing the bullish cycle from July 2023. Meanwhile, this sell-off was part of the continuation of the larger bearish cycle from September 2022. At the mature stage of the impulse sequence from January, we recommended selling dollar bounces to our members. In a clear bearish sequence, we favor selling bounces.

Meanwhile, the USDSGD pair was one of the dollar pairs exhibiting a 3/7 swing bounce. Therefore, we aimed to sell the dollar against the Singaporean Dollar (i.e., the USDSGD pair). It is important to note that selling USDSGD was based on a thorough independent analysis of the pair.

From a long-term perspective, USDSGD completed a 5-wave decline from its record high. After this 5-wave decline ended in July 2011, a 3-wave corrective cycle was expected to follow—upside in this case. The bullish corrective cycle from July 2011 completed its first leg—supercycle degree wave (a)—in March 2020. Since March 2020, the supercycle degree wave (b) has been moving lower to correct the rally from July 2011. After completing a 5-swing sequence in September 2024, the pair bounced to correct it. This corrective bounce ended in January 2025, followed by a significant sell-off primarily driven by a bearish dollar.

USDSGD Blue Box Setup: 2nd May, 2025 Update​

[caption id="attachment_960422" align="aligncenter" width="1024"] USDSGD H1 Chart[/caption]
On May 2, 2025, we identified a clear corrective bounce emerging after the price broke below the lows of April 2025. We marked the 1.2998–1.3044 range as the blue box zone where new sellers would likely appear and/or existing sellers might add to their positions. Therefore, we recommended to our members to sell the pair from this zone, with a stop slightly above 1.3044.

We anticipated taking profits within the 1.2892–1.2878 range, expecting it to be a short-term, fast trade.

USDSGD Blue Box Setup: 7th May, 2025 Update​

[caption id="attachment_960423" align="aligncenter" width="1024"] USDSGD H1 Chart[/caption]
On May 7, 2025, we shared the chart above with members (partial labels shown). The price displayed a perfect reaction from the blue box as members went short from that area. Short positions were triggered within the blue box on May 2. Subsequently, on May 5, 2025, price hit the target zone, allowing members to book 100–120 pips in profits in just five days.

What’s Next for USDSGD?​

While the dollar’s bearish cycle from September 2022 remains incomplete, we intend to continue selling bounces on this pair and related pairs. We have our own method of determining when a cycle ends and another begins. When the current bearish cycle on the dollar concludes, members will be informed and can adjust their expectations while preparing for the next cycle.

Source: https://elliottwave-forecast.com/bluebox-wins/usdsgd-blue-box-yields-130-pips/

 

[Elliottwave-Forecast]

Constellation Energy resumes its uptrend after completing wave IV. Bullish Elliott Wave structure points toward a strong wave V rally.​

Constellation Energy Corporation (CEG) has completed a textbook Elliott Wave correction and appears to have resumed its bullish trend. The stock experienced a powerful advance from mid-2022, which unfolded in five clear waves, completing a higher-degree wave III around early 2024.

Following that rally, CEG entered a corrective phase. The decline unfolded in a classic three-wave structure labeled as ((A))-((B))-((C)). This correction likely ended wave IV, completing around $161.33. The internal subdivision of wave ((C)) shows a clear five-wave move down, supporting the idea that the correction is done.



Since then, the price has bounced sharply, indicating that wave V may already be underway. Early price action shows a developing five-wave structure. Wave (1) and (2) appear to be in place, and wave (3) is likely in progress. This aligns with the bullish Right Side tag on the chart.

We do not recommend selling, as the dominant trend remains to the upside. The invalidation level stands far below at $71.21. As long as the stock stays above this level, the bullish view remains valid. The dotted lines suggest a projection path for the next impulse higher, potentially targeting levels above $360 in wave V.

Our strategy is to trade in the direction of the Right Side tag and only take positions during pullbacks into blue box areas. At this stage, we favor long positions on dips, ideally in wave (2) or wave (4) of the ongoing sequence.

Summary:​

In summary, the wave IV correction is likely complete, and wave V has probably started. With a strong technical structure and bullish momentum, Constellation Energy remains a high-potential name to watch in the coming weeks and months.

Source: https://elliottwave-forecast.com/st...eg-elliott-wave-update-wave-v-likely-started/

 

[Elliottwave-Forecast]

Lam Research (LRCX) remains bullish despite a corrective wave IV. Elliott Wave analysis suggests further upside potential as wave V approaches.​

Lam Research Corporation (LRCX) shows a strong long-term bullish trend based on Elliott Wave analysis. The multi-decade chart highlights a clear impulsive structure that began in the early 2000s. After finishing a large corrective move, labeled as cycle wave II, the stock began a steady and powerful rally.

Wave III topped with a well-defined five-wave pattern from the 2009 low. The chart shows strong momentum and clean internal subdivisions, supporting the view of an extended bullish phase. Now, Lam Research is undergoing a correction in wave IV, which appears to form a double zigzag. The corrective sequence is labeled as ((W))-((X))-((Y)).



The key support lies at $0.6604. As long as the price stays above this level, the bullish view remains valid. The chart features a Right Side tag and a clear note: “We Do Not Recommend Selling.” This signals that the trend remains up and traders should not go against it. Pullbacks like the current one offer a chance to enter at better prices, not a reason to exit.

Wave IV is still in progress, but once it completes, wave V should begin. This final leg is expected to break into new all-time highs. While exact timing is uncertain, the setup continues to favor buyers over the long run.

Source: https://elliottwave-forecast.com/st...lish-trend-intact-despite-ongoing-correction/

 

[Elliottwave-Forecast]

Wells Fargo & Company (WFC) provides diversified banking, investment, mortgage, consumer & commercial finance products & services in United States & globally. It operates through four segments; Consumer banking & lending, Commercial banking, Corporate & Investment banking & Wealth management. It comes under Financial services sector & trades as “WFC” ticker at NYSE.

WFC is trading in bullish Elliott wave sequence from October-2020 low. It favors rally in ((3)) of III against 4.07.2025 low. Further rally above February-2025 high will confirm more upside.

WFC - Elliott Wave Latest Weekly View:​

Above October-2020 low of (II) at $20.76, it rallies in bullish (III) sequence as proposed nest. It placed I of (III) at $60.30 high in February-2022. Within I, it ended ((1)) at $35.10 high, ((2)) at $29.68 low, ((3)) at $48.13 high, ((4)) at $41.47 low & ((5)) as diagonal at $60.30 high. It placed ((A)) of II at $36.54 low, ((B)) at $48.84 high & ((C)) as truncation at $35.25 low ended in March-2023. Above II low, it placed ((1)) of III at $81.50 high in February-2025 & proposed ended ((2)) at $58.42 low. Within ((1)), it ended (1) at $47.24 high, (2) at $38.38 low, (3) at $62.55 high, (4) at $50.15 low & (5) at $81.50 high.

It corrected lower in zigzag structure in ((2)), ended at $58.42 low on 4.07.2025. Within ((2)), it placed (A) at $65.52 low, (B) at $75.38 high & (C) at $58.42 low in extreme area. Currently, it favors rally in nine swings in (1) from 4.07.2025 low & expects upside before next pullback. Above 4.07.2025 low, it should see major rally in ((3)) of III, which confirm above $81.50 high. The next rally should erase the momentum divergence against ((1)) to confirm the nest.

Few alternates possible as well. (1) If the high comes with momentum divergence above February-2025 & fail below 4.07.2025 low. Then it can be diagonal in I from October-2020 low before pullback. (2) If it breaks below $58.42 low, it can do double in ((2)) against March-2023 low before resume higher. We like to buy the pullback in 3, 7 or 11 swings if breaks above February-2025 high or if doing a double in ((2)).

Source: https://elliottwave-forecast.com/stock-market/wells-fargo-wfc-setting-major-rally/

 

[Elliottwave-Forecast]

Cameco Corporation (CCJ), headquartered in Saskatoon, is a leading uranium producer with significant global mining operations. As a key player in the nuclear energy sector, its performance is closely linked to uranium prices and regulatory developments. Below is a clear and accessible Elliott Wave technical update for Cameco’s stock:

Cameco ($CCJ) Monthly Elliott Wave Chart​

The monthly Elliott Wave chart for Cameco shows that the stock completed a significant long-term correction, labelled as wave (II), at a low of $5.30. From there, Cameco embarked on a new bullish cycle, poised for further gains in the years ahead. The stock is currently in wave (III), marked by a strong upward trend. Starting from the wave (II) low, wave ((1)) peaked at $28.49, followed by a pullback in wave ((2)) to $18.03. Wave ((3)) then climbed to $56.24, with a subsequent dip in wave ((4)) to $35.43. The final leg, wave ((5)), reached $62.55, completing wave I of a larger degree. A correction in wave II brought the price to $35. As long as the stock stays above $5.30, the outlook remains bullish, with expectations of continued upward momentum.

$CCJ Daily Elliott Wave Chart​

The daily Elliott Wave chart for Cameco (CCJ) indicates that the stock completed its wave I rally at a peak of $62.55, marking the end of an upward move that began at the March 2020 low. Following this, the stock experienced a notable pullback in wave II, which bottomed out at $35.03. Since then, Cameco has turned upward, rallying strongly from the $35.03 low in a manner that appears impulsive, suggesting potential for further gains. However, for the stock to confirm a sustained bullish trend and rule out a potential double correction, it must break above the wave I peak of $62.55.

Source: https://elliottwave-forecast.com/stock-market/cameco-ccj-ended-correction-resumed-higher/

 

[Elliottwave-Forecast]

Hello everyone! In today’s article, we’ll examine the recent performance of NVIDIA Corp. ($NVDA) through the lens of Elliott Wave Theory. We’ll review how the rally from the April 21, 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 stock.

5 Wave Impulse + 7 Swing WXY correction​

$NVDA 1H Elliott Wave Chart 4.30.2025:​

In the 1-hour Elliott Wave count from April 30, 2025, we saw that $NVDA 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 equal legs area between $104.21 and $100.56.

This setup aligns with a typical Elliott Wave correction pattern (WXY), in which the market pauses briefly before resuming its primary trend.

$NVDA 1H Elliott Wave Chart 5.13.2025:​

The most recent update, from May 13, 2025, shows that the stock bounced as predicted. Currently, it is trading higher in wave 3 looking for continuation higher towards 124 - 142 area before another pullback can happen.

Conclusion​

In conclusion, our Elliott Wave analysis of NVIDIA Corp. ($NVDA) suggests that it remains supported against April 2025 lows. As a result, traders should buy the dips and monitor the $124 –$142 zone as the next potential target. In the meantime, 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...-extreme-areas-offering-buying-opportunities/

 

[Elliottwave-Forecast]

GBPUSD resumes the bullish cycle from the blue box to give sellers warnings. The pair is still within an incomplete bullish cycle from from September 2022. This blog post shares the setup that gave the Elliottwave-Forecast members the clues on where to buy.

GBPUSD has been on a bullish cycle since October 2022, albeit a corrective one. This bullish cycle is correcting the long-term sell-off from November 2007. If not correcting the cycle from such a long time, then it is at least correcting the bearish run from May 2021. From the low of September 2022, where this cycle started, we expect a 3-swing bounce first and possibly a 7-swing later. Meanwhile, the 3-swing bounce has not yet reached the extreme. Thus, buyers should continue to dominate from the dip. That’s the short to medium-term idea our charts are showing to members. In a bullish sequence like this, we like buying pullbacks in 3, 7, or 11 swings from the blue box. Conversely, we like selling 3, 7, or 11-swing bounces from the blue box when the sequence is bearish.

In this post, we are going to look at the most recent long setup members took from the blue box. From the low of September 2022, we already counted a 5-3 of a proposed 5-3-5 completed. The 5-waves rally finished on 10th July 2023. Afterwards, a 3-wave flat structure corrected it and finished on 13th January 2025. From the low of January, we expected another 5-waves structure for the 3rd leg of the cycle from September 2022, to complete the 5-3-5 corrective cycle. On the shorter cycles, we counted waves (1) and (2) of the proposed impulse sequence for the 3rd leg as completed. The price then breached above the previous high. Thus, we alerted members to buy the 3/7 or 11-swing pullback at the blue box

GBPUSD Bullish Setup - 13th May 2025 Update​

[caption id="attachment_960809" align="alignnone" width="1024"] GBPUSD, H1[/caption]
On 13th January 2025, we shared the GBPUSD H1 chart above. In the previous days, we shared charts that showed the price before it entered the blue box. At the blue box, members went long with a stop below 1.31. Additionally, we shared how to manage the trade with members in our daily live trading room and daily analysis videos.

GBPUSD Bullish Setup - Later on 13th May 2025 ​

[caption id="attachment_960813" align="aligncenter" width="1024"] GBPUSD, H1[/caption]
We shared the chart above with members later on 13th May. The chart shows a fast bullish reaction from the blue box that put buyers in profit. Members have already closed half of their position in profit and are holding the rest to capture more gains if wave 3 pushes for an impulse, as we expect. You can also join us to trade the blue box on 78 instruments.

Source: https://elliottwave-forecast.com/bluebox-wins/gbpusd-soars-160-pips-from-blue-box/

 

[Elliottwave-Forecast]

The VanEck Semiconductor ETF (SMH) gives investors access to 25 major U.S.-listed semiconductor companies. The fund includes NVIDIA, Taiwan Semiconductor, Broadcom, Texas Instruments, QUALCOMM, ASML Holding, Applied Materials, Lam Research, Micron Technology, and AMD.

Analysts view SMH as a strong investment in a sector driving advancements in AI, cloud computing, and high-performance computing. While volatile, experts emphasize long-term growth, supported by rising demand for AI, 5G, and autonomous vehicles. Despite market fluctuations, SMH often outperforms when investor sentiment improves.

Investors closely monitor global supply chains, trade policies, and new chip innovations, which could shape future growth. With these factors influencing the market, SMH remains an attractive option for exposure to the semiconductor industry.

Last SMH Daily Chart January 16th​

Earlier this year, on January 16, 2025, we analyzed the VanEck Semiconductor ETF (SMH) and observed its sideways movement between $230 and $260 in the daily timeframe. As expected, the market rallied from $222.20, but momentum failed to break previous highs or reach the $269.50 level. Consequently, we adjusted our chart and identified Wave I as a leading diagonal that ended at $262.26. Since October 2024, the price traded within a Wave II correction, which we classified as a running flat correction.

At that time, we believed Wave III had already started, with Wave ((1)) of III topping at $257.20 before entering a Wave ((2)) pullback. As long as price action held above $240.62, we expected a bullish move targeting a break above $283.07.

However, while we favored the running flat correction scenario for Wave II, we acknowledged the possibility of an expanded flat correction. If the market had fallen below $240.62, SMH would have likely extended its decline toward the $235.29 - $228.61 range before completing Wave II and resuming its upward trend.

SMH Daily Chart May 13th​

In our latest update, we observed that the zigzag correction (a, b, c) failed, leading to a double correction (w, x, y). This aligns with the fundamental concept that corrections move in 3, 7, or 11 swings, forming a simple correction, a double correction, or a triple correction. As analysts, we must assess which of these three scenarios is most likely to occur.

When wave (C) of ((W)) broke below wave (A), it served as an early signal that a double correction might unfold. This was later confirmed when the August 2024 low was breached. From the wave (III) high, the first leg of the double correction formed as a zigzag, ending wave w at 200.49. Following that, another zigzag pattern developed, featuring two diagonals' structures one leading and one ending which marked the completion of wave x at 269.66. Finally, the double correction in wave y wrapped up at 170.11, completing wave (IV) within the Fibonacci extension zone of 186.80 - 167.22 (100% - 123%).

Current Outlook & Strategy​

At present, it is clear that SMH is developing an impulse from the 170.11 low. The primary expectation is for the upward movement to persist, supported by corrections in 3, 7, or 11 swings. Given this setup, the best strategy is to buy the dips, as the bullish trend remains intact.

Looking ahead, we are targeting the 309.83 - 353.03 zone as a potential area for wave (V) to complete. Once SMH reaches this range, a more significant correction in the market could follow.

Be good and Trade Smart!

Source: https://elliottwave-forecast.com/stock-market/smh-finds-support-rally-motion/