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Cisco Systems CSCO is Showing Weakness to Build a Triple.

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Cisco Systems, Inc., commonly known as Cisco (CSCO), is an American-based multinational digital communications technology conglomerate corporation headquartered in San Jose, California. Cisco develops, manufactures, and sells networking hardware, software, telecommunications equipment and other high-technology services and products.

CSCO Daily Chart March 2024

CSCO Alternative Daily Chart March 2024

In the chart above, we can see a double correction structure formed from wave X. Down from 58.19 high, CSCO dropped in 3 swing ending wave (W) at 50.95. Wave (X) pullback did a small bounce at 53.50 high and continue lower. The movement was strong finishing at 44.70 to complete wave (Y) structure and also Wave ((W)) in higher degree. The market rallied and CSCO built wave ((X)) connector. Up from 44.70 low, market did 3 swings higher to end wave ((X)) at 52.86. From here, we expected to resume to the downside to develop a double correction structure as wave ((Y)). (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory).

CSCO Daily Chart August 2024

The chart above, it is showing the last daily update of CSCO. Currently, it is near to complete the double correction as wave ((Y)) that we were looking for. Down from wave ((X)) peak, we can see 3 swings lower ending wave (W) at 46.60 low. The market bounced sharply completing wave (X) at 50.11 high. Then, CSCO built 3 swings more to the downside and we expect to end wave (Y) below 44.64 low and also ((Y)). This correction is not enough to complete a wave y in red because the correction should break wave w that ended at 38.60 low. Therefore, we are calling another connector higher as wave ((X))((X)) to build a triple correction to break 38.60 low. Once wave ((X))((X)) is completed, CSCO should continue lower in a new double correction (W), (X), (Y) to develop wave ((Z)) and then resuming to the upside.

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Shopify (SHOP) is Nesting looking for a Rally

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Shopify Inc. is a Canadian multinational e-commerce company in Ottawa, Ontario. Shopify (SHOP) is the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems. The Shopify platform offers online retailers a suite of services including payments, marketing, shipping and customer engagement tools.

SHOP Daily Chart July 2023

SHOP Daily Chart July 2023

Shopify ended a Grand Supercycle in July 2021 and we labeled it as wave ((I)). Since then, It entered in a flat correction as wave ((II)). Three swings drop ended at 128.46 as Wave (a). Then market breaks above 164.88 in another 3 swings suggesting a possible flat correction and we labeled wave (b) at 176.49. Down from this price, SHOP built a perfect impulse lower completing a big short at 23.75 and we labeled as wave (c) and also wave ((II)). (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory).

A year ago, we built an impulse from 2022 low with an extension in wave III. At the end, we looked for a new extension in wave V to complete wave (I) while price action remains above 60.22 low. Then. the market should be rejected and turned lower in 3, 7 or 11 swings correction as wave (II) and continue the rally again. The view was valid as the market stays above 23.75.

SHOP Daily Chart July 2024

SHOP Daily Chart July 2024

In the chart, we can see that the extension in wave V did not work, ending at 71.43 high and also wave (I). The market broke below 60.22 indicating that wave (II) had arrived. This wave (II) developed a zig zag correction and ended at 45.50 low. From here, SHOP continued up ending another impulse as wave I at 94.57 high. Then, it did another correction and we called it wave II at 56.31 low forming the nest. Currently, we expect to continue up to complete another impulse like wave ((1)) and another correction ((2)) to make another nest until the market decides to reusme the rally. Now, The view was valid as the market stays above 56.31 low.

Elliott Wave Forecast  

www.elliottwave-forecast.com updates one-hour charts 4 times a day and 4-hour charts once a day for all our 78 instruments. We do a daily live session where we guide our clients on the right side of the market. In addition, we have a 24 hours chat room where we will help you with any questions about the market.

14 Days Trial costs $9.99 only. Cancel anytime at support@elliottwave-forecast.com

NASDAQ NQ_F: Another Ongoing Buying Setup with Partial Profits Taken

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In this technical article, we are going to present another Elliott Wave trading setup we got in NASDAQ Futures  (NQ_F) . The futures has extended pull back, giving us another buying opportunity. NQ_F completed correction at the Blue Box Area. In the next parts, we’ll explain the Elliott Wave pattern we saw and discuss the trading plan in detail.

NQ_F Elliott Wave 1  Hour  London Chart 04.05.2024

Current analysis indicates that NQ_F is nearing completion of wave ((iv)) pullback. The pullback has extended, and the price has reached a new extreme zone at 18057.25-17742.24.  Another short-term low would be ideal to complete 5 waves down within the (c) blue leg. Nevertheless, we’re already long from the Equal Legs level at 18057.25. With the main trend remaining bullish, we anticipate at least a 3-wave bounce from this area. Once the price retraces to the 50% Fibonacci level against the (b) blue connector, we’ll secure positions, set the stop loss at breakeven, and capture partial profits. A drop below the 1.618 Fibonacci extension level at 17742.24 would invalidate the trade.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

Quick reminder on how to trade our charts :

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

NQ_F

NQ_F Elliott Wave 1  Hour  London Chart 04.09.2024

We eventually experienced another slight push down in v of (c). As expected, the futures have found buyers and are showing a decent bounce from the Buying Zone. We consider the pullback ((iv)) black as completed at the 18052.49 low. Consequently, we’ve made our long positions risk-free: We’ve set our stop loss at breakeven and have already secured partial profits. Now, we’d like to see a break of the ((iii)) black peak to confirm that the next leg up is in progress. Alternatively, if the price breaks below the 18052.49 low, the futures will likely experience a deeper pullback. In that case, long positions will be stopped out at breakeven, and we’ll look to buy the dips again at the next set of equal legs.

Your risk management should be comprised of four parts:
-Small Losses
-Small wins
– Big wins
– Breakeven

Keep in mind that market is dynamic and presented view could have changed in the mean time.  You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

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

Elliott Wave Forecast

Thank you for exploring our Trading Setup of NQ_F with us. While we provide insights on 78 instruments, it’s important to note that not every chart is a trading recommendation. For our official trading recommendations, join us in our Live Trading Room where we provide actionable insights in real-time. If you’re not yet a member, take advantage of our 14-Day Trial now to access new trading opportunities.

Over time, we’ve honed a reputable trading strategy that accurately defines entry, stop loss, and take profit levels. By joining us, you’ll have the opportunity to learn from market experts and improve your trading skills.

Join us today !

📈 Elevate your trading with Elliott Wave Forecast!

🔍 Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.

📊 Gain exclusive access to our Official Trading Recommendations in the Live Trading Room, where seasoned experts provide valuable insights and guidance on new trading opportunities.

💰 For just $9.99, unlock a wealth of knowledge and experience with our 14-day Trial. Experience firsthand our proven trading strategy, which accurately defines Entry, Stop Loss, and Take Profit levels, empowering you to make informed decisions with confidence.

👉 Ready to take the next step? Sign up now and seize the opportunity to enhance your trading performance. Click here to start your Trial today!

NASDAQ Futures (NQ_F) Is Giving Us a Bounce from the Buying Zone

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Hello fellow traders. As our members know , NASDAQ has recently given us plenty of positive buying setups. In this article we’re going to present Elliott Wave charts of NQ_F published in the members area of the website.  NASDAQ made a clear 3 waves pull back that has unfolded as Elliott Wave Double Three pattern. It made clear 3 waves down from the February 23rd peak and completed correction right at the Equal Legs zone ( Blue Box Area) . In further text we’re going to explain the  Elliott Wave pattern  and trading setup.

NASDAQ Elliott Wave 1  Hour  Asia Chart 04.02.2024

The current view indicates that the intraday pullback is still in progress. We assume that the correction is unfolding as an Elliott Wave Double Three pattern with wxy red labeling. The price structure remains incomplete at the moment, suggesting further downside towards the 18322-18138.2 Blue Box Buying Zone. We don’t recommend selling NASDAQ; instead, we prefer positioning ourselves on the long side from the Blue Box area.  Once NQ_F reaches our designated buying zone, we expect an influx of buyers, potentially resulting in a rally towards new highs or a 3-wave bounce.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

Quick reminder on how to trade our charts :

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

NASDAQ

NASDAQ Elliott Wave 1  Hour  Chart 04.02.2024

The futures have experienced a drop and have reached our buying zone, the Blue Box: 18322-18138.2. We are entering long positions within the Blue Box against the marked invalidation level. As the main trend is bullish, we expect to see at least a 3-wave bounce from the Blue Box. As soon as the price hits the 50 fibs against the x red connector, we will make positions risk-free and set stop loss at breakeven. A break below the 1.618 Fibonacci extension level, 18138.2, would invalidate the trade.

NASDAQNASDAQ Elliott Wave 1  Hour  Chart 04.02.2024

The NASDAQ futures has found buyers as expected and is showing a very good reaction from the Blue Box Area. We count the pullback (ii) blue completed at the 17828 low. Consequently, any long positions should now be risk-free. We are anticipating a break of the (iii) blue peak to confirm that the next leg up is in progress.Alternatively, if the last short-term low is broken, then we may see a deeper pullback. In that case, we will look to buy the Futures again at the next set of equal legs

Keep in mind that market is dynamic and presented view could have changed in the mean time.  You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

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

 

NASDAQ

Elliott Wave Forecast

Thank you for exploring our Trading Setup of NQ_F with us. While we provide insights on 78 instruments, it’s important to note that not every chart is a trading recommendation. For our official trading recommendations, join us in our Live Trading Room where we provide actionable insights in real-time. If you’re not yet a member, take advantage of our 14-Day Trial now to access new trading opportunities.

Over time, we’ve honed a reputable trading strategy that accurately defines entry, stop loss, and take profit levels. By joining us, you’ll have the opportunity to learn from market experts and improve your trading skills.

Join us today !

📈 Elevate your trading with Elliott Wave Forecast!

🔍 Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.

📊 Gain exclusive access to our Official Trading Recommendations in the Live Trading Room, where seasoned experts provide valuable insights and guidance on new trading opportunities.

💰 For just $9.99, unlock a wealth of knowledge and experience with our 14-day Trial. Experience firsthand our proven trading strategy, which accurately defines Entry, Stop Loss, and Take Profit levels, empowering you to make informed decisions with confidence.

👉 Ready to take the next step? Sign up now and seize the opportunity to enhance your trading performance. Click here to start your Trial today!

NASDAQ Elliott Wave View: Extending Higher In Wave Three

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Short term Elliott wave in NASDAQ suggests that the cycle from March 05, 2021 low is unfolding as an impulse sequence. Up from March 05 low, the rally to $13287.25 high ended wave (1). Down from there, the pullback in wave (2) unfolded as a zigzag structure where wave A ended at $12681.75. Wave B bounce ended at $13172 high and wave C ended at $12609.42 low thus completed wave (2) pullback.

Above from there, the initial bounce in wave 1 unfolded as a diagonal where wave ((i)) ended at $12881 high. Wave ((ii)) ended at $12676.25 low, wave ((iii)) ended at $12988.50, wave ((iv)) ended at $12807.50 low and wave ((v)) ended at $13003 high. Then the pullback to $12776.50 low ended wave 2 & index has turned higher in a nest within wave 3 of (3) favoring more upside. Near-term, while dips remain above $12609.42 low expect index to extend higher in a nest looking for more upside towards $13689.46 -$14357.63 area higher before a pullback can take place. We don’t recommend selling the index and expect dips to find support in 3, 7, or 11 swings for further upside.

NASDAQ 1 Hour Elliott Wave Chart

NASDAQ Elliott Wave View: Extending Higher In Wave Three

NASDAQ Elliott Wave Video

Elliott Wave View: Nasdaq at Support Area

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Short Term Elliott Wave in Nasdaq (NQ) suggests the rally from September 21, 2020 low is unfolding as a 5 waves impulse Elliott Wave structure. In the chart below, we can see wave (4) ended at 12727.25. Index has resumed higher in wave (5) with subdivision as another 5 waves in lesser degree. Up from wave (4) low, wave ((i)) ended at 13584.5, and pullback in wave ((ii)) ended at 13345.25. Index then resumed higher in wave ((iii)) which ended at 13769.25 and pullback in wave ((iv)) ended at 13517.75. The final leg wave ((v)) ended at 13900.50 and this also completed wave 1 of (5) in higher degree

Wave 2 pullback is currently in progress to correct cycle from February 1, 2021 low before the rally resumes. Internal of wave 2 is unfolding as a zigzag where wave ((a)) ended at 13468 and bounce in wave ((b)) ended at 13729. The Index has reached potential support area for wave ((c)) at 100% – 161.8% Fibonacci extension of ((a))-((b)) which comes at 13032-13298. Expect Index to end wave ((c)) soon and buyers should appear at this area and the Index can see a new high or bounce in larger 3 waves at least. A move towards or below 161.8 extension at 13032 however increases the risk that the decline from February 16, 2021 high (13900.5) becomes impulsive. As far as pivot at 12727 low stays intact, expect Index to end wave 2 pullback soon and turns higher.

Nasdaq 60 Minutes Elliott Wave Chart

Nasdaq Elliott Wave Chart

Nasdaq (NQ_F) Elliott Wave Video