trading setup Archives - Page 9 of 10

XAUUSD Perfectly Reacting Higher From The Blue Box Area

October 14, 2024 By Hassan Sheikh

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of the XAUUSD. The rally from the 25 July 2024 low showed a higher high sequence & provided a short-term opportunity at the blue box area. In this case, the pullback managed to reach the blue box area & provided a perfect reaction higher. So, we advised members not to sell Gold but to buy the blue box area for a minimum reaction higher to happen. We will explain the structure & forecast below:

XAUUSD 1-Hour Chart From 10.08.2024 NY Update

Here’s the 1-hour Elliott wave Chart from the 10.08.2024 NY update. In which, the rally to $2685.58 high ended wave 3 & made a pullback in wave 4. The internals of that pullback unfolded as Elliott wave double three structure where wave ((w)) ended at $2624.54 low. Then a short-term bounce to $2673.14 high-ended wave ((x)) & started the next leg lower in wave ((y)) towards $2611.86- $2573.73 equal legs area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

XAUUSD Latest 1-Hour Chart From 10.14.2024 NY Update

Above is the Latest 1-hour Elliott Wave Chart from the 10.14.2024 NY update. In which the metal is showing a perfect reaction higher taking place from the equal legs area. Right after ending the double correction. Allowed members to create a risk-free position shortly after taking a long position. But a break above $2685.58 high would still be needed to confirm the next leg higher minimum towards the $2705.22- $2737.27 area & avoid double correction lower.

If you are looking for real-time analysis in Gold along with the other commodities then join us with a 14-Day Trial for the latest updates & price action.

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Gold Found Buyers Once Again At The Blue Box Area

October 7, 2024 By Hassan Sheikh

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of the Gold. The rally from the 25 July 2024 low showed a higher high sequence & provided a short-term extreme trading opportunity. In this case, the pullback managed to reach the equal legs area & provided a perfect reaction higher. So, we advised members not to sell Gold but to buy the blue box area for a minimum reaction higher to happen. We will explain the structure & forecast below:

Gold 1-Hour Elliott Wave Chart From 9.30.2024

Here’s the 1-hour Elliott wave Chart from the 09/30/2024 NY update. In which, the rally to $2685.58 high ended wave 3 & made a pullback in wave 4. The internals of that pullback unfolded as Elliott wave double three structure where wave ((w)) ended at $2643.02 low. Then a short-term bounce to $2665.99 high-ended wave ((x)) & started the next leg lower in wave ((y)) towards $2623.88- $2597.89 equal legs area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

Gold Latest 1-Hour Elliott Wave Chart From 10.07.2024

Above is the Latest 1-hour Elliott Wave Chart from the 10.07.2024 London update. In which the metal is showing a perfect reaction higher taking place from the equal legs area. Right after ending the correction. Allowed members to create a risk-free position shortly after taking a long position. But a break above $2685.58 high would still be needed to confirm the next leg higher minimum towards the $2699.74- $2723.00 area & avoid double correction lower.

If you are looking for real-time analysis in Gold along with the other Forex pairs then join us with a 14-Day Trial for the latest updates & price action.

XLF Reaction Before & After Reaching The Blue Box Area

September 16, 2024 By Hassan Sheikh

In this technical blog, we are going to take a look at the past performance of 1 hour Elliott Wave Charts of XLF a Financial ETF, which we presented to members at elliottwave-forecast.com. In which, the rally from 05 August 2024 lows, showed the higher high sequence in higher time frame charts favored more strength. Also, the right side tag pointed higher against $40.50 low seen on 8.05.2024 low called for more upside. We will explain the structure & forecast below:

XLF 1-Hour Elliott Wave Chart From 9.11.2024

XLF 1 hour Elliott Wave Chart from 9.11.2024 Post-Market update, in which the ETF ended the 5 waves rally from 8.05.2024 low at $45.88 high. Down from there, the XLF made a pullback to correct that cycle. The pullback unfolded as a double three structure and managed to reach $43.57-$42.52 100%-161.8% Fibonacci extension area of W-X. Thus provided buying opportunity to our members at the blue box area looking for the next extension higher or for 3 wave reaction higher at least.

XLF 1-Hour Elliott Wave Chart From 9.15.2024

Here’s 1 Hour Elliott Wave Chart from 9.15.2024 Weekend update, in which the ETF is showing reaction higher taking place from the blue box area. And shortly after taking the trade the ETF bounced strongly & allowed longs to get into a risk-free position. However, a break above $45.88 area is yet to be seen to confirm the next extension higher & avoid double correction lower.

If you are looking for real-time analysis in XLF along with other ETFs along with major US stocks then join us with a 14 Day-Trial for the latest updates & price action.

Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry. Stop loss and take profit levels with high accuracy and allows you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a Free Trial.

GBPCAD Reacted Higher After Ending Double Correction Lower

August 20, 2024 By Hassan Sheikh

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of GBPCAD. In which, the rally from 28 September 2023 low is unfolding as a leading diagonal sequence and called for an extension higher to take place. Therefore, we knew that the structure in GBPCAD should remain supported & extend higher. So, we advised members not to sell the pair & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

GBPCAD 1-Hour Elliott Wave Chart From 8.07.2024

Here’s the 1-hour Elliott wave Chart from the 8.07.2024 NY update. In which, the rally to 1.7852 high-ended wave A & made a pullback in wave B. The internals of that pullback unfolded as Elliott wave double correction where wave ((w)) ended in 3 swings at 1.7610 low. Then a bounce to 1.7773 high-ended wave ((x)) & started the next leg lower in wave ((y)) towards 1.7530- 1.7378 blue box area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

GBPCAD Latest 1-Hour Elliott Wave Chart From 8.20.2024

This is the latest 1-hour Elliott wave Chart from the 8.20.2024 NY update. In which the pair is showing a strong reaction higher taking place, right after ending the double correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above 1.7852 high is still needed to confirm the next extension higher & avoid deeper pullback.

If you are looking for real-time analysis in GBPCAD along with the other forex pairs then join us with a 14-Day Trial for the latest updates & price action.

Copper (HG_F) Elliott Wave : Buying the Dips at the Equal Legs Zone

July 15, 2024 By EWF Vlada

In this technical article we’re going to take a quick look at the Elliott Wave charts of Copper (HG_F) commodity , published in members area of the website. As our members know, Copper has recently given us correction against the October 2023 low. The commodity reached our target zone and completed correction right at the Equal Legs ( Blue Box Area) . In further text we’re going to explain the Elliott Wave pattern and trading setup.

Copper H4 Update 06.10.2024

The commodity is correcting cycle from the 3.5182 low. The pull back has already reached the extreme zone ( Blue Box ). We are aware that correction can be ending any moment. Despite the expected extension lower, we advise against selling Copper at this stage. We expect it to attract buyers at the Blue Box zone. We can see either rally towards new highs or a larger corrective bounce in three waves at least. Once the bounce reaches the 50% Fibonacci retracement level against the connector high – X red, we’ll secure our position by moving the stop-loss to breakeven. To safeguard our trade, we’ll closely monitor for any break below the marked invalidation level :4.1629

A quick reminder:

Our charts are designed for simplicity and ease of trading:

Red bearish stamp + blue box = Selling Setup
Green bullish stamp + blue box = Buying Setup
Charts with Black stamps are deemed non-tradable. 🚫

For those eager to deepen their understanding of Elliott Wave Patterns, we invite you to explore our Free Elliott Wave Educational Web Page.

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

Copper H4 Update 06.10.2024

The commodity made another leg down and found buyers within the Blue Box area as expected. We got a nice rally from our buying zone, counting pull back completed at the 4.3016 low. The bounce has exceeded the 50% Fibonacci retracement level against the connector peak – (X) blue. As a result, traders who entered long positions are now enjoying risk-free profits. With the price holding above the 4.3016 low, we believe the next leg up can be in progress. For confirmation on the next leg up, we’re looking for a break above the May 20th peak.

Please bear in mind that the market is constantly evolving. The outlook presented here may have shifted since. For the latest updates, refer to the most recent charts available in our membership area. We focus on trading instruments with incomplete bullish or bearish swing sequences. The Live Trading Room highlights the best opportunities in real-time.

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DAX Elliott Wave: Buying the Dips at the Blue Box Area

May 27, 2024 By EWF Vlada

Hello fellow traders. In this article we’re going to take a quick look at the Elliott Wave charts of DAX published in members area of the website. DAX is showing impulsive bullish sequences in the cycle from the October 2023 low. Recently we got a 3 waves pull back that has ended right at the Blue Box zone (buying area). In the further text we are going to explain the Elliott Wave Forecast and trading setup.

DAX Elliott Wave 1 Hour Chart 05.23.2024

DAX remains bullish against the 17624.8 pivot. The Index is currently giving us pull back in 3 waves , wave ((iv)) black. The price made 5 waves from the peak, suggesting DAX ended only first leg (a) of ((iv)) that is unfolding as Elliott Wave Zig Zag pattern. We expect DAX to make another leg down toward extreme area at 18525.23-15352.42 blue box ( buying zone). From there, DAX index should ideally make a rally toward new highs or 3 waves bounce alternatively .As our members know Blue boxes are based on 100% – 161.8% Fibonacci extension area , that we trade in 3, 7, or 11 swing corrective sequence.

Once the price touches the 50 fibs against the (b) blue connector, we’ll make positions risk-free and set the stop loss at breakeven and book partial profits. Breaking below the 1.618 Fibonacci extension level at 15352.42 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. 🚫

DAX Elliott Wave 1 Hour Chart 05.25.2024

DAX the drop toward our Blue Box area and found buyers as expected. We got nice reaction from our buying zone. The index has reached and exceeded 50 fibs against the (b) blue high. So members who took the long trade are enjoying profits now in a risk free positions. We would like to see break of (iii) black high, to confirm next leg up is in progress.

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