Stephen Simmons, creator of WaveBasis, reviews his Elliott Wave analysis from the March 17, 2026 Elliott Wave Hub event—where he outlined the likelihood of downside moves across multiple markets, which unfolded shortly after the event.

In this presentation, Stephen updates his wave counts and shares new insights across Metals, Cryptocurrencies, and U.S. Stocks, including Silver, Gold, GDX, Barrick Gold (B), Coeur Mining (CDE), Nasdaq (QQQ), BTCUSD (IBIT), ETHUSD, and TSLA.

If you missed the live event, this recording gives you a clear look at how the analysis was structured—and how it translated into real market movement.

In this presentation, topics include:

• Grounding introduction and market context
• Quick tour of the WaveBasis platform
• Current wave counts and updated forecasts
• Long-term wave count perspective
• Tracking alternative (opposing) market scenarios

Start your 14-day free trial of WaveBasis (no credit card required).

Stephen Simmons, the creator of WaveBasis, confirms his accurate forecasts from the last Elliott Wave Hub event as he updates his wave counts and makes new forecasts for Gold (GC), Silver (SI), Nasdaq Index (NQ), QQQ, Apple (AAPL), Amazon (AMZN), Tesla (TSLA), Bitcoin (BTCUSD), IBIT, and Ethereum (ETHUSD).

Like previous webinar recordings, this video also covers some essential aspects of successful Elliott Wave trading including practical applications using WaveBasis. These topics include:

• Getting into the right Elliott Wave trading mentality
• How to anticipate and trade an extended 5th wave
• Markets in upcoming potential extended 5th waves

This video was recorded at the Elliott Wave Hub Forecasting Event on February 25, 2025. So if you missed the event this video is a must-watch!

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While WaveBasis can detect all of the Elliott Wave pattern types, complex correctives (WXY / WXYXXZ) are currently disabled for automatic wave counts. Triangles are enabled, however, although they tend to appear less frequently than other types of patterns, so eventually you will see them in automatic wave counts.

We’re considering enabling complex correctives in a future update, although they will come with a strong warning that illuminates the results of our research regarding the usefulness of these patterns from a probability perspective.

In any case, however, if you prefer to count a section of a chart as a complex corrective, you are free to modify automatic wave counts using the wave drawing tools described here: https://wavebasis.com/docs/reference-guide/wave-drawing-tools/

Also, if you have questions or concerns about a specific chart(s) please feel free to share it using the chart-sharing feature as described here: https://wavebasis.com/docs/reference-guide/working-with-charts/sharing-charts/

Stephen Simmons, the creator of WaveBasis, confirms his accurate forecasts from the last Elliott Wave Hub event as he updates his wave counts and makes new forecasts for Gold, Silver, Nasdaq Index, Tesla (TSLA), Bitcoin (BTCUSD), and the Mexican Peso (USDMXN).

Like previous webinar recordings, this video also covers some essential aspects of successful Elliott Wave trading including practical applications using WaveBasis. These topics include:

• Getting into the right Elliott Wave trading mentality
• How to produce a full Elliott Wave count for any market
• How to identify potential trading opportunities at smaller timeframes

This video was recorded at the Elliott Wave Hub Forecasting Event on August 27, 2024. So if you missed the event this video is a must-watch! Sign up for a 14-day free trial of WaveBasis! (no credit card required).

If you have saved default settings for any of the tools included in the Smart Tools for your subscription plan, such as the Fibonacci-related or Pitchfork drawing tools, enable this setting to display your default drawings as Smart Tools, rather than the system defaults. This can be useful if, for example, you prefer to view different Fibonacci levels than the system defaults, or if you prefer to customize the colors and appearance of those tools.

Learn more about how to customize your drawings.

In the example below, when “Use My Default Drawings” is enabled, the Smart Fibonacci retracement displays the 0% level in pink, removes some levels, adds the 161.8 level and colors it green (These are the settings we chose as an example; feel free to choose your own). These are just some examples of how you can customize Smart Tools that allow drawing defaults.

By default, all wave labels are displayed on charts in the same size font for clarity, but this can also lead to overly-cluttered charts. Enabling “Scale font by wave degree” will display waves at lower degrees in a smaller font, which can make wave counts much easier to read.

When this feature is enabled, wave patterns or wave counts that are calculated or drawn at one timeframe will also be displayed on all other timeframes. This is extremely useful for switching a chart between timeframes, while always keeping consistency with the larger wave count context in focus.

This is a great way to “zoom in” to smaller timeframes on a larger timeframe wave count without losing the larger timeframe context.

When this feature is disabled, waves will only be displayed on a chart when the chart is on the timeframe on which the waves were first calculated or drawn.

Recommended: Read the original announcement about this feature on our blog.

Enable this to see wave count alternatives in the Alternate Wave Counts gadget when counting subwaves of a particular larger timeframe wave. If this option is enabled, you will be able to choose between various alternate wave counts for the current chart in the Alternate Wave Counts gadget, just as you can with full/complete wave counts.

HINT: If you don’t find the subwave counts you’re looking for, try to delete all waves forward from the wave in question and count subwaves forward again.

Recommended: Read the original announcement about this feature on our blog.