EQT Corporation has found a promising opportunity in the 2023 Blue Box Area, pushing the stock closer to new heights. Analysis using the Elliott Wave framework suggests there are several paths for ongoing growth. Starting from its low in 2020, EQT reached a high of $51.97 in wave (I) before dropping to $28.11 in wave (II). The stock’s upward movement indicates that wave (III) is underway, aiming for a target between $57.75 and $64.74 based on Fibonacci extensions. Once the stock hits this target area, a pullback in wave (II) may create new buying chances. The long-term goal is for the stock to rise between $76 and $105, as indicated by Grand Super Cycle analysis. Traders can look for daily and weekly corrections to find entry points, ideally after completing three, seven, or eleven swings. Using the extreme Blue Box system can help improve the accuracy of these entries. This article emphasizes the complexity and risks involved in forex trading. It’s crucial for traders to assess their goals and risks before participating, as market forecasts are never guaranteed. The advice here is given in good faith, stressing the importance of considering risks and seeking independent financial guidance. EQT’s stock performance since 2020 is best understood through the Elliott Wave model. The impulsive rise from the pandemic low to the $50s greatly illustrates this. The first wave peaked at $51.97, followed by a significant correction down to $28.11. This decrease aligns with a typical second wave pattern, which has since seen the share price rise sharply. We’ve identified the recent uptrend as part of wave (III), with the stock now approaching the Fibonacci extension targets of $57.75 to $64.74. These levels, derived from Fibonacci calculations, are used to establish objective reference points based on previous wave lengths. When the price reaches this target, it might experience a temporary pause or slight drop into another correction phase, likely termed wave II of a higher-order sequence. For those engaged in leveraged positions or options strategies, a correction into wave II could be a good opportunity to consider entry. This should be done cautiously and prepared for the right patterns to develop. Ideally, this would follow either three, seven, or eleven swings, which are standard corrective counts in wave theory. Completing any of these patterns indicates a near-term move’s exhaustion and creates a higher probability for potential gains. Thomson’s approach, especially when used alongside tools like the extreme Blue Box system, provides a reliable method for entry points. It’s best to look for entries based on this rather than purely directional predictions. Blue Box zones are derived from specific movements and indicate areas where price reactions are statistically more probable. While timing may not be precise, risk management becomes clearer when trades are planned within these calculated areas. In the long term, the Grand Super Cycle perspective supports the possibility of higher targets between $76 and $105, though this outcome isn’t immediate. Such a rise would reflect the larger upward trend, meaning that a retracement in wave II would be seen as just a pause, not the end of a bull market. If this trend continues, it opens the door for repeated entries following each corrective phase. In the short term, traders can use weekly and daily charts to find opportunities to enter or adjust their positions, particularly during pauses in price movement. These pullbacks should be approached carefully, with measured entries based on confirmations rather than chasing after breakout spikes. Finally, it’s important to remember that while these setups come with certain probabilities, they do not guarantee success. This is a key takeaway: even with a precise technical framework, no trade is risk-free. We operate on advantages and informed strategies while balancing them with clear plans to disengage if our predictions fail. Setting these parameters is vital, particularly for those dealing with derivatives, where factors like decay and timing greatly influence outcomes compared to unleveraged assets. Financial markets remain unpredictable and detached from theories or traders’ opinions. Thus, we adhere to well-defined strategies, reducing uncertainty and allowing for disciplined adjustments.

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