EQT Corporation identified an opportunity within the 2023 Blue Box Area, propelling the stock towards new highs. Analysis of Elliott Wave structures suggests potential pathways for continued bullish momentum.

From its 2020 low, EQT peaked at $51.97 in wave (I) and then retraced to $28.11 in wave (II). The stock’s ascent confirms the continuation of wave (III) with a 5-wave advance targeting the $57.75 – $64.74 Fibonacci extension zone.

Upon reaching this zone, a wave II pullback may offer new buying opportunities. The stock’s upward trajectory targets the area between $76 and $105, guided by Grand Super Cycle analysis.

Traders can use daily and weekly corrections for entry, following a 3, 7, or 11 swing completion. Enhanced precision is achievable with the extreme Blue Box system to better pinpoint entry moments.

The article underscores the complexity and risk in foreign exchange trading. Participants must evaluate goals and risks before engaging, acknowledging no guarantees in market forecasts. Advice is offered in good faith, stressing that trading decisions should consider potential risks and independent financial guidance.

EQT’s price activity since 2020 is best viewed through the Elliott Wave framework, most notably the impulsive rise from its pandemic low towards the $50s. The structure reveals a completed first wave up to $51.97, followed by a fairly deep correction ending at $28.11. That retracement fits within the parameters for a typical second wave and has since seen the share price move assertively higher.

We’ve labeled the recent uptrend as part of wave (III), with momentum carrying the equity towards the $57.75 to $64.74 Fibonacci extension area, a common target zone for a third wave under Elliott guidelines. These extension levels, derived from Fibonacci projections, provide objective reference points based on prior wave lengths. Once price reaches this pocket, it may pause or roll over slightly into another correction phase, likely labeled as wave II of a higher-degree move.

For those navigating leveraged positions or options strategies, a correction into wave II presents a possible area to explore positioning—not impulsively, but with preparedness for entry should certain patterns emerge. Preferably, this would follow either three, seven, or eleven swings—classic corrective counts in wave theory. Any of these structures, when completed, mark exhaustion in the near-term move and open the door to a higher probability upside setup.

Thomson’s method, particularly when layered with tools like the extreme Blue Box system, offers a data-backed and repeatable entry point. We’d look to that for entries rather than pure directional calls. Blue Box zones are calculated from specific measured moves and help identify areas where reactions—if they’re going to happen—are statistically more likely. Timing is not absolute, but risk management is clearer when trades are only considered inside these calculated areas.

Longer term, the Grand Super Cycle framing supports higher structural targets, with potential to stretch between $76 and $105 over time, though this is not imminent. Such a move would reflect the larger context trend, suggesting a retrace in wave II would simply be an interruption in a wider bull move, not its end. That trend, if maintained, could provide pace for multiple re-entries following each corrective sequence.

In the short-term, weekly and daily timeframes provide outlines for those looking to scale in or adjust exposure, particularly during pauses in momentum. We see usefulness in dwelling on those pullbacks—measured, not emotional entries on confirmation rather than on breakout spikes.

The closing notes reinforce an essential point: these setups come with known probabilities but never with certainties. It’s a lesson worth repeating. Even with precise technical frameworks, no trade is guaranteed. We only work with advantages and informed setups, balancing them with clear plans to step away when invalidated or when our wave counts are broken. The importance of having such parameters cannot be overstated—especially for those relying on derivatives, where decay, leverage, and timing affect outcomes much more dramatically than with unleveraged instruments.

Financial markets remain fluid and indifferent to theories—or traders, for that matter. That said, we approach with defined structures, leaving less to guesswork and more to disciplined adjustment.