Nasdaq is currently in a corrective ABC wave. We appear to be on wave C which is a made out of 5 waves.
We are currently on the 4th wave which is a corrective wave. Expecting it to retrace back to the recent highs at 12600 before moving lower for the 5th wave.
Trade Idea:
- Watch for wave 4 completion
- Enter on bearish rejection at recent highs
- Targets: 11700 (850pips), 10600 (2000pips)
See below for lower timeframe analysis.
Goodluck and as always, trade safe!
We are currently on the 4th wave which is a corrective wave. Expecting it to retrace back to the recent highs at 12600 before moving lower for the 5th wave.
Trade Idea:
- Watch for wave 4 completion
- Enter on bearish rejection at recent highs
- Targets: 11700 (850pips), 10600 (2000pips)
See below for lower timeframe analysis.
Goodluck and as always, trade safe!
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