Price is showing a potential ending diagonal formation that will validate price reversal on the higher degree. Meaning we could soon find the end of our wave (III). The market should then retrace back in two waves to the levels displayed on the previous chart. Two entries can be made out of that scenario. One agressive at subwave wave "v" and one on price breakout of the wedge formation. Breakout should normally produce fast price reversal and probably no pullback to expect. Buyers musst exit at this point, or handle the risk of a massive suden "run for cover" on derivatives.
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UPDATE : Regarding the strong reversal that took place at the open.. We could plan on this formation instead. Still candidate for ending diagonal. Just more volatile one.. I still think that we need to make one more bullish wave before reaching perfect sell point. Be careful not to short too early... or with a too tight stop loss.. The market could try to flush you out on this final wave !
This analysis on 5/31 proved to be
the exact pattern that formed in price
proceeding the TOP in the Nasdaq 100 on 6/9/17 with the sudden reversal of fortune, when billions of net worth vanished in a single day.
If you are short the Nasdaq 100 going into the new trading week Mon.6/12/17... now what ?
Congratulations on a remarkable market call !
The_Unwind
PRO_Indicators
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Price responded pretty quickly.. short target should be reached within a few hours. Still on track with the original plan at this point ! We're probably going to trap some greedy buyers there !
the exact pattern that formed in price
proceeding the TOP in the Nasdaq 100 on 6/9/17 with the sudden reversal of fortune, when billions of net worth vanished in a single day.
If you are short the Nasdaq 100 going into the new trading week Mon.6/12/17... now what ?
Congratulations on a remarkable market call !
The_Unwind