Good Day all,
It has been a while, but we are approaching my last swing ideas final Take Profit zone as we have reached TP 5 at 10700. So now I am starting to prepare for my next wave. You will see I have included my full analysis on the Daily Chart however I am still expecting some Upside into the sell zone concluding our weekly wave 3 of The Elliot cycle.
We have Had the following movements:
Wave 1: 9383.6 - 10310
Wave 2: 10310 - 9743.8 which was the 61% Fibonacci of Wave 1
Wave 3: 9743.8 - 10882.5(current wave in progress)
Before I continue we are currently in wave three which I am hoping to see us hit that 161% fib extension before making a major pullback. The rules of Elliot wave says that we cannot pullback into the previous wave 1 zone should it be an impulse wave cycle like we have been seeing so far which is why I have placed my sell zone at 10850 - 10882.5 with SL at 10930 as a Safety point. We now see the zones going down for Wave 4 which can be any one of those points. I have Placed My buy zone where it is between 10400 - 10329 as Should this be an impulse Elliot Wave we will see a play of wave 5 equal to wave 1. This is important to note as that pushes us into the 11 004 zone and also into the 11300 zone possibly. before a major reversal on the weekly will be seen. The reason why I am Expecting the 10329 - 10400 Zone for buys is due to the Inverted head and shoulders on the Daily Timeframe with the big V which targets 11 000 - 11400 for play out. Therefore combined with Elliot wave theory I am expecting there however will Short Till zone and Move SL Accordingly as Shorting Nas is risky in a Wave 3. I have included My Nas Short Idea here and Also Have a Nas Long Idea up for The Swing upwards to 11 000.
Wave 4 to be annouced once it concluded. With Wave 5 Confirmation to Follow in my Long Idea
Please take note this is Just a trade idea and trading is risky, Please Apply proper risk management when trading.
It has been a while, but we are approaching my last swing ideas final Take Profit zone as we have reached TP 5 at 10700. So now I am starting to prepare for my next wave. You will see I have included my full analysis on the Daily Chart however I am still expecting some Upside into the sell zone concluding our weekly wave 3 of The Elliot cycle.
We have Had the following movements:
Wave 1: 9383.6 - 10310
Wave 2: 10310 - 9743.8 which was the 61% Fibonacci of Wave 1
Wave 3: 9743.8 - 10882.5(current wave in progress)
Before I continue we are currently in wave three which I am hoping to see us hit that 161% fib extension before making a major pullback. The rules of Elliot wave says that we cannot pullback into the previous wave 1 zone should it be an impulse wave cycle like we have been seeing so far which is why I have placed my sell zone at 10850 - 10882.5 with SL at 10930 as a Safety point. We now see the zones going down for Wave 4 which can be any one of those points. I have Placed My buy zone where it is between 10400 - 10329 as Should this be an impulse Elliot Wave we will see a play of wave 5 equal to wave 1. This is important to note as that pushes us into the 11 004 zone and also into the 11300 zone possibly. before a major reversal on the weekly will be seen. The reason why I am Expecting the 10329 - 10400 Zone for buys is due to the Inverted head and shoulders on the Daily Timeframe with the big V which targets 11 000 - 11400 for play out. Therefore combined with Elliot wave theory I am expecting there however will Short Till zone and Move SL Accordingly as Shorting Nas is risky in a Wave 3. I have included My Nas Short Idea here and Also Have a Nas Long Idea up for The Swing upwards to 11 000.
Wave 4 to be annouced once it concluded. With Wave 5 Confirmation to Follow in my Long Idea
Please take note this is Just a trade idea and trading is risky, Please Apply proper risk management when trading.
