Wez1981

NAS100 24 May 2019

OANDA:NAS100USD   US Nas 100
Good evening traders,

My attempt at the NAS100 utilising price action and Wolfe wave principles. The NAS100 Chart reflect that a wave 4 is completed for the Wolfe Wave pattern and the next wave will end at 7441 which is wave 5 and finally wave 6 target is set at 7244.00 . Even thought the wave 4 is defined by me as completed there are a possibility for the point to go lower to be completed.

The following is my short term targets for NAS100 .

Target Direction Price
1 Long 7352.00
2 Long 7441.00
3 Short 7352.00
4 Short 7244.00


Please bear in mind that the above is not advise and merely my perception of the market.
Comment: Target 1 was almost reached and we could have closed. Based on the market movement, i will still hold for target one.
Comment: Target 1 reached.

The Wolfe Wave pattern did not pan out as per the original setup illustrated in the graph. The targets however is still valid. when the new candle opens above 7352.00 i will take a long and target 7441.00 .
Trade closed manually: The 1st Target was achieved, but the trade entry point for target 2 was not present so no additional trades for the above setup was entered.

Comments