On lower timeframe, Nasdaq appears to be reversing but once you zoom out, you can see that it's just a correction.
We are currently within subwave 4, which is an ABC correction. Watching for completion below the blue structure/fib.
Trade Idea:
- Watch for rejection at the 618 fib level
- On lower timeframe, watch for trendline break, BOS etc for confirmation
- SL above the correction once we move lower
- Targets: Recent lows 10500, -0.618 fib (9000)
Goodluck and as always, trade safe!
We are currently within subwave 4, which is an ABC correction. Watching for completion below the blue structure/fib.
Trade Idea:
- Watch for rejection at the 618 fib level
- On lower timeframe, watch for trendline break, BOS etc for confirmation
- SL above the correction once we move lower
- Targets: Recent lows 10500, -0.618 fib (9000)
Goodluck and as always, trade safe!
Comment:
Reworked the wave count due to price going above wave 4 invalidation. This wave count makes more sense
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