Our last analysis on Nasdaq played out PERFECTLY. See below for our previous setup and click play to watch the magic happen...
Now we are in the corrective phase and currently in Wave C which is a 5 wave impulse lower. We are currently in the 3rd subwave and expecting a brief retracement for subwave 4 and then another move lower for subwave 5. We have the fibonacci extensions in place for possible reversal zones which we can look at for a bounce. We also have a descending trendline in place to actively monitor any sort of breakout. Bare in mind that a breakout may be a complex correction as opposed to an actual break. We just need to see how price action plays out and then go from there.
Right now there isn't any trade setup as we're in the middle of the move. Once we see any sort of corrections, we can prepare ourselves for a trade.
Hope this post helps you understand the current market structure.
waiting for retracement on 14289. for whole magic sell
drchelsea1
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Lol. This analysis isn't worth the html page it is printed on!!! Great for a laugh. I almost fell off my chair. Thank you so much. I needed some humor today, have a headache from counting money from going long on QQQ for the next 10 years starting 2 days ago. Cheers! Keep em coming.