The Nas100 is trading at the top of a corrective structure on the H1 time frame and is currently in wave 4. This means that there are two options on the table. In my opinion we are more likely to see option one play out but that is definitely not guaranteed.
Option one is that the price breaks the top of the structure and moves to the target area of 15280.
Option two is that there is a retracement to complete wave 5 to the bottom of the structure before the reversal and break to the target area of 15235.
The weekly time frame setup suggests that the target to the upside is around the 15750 mark so I am looking to trade all the smaller long setups up to that level. From there I will need to watch for structure formations in order to see direction.
Happy trading!
Linton White
QuickTrade
Disclaimer
This information is not intended as advice or as a trading signal. Should you use this information in any way whatsoever, you do so at your own personal discretion.
Option one is that the price breaks the top of the structure and moves to the target area of 15280.
Option two is that there is a retracement to complete wave 5 to the bottom of the structure before the reversal and break to the target area of 15235.
The weekly time frame setup suggests that the target to the upside is around the 15750 mark so I am looking to trade all the smaller long setups up to that level. From there I will need to watch for structure formations in order to see direction.
Happy trading!
Linton White
QuickTrade
Disclaimer
This information is not intended as advice or as a trading signal. Should you use this information in any way whatsoever, you do so at your own personal discretion.
Trade active:
Well, wave 5 played out perfectly as indicated and we are now waiting for the breakout to the upside. The target has changed slightly due to the aggressive drop and push back up so if you caught wave 5 at the bottom, well done!
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