The Nasdaq index has been trapped in a sideways correction. Its Elliott wave structure probably develops as some forth wave triangle. Selling pressure became increasingly weak along the correction, which resulted into divergence.
The Price action will most likely resolve to the upside. A resolution should evolve into something similar to our black path. Target and S/L of this short-term trading idea are depicted within the long position object on the chart.
The Price action will most likely resolve to the upside. A resolution should evolve into something similar to our black path. Target and S/L of this short-term trading idea are depicted within the long position object on the chart.
Trade closed: target reached:
Getting outta here... extension likely but other indices got probably more room to the upside.
+4.8%
+4.8%