NASDAQ - BUY IDEA

On the NASDAQ (US100) 30-minute chart, we're seeing a compelling Elliott Wave pattern in action. The chart indicates the completion of wave (5), suggesting the end of an impulse phase and the beginning of a corrective pattern, marked by waves (a) and (b).

We may now be in the midst of wave (c), typically the final leg of a corrective phase. The Fibonacci projections suggest potential targets for this wave, with the 0.837 level at 17761.4, the 1 level at 17874.8, and the 1.618 level at 18303.4 acting as significant points of interest.

As we know, the NASDAQ is quite sensitive to technological sector performance and other economic indicators, so these movements could offer trading opportunities. It's essential to stay informed about market news that could influence the index's direction.

I'm monitoring these levels closely for signs of reversal that align with the Elliott Wave forecast, considering entries that align with a potential rebound from wave (c). Sound risk management is critical, as the market can be unpredictable. Let's stay tuned to the index's pulse and be ready to adapt our strategies accordingly.

Trade active