Although the NASDAQ looks bullish in the higher timeframe, we expect a pullback in the lower timeframe. In the 4 hours, we see 5 waves up and wave 5 is ending with divergence compared to wave 3. If the divergence is not erased, we would expect a pullback. However, in the 1 hour, the upward structure looks incomplete and we can go long once the pullback is completed.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.