On lower timeframe, Nasdaq appears to be reversing but once you zoom out, you can see that it's just a correction.
We are currently within subwave 4, which is an ABC correction. Watching for completion below the blue structure/fib.
Trade Idea:
- Watch for rejection at the 618 fib level
- On lower timeframe, watch for trendline break, BOS etc for confirmation
- SL above the correction once we move lower
- Targets: Recent lows 10500, -0.618 fib (9000)
Goodluck and as always, trade safe!
We are currently within subwave 4, which is an ABC correction. Watching for completion below the blue structure/fib.
Trade Idea:
- Watch for rejection at the 618 fib level
- On lower timeframe, watch for trendline break, BOS etc for confirmation
- SL above the correction once we move lower
- Targets: Recent lows 10500, -0.618 fib (9000)
Goodluck and as always, trade safe!
Note
Reworked the wave count due to price going above wave 4 invalidation. This wave count makes more sense 
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Want more chart ups like this? Click the links below:
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Related publications
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.