Starting To Look Like The Third Wave Is Still To Come

Having a look at the Nasdaq and what I have been saying for the last few weeks seems to be a strong possibility at this point in time. This is still not confirmed as yet but the sell off towards the end of last week shows strong supply at the 61.8% Fib retracement level. I'm still not keen to sell into this but should wave three play out, I will be looking for buy entries from the 12000 mark.

Interesting that the third wave target would put us at both a 30% retracement from ATH and a 50% Fib retracement from the high and last swing low in March 2020.

Happy Trading!
Linton

Commentaire:

Approaching the 50% Fibonacci retracement level. Support at 11700 and if that breaks we should see 10500, the 61.8% Fib retracement level.