Nasdaq should bounce to the upside soon
Fib extension coordinates using first impulse wave from Oct 26, 2023 price levels
#1 14062.16
#2 14118.99
#3 14058.33
Of course fib extension tool is modified removing irrelevant prices with real fib numbers. There are fibs past 1.618 :)
Technically we're sitting (Green arrow) on support; previous resistance (Black arrow)
We are looking at price chart combining a fib retracement tool between fib extension tool levels between 89 and 144. You can easily see how we broke down on Jul 10,2024 at .5 fib retracement creating a 5 wave impulse.Based on this movement and Elliot wave, we should see an aggressive 3 wave correction. I think A and B and already complete with a longer C wave forming back to $19,673 area.
#1 14062.16
#2 14118.99
#3 14058.33
Of course fib extension tool is modified removing irrelevant prices with real fib numbers. There are fibs past 1.618 :)
Technically we're sitting (Green arrow) on support; previous resistance (Black arrow)
We are looking at price chart combining a fib retracement tool between fib extension tool levels between 89 and 144. You can easily see how we broke down on Jul 10,2024 at .5 fib retracement creating a 5 wave impulse.Based on this movement and Elliot wave, we should see an aggressive 3 wave correction. I think A and B and already complete with a longer C wave forming back to $19,673 area.
Note
This is complete :)
If we go above "C" looks like the end is not near.
Otherwise this is wave A down of either a large A_B_C pattern or wave 1 of a much larger 5 wave pattern.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.