NASDAQ behaving as predicted in September: Where to from here?
NASDAQ is moving almost as predicted in the following chart published in September when most of the traders were bullish (load new bars and enjoy!).
Where to from here?
There are two options:
- If wave A is already complete (with only three waves), then NASDAQ is currently moving up in Wave B, which is likely to go up to 7200 before dropping in Wave C (purple wave shown in the above chart). This pattern aligns very well to what was predicted in the original chart in September (though I didn't expect 3 waves in wave A).
- If wave A is not complete yet and NASDAQ is moving up in Wave 4, then it will start wave 5 in a week or so (red wave). Wave B will then start after the completion of Wave 5 (not shown). Note that this would be an expanding diagonal pattern, and not a typical impulsive five wave pattern as both waves 1 and 3 had only 3 sub-waves (instead of five waves) and wave 4 overlaps wave 2.
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
Prediction in September
Confirmation in October
Where to from here?
There are two options:
- If wave A is already complete (with only three waves), then NASDAQ is currently moving up in Wave B, which is likely to go up to 7200 before dropping in Wave C (purple wave shown in the above chart). This pattern aligns very well to what was predicted in the original chart in September (though I didn't expect 3 waves in wave A).
- If wave A is not complete yet and NASDAQ is moving up in Wave 4, then it will start wave 5 in a week or so (red wave). Wave B will then start after the completion of Wave 5 (not shown). Note that this would be an expanding diagonal pattern, and not a typical impulsive five wave pattern as both waves 1 and 3 had only 3 sub-waves (instead of five waves) and wave 4 overlaps wave 2.
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
Prediction in September
Confirmation in October
Comment:
Three sub-waves in wave 1 and 3 are clearer in the daily chart shown below:
Comment:
NASDAQ appears to be going up in B wave which is likely to be completed around 7200 levels. Please also check this idea from September where the target level for wave A was met and NASDAQ has since moved up in wave B almost as predicted.
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
www.tradingview.com/...down-to-nearly-5000/
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
www.tradingview.com/...down-to-nearly-5000/
