NAS100 EW primary wave formed. Bullish opportunity.
My previous publication was about the bullish triangle that the NAS100 has just broken out of. A triangle thrust is impulsive, and this is a fine primary wave example of an impulse. This primary wave will be followed by a retrace 2 as we see now, then by a great big wave 3, which could take us quite far to the upside, perhaps 5000. Triangles are terminal moves, so be warned that I am not a long term bull here, although I take this neat scalp to the upside gratefully. Wave 1 could retrace to the 0.618 fib here, but I expect a flat correction above 50% as this is a sharp triangle thrust.
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.