Although the NASDAQ looks bullish in the higher timeframe, we expect a pullback in the lower timeframe. In the 4 hour, we see 5 waves up and wave 5 is ending with divergence compared to wave 3. If the divergence is not erased, we would expect a pullback. Traders can initiate a short (against the higher timeframe) or go long after the pullback (aligned with the higher timeframe).
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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.