NASDAQ Elliott Wave Analysis for Monday 02/10/2023 (+ Higher TF)
For traders (lower timeframe):
The primary expectation is that wave X has finished and that we are doing an ABC pattern down as wave Y. It looks like wave ((c)) is missing a fifth wave down.
For investors (higher timeframe):
In the higher timeframe, it looks like we are doing a wave (4) down which should be followed by a wave (5) up. Therefore, investors could buy the wave (4). However, there is a potential trap in which we might see way more downside as the wave II correction can still be ongoing.
The primary expectation is that wave X has finished and that we are doing an ABC pattern down as wave Y. It looks like wave ((c)) is missing a fifth wave down.
For investors (higher timeframe):
In the higher timeframe, it looks like we are doing a wave (4) down which should be followed by a wave (5) up. Therefore, investors could buy the wave (4). However, there is a potential trap in which we might see way more downside as the wave II correction can still be ongoing.
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