$QQQ - Bull count - bottom is in
Either of these counts can be valid, so it will be key for us to use other indicators and price & vol action to point us in the direction of what path we are going down.
Bulls - have this structure as a 3 wave move that completed wave 4 bottom at the 100% extension at right around 352. Now we are working on a 5 wave impulse to the upside to complete wave 1, right at the downtrend line. From there we likely will see 3 waves down to about 358 before making our ascent to ATH's
Note: right now we are about to face resistance from the ATH AVWAP and we are being rejected at the secondary downtrend line.
Bulls - have this structure as a 3 wave move that completed wave 4 bottom at the 100% extension at right around 352. Now we are working on a 5 wave impulse to the upside to complete wave 1, right at the downtrend line. From there we likely will see 3 waves down to about 358 before making our ascent to ATH's
Note: right now we are about to face resistance from the ATH AVWAP and we are being rejected at the secondary downtrend line.
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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.