NASDAQ - BUY IDEA
The US100 (NASDAQ) chart indicates a potential long setup based on Elliott Wave analysis. The price appears to have completed wave (4) and is now poised for an upward move, targeting the 1.618 Fibonacci extension level around 20,039.1, which marks the potential completion of wave (5).
The strategy for this long trade could involve entering near the current price levels, with an initial target around 20,039.1 based on the projected Fibonacci extension. A stop-loss could be placed just below the recent low to limit downside risk, as the price moves higher toward the completion of wave (5).
This setup suggests a bullish reversal and an opportunity to capture the next upward leg in the NASDAQ.
The strategy for this long trade could involve entering near the current price levels, with an initial target around 20,039.1 based on the projected Fibonacci extension. A stop-loss could be placed just below the recent low to limit downside risk, as the price moves higher toward the completion of wave (5).
This setup suggests a bullish reversal and an opportunity to capture the next upward leg in the NASDAQ.
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