Taking a closer look at the NASDAQ (US100) on the 30-minute chart, I'm considering a long position as we enter wave (5) of the current Elliott Wave structure. The market has completed its corrective wave (4) and appears poised to make a strong push upward.
I'm targeting the Fibonacci extension levels as key areas to watch. The 0.618 level around 20028.5 is the first target, but my eyes are on the 1.618 extension at 20933.5 for a more extended move. This setup suggests a significant upward momentum, and I'll be monitoring the price action closely as it approaches these levels. It’s looking like a promising opportunity to ride the next wave up in the NASDAQ.
I'm targeting the Fibonacci extension levels as key areas to watch. The 0.618 level around 20028.5 is the first target, but my eyes are on the 1.618 extension at 20933.5 for a more extended move. This setup suggests a significant upward momentum, and I'll be monitoring the price action closely as it approaches these levels. It’s looking like a promising opportunity to ride the next wave up in the NASDAQ.
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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.