The NASDAQ continues to take off and builds a new all-time high. The bulls broke the psychological mark of 15,000 points. Now have the last piece of the puzzle and I can consider that wave 4 is completed: The correction ran into the zone of 38.2% - 50% retracement. That’s a typical target for a wave 4. I assume that the way towards 15600 points is paved. At this point I expect another small correction. It’s just important to stay above 14.445!
I would be very careful with short positions in nasdaq. I always use a tight sl! I then adjust the sl depending on the chart & Price action. Corrections are made very quickly and impulsively. That is still a sign of strength. Also with regard to my wolfe wave setup it becomes clear that the nasdaq still has time and space to get into the areas 15,600 - 15,800. I am and will remain optimistic!
Hello. Curiosity. I don't understand something, would you explain? The correction, which started at 15,000, did not reach point 4, which is in the square. (starting at 14400)
Is this a flaw?
This is thus not a correction, just a wave. Do you agree?