NASDAQ - ABC DONE & NEW TARGETS
NASDAQ:
After an upward movement in 5 waves, the nasdaq made a correction (ABC). Even if I expected a stronger correction, the chart signals further upside potential.
After an ABC correction, there is often a new trend. This trend is moving in 5 waves. Waves 1, 3 & 5 are impulse waves. Waves 2 & 4 are marked by a correction. In the chart you can see that waves 1 & 2 have already been completed. After completing wave 2, I was able to determine further targets with the help of a Fibo extension. There is a high probability that wave 3 will exceed the increase in wave 1 by 161.8 percent. Accordingly, my next target is 13818. After that, a corrective movement should occur. Wave 3 is mostly corrected by wave 4 between 38.2 and 50%. After a corrective movement, wave 5 is the final target. As a result, I see a potential of up to 14351, because wave 5 can even be 261.8% longer than wave 1.
After an upward movement in 5 waves, the nasdaq made a correction (ABC). Even if I expected a stronger correction, the chart signals further upside potential.
After an ABC correction, there is often a new trend. This trend is moving in 5 waves. Waves 1, 3 & 5 are impulse waves. Waves 2 & 4 are marked by a correction. In the chart you can see that waves 1 & 2 have already been completed. After completing wave 2, I was able to determine further targets with the help of a Fibo extension. There is a high probability that wave 3 will exceed the increase in wave 1 by 161.8 percent. Accordingly, my next target is 13818. After that, a corrective movement should occur. Wave 3 is mostly corrected by wave 4 between 38.2 and 50%. After a corrective movement, wave 5 is the final target. As a result, I see a potential of up to 14351, because wave 5 can even be 261.8% longer than wave 1.
Note
ABC DONE:Note
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.
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.