NASDAQ - In this area you can establish a long position!
My last update:
"The Nasdaq is strong! The price continues to increase and we could see this movement continue up to 14225 points. Here I actually see the end of the wave and a correction up to the target should give us the opportunity to establish a position again. However, with that much power, we can also see a direct breakout. To do this, the price should stabilize above 14225 points. In this case, I also have to do a more aggressive count and adjust the targets upwards. In the overall view I see the Nasdaq around 15269.
I expect the current upward move around 14225 points to switch into a correction. However, if the Nasdaq holds levels above 14,225 points, another breakout must be expected.
Now the Nasdaq reacts clearly to the resistance at 14147 points, where the wave still have reached a good target. Should the market succeed in falling below the 13979 points sustainably, we can slowly focus on the target area around 13700 to 13500 points. Accordingly, the expectation of a direct breakout over 14225 points has been reduced to 40%. The intermediate correction would be very welcome, so that we can build up further long positions.
Conclusion: a small intermediate recovery is more likely and can start today with a fall below 13979 points."
Nasdaq daily market update:
In the Nasdaq I see the price primarily approaching my target area. This is between 13696 - 13554 points and offers a good opportunity for long positions. From there, the Nasdaq can gain new momentum for a bullish impulse over 14220 points in the direction of 14440 points. But in der overall view I expect even higher prices. Actually I see the index grow to over 15260 points. In this case it is important to stay above 12954 points.
H1:
H4:
For my followers to understand my analysis:
The topic is only described very roughly and is intended to give you a first overview of one of my analysis methods.
1. An impulse always moves in five sub-waves.
Waves 1, 3 and 5 of these are motive waves that move in the same direction as the overall trend.
Waves 2 and 4 are corrective waves, i.e. they correct the previous movement.
The following rules apply to an impulse:
-Wave 4 must not overlap with wave 1, except in a diagonal.
-Wave 3 is never the shortest wave.
-Wave 2 must not fall below the starting point of wave 1.
If one of these rules is broken, the chart analysis must be revised.
2. A correction wave moves in the opposite direction to the overall trend.
Corrective waves are three-part and basically consist of waves A, B and C.
Waves A and C are primarily impulse patterns of the corrective movement and drive the market in the opposite direction to the overall trend.
Wave B corrects the previous wave A and even has the potential to surpass the starting point of wave A.
3. The standard pattern consists of an impulse wave and a corrective wave.
These standard patterns repeat on a short-term basis as well as on a multi-year basis. In other words, every single wave consists of several sub-waves and in turn belongs to the larger picture. For example, wave 1 (an impulse) itself consists of five sub-waves.
This standard pattern continues and accordingly always merges into a higher level.
4. Relation Between Fibonacci and Elliott Wave Theory
Fibonacci Ratio is useful to measure the target of a wave’s move within an Elliott Wave structure. Different waves in an Elliott Wave structure relates to one another with Fibonacci Ratio. For example, in impulse wave:
Wave 2 is typically 38,2 %, 50% or 61.8% of wave 1
• Wave 3 is typically 161.8% of wave 1
• Wave 4 is typically 23.6%, or 38.2% of wave 3
• Wave 5 is typically inverse 1.236 – 1.618% of wave 4, equal to wave 1 or 61.8% of wave 1+3
You can use the information above to determine the point of entry and profit target when entering into a trade.
"The Nasdaq is strong! The price continues to increase and we could see this movement continue up to 14225 points. Here I actually see the end of the wave and a correction up to the target should give us the opportunity to establish a position again. However, with that much power, we can also see a direct breakout. To do this, the price should stabilize above 14225 points. In this case, I also have to do a more aggressive count and adjust the targets upwards. In the overall view I see the Nasdaq around 15269.
I expect the current upward move around 14225 points to switch into a correction. However, if the Nasdaq holds levels above 14,225 points, another breakout must be expected.
Now the Nasdaq reacts clearly to the resistance at 14147 points, where the wave still have reached a good target. Should the market succeed in falling below the 13979 points sustainably, we can slowly focus on the target area around 13700 to 13500 points. Accordingly, the expectation of a direct breakout over 14225 points has been reduced to 40%. The intermediate correction would be very welcome, so that we can build up further long positions.
Conclusion: a small intermediate recovery is more likely and can start today with a fall below 13979 points."
Nasdaq daily market update:
In the Nasdaq I see the price primarily approaching my target area. This is between 13696 - 13554 points and offers a good opportunity for long positions. From there, the Nasdaq can gain new momentum for a bullish impulse over 14220 points in the direction of 14440 points. But in der overall view I expect even higher prices. Actually I see the index grow to over 15260 points. In this case it is important to stay above 12954 points.
H1:
H4:
For my followers to understand my analysis:
The topic is only described very roughly and is intended to give you a first overview of one of my analysis methods.
1. An impulse always moves in five sub-waves.
Waves 1, 3 and 5 of these are motive waves that move in the same direction as the overall trend.
Waves 2 and 4 are corrective waves, i.e. they correct the previous movement.
The following rules apply to an impulse:
-Wave 4 must not overlap with wave 1, except in a diagonal.
-Wave 3 is never the shortest wave.
-Wave 2 must not fall below the starting point of wave 1.
If one of these rules is broken, the chart analysis must be revised.
2. A correction wave moves in the opposite direction to the overall trend.
Corrective waves are three-part and basically consist of waves A, B and C.
Waves A and C are primarily impulse patterns of the corrective movement and drive the market in the opposite direction to the overall trend.
Wave B corrects the previous wave A and even has the potential to surpass the starting point of wave A.
3. The standard pattern consists of an impulse wave and a corrective wave.
These standard patterns repeat on a short-term basis as well as on a multi-year basis. In other words, every single wave consists of several sub-waves and in turn belongs to the larger picture. For example, wave 1 (an impulse) itself consists of five sub-waves.
This standard pattern continues and accordingly always merges into a higher level.
4. Relation Between Fibonacci and Elliott Wave Theory
Fibonacci Ratio is useful to measure the target of a wave’s move within an Elliott Wave structure. Different waves in an Elliott Wave structure relates to one another with Fibonacci Ratio. For example, in impulse wave:
Wave 2 is typically 38,2 %, 50% or 61.8% of wave 1
• Wave 3 is typically 161.8% of wave 1
• Wave 4 is typically 23.6%, or 38.2% of wave 3
• Wave 5 is typically inverse 1.236 – 1.618% of wave 4, equal to wave 1 or 61.8% of wave 1+3
You can use the information above to determine the point of entry and profit target when entering into a trade.
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