US Nas 100Long
Nas100 Swing Long
Good Day all,
It has been a while, but we are approaching my last swing ideas final Take Profit zone as we have reached TP 5 at 10700. So now I am starting to prepare for my next wave. You will see I have included my full analysis on the Daily Chart however I am still expecting some Upside into the sell zone concluding our weekly wave 3 of The Elliot cycle.
We have Had the following movements:
Wave 1: 9383.6 - 10310
Wave 2: 10310 - 9743.8 which was the 61% Fibonacci of Wave 1
Wave 3: 9743.8 - 10882.5(current wave in progress)
Before I continue we are currently in wave three which I am hoping to see us hit that 161% fib extension before making a major pullback. The rules of Elliot wave says that we cannot pullback into the previous wave 1 zone should it be an impulse wave cycle like we have been seeing so far which is why I have placed my sell zone at 10850 - 10882.5 with SL at 10930 as a Safety point. We now see the zones going down for Wave 4 which can be any one of those points. I have Placed My buy zone where it is between 10400 - 10329 as Should this be an impulse Elliot Wave we will see a play of wave 5 equal to wave 1. This is important to note as that pushes us into the 11 004 zone and also into the 11300 zone possibly. before a major reversal on the weekly will be seen. The reason why I am Expecting the 10329 - 10400 Zone for buys is due to the Inverted head and shoulders on the Daily Timeframe with the big V which targets 11 000 - 11400 for play out. Therefore combined with Elliot wave theory I am expecting there however will Short Till zone and Move SL Accordingly as Shorting Nas is risky in a Wave 3. I have included My Nas Short Idea here and Also Have a Nas Long Idea up for The Swing upwards to 11 000.
Wave 4 to be annouced once it concluded. With Wave 5 Confirmation to Follow in my Long Idea
Please take note this is Just a trade idea and trading is risky, Please Apply proper risk management when trading.
It has been a while, but we are approaching my last swing ideas final Take Profit zone as we have reached TP 5 at 10700. So now I am starting to prepare for my next wave. You will see I have included my full analysis on the Daily Chart however I am still expecting some Upside into the sell zone concluding our weekly wave 3 of The Elliot cycle.
We have Had the following movements:
Wave 1: 9383.6 - 10310
Wave 2: 10310 - 9743.8 which was the 61% Fibonacci of Wave 1
Wave 3: 9743.8 - 10882.5(current wave in progress)
Before I continue we are currently in wave three which I am hoping to see us hit that 161% fib extension before making a major pullback. The rules of Elliot wave says that we cannot pullback into the previous wave 1 zone should it be an impulse wave cycle like we have been seeing so far which is why I have placed my sell zone at 10850 - 10882.5 with SL at 10930 as a Safety point. We now see the zones going down for Wave 4 which can be any one of those points. I have Placed My buy zone where it is between 10400 - 10329 as Should this be an impulse Elliot Wave we will see a play of wave 5 equal to wave 1. This is important to note as that pushes us into the 11 004 zone and also into the 11300 zone possibly. before a major reversal on the weekly will be seen. The reason why I am Expecting the 10329 - 10400 Zone for buys is due to the Inverted head and shoulders on the Daily Timeframe with the big V which targets 11 000 - 11400 for play out. Therefore combined with Elliot wave theory I am expecting there however will Short Till zone and Move SL Accordingly as Shorting Nas is risky in a Wave 3. I have included My Nas Short Idea here and Also Have a Nas Long Idea up for The Swing upwards to 11 000.
Wave 4 to be annouced once it concluded. With Wave 5 Confirmation to Follow in my Long Idea
Please take note this is Just a trade idea and trading is risky, Please Apply proper risk management when trading.
Related publications
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.