NASDAQ - Elliott Wave Breakdown

٥ مارس ٢٠٢٣

Nasdaq has been really clean recently. Every move has made sense and now we have another trade setup for you with a clear invalidation level.

We can see that we're in lower degree 3rd wave impulse and we're in subwave 1, which appears to be a leading diagonal. Right now we're working within a channel but there's a chance it may turn into an expanding diagonal, which is why using the completion of subwave 2 as invalidation level works really well!

Trade Idea:
- Watch for subwave 4 of the leading diagonal to complete
- Price should stay below the completion of subwave 2 = invalidation level
- Look for bearish price action or lower timeframe trendline break for entry
- Targets: 11800 (600pips), taper positions off thereafter

Goodluck and as always, trade safe!