NAZ UPDATE@1.902 for FX:NAS100 by ScottCarney

NAZ UPDATE@1.902

In my new book, Harmonic Trading Volume Three I discuss the importance of the 1.902XA extension in Crab structures that acts as a permissible tolerance when the trend is strong. In this case, the brief pause @ the 1.618 is now over and the index is poised to rally as high as 5275 over the next few days. This situation screams all the signs of a failed - or at least a delayed execution beyond the 1.618 - before a larger opportunity can be considered. I recommend that Harmonic Traders assess price action at the exact completion point to make an intelligent execution. Some individuals who teach the "set-and-forget" execution strategy because they fail to understand that the other steps in the trading process require rules in the same manner as harmonic patterns. Here is a free video w/ some harmonic strategies to handle these situations: youtube.com/watch?v=0geGCbHyz54

Note

THE TARGET HAS BEEN REACHED IN DAYS!
The 1.618>1.902 Acceleration typically is this aggressive in nature.
With the psychological 5300 level within reach, the NDX will likely take a breather at these levels next week.
NOTE: Beyond this failed Deep Crab,the only HARMONIC LEVELS are much higher than 5300 which I will review later this week.

ScottCarney

Scott Carney
HarmonicTrader.com
Founder

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