NASDAQ - Tracking Minor Waves - This Could Be A Top
Although we haven't seen a break of the rising trend-line or wave iv we need to use a couple of other indicators here.
We have divergence on the MACD indicating wave v price action.
Price bounced after the dip and encountered resistance on the upper channel.
The recent move down appears to be a Type-2 leading pattern.
We will need to see more evidence before any further assumptions can be made.
A break of the wave iv support around 12212 should provide confirmation that a top is in place.
I will provide another update as soon as we see a few more waves occur.
Please LIKE and FOLLOW to get notification of updates and future posts.
We have divergence on the MACD indicating wave v price action.
Price bounced after the dip and encountered resistance on the upper channel.
The recent move down appears to be a Type-2 leading pattern.
We will need to see more evidence before any further assumptions can be made.
A break of the wave iv support around 12212 should provide confirmation that a top is in place.
I will provide another update as soon as we see a few more waves occur.
Please LIKE and FOLLOW to get notification of updates and future posts.
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.