The 15-minute chart of the NASDAQ 100 (US100) highlights a shorting opportunity as the price completes a five-wave impulsive structure. The Elliott Wave analysis suggests that the index may undergo a correction towards the 1.618 Fibonacci extension level of wave (a).
Key Level:
1.618 Fibonacci Extension: 19,486.0
This level acts as a possible target for the current corrective wave (c). Traders may consider short positions, aiming for this level, while placing stop losses above the recent high of wave (b) to manage risk.
This setup is ideal for those anticipating a pullback after the recent upward trend in the NASDAQ 100.
Key Level:
1.618 Fibonacci Extension: 19,486.0
This level acts as a possible target for the current corrective wave (c). Traders may consider short positions, aiming for this level, while placing stop losses above the recent high of wave (b) to manage risk.
This setup is ideal for those anticipating a pullback after the recent upward trend in the NASDAQ 100.
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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.