ABC Correction on nas100!Trading plan
SL:20,448.6
TP:17,000 / floating
Trading set up
(ABC) correction
A-Wave: Initial sharp decline with increasing volume, breaking short-term support.
B-Wave: Temporary recovery (typically 50-61.8% retracement) with lower volume.
C-Wave: Final decline, typically final capitulation, targeting major support and weekly moving averages or 1,618 fib level around 17,000 level as target price for correction
reasoning:
Trade war, trump tariff ,geopolitical issue and stocks has been overpriced for the last couple of months.