NASDAQ 100 Elliott Wave Analysis – A High-Probability Setup in P📌 Is the NASDAQ 100 in a Bearish Impulse Wave?
Based on Elliott Wave analysis, NASDAQ 100 appears to be in Wave 3 of an ongoing bearish impulse (Wave A or 1). This setup suggests that after the current downward move, we might see a corrective structure before another leg down.
Key Insights:
🔹 Wave Structure: The first wave of this move was a leading diagonal, followed by a pullback. Now, we are likely in Wave 3, which could extend further before a corrective phase begins.
🔹 Retracement Zones: After Wave 3 completes, we expect a corrective structure (Wave 4), which typically retraces between 38.2% and 50% of Wave 3 before Wave 5 resumes.
🔹 Trading Strategy: The most favorable entry zone would be during Wave 5 of A (or 1), ideally in lower timeframes such as H1, H4, or even M15. Before entering a trade, we need to confirm a three-wave corrective structure—whether it forms a sideways correction or a complex zigzag.
📌 Critical Levels to Watch:
A break into Wave 1 territory could invalidate the impulse structure and shift the outlook.
If the corrective phase is shallow, a deeper drop may still be on the table.
🚀 Patience is key! Once the correction completes, the next move could offer a strong trading opportunity.
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💬 What’s your take? Are we heading lower, or will the market surprise us?
