NAS100 / H2 : Seems like an Extended Flat Correction !

Following on from the previous analysis that showed out target for wave 3 (reached precisely), we expected the prices to retrace back to previous supports. But for now it seems to refuse that and prices seemed to look like an early ABC extended flat consolidation. To confirm that we need to temporarily break through resistance and search for a theoric 138.2% retracement of wave A (that we probably finished already). If we reach to that point and then retrace back under the resistance of our wave 3 target, we should then head to the C target that is generally at 161.8% extention of wave A or sometimes at 261.8%. In that case I would rather bet on the second one as it corresponds to more attractive prices and substantial support area. I'm short on this indice for now, probably going to reinforce at the projected B point and exit at C. I'm not buying NASDAQ so I'll step out and wait for the wave 5 completion in order to trigger a more leveraged short entry !

Hope this idea will inspire some of you ! I'm pretty new to TradingView so I'ld appreciate any like/comment/follow if you feel like it deserve it ;)

Dagangan ditutup: sasaran tercapai:

As for now sells are counter trend I rather like to take my profits on support no matter how ! The scenario was to get back to support, it's done, now I'm out and standing by to get more information as this week will probably be crucial for the next weeks