Hi Everyone,
Just to share an update on the Nasdaq 100, and a future price projection.
Currently, I think that we're in Wave C of a ABC flat pattern, and that we're just beginning subwave iii of the larger C wave.
I'm expecting the price to fall below 12k eventually to around 11.6k, and I've denoted the different waves on the chart.
This is supported by Wave A being applied 161% to Wave BC - a ratio together with 127% which is more common for flats being formed in the Nasdaq.
Additionally, I've tried to measure the C sub-waves using regular Fibonnaci projections, which also suggest a similar level.
If price break above the B wave this analysis is void,
Good luck!
Just to share an update on the Nasdaq 100, and a future price projection.
Currently, I think that we're in Wave C of a ABC flat pattern, and that we're just beginning subwave iii of the larger C wave.
I'm expecting the price to fall below 12k eventually to around 11.6k, and I've denoted the different waves on the chart.
This is supported by Wave A being applied 161% to Wave BC - a ratio together with 127% which is more common for flats being formed in the Nasdaq.
Additionally, I've tried to measure the C sub-waves using regular Fibonnaci projections, which also suggest a similar level.
If price break above the B wave this analysis is void,
Good luck!