Nasdaq futures on coarse to end the first part of this rally. First targets I identified are between 15700 and 15760. This is a Wave C of B thus could ultimately retrace upto 58% from November highs to January lows. Currently we are completing Wave 1 of C thus will develop in an impulsive 5 wave pattern. Can also turn into a Triangle or other formations ... we'll see.
Zlecenie aktywne:
14340 penetrated, so the count changes slightly, no material difference. Eyeing the area between 14100 and 14190. These are fibonacci retracement levels, technically a wave 2 is satisfied so could end anytime soon. Trade with caution here.
Prices could move lower, below 14400. 14340 is the line in the sand, below this level this count (hourly chart) is wrong. Aforementioned targets remain valid for now.