Hello fellow traders. Today, I want to share some Elliott Wave charts of the Nasdaq which we presented to our members in the past. Below, you see the 1-hour updated chart presented to our clients on the 07/21/19. showing that NQ ended the cycle from 06/13/19 low (7424.98) at the peak of 06/16/19 (8000) in red wave 1.
Below from there, we advised members that the pullback in red wave 2 was in process and should end at around 7810.46 area. Below 8000 level, we said to our clients it should see the equal legs from 06/16 peak towards the areas of the 100 – 1.618 Fibonacci extension of the black wave ((a))-((b)) which came around 7810.46-7704.34. Therefore, we expected buyers to appear in the sequences of 3, 7 or 11 swings. And that was the first area for buyers to appear to take prices to new high above 06/16/2019 peak.
Nasdaq 07.21.2019 1 Hour Chart Elliott Wave Analysis
In the last Elliott Wave chart, you can see that Nasdaq reacted nicely higher and continued the rally. Later on it made even a new high above 8000 peak. Due to the right side up tag, we expected NQ to be supported overall in the 1H timeframe. Any filled trades from that area have been risk-free, which means the stop-loss was moved to breakeven, targeting higher levels. Do please keep in mind that the 1-hour chart which I presented might have changed already. The blue boxes you see in our charts are our so-called High-Frequency boxes. Where the market ideally shows us a reaction either lower or higher. These areas are used be traded in the direction of the right side.
If you are interested in how to trade our blue box areas and want to understand how Elliott Wave works. Then I recommend you to get a shot on our 14 days free trial below. We present a lot of trading setups in our 3 Live Trading Rooms.
Nasdaq 07.23.2019 1 Hour Chart Elliott Wave Analysis
I hope you liked this blog and I wish you all good trades. And for all who are interested in learning more about our unique blue box areas and also want to trade profitably in 2019 then sign up for a free 14 days trial you can cancel anytime. Click the link and see you insight 🙂
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