Nasdaq Archives - Page 10 of 13 - Elliott Wave Forecast

NASDAQ NQ_F: Another Ongoing Buying Setup with Partial Profits Taken

April 9, 2024 By EWF Vlada

In this technical article, we are going to present another Elliott Wave trading setup we got in NASDAQ Futures (NQ_F) . The futures has extended pull back, giving us another buying opportunity. NQ_F completed correction at the Blue Box Area. In the next parts, we’ll explain the Elliott Wave pattern we saw and discuss the trading plan in detail.

NQ_F Elliott Wave 1 Hour London Chart 04.05.2024

Current analysis indicates that NQ_F is nearing completion of wave ((iv)) pullback. The pullback has extended, and the price has reached a new extreme zone at 18057.25-17742.24. Another short-term low would be ideal to complete 5 waves down within the (c) blue leg. Nevertheless, we’re already long from the Equal Legs level at 18057.25. With the main trend remaining bullish, we anticipate at least a 3-wave bounce from this area. Once the price retraces to the 50% Fibonacci level against the (b) blue connector, we’ll secure positions, set the stop loss at breakeven, and capture partial profits. A drop below the 1.618 Fibonacci extension level at 17742.24 would invalidate the trade.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

Quick reminder on how to trade our charts :

Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable. 🚫

NQ_F Elliott Wave 1 Hour London Chart 04.09.2024

We eventually experienced another slight push down in v of (c). As expected, the futures have found buyers and are showing a decent bounce from the Buying Zone. We consider the pullback ((iv)) black as completed at the 18052.49 low. Consequently, we’ve made our long positions risk-free: We’ve set our stop loss at breakeven and have already secured partial profits. Now, we’d like to see a break of the ((iii)) black peak to confirm that the next leg up is in progress. Alternatively, if the price breaks below the 18052.49 low, the futures will likely experience a deeper pullback. In that case, long positions will be stopped out at breakeven, and we’ll look to buy the dips again at the next set of equal legs.

Your risk management should be comprised of four parts:
-Small Losses
-Small wins
– Big wins
– Breakeven

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.

Elliott Wave Forecast

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NASDAQ Futures (NQ_F) Is Giving Us a Bounce from the Buying Zone

April 3, 2024 By EWF Vlada

Hello fellow traders. As our members know , NASDAQ has recently given us plenty of positive buying setups. In this article we’re going to present Elliott Wave charts of NQ_F published in the members area of the website. NASDAQ made a clear 3 waves pull back that has unfolded as Elliott Wave Double Three pattern. It made clear 3 waves down from the February 23rd peak and completed correction right at the Equal Legs zone ( Blue Box Area) . In further text we’re going to explain the Elliott Wave pattern and trading setup.

NASDAQ Elliott Wave 1 Hour Asia Chart 04.02.2024

The current view indicates that the intraday pullback is still in progress. We assume that the correction is unfolding as an Elliott Wave Double Three pattern with wxy red labeling. The price structure remains incomplete at the moment, suggesting further downside towards the 18322-18138.2 Blue Box Buying Zone. We don’t recommend selling NASDAQ; instead, we prefer positioning ourselves on the long side from the Blue Box area. Once NQ_F reaches our designated buying zone, we expect an influx of buyers, potentially resulting in a rally towards new highs or a 3-wave bounce.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

Quick reminder on how to trade our charts :

Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable. 🚫

NASDAQ Elliott Wave 1 Hour Chart 04.02.2024

The futures have experienced a drop and have reached our buying zone, the Blue Box: 18322-18138.2. We are entering long positions within the Blue Box against the marked invalidation level. As the main trend is bullish, we expect to see at least a 3-wave bounce from the Blue Box. As soon as the price hits the 50 fibs against the x red connector, we will make positions risk-free and set stop loss at breakeven. A break below the 1.618 Fibonacci extension level, 18138.2, would invalidate the trade.

NASDAQ Elliott Wave 1 Hour Chart 04.02.2024

The NASDAQ futures has found buyers as expected and is showing a very good reaction from the Blue Box Area. We count the pullback (ii) blue completed at the 17828 low. Consequently, any long positions should now be risk-free. We are anticipating a break of the (iii) blue peak to confirm that the next leg up is in progress.Alternatively, if the last short-term low is broken, then we may see a deeper pullback. In that case, we will look to buy the Futures again at the next set of equal legs

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.

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NASDAQ Elliott Wave View: Extending Higher In Wave Three

April 6, 2021 By Hassan Sheikh

Short term Elliott wave in NASDAQ suggests that the cycle from March 05, 2021 low is unfolding as an impulse sequence. Up from March 05 low, the rally to $13287.25 high ended wave (1). Down from there, the pullback in wave (2) unfolded as a zigzag structure where wave A ended at $12681.75. Wave B bounce ended at $13172 high and wave C ended at $12609.42 low thus completed wave (2) pullback.

Above from there, the initial bounce in wave 1 unfolded as a diagonal where wave ((i)) ended at $12881 high. Wave ((ii)) ended at $12676.25 low, wave ((iii)) ended at $12988.50, wave ((iv)) ended at $12807.50 low and wave ((v)) ended at $13003 high. Then the pullback to $12776.50 low ended wave 2 & index has turned higher in a nest within wave 3 of (3) favoring more upside. Near-term, while dips remain above $12609.42 low expect index to extend higher in a nest looking for more upside towards $13689.46 -$14357.63 area higher before a pullback can take place. We don’t recommend selling the index and expect dips to find support in 3, 7, or 11 swings for further upside.

NASDAQ 1 Hour Elliott Wave Chart

NASDAQ Elliott Wave Video

Elliott Wave View: Nasdaq at Support Area

February 23, 2021 By EWFHendra

Short Term Elliott Wave in Nasdaq (NQ) suggests the rally from September 21, 2020 low is unfolding as a 5 waves impulse Elliott Wave structure. In the chart below, we can see wave (4) ended at 12727.25. Index has resumed higher in wave (5) with subdivision as another 5 waves in lesser degree. Up from wave (4) low, wave ((i)) ended at 13584.5, and pullback in wave ((ii)) ended at 13345.25. Index then resumed higher in wave ((iii)) which ended at 13769.25 and pullback in wave ((iv)) ended at 13517.75. The final leg wave ((v)) ended at 13900.50 and this also completed wave 1 of (5) in higher degree

Wave 2 pullback is currently in progress to correct cycle from February 1, 2021 low before the rally resumes. Internal of wave 2 is unfolding as a zigzag where wave ((a)) ended at 13468 and bounce in wave ((b)) ended at 13729. The Index has reached potential support area for wave ((c)) at 100% – 161.8% Fibonacci extension of ((a))-((b)) which comes at 13032-13298. Expect Index to end wave ((c)) soon and buyers should appear at this area and the Index can see a new high or bounce in larger 3 waves at least. A move towards or below 161.8 extension at 13032 however increases the risk that the decline from February 16, 2021 high (13900.5) becomes impulsive. As far as pivot at 12727 low stays intact, expect Index to end wave 2 pullback soon and turns higher.

Nasdaq 60 Minutes Elliott Wave Chart

Nasdaq (NQ_F) Elliott Wave Video

Elliott Wave View: Nasdaq All-Time High Imminent?

February 4, 2021 By EWFHendra

Short Term Elliott Wave View in Nasdaq (NQ) suggests the rally to 13599.75 ended wave (3). Pullback in wave (4) ended at 12726.87. The internal subdivision of wave (4) unfolded as a double three Elliott Wave structure. Down from wave (3) high, wave W ended at 12884.75. The Index then bounced in wave X and ended at 13394. From there, it extends lower in wave Y towards 122726.87. This completed wave (4) at 12726.87.

Index has turned higher in wave (5) although a break above wave (3) at 13599.75 is required to rule out a double correction in wave (4). Up from wave (4) low, wave (i) ended at 13084, wave (ii) ended at 12970.25, wave (iii) ended at 13584.50 and wave (iv) is proposed complete at 13386.75. Expect Index to soon end wave ((i)) with or without another high. It should then pullback in wave ((ii)) to correct cycle from February 1 low before the rally resumes. As far as pivot at 12726.87 low stays intact, expect dips to find support in 3, 7, or 11 swing for more upside.

Nasdaq (NQ) 60 Minutes Elliott Wave Chart

Nasdaq (NQ) Elliott Wave Video

Elliott Wave View: Nasdaq (NQ) Looking For More Upside

December 1, 2020 By EWFHendra

Short term Elliott Wave View in Nasdaq (NQ) suggests the Index ended wave 2 on November 10 at 11505.33. The Index has since turned higher in wave 3. The internal of wave 3 is nesting higher as a 5 waves impulse. Up from wave 2 low at 11505.33, wave ((i)) ended at $12065, and wave ((ii)) pullback ended at $11804.5. Above from there, the index is nesting higher in wave ((iii)) whereas lesser degree wave (i) ended at $12337.25 high. And wave (ii) pullback ended at $12286.25 low. And now the index is looking for more strength towards $12617- $12742 area next within wave (iii) of ((iii)) before a pullback can take place.

As far as pivot at 11505.33 stays intact, expect dips to find support in the sequence of 3, 7, or 11 swings for further upside. If pivot at 11505.33 gives up, then there’s a possibility that the Index ends cycle from September 21 low as a diagonal. In this case, Index can do a larger pullback in 3, 7, or 11 swings to correct the rally from September 21 low before the rally resumes.