Sir it was really a time to cover Nasdaq move once for a fair idea. You rightly said that there is no indication of reversal because if we see weekly and monthly charts, no weakness is clearly visible. As per my humble calculations, 1.618 of 1st wave is around 7950 (higher timeframe). From the weekly and monthly candles also, it looks like market moving further high. If market had to turn from this level, there should have been some visible weakness. Sir I appreciate your efforts for creating such a valuable videos for us. I am certain that many people will be able to take advantage of your sincere efforts. Thanka once again.
Hi Yaar Thank you for your feedback. My approach is always a prudent one because once the Elliott wave analysis is finished, one must now focus on the market patterns and price-action trading. That approach helps to avoid making mistakes. I really appreciate your thought about this tutorial. Thank you for watching. Best regards.
Sir can you please comment on this if I say that Nasdaq, despite of upward heavy momentum, is forming a very particular pattern (may be called as dangerous one) in daily and weekly timeframe. This pattern can cause Nasdaq to fall 1200-1500 points fast. Please comment on this.
On the daily chart, people are selling on the edge of the upper level of the the rising channel. Draw the channel. Or at least wait for the common sense trend line along the price on the daily to be broken and converted into a resistance. Happy trading.
Sir it was really a time to cover Nasdaq move once for a fair idea. You rightly said that there is no indication of reversal because if we see weekly and monthly charts, no weakness is clearly visible.
As per my humble calculations, 1.618 of 1st wave is around 7950 (higher timeframe). From the weekly and monthly candles also, it looks like market moving further high. If market had to turn from this level, there should have been some visible weakness.
Sir I appreciate your efforts for creating such a valuable videos for us. I am certain that many people will be able to take advantage of your sincere efforts.
Thanka once again.
Hi Yaar
Thank you for your feedback. My approach is always a prudent one because
once the Elliott wave analysis is finished, one must now focus on the market
patterns and price-action trading. That approach helps to avoid making mistakes.
I really appreciate your thought about this tutorial.
Thank you for watching.
Best regards.
Sir can you please comment on this if I say that Nasdaq, despite of upward heavy momentum, is forming a very particular pattern (may be called as dangerous one) in daily and weekly timeframe. This pattern can cause Nasdaq to fall 1200-1500 points fast. Please comment on this.
On the daily chart, people are selling on the edge of the upper level
of the the rising channel. Draw the channel. Or at least wait for the
common sense trend line along the price on the daily to be broken
and converted into a resistance.
Happy trading.
Thank you Sir, for your kind comments and guidance. I really appreciate. Thanks