NQ: Bottomed in October with a Similar (Inversed) Pattern

$NQ #trading setup

So far NQ-mini has topped in the (a)-(b)-(c) move up off the October low at a strong confluence of two fibs:

Note those two fib levels highlighted with red arrows:

– 123.6% ext of subwave (a) up and

– 50% retracement of the decline off the Aug high.

I really see a lot of similarities between that whipsaw and the whipsaw that preceded the October low:

Look at that wild whipsaw highlighted with the red circle. That whipsaw preceded the final spike to a slightly lower low followed by a strong intraday reversal up.

We got a similar -a-b-c-d-e- labelled whipsaw with a spike to a slightly higher high that got brutally faded yesterday.

To confirm completion of the red wave B up and start of a large wave C down bears need to break under the low made by wave -iv- down = 11,535.

Wave C down would be able to push NQ down to new lower lows.

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