$NQ #NQ #trading setup #Elliott Wave
Ideally bulls should produce one more push higher in a subwave c of a corrective wave iv up:
If we get that move up in a subwave c of wave iv up that would complete the a-b-c up corrective structure of a corrective wave iv up followed by another decline in a micro wave v down making a lower low.
However, in a similar way to ES-mini, we can outline an alternative bearish scenario that argues the wave -iv- up topped yesterday:
This is how a similar bearish scenario looks like in ES-mini:
For both, ES-mini and NQ-mini a rally into red boxes that fail to go through would be a short setup for another move down to lower lows.