$NQ #NQ #trading setup #Elliott Wave
The macro bearish setup allows bears to produce either a large wave ( iii ) down or an a-b-c move down in a wave ( y ) down:
If we zoom-in to a 30 min chat we will see a micro i down, ii up short stup for a strong decline ina wave iii down:
That i down, ii up setup is a risky setup but we can use a tight stop over 15,309.
That micro short setup allows bears to produce a decline down to 14,755.
Break over 15,309 would not only only invalidate the bearish scenario but also can be considered as a long breakout setup.