$NQ #NQ #trading setup
I think we are dealing with a corrective bounce in a wave (b) up to be followed by another leg down in a wave (c) down:
If we zoom-in to a tick bar chart we can see a completed corrective -w-x-y- up structur ebehind that move up:
Bulls hit a confluence of two fibs, an ideal target for this rally.
Now bears have a setup to turn the market down and start another leg down in a wave (c).