$NQ #NQ-mini #trading setup #Elliott Wave
The steepness of this ascent and lack of a structure behind that rally leaves little doubts that we deal with a subwave -c- in a corrective -a-b-c- up structure:
The main question is whether bears stop the rally at the lower edge of the Red Box, at 100% ext = 15,000, or, alternativey, allow bulls to test the upper red line at 123.6% ext = 15,200.
The wave count / scenario argues for upcoming move down in a subwave -a- of wave -iii- down targeting 13,900.
In addition, one could argue that this rally is the Right Shoulder of the Head and Shoulders reversal structure: