NQ - from a big picture to a really micro micro one
NQ lets talk about NQ in depth.
We will start from 240 min chart.
To nail a top of subwave ( c ) of wave ( iii ) up you’ve got to get your hands dirty.
That means that you can not confidently call the top of subwave ( c ) of wave ( iii ) without going much deeper into micro level.
You need to go really micro dropping from 240 min chart to 30 or even 15 min chart to be able to count five micro waves inside subwave ( c ) of wave ( iii ).
On the 240 min chart above you can perfectly see those five waves labelled as -i-, -ii-, -iii-, -iv-, -v-.
Now what?
You should focus on the very last micro wave -v- up structured as -a-b-c-.
NQ - 240 min "Big Picture" chart updated at 10-30 PM on 12-17-2019
There are two most common extensions for subwave -c- of wave -v-: 123.6% and 176.4%.
At this point we have to dig deeper and switch to 30 min chart.
Now you can see that final -a-b-c- up.
And you can see those two most common extensions, 123.6% and 176.4%.
Now if you want to feel yourself like a serious nerdy trader and you want to make a really accurate call you have to dig even deeper.
You may attempt counting five micro waves inside that very final subwave -c- of a micro wave -v- up.
Does it sound exciting?
Let;s zoom-in to 5 min chart. Just scroll below to have more fun!
NQ - 30 min "Micro" chart updated at 10-30 PM on 12-17-2019
Now we see a lot of details in that subwave -c- of a micro wave -v- up.
Let’s try to connect them together:
It’s a great place for wave -v- up to top is 323.6% ext of wave -i- up = 8,667.82
-c- of -v- up = 123.6% x -a- of -v- = 8,664.27
Now lets check extensions of that micro micro 5 min chart:
c of iii HAS to strike 176.4% ext of wave i up. That is 8,639.50.
c of iii has to be longer than a of iii.
c of iii tends to stop at 123.6% x a of iii = 8,639.00
——
The conclusions is that NQ may hit that very dense cluster of fibs at around 8,660 to top in that micro micro nerdy wave iii up.
That could happen overnight or tomorrow morning.
Then it should produce a pullback in a micro micro iv down
It may stop at 8,545.
Ideally it can make another micro push higher in that micro micro wave v up.
It may push to 8,700 in the very final micro micro wave v up.
At this point there is not much room left for this rally!
Moreover, that nerdy micro micro very final wave v up may never come at all! The pullback in micro wave iv down we may get tomorrow would set the Final Critical support. We would be watching whether NQ would be able to produce that final ideal micro micro wave v up to 8,700 or miserably fail and violate that support at wave iv down to confirm completion of much larger wave ( c ) of (iii) and start of a long due pullback ion wave ( iv ) down.
NQ - 5 min "Micro micro" chart updated at 10-30 PM on 12-17-2019
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