NQ - two clusters of fibs that should finally stop that rally

This is a one million dollar question. Which of those two clusters will stop that subwave ( c ) of wave ( iii ) up.

The first lower cluster is formed by two fibs:

subwave ( c ) of wave ( iii ) = 100% of ( a ) of ( iii ) = 9,148 and

wave ( iii ) = 223.6% of ( i ) up = 9,203.

The second cluster is formed by those extensions:

( iii ) = 250% of ( i ) up =9,404 and

( c ) of ( iii ) = 123.6% of ( a ) of ( iii ) = 9,375.

On the one hand, 223.6% ext is a very common target for wave ( iii ).

But on another hand 100% ext for ( c ) of ( iii ) is allowed but normally ( c ) of ( iii ) gets a bit longer than ( a ) of ( iii ). So both targets formed by those two clusters of extensions are equally probable.

And the first target for a corrective wave ( iv ) down will be a demand zone located in between 8,746 – 8,692.

NQ - 240 min chart updated at 11-30 PM on 1-16-2020

Trading is risky. Read this important Disclaimer

Trading stocks, options, or futures carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your objectives, financial situation, needs and level of experience. CastAway Trader LLC provides general overview of trading methods that does not take into account your objectives, financial situation or needs. The content of this website must not be construed as personal advice. The possibility exists that you could sustain a loss in excess of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading. You should seek advice from an independent financial advisor. Past performance is not necessarily indicative of future success.

Previous posts:

No posts found.

© 2019 Cast Away Trader. All Rights reserved.