BUYING NASDAQ 1H TIME FRAME DATE 7/25/2024
Unfortunately, I believe the overall Nasdaq cycle has concluded, signaling an imminent deep correction on a quarterly basis. Standard deviations in time and price have been breached, alongside key economic events shaping the next four years' trade opportunities.
Internally, we have likely completed leg 1 towards the downside, with the current distribution schematic marking a structural shift. Selling Nasdaq around 20400 is considered optimal trade entery supported by the value area high. Without forming leg 2, long-term selling perspectives face challenges under current conditions.
Consequently, selling at present is a risky option. I am inclined to seek buying opportunities on corrections, which could manifest as ABC, flat, or WXY triangle patterns. This counter-trend approach may entail prolonged and choppy price movements.
Nevertheless, internal standard deviations suggest caution in selling cycles. Hence, I will cautiously initiate small-risk purchases on Nasdaq, ideally targeting sell-offs above 20000
Internally, we have likely completed leg 1 towards the downside, with the current distribution schematic marking a structural shift. Selling Nasdaq around 20400 is considered optimal trade entery supported by the value area high. Without forming leg 2, long-term selling perspectives face challenges under current conditions.
Consequently, selling at present is a risky option. I am inclined to seek buying opportunities on corrections, which could manifest as ABC, flat, or WXY triangle patterns. This counter-trend approach may entail prolonged and choppy price movements.
Nevertheless, internal standard deviations suggest caution in selling cycles. Hence, I will cautiously initiate small-risk purchases on Nasdaq, ideally targeting sell-offs above 20000
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