Nasdaq Elliot Wave. Long against Logic
I usually trade off just price action, but I find this Elliot Wave on the Daily Timeframe, too close to textbook not to be curious whether it's really a thing.
The proportions of the Waves are pretty spot on with the typical standards.
Despite being bearish for awhile, and in the medium term like 6-12 months out, I think we get a nice run up for awhile.
There seems to be a lot of scared cash on the sidelines, if you look up the Data like the Managers Funds index etc. Could be a nice little FOMO in.
We shall see, if it rips, how eager people will be to sell the Rips,...or if the sentiment changes and it's "let it ride." Humans have such bad short term memories, we can go bearish to bullish in the same given day, I know I do sometimes :)
The proportions of the Waves are pretty spot on with the typical standards.
Despite being bearish for awhile, and in the medium term like 6-12 months out, I think we get a nice run up for awhile.
There seems to be a lot of scared cash on the sidelines, if you look up the Data like the Managers Funds index etc. Could be a nice little FOMO in.
We shall see, if it rips, how eager people will be to sell the Rips,...or if the sentiment changes and it's "let it ride." Humans have such bad short term memories, we can go bearish to bullish in the same given day, I know I do sometimes :)
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