Nasdaq long: Cup and Handle, wave 5, technicals

6 Kas 2023

First video on how I analyze the Nasdaq 100 using Elliott Waves, Fibonacci extension levels, support and resistances, and technical indicators. Apologies first if it's not up to standards. I did this impromptu and didn't really prepare that much. Will do better next time :)

Here's a summary on why I think it is bullish:
1. Cup and Handle
2. Wave counts completion
3. MACD turned long
4. RSI still not in overbought.

One more reason is because my last analysis on NVDA is wrong (linked here) and usually when I am wrong in a strong conviction idea, going opposite is usually very profitable.

18 Kas 2023

İşlem kapandı: hedefe ulaştı

I've updated my preference for the equity markets to be short instead of long due to risk-reward.