NASDAQ Elliott Wave Analysis for Friday 15/09/2023 (+ Higher TF)
For traders (lower timeframe):
The primary expectation is now that we get an additional corrective leg as a wave (y). The wave (y) should end wave X. This move up should be followed by more downside as a wave Y.
For investors (higher timeframe):
In the higher timeframe, it looks like we are doing a wave (4) down which should be followed by a wave (5) up. Therefore, investors could buy the wave (4). However, there is a potential trap in which we might see way more downside as the wave II correction can still be ongoing.
The primary expectation is now that we get an additional corrective leg as a wave (y). The wave (y) should end wave X. This move up should be followed by more downside as a wave Y.
For investors (higher timeframe):
In the higher timeframe, it looks like we are doing a wave (4) down which should be followed by a wave (5) up. Therefore, investors could buy the wave (4). However, there is a potential trap in which we might see way more downside as the wave II correction can still be ongoing.
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