• Home
  • /
  • Blog
  • /
  • Elliott Wave Update – NQ – August 30, 2021

Elliott Wave Update – NQ – August 30, 2021

Monday’s trade continued to see a push higher with the NQ reaching the resistance zone at 15556 to 15615 and closed towards the upper end of the zone.  Off of the 15442 low from last Thursday I had started to count 5 waves up but as I mentioned yesterday I was leaving open the potential for the small subminute wave 1 to be the early globex high at 15452.  Monday’s trade made that clear to be the case. This then suggests that today’s rally formed subminute wave 3.  It appears that the sub minute wave 4 is underway and should hold above 15585 before the advance picks up again in a subminute wave 5.  Wave 5 also has potential to subdivide a few times which could push the NQ into the upper resistance zone between 15641, 15685, and then 15783 to 15802.


Tags


You may also like

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Commodity Futures Trading Commission: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Content on this site is for educational and entertainment purposes only. Nothing on this site should be viewed as trading advice.