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Nasdaq: Elliottwave Structure suggests a bounce before continuation lower

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 6, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    Short term Elliott Wave cycle suggests bounce to 5117.3 ended wave (X). First leg of decline from this level unfolded in a zigzag and ended wave W at 4847. Wave X bounce is currently in progress in 3 or 7 swing to correct the decline from 5117.3 and ideally can reach 4981 – 5012 area before the Index resumes lower again. We don’t like buying the proposed bounce and expect continuation lower after wave X bounce is complete as far as 5117.3 pivot stays intact. If Index breaks below 4847 without

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