14Apr

NASDAQ Elliott Wave Forecast Shows Bullish Impulse Structure with Strong Trading Opportunity Based on Market Signals

NASDAQ Elliott Wave Analysis – Trading Lounge Day Chart

NASDAQ Elliott Wave Technical Analysis

FUNCTION: Bullish Trend

MODE: Impulsive

STRUCTURE: Navy Blue Wave 1

POSITION: Gray Wave 3

DIRECTION NEXT LOWER DEGREES: Navy Blue Wave 2

DETAILS: Gray wave 2 appears completed; navy blue wave 1 of 3 is now unfolding.

The NASDAQ Daily Elliott Wave Analysis reveals a bullish trend in motion, supported by an impulsive wave structure. The recent completion of gray wave 2 signals the transition into navy blue wave 1, forming part of a larger gray wave 3 sequence. This development marks the beginning of a new upward phase within the broader bullish Elliott Wave pattern.

Navy blue wave 1, as the initial leg of a five-wave sequence, often sets the tone for the trend’s direction. Although it may lack the strength of wave 3, its role in establishing momentum is critical. The end of gray wave 2 has created favorable technical conditions for this current wave to advance, laying the foundation for continued bullish action.

As wave 1 progresses, traders should prepare for the emergence of navy blue wave 2—a likely corrective move offering potential entry on a pullback. Watching Fibonacci extension and retracement levels can help identify key inflection points that signal wave 1 completion and wave 2 initiation.

The daily timeframe highlights the early stages of a bullish Elliott Wave cycle. While explosive movement may not yet be visible, signs such as rising volume and steady price appreciation can validate the current wave count. Early positioning during this phase can provide strategic advantages ahead of stronger wave developments.

This Elliott Wave forecast suggests a measured yet optimistic outlook for bullish trades. As navy blue wave 1 unfolds within gray wave 3, sustained momentum is expected to build, offering multiple trading opportunities aligned with this larger uptrend structure.

NASDAQ-Index-Day-Cha...


NASDAQ Elliott Wave Analysis – Trading Lounge Weekly Chart

NASDAQ Elliott Wave Technical Analysis

FUNCTION: Bullish Trend

MODE: Impulsive

STRUCTURE: Navy Blue Wave 1

POSITION: Gray Wave 3

DIRECTION NEXT LOWER DEGREES: Navy Blue Wave 2

DETAILS: Gray wave 2 appears completed; navy blue wave 1 of 3 is unfolding.

The NASDAQ Weekly Elliott Wave Analysis confirms a bullish trend under development, aligned with an impulsive wave sequence. With gray wave 2 correction now completed, the index has entered navy blue wave 1—part of the broader gray wave 3 movement. This signals a major shift from corrective to impulsive structure on higher timeframes, indicating sustained upside potential.

Navy blue wave 1 represents the beginning of this renewed bullish sequence. Typically, this wave builds slowly as sentiment transitions, setting the groundwork for future acceleration in wave 3. The structure so far supports a steady uptrend, laying a foundation for continued market strength.

Following the completion of navy blue wave 1, a pullback in the form of navy blue wave 2 is anticipated. This corrective move will likely offer a valuable opportunity to join the trend before the onset of a more aggressive bullish wave 3. Understanding this rhythm is key to optimizing trade entries and exits.

Weekly chart analysis is essential for recognizing the broader Elliott Wave cycle. Traders should observe signs like sustained bullish price action, rising volume, and confirmation from technical indicators to validate the end of wave 1. These cues help prepare for the corrective nature of wave 2 and the strong breakout potential of wave 3.

This outlook remains constructive for longer-term bullish strategies. With the market advancing into gray wave 3 territory, the path is open for continued upside, and the early phases offer the best positioning opportunities. Stay alert for key Fibonacci levels and structural patterns to fine-tune trade setups in line with this evolving Elliott Wave framework.

Technical Analyst: Malik Awais

Source: Visit Tradinglounge.com and learn from the Experts Join TradingLounge Here 

Previous: S&P/TSX 60 Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

NASDAQ-Index-Weekly-...

Related

ASX: CAR GROUP LIMITED – CAR Stock Analysis & Elliott Wave Technical Analysis Suggests Wave Correction Completes

ASX: CAR GROUP LIMITED – CAR Stock Analysis & Elliott Wave Technical Analysis Suggests Wave Correction Completes

CAR Group (ASX: CAR) shows signs of completing a wave (4) correction, setting up for a bullish wave ...

Read More >
USDJPY Elliott Wave Analysis: Strong Bearish Trend, Orange Wave 3 Setups, Trading Strategies, and Daily/4H Chart Forecast

USDJPY Elliott Wave Analysis: Strong Bearish Trend, Orange Wave 3 Setups, Trading Strategies, and Daily/4H Chart Forecast

Detailed USDJPY Elliott Wave analysis highlighting a strong bearish trend and trading opportunities ...

Read More >
EURGBP Elliott Wave Counter‑Trend Setup: Impulsive Gray Wave A within Orange Wave Y with Navy Blue Wave 4 correction insights

EURGBP Elliott Wave Counter‑Trend Setup: Impulsive Gray Wave A within Orange Wave Y with Navy Blue Wave 4 correction insights

This article provides a detailed EURGBP Elliott Wave analysis on both daily and 4‑hour charts. High...

Read More >
New Zealand Dollar/U.S.Dollar (NZDUSD) Elliott Wave Technical Analysis 7 December 23

New Zealand Dollar/U.S.Dollar (NZDUSD) Elliott Wave Technical Analysis 7 December 23

NZDUSD Elliott Wave Analysis Trading Lounge Day Chart dated 7 December 23, provides a comprehensive ...

Read More >
Detailed Breakdown of The Boeing Company Stocks Trends, Price Predictions and BA Elliott Wave Technical Analysis

Detailed Breakdown of The Boeing Company Stocks Trends, Price Predictions and BA Elliott Wave Technical Analysis

This Boeing Elliott Wave analysis provides a detailed breakdown of BA stock trends, price prediction...

Read More >
Polkadot/U.S. dollar(DOTUSD) Elliott Wave Technical Analysis 23 January 24

Polkadot/U.S. dollar(DOTUSD) Elliott Wave Technical Analysis 23 January 24

Polkadot and U.S. dollar Elliott Wave Technical Analysis dated 23 January 24, DOTUSD Elliott Wave Te...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on