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Two Charts for the Nasdaq

We are looking for a counter trend top to setup into the 18th - 19th July where two minor Cycles converge so if we begin to move lower from these dates we could be down till the 25th July which is the small section we are concentrating on . the previous swings have been outlined which may give us an indication as to the extent of the move down as it is only around a 5 day trading period which is similar to the time for the previous swing down which dropped 1751 points with heavy price gaps within this period so I am looking for the projected range to have a similar price amplitude .


There are a few additional dates outlined which are intermediate Cycle points so they are quite a bit stronger than the current minor Cycles which I have constructed this swing around

The first date to watch is the 5 - 8th August which comes in over the weekend period so if the market does move down into this point and hold Low we could be looking at a strong move up into the 19th August which could turn out to be counter trend Top so these are two key dates to watch along with the 26th Sept which could turn out to be Top so I am just listing these dates as a reference point to come back to . My strategy is to just concentrate on the upcoming move in between the 18th - 19th July projected counter trend top and if that holds we can look to manage our position down into the 25th July Low and if we have good profits on the short side at this point it would be prudent to take some profits and then I will wait another week or so to see how the 5 - 8th August is setting up and keep my powder dry until a few days before this point and once the position of trend at that point becomes clear we can then determine if the 5-8th July is setting up as either Top or Bottom and if that occurs we can look to trade the next section up till the 19th Aug so please wait for these dates to present themselves and then the position of trend should be clear a few days beforehand .




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Looking for trend to move down 20th July could be counter trend Top so it would be wise to place a time based stop just above the 20th July bar .

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dave0966
dave0966
Jul 20, 2022

Hello New to the group. With the move today, If you're short at the moment is this a time to close that position, or prudent to hold?

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giannimarinozzi
giannimarinozzi
Jul 20, 2022

hello, 18th-19th is over...giving a little bit of space today qqq should go down?

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