NASDAQ Sell Setup

2월 19일

According to price action strategy combined with resistant and support levels, I think NASDAQ will fall till 17199.81 price level before continuing to the upside. this is due to the following reasons: on H4 price has rejected the 18049 level creating a new resistant or High, it the fell back to 17613 level then it continued to the up side where it failed to break the previous High which is 18049, creating an M formation or Double Top.
Using elliot wave market cycle i see a possible pull back.
I will only enter sell trades when price breaks the 17613 level.
Thank you and Happy trading