NAS100 EW analysis - bullish triangle breakout.

12 Feb 2015

The NAS100 seems to be following a bullish triangle that has broken out to the upside similarly in the USDJPY. It makes sense that the two should follow each other as the JPY pairs are closely tied to the stock market. This makes a high confidence buy oppotunity because on a smaller fractal, a clear impulse has presented its self clearly marking a tradable primary wave at the beginning of the triangle thrust. That there should be a triangle at this point in the stock market is a red light warning as triangles are terminal move, occurring before a reversal in wave B or in this case wave iv position.