Long Setup - WXY Correction Complete + MACD Hidden DivergenceE-mini Nasdaq-100 FuturesCME_MINI_DL:NQ1!PropTradingAuthorityThe NASDAQ 100 E-mini Futures (NQ) is presenting a compelling long opportunity following the completion of what appears to be a WXY corrective pattern, supported by bullish hidden divergence on the MACD indicator. Technical Analysis WXY Corrective Pattern Analysis: The market has been consolidating in a complex corrective structure since the February highs. The pattern shows: Wave W: Initial decline from 26,400 to approximately 24,000 Wave X: Counter-trend rally back to 26,400 area Wave Y: Final corrective leg down to current levels around 24,569 This WXY formation represents a typical complex correction that often precedes significant trend resumption. The current price action near the Y wave terminus suggests the corrective phase may be nearing completion. MACD Hidden Divergence: The 4-hour MACD is displaying classic bullish hidden divergence characteristics. While price has been making lower lows during the Y wave decline, the MACD histogram and signal lines are showing higher lows. This divergence pattern typically indicates underlying strength and often precedes trend continuation moves. The MACD reading of -164.39 represents an oversold condition that historically has marked significant turning points in this timeframe. Trade Rationale Complex corrective patterns like WXY often exhaust selling pressure, creating favorable risk-reward scenarios for trend continuation trades. The confluence of pattern completion and momentum divergence strengthens the probability of a bullish reversal. Market structure suggests we’re approaching a critical juncture where institutional buying could emerge, particularly given the technical oversold conditions and pattern maturity. Entry Strategy Primary Entry: 24,500 - 24,600 zone (current support area) Stop Loss: Below 24,000 (invalidation of pattern) Initial Target: 25,500 (previous resistance) Extended Target: 26,200 - 26,400 (pattern projection) Risk Management The setup offers approximately 2:1 risk-reward ratio to the initial target, with potential for 3:1 or better on extended targets. Position sizing should account for the volatility inherent in index futures. Market Context With the current date being March 23, 2026, we’re in a period where technical patterns often carry increased significance due to quarter-end positioning and institutional rebalancing activities. The broader market sentiment and the completion of this corrective structure align to create what could be a significant inflection point for the NASDAQ 100. Trade Management: Consider scaling out partial profits at the initial target while allowing remaining position to run toward extended objectives with a trailing stop strategy.