Long

NIKKEI - Wave 5 - Elliott Wave

Updated

Wave 4, completed with Regular Flat, wave 5 started, aiming to 35000.

Trade active

Wave 1 within the final Wave 5 is now confirmed after breaking 32709 in the future. VI is up again today, promising signal too.

Note

Wave 1 is always difficult to take, wait for the end of wave 2, ABC. Tomorrow is SQ in Japan. It will retrace soon or later ('price' retrace, rather than 'time' one). At least 50% of wave 1, at least... then it will form Impulse or diagonal.

Note

Has the wave 2 ended at 61.8% retrace?

Trade active

🎯 Target 34865 area

Note

(i)-(ii)-i-ii structure.

Note

🚀 Hit "Boost" if you like this plan! 🙌

Note

I've started noticing a glitch in my Monthly counts... still aiming for near 35k, but it will fail to go above 35k.

Revised wave counts coming after this plan works. Perhaps when next retrace happens, back to 31349 area...

Below, wrong counts, unrealistic wave (3) extension:

Note

About YCC, "discussed", not "decided" but this is how it went down... Tricky situation... at the moment. BUT nothing major in analysis last 6 hours.. it means rally back up?!? Watch out for BoJ announcement.

Trade active

Expanding Triangle completed after BoJ announcement, ending wave (ii).

Note

❗️ Today's sell creates 2 scenarios... Risky if 33055 fails:

Trade closed manually

Bad news.. Fitch Ratings has downgraded US's long-term foreign currency debt rating.

Note

Great escape yesterday as soon as I realised (a)(b)(c) because Nikkei closed below (a) at 32781. it was NOT (1)(2)(3)... This correction has not done yet, it's a larger Flat Regular pattern. New buy at 31500 (100% ext) or 31000 (127.2%). I prefer 31000 area as it's 38.2% retrace of wave iii (circle) if it gets there.

Note

Possible buys at these levels, TOPIX must complete its corrections too.

31506 (100% ext. & 31420 support)
31287 (weekly pivot)
31045/30968 (127.2% ext. 38.2% ret. and very technical!)

Order cancelled

Note

One of my plans. That drop was probably 3 waves, not 5 waves, it means Diagonal or Triangle to finish 5-wave C wave of Flat Regular.
As Future made lower low, probably not a Triangle... so I'm expecting this idea, Contracting Diagonal 🤞 Let's see!

Note

... or it will just go straight down to 31000. Buying level 👍

Trade closed: target reached

Mas

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.