Nikkei 7 swing Elliott Wave Structure

Today, we take a look at structure of the decline in Nikkei futures from 9.25.2014 peak. This decline is unfolding as a ( W )  – ( X ) – ( Y ) structure when ( X ) failed between 50 – 61.8 fib retracement area of ( W ). From the secondary (X ) high, Nikkei is showing 11 smaller swings and ideally looking for 15213 – 15058 to complete wave “W” of ( Y ). After that we expect a 3 wave bounce in wave X and lower again toward 14808 – 14558 area to complete the sequence. We don’t like buying into proposed X wave bounce. As we always say, follow W-X-Y and you would know where the market is going. Try to look for 5 wave moves in the market and most likely you would be lost. is here to teach traders the right way to trade, follow the swing sequence, invalidation levels and arrows to highlight trend in a particular time frame.