Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of NIKKEI NKD #F , published in members area of the website. As our members know, NIKKEI Futures has had incomplete bullish sequences according to Sequence Report. Consequently, we advised our members to avoid selling it and keep on buying the dips in the sequences of 3,7,or 11 swings whenever get chance.
NIKKEI 1 Hour Elliott Wave Analysis 9.5.2018
Current Elliott Wave analysis suggests NIKKEI is correcting the cycle from the 21837 low. Wave 4 red pull back looks to be unfolding as Ellott Wave ZIG ZAG pattern , labeled as ((a))((b))((c)) black . As of right now these 3 waves looks incomplete, suggesting another short term move down should be ideally seen toward 22432-22136 ( buying zone). As far as the pivot at 21837 low holds we favor the long side from blue box area. NIKKEI is expected to make another leg up to complete July cycle as 5 waves structure.
NIKKEI 1 Hour Elliott Wave Analysis 9.17.2018
Futures has given us last swing down toward our buying zone 22432-22136. Buyers have appeared shortly after and we got turn higher. As a result members who took long trades are now enjoing profits with risk free positions. Recently we got break of 08/30 peak, that confirms next leg up is in progress. Now intraday buyers can look to buy short term dips against the 22160 low.
Note: Market is dynamic and presented view could have changed in the mean time. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.
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