AndyM
Long

NIKKEI has up to 10% more upside. Because why not??

FX:JPN225   Nikkei 225 index of Japanese listed shares
I had a more detailed look at Nikkei this morning, it may sound ridiculous but Nikkei may easily have a 10% upside opportunity. There is still one relatively large wave 5 incomplete so looks like we are in for a couple extra months of growth.
The target may be at approx 22600 which is 1.382 of .
Maybe, do I spy 5 waves up in the 4h chart?

Maybe it's a corrective ZZ?

snapshot


Posted a chart. I'll fade any rally here.
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AndyM PRO IvanLabrie
a year ago
Do you mean, the 4H chart of JPY225?
I think this may be an X wave up, the reason is because the prior C wave down had more momentum than A - this usually causes X waves to appear.
snapshot
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IvanLabrie PRO IvanLabrie
a year ago
GBPJPY: Long for now but watch it around September 28th
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IvanLabrie PRO IvanLabrie
a year ago
Maybe wave 2 of the decline?
That sure looks like a significant top and I'm short gbpcad, gbpnzd and gbpaud already...
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AndyM PRO IvanLabrie
a year ago
I don't trade the complex crosses - for NIKKEI I think the definitive reversal has not hapenned yet, the growth just doesn't look complete yet. I saw just three waves down, but not a full-proof impulse. I may be wrong of course, this is why I want to see what other development may happen with other indices for the next 2 weeks. But given the speed at which SPX recovered after Greece event it really seems the optimism is still there - which is supported by the wave count of Europe as well.
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IvanLabrie PRO AndyM
a year ago
Well, that would favor my longer term diagonal.
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