Nikkei225: Potential TCT into A Cypher (Some Random Analysis)

FX:JPN225   Nikkei 225 Index of Jaрanese Listed Shares
The Forex markets have been kicking my tail this week so I decided to take a look at some other markets simply to clear my mind. Conducting technical analysis is actually a stress reliever to me, when I get do it on something that I don't trade. A few of my clients have expressed that they trade many of the indices, which lead me to the Nikkei.

Initially the first thing that popped out to me was the potential bearish Cypher pattern which met up with an outstanding amount of Fibonacci confluence after putting on a few extensions, retracements and inversions. I also had an abcd move projected last night, but couldn't say for sure since the "C" leg was still in progress.

As I took another look this morning i see that the C leg has retraced to a level deep enough to provide a rather good risk to reward for a trader looking to hop on long...not because of the potential Cypher completion, rather because of the overall shift in the trend that we just saw after achieving a HHHC.
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try ger30 was bullish bat on the 4hr , this could still turn into a cypher? just roughly looking at around 19258?
+1 Reply
Akil_Stokes PRO dionvuletich
I had it as a Gartley actually, but yes if it retraces it could potentially turn into a Cypher as well. That would make back to back to back wins in a very short amount of time. Not bad at all for those able to catch them
Spot on \o/
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