Nikkei 225 Index(Daily). Short-term topping potential.

FX:JPN225   Nikkei 225 Index
580 8 11
Very Strong run on the Nikkei Index after the Triangle(abcde) break_out, with recently, some signs of fatigue.
Potential AB=CD from 16/5/2014 Low. (Daily time_frame View)
Three drives potential pattern(Non-ideal), possible short term topping formation with Elliot Wave Ending Diagonal characteristics. ( converging Wedge )
Potential mean regression to Uptrend_line, possibility.
Below 20 sma (H4), with bearish divergence on the Daily RSI and MACD , Lower Daily candles.
With Fibonacci Weekly pivots .
This is counter Trend idea, so adds to risk. ( HH - HL formation intact )
Nice ending diagonal completion eh?
+2 Reply
Lol just entered short on this this morning for exact same reasons - nice spotting - on prorealtime charts the daily has an evening star as well... risk is small potential reward is large so good opportunity
Thanks for pointing to this pattern, didn't notice it.
+1 Reply
Technician PRO Technician
Man was a perfect pattern to short. Really missed that
+1 Reply
rv Technician
You very welcome. Thanks for all the advice.
Corrective decline, probably wave 5 of 3 here, but one more wave up pending...
I have the same chart, published some time ago:

rv IvanLabrie
thanks for comment and charts. lets watch the USDJPY as well.
+1 Reply
Definitely, eurusd and usdjpy should offer some great opportunities on the long and short side respectively.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out