NIKKEI On the road to the Quadruple Top

Nikkei 225 IndexTVC

Description

⋅ Aug 6, 2020 11:34 AM

Main items we can see on the chart:

a) The price was on an ascending trendline and at the beginning of 2020 we had a huge bearish movement

b) Since then the price has been rising and re-entered the ascending trendline

c) Currently, we can see a corrective structure (purple lines) and we expect a bullish Resolution IF the price breaks the upper line

d) The Target we will be aiming for is the quadruple top in the historical higher highs zone

e) Another detail to add to the chart is that we have a huge ABCDE Pattern. This type of structure is bullish from a technical perspective

Comments

DePieri76

⋅ Aug 6, 2020 1:46 PM

Hello! I'm beginner and I would appreciate if you could tell why the "A" line didn't start from the top? For me it is clear the movement start on biggest line out of the triangle. Thanks in advance.

ismartinvesting

⋅ Aug 6, 2020 4:00 PM

@DePieri76, it did start from the top it went down and labled it a at bottom

DePieri76

⋅ Aug 6, 2020 4:13 PM

@ismartinvesting, so the larger line outside the triangle, which started the bounce movement i shall not consider, is it?

BrandonrG

⋅ Aug 6, 2020 9:29 PM

looks ready to smash that resistance to smithereens

KarlSederberg

⋅ Aug 6, 2020 5:05 PM

Thanks for sharing your opinion.... hope for the best

GrenScramlin

⋅ Aug 6, 2020 3:41 PM

Nice work👍

FTUKcom

⋅ Aug 6, 2020 1:18 PM

Nice Work!