Wave Theory , NIKKEI 225 index, Daily

AMEX:NKY   Nikkei 225 Index
Here i have drawn in two sets of wave patterns , one red and one black, both suggest the market is overbought and it is due for a correction. I have also identified a bearish gartley pattern completed recently near the top of the market.

The gartley pattern allowed me to name the red wave pattern as the accurate pattern because the gartley pattern suggests a reversal to the 1.618 extension and the structure provided in the red wave pattern also suggests consolidation in the same area.

I am using this chart not to trade, but as information for other JPY based trades over the next few weeks, if their economy is correcting , maybe their currency will also.

Thanks for checking out my index analysis , I can't wait to hear what you all think, so please like if you agree, or comment why you disagree

As always follow my for more updates and trades, and Good Trading
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