Double Bottom vs. 1-2-3 !!!

INDEX:NKY   Nikkei 225 Index
311 0 38
The market reached a Pivot action point! We are trading near the normal correction Level, the fibo 0,5. Here a Turnaround is always possible.
If the actual Level will be bought, a shortterm upswing can be exspected - a double bottom will appear.
Trading below 14.850 instead will accelerate the down-momentum.

Former Analysis:NIKKEI caught in the DownTrend

Since August 15 the downtrend is dominant - the momentum is still bearish as long we trade in this trend. (Red 1-2-3 counting)
SInce the index has tested the downtrend`s bottom edge in February 16 a new shortterm uptrend established itself. (green 1-2-3 counting) Within this trend you can exspect a new run to the trend`s upper edge at ~ 1790.

If the market really will reach this Niveau the Situation is getting much more interesting.
1. Breakout of the BIG DOWNTREND
2. Confirmation of the BIG DOWNTREND
1.) Procyclical Stoppbuy when Price > 1790/1800. Here are based the last 2 Highs and the SMA 200 as a longterm buying Trigger. The possible TP`s could be @ 20.000/21.000
2.) Anticyclical Shortposition with Entry @17.465-18.000 near the down-and uptrend`s uper edges with TP 16.170
3.) Procyclical shortterm Shortposition when the Price is below the last (green) valid "3". TPs are 15.400 / 14.750
4. Procyclical longterm Shortposition when the Price is below the last valid (red) "2" --> TP could be 12.800

In my Chart i illsutrate all the thinkable positions

Good Luck!

Trade closed: target reached
Comment: Next upswing ahead?
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