Nikkei is now continuing what seems to be the second half of the possible wave C. I am assuming that Nikkei is in a weekly 'Running Flat' pattern, where the C has already started. The last few days was the consolidation for the continuation to the down side. It looks highly likely that Nikkei will go down and make a lower low on the daily . Would it have an impact...
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NI225 has been labeled within a Grand Super-Cycle degree wave B (pink), which has been unfolding ever since the Tokyo Stock Bubble back in 1990.
Structure - Flat Formation
1990 bubble peak and down until Apr 2003 bottoms - Super-Cycle (w) (purple)
Long term view of Nikkei 225. Time for a big correction ? Lets see
Share your thoughts and observation in comments session :)
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That's all it is at this stage. I am not looking to buy the Nikkei index, but a number of interesting individual stocks mirror this wider theme. Sort of a lower swing high being set and "one more drop" to set a higher low then off we go sort of thing. Let's see.
Short to short-mid bearish, medium term to long term bullish.
There might be a chance that Tom McClellan's Eurodollar Indicator is telling some people something ... QED1! Commercials Positioning with a certain shift fitted perfectly to Stock Marker and FEF Fund Rate lows... But of course it's different this time .
NI225 last support at 20310.5 this is the last man standing before a potential drop to 18818.6 (1 year support).
I'm looking for a reversal here since most major markets are on some strong support levels.
Will that hold?
Wait and see.
My trading view charts data delayed, however nikkei is on buy, this signal that JPY will gain strength.
4hr:Broke and close above resistance at 21100.83
1hr:Buys at support 21100.83 or buys stops 21200.00
4H CHART EXPLANATION:
Main Items we Observe on the Chart:
-Price has broken the ascending trendline
-Currently, price is on a support zone
-We will wait for a corrective structure on the support zone before taking any trade
Based on this if the price breaks down with a close candlestick below 20718.0 we expect a continuation of the downward movement towards...