Nikkei to bottom at 18,500 ? JPN225 bottom in sight?
Crazy week for the Yen, but the Japanese stock index held within range.
Crurently looks like a wave (4) in progress, looking for wave (5) to start.
The 5 wave impulse would complete leg C of the correction.
If it falls through the 18,500 zone, then it could be quick trip to next zone below.
If it does fall through the first support, I will analyze that move and post a new Idea.
Background:
I trade mostly Forex and Crypto, but I watch the stock indices for risk sentiment.
I started following the Nikkei in Octo 2018
Then tracked a temporary botttom. My support zone was off by one increment, but the resistance zone proved valid
As the bounce progressed, I could see a 5 wave impulse starting and got that about right
Some of the best long trades came on this plan
So now I am trying to plot a possible bottom
Crurently looks like a wave (4) in progress, looking for wave (5) to start.
The 5 wave impulse would complete leg C of the correction.
If it falls through the 18,500 zone, then it could be quick trip to next zone below.
If it does fall through the first support, I will analyze that move and post a new Idea.
Background:
I trade mostly Forex and Crypto, but I watch the stock indices for risk sentiment.
I started following the Nikkei in Octo 2018
Then tracked a temporary botttom. My support zone was off by one increment, but the resistance zone proved valid
As the bounce progressed, I could see a 5 wave impulse starting and got that about right
Some of the best long trades came on this plan
So now I am trying to plot a possible bottom
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