In this article we’re going to take a quick look at the Elliott Wave charts of NIKKEI published in members area of the website. As our members know NIKKEI is showing impulsive bullish sequences that are calling for a further strength. Recently we got a 3 waves pull back that has ended right at the Blue Box zone (our buying area) . In the further text we are going to explain the Elliott Wave Forecast and trading setup.
NIKKEI Elliott Wave 4 Hour Chart 07.11.2022
NIKKEI is giving us pull back in 3 waves that are reaching extreme area at 32150-31082 blue box ( buying zone) . We don’t recommend selling the futures and prefer the long side. NIKKEI should ideally make a rally toward new highs or 3 waves bounce alternatively. As our members know Blue boxes are based on 100% – 161.8% Fibonacci extension area , that we trade in 3, 7, or 11 swing corrective sequence. Once bounce reaches 50 Fibs against the B red high , we will make long position risk free ( put SL at BE) and take partial profits. Invalidation for the long trades is break of 1.618 fib ext : 31082
Quick reminder on how to trade our charts :
Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable. 🚫
NIKKEI Elliott Wave 4 Hour Chart 07.19.2022
NIKKEI made good reaction from our buying zone. We call wave 4 red completed at 31811 low. The price has reached and exceeded 50 fibs against the ((b)) black high. Members who took the long trade are enjoying profits now in a risk free positions. We would like to see break of 3 red high, to confirm next leg up is in progress.
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