Nikkei 225
Double Zigzag (w)-(x)-(y) in progress from the 3/30 low!
(y)c is an expanding diagonal currently in Wave (5)
We are now inside (y)c expanding diagonal Wave (5).
Today’s intraday dip was Wave (4), which touched the Wave (1) low.
Because this is an expanding diagonal, it needed to tag the end of Wave (3).
Tonight’s rally has cleanly done exactly that, completing the structure.
Once this Double Zigzag (w)-(x)-(y) finishes, the next key question is:
1. Will it turn into a simple corrective decline?
2. Or will it develop into a Triple Zigzag decline?
This is the major focus point going forward.
(1H chart – real-time update)
#Nikkei225 #ElliottWave #DoubleZigzag #WaveAnalysis
Double Zigzag (w)-(x)-(y) in progress from the 3/30 low!
(y)c is an expanding diagonal currently in Wave (5)
We are now inside (y)c expanding diagonal Wave (5).
Today’s intraday dip was Wave (4), which touched the Wave (1) low.
Because this is an expanding diagonal, it needed to tag the end of Wave (3).
Tonight’s rally has cleanly done exactly that, completing the structure.
Once this Double Zigzag (w)-(x)-(y) finishes, the next key question is:
1. Will it turn into a simple corrective decline?
2. Or will it develop into a Triple Zigzag decline?
This is the major focus point going forward.
(1H chart – real-time update)
#Nikkei225 #ElliottWave #DoubleZigzag #WaveAnalysis
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.