The Japanese index Nikkei 225 illustrates a potential ascending channel. Price action could drive to the index to visit new highs. Read with us what to expect for the coming days on Nikkei.
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1. The short-term structure shows a potential wave ((3)) labeled in black in progress.
2. In the long-term, the current Elliott wave sequence could be part of a wave V labeled in blue degree. This path could carry the Nikkei to see new higher highs.
3. The price could make a retracement to the area between 22,250 pts and 21,970 pts. Once tested in this area, Nikkei could continue the previous bullish sequence.
4. The potential bullish targets are at 23,040 pts, 23,450 pts, and 23,850 pts. The bullish scenario will be invalid if the price drops and closes below 21, 550 pts.
Trading Plan Summary
- Entry Level: 22,250 pts.
- Protective Stop: 21,550 pts.
- 1st Profit Target: 23,040 pts.
- 2nd Profit Target: 23,450 pts.
- 3rd Profit Target: 23,850 pts.
Risk Warning: CFD and Spot Forex trading both come with a high degree of risk. You must be prepared to sustain a total loss of any funds deposited with us, as well as any additional losses, charges, or other costs we incur in recovering any payment from you. Given the possibility of losing more than your entire investment, speculation in certain investments should only be conducted with risk capital funds that if lost will not significantly affect your personal or institution’s financial well-being. Before deciding to trade the products offered by us, you should carefully consider your objectives, financial situation, needs and level of experience. You should also be aware of all the risks associated with trading on margin.
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