Share:

Cycle from 10.4.2023 low in Nikkei Futures (NKD) is in progress as a 5 waves Elliott Wave diagonal. Up from 10.4.2023 low, wave 1 ended at 32690 and pullback in wave 2 ended at 30405. The Index extended higher in wave 3 towards 33870. Wave 4 ended as a zigzag structure. Down from wave 3, wave (i) ended at 33200 and rally in wave (ii) ended at 33835. Index extended lower again in wave (iii) towards  33195 and wave (iv) ended at 33585. Wave (v) lower ended at 32695 which completed wave ((a)).

Nikkei futures (NKD) 60 minutes Elliott Wave chart

Chart

Corrective rally in wave ((b)) unfolded as a zigzag structure. Up from wave ((a)), wave (a) ended at 32975 and pullback in wave (b) ended at 32850. Final leg wave (c) ended at 33465 which completed wave ((b)). The Index then extended lower in wave ((c)) as a 5 waves impulse. Down from wave ((b)), wave (i) ended at 33335 and wave (ii) ended at 33430. Wave (iii) lower ended at 32350 and wave (iv) ended at 32505. Final leg wave (v) ended at 32211 which completed wave ((c)) of 4. Wave 5 higher is currently in progress. As far as pivot at 32211 low stays intact, expect the Index to extend higher. Break below 32211 from here suggests the Index is still in the process of ending wave 4.

NKD_F Elliott Wave video

 

Share: Feed news

FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

AUD/USD extends losses toward 0.6500 after softer Australian CPI data

AUD/USD extends losses toward 0.6500 after softer Australian CPI data

AUD/USD is extending losses toward 0.6500  in Asian trading on Wednesday. The Aussie pair is undermined by softer-than-expected Australian monthly CPI inflation data, which fans RBA rate cuts bets. Meanwhile, the US Dollar is building on its recovery amid cautious markets. 

AUD/USD News

EUR/USD grinds lower toward 1.0800 as USD extends recovery

EUR/USD grinds lower toward 1.0800 as USD extends recovery

EUR/USD is grinding lower toward 1.0800 in early European morning on Wednesday. The extended recovery in the US Dollar amid a deterioration in risk sentiment is weighing on the pair, as the focus shifts to a data-packed day ahead. 

EUR/USD News

Gold price extends the range play around 50-day SMA, modest USD strength caps the upside

Gold price extends the range play around 50-day SMA, modest USD strength caps the upside

Gold price continues with its struggle to gain any meaningful traction and remains confined in a familiar range around the 50-day Simple Moving Average (SMA) through the Asian session on Wednesday.

Gold News

Bitcoin price extends gains as capital inflows near all-time highs

Bitcoin price extends gains as capital inflows near all-time highs

Bitcoin (BTC) price remains northbound, a status that was invigorated by Monday reports on MicroStrategy and BlackRock. With growing optimism in the market, the risk appetite for investors is also proving elastic. 

Read more

Twiddling thumbs ahead of a US data barrage

Twiddling thumbs ahead of a US data barrage

Traders are keenly aware that the recent components of the Consumer Price Index (CPI) and Producer Price Index (PPI) have influenced the Personal Consumption Expenditures (PCE), and it is unlikely that they will receive an inflation print below the Federal Reserve's target rate.

Read more

Forex MAJORS

Cryptocurrencies

Signatures