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Elliott Forecast

Eric Morera

Elliott Wave View: Nikkei (NKD) Searching for Support

February 22, 2022 By

Nikkei Futures (NKD) is presently at the 100% – 161.8% Fibonacci extension from February 16, 2021 high and the Index is searching for support. Short Term view suggests that the decline from November 16, 2021 high is unfolding as a . Down from November 16, 2021 high, wave 1 ended at 27390 and rally in wave 2 ended at 29420. The Index then resumed lower in wave 3 towards 26050 and wave 4 bounce ended at 27897. Wave 5 is now in progress with internal subdivision as another impulse in lesser degree.

Down from wave 4, wave (i) ended at 26845 and rally in wave (ii) ended at 27555. Index then resumed lower in wave (iii) towards 26550 and rally in wave (iv) ended at 27025. Index is expected to complete wave (v) soon and this should complete wave ((i)) in higher degree. Afterwards, Index should rally in wave ((ii)) to correct cycle from February 10, 2022 high before the decline resumes. Near term, as far as pivot at 27897 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside. Potential target for wave 5 lower is 123.6 – 161.8% external retracement of wave 4 at 24905 – 25615 area.

Nikkei 60 Minutes Elliott Wave Chart

Nikkei (NKD) Elliott Wave Video

Source:

#elliottwave #trading #NKD

23/02/2022 1 EN

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Elliott Forecast

Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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