Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of NIKKEI Futures published in members area of the website.  As our members know NIKKEI Futures has recently  made pull back that has unfolded as Elliott Wave Double Three Pattern. It made clear 7 swings from the November 20th peak and completed correction right at the Equal Legs zone( Blue Box Area) . In further text we’re going to explain the  Elliott Wave pattern  and trading setup.

NIKKEI Elliott Wave 1  Hour  Chart 12.04.2023

NIKKEI is doing correction that is unfolding as a 7 swings pattern. Pull back has ((w))((x))((y)) labeling. The price structure is incomplete at the moment, calling for a further weakness in near term toward : 32875-32439. We don’t recommend selling Nikkei and prefer the long side from the marked Blue Box ( buying zone). Once Nikkei reaches our buying area, it should ideally make either rally toward new highs or in 3 waves bounce alternatively. Once bounce reaches 50 Fibs against the ((x)) black high, we will make long position risk free ( put SL at BE) and take partial profits. Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area. 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 1  Hour  Chart 12.06.2023

NIKKEI made extension toward our buying zone at : 32875-32439. The futures found buyers at the blue box as expected and we got good reaction from there. Bounce already reached 50 fibs against the ((x)) black connector which confirms cycle from the peak is done. Consequently, any long positions from the equal legs area should be risk free by now. As far as the price stays above 32700 low, we can see further strength in Nikkei. Keep in mind that market is dynamic and presented view could have changed in the mean time.  You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book. Elliott Wave Forecast We cover 78 instruments in total, but it’s important to keep in mind that not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room.  If not a member yet,  Sign Up for Free 14 days Trial now and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy. Join us now and start learning from market experts. If you are looking for professional real-time analysis in Forex, Indices, commodities,Crypto currencies , stocks and ETFs you have come to the right place. Welcome to Elliott Wave Forecast !    

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