Nikkei Update: charting the retrace before ATH

19 set 2018

Just posting a quick 15min chart to see how the fibs and EW play out during expected retrace.
I am still expecting a rather shallow wave 4 to then start wave 5, but lets see

This is an update to my larger timeframe Idea posted here:

20 set 2018

Nota

Wow, sudden drop from political news out of Japan.

Apparently Abe won and will remain Prime Minister (now the longest in Japan's history).'
I suppose the spike was funds re-balancing their portfolios.
I am expecting that ''more business as usual'' sentiment should allow continued uptrend.

But I am mostly a technician, so I just appreciate the precise ping on first spike down.

I think it will go lower though, so my bounce zone may have been way too optimistic, lets see.

20 set 2018

Nota

Excellent! The bounce looks to be holding

25 set 2018

Nota

As anticipated in my follow up plan we hit hard resistance (and I assume some news out of Japan)

Hit play three times.

After hitting resistance, it plunked right down into a support zone Lets see if it holds, I suspect not