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Nikkei/USD Futures

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NKD1! trade ideas

Elliott Wave View: Nikkei (NKD) Ready to Extend HigherShort term Elliott Wave view on Nikkei (NKD) suggests the Index ended cycle from October 9 peak in wave (2) at 22889. Subdivision of wave (2) unfolded as a zigzag. Down from October 9 peak, wave A ended at 23380 and wave B ended at 23705. Wave C of (2) ended at 22889 which can be seen in the 45 minutes chart below. Index has since turned higher in wave (3). However, it still needs to break above the previous peak on October 9 peak at 23765. Up from wave (2) low at 22889, wave ((i)) ended at 23160 and pullback in wave ((ii)) ended at 23045. Index resumed higher in wave ((iii)) towards 23450 and pullback in wave ((iv)) ended at 23350. Index should end wave ((v)) soon and this should complete a 5 waves impulsive rally wave 1 in higher degree. Afterwards, Index should pullback in wave 2 as a zigzag to correct cycle from October 30 low before the rally resumes. As far as wave (2) pivot low at 22889 stays intact, expect pullback to find support in 3, 7, or 11 swing. Potential minimum target higher in wave (3) is 100% – 123.6% Fibonacci extension from September 21 low, which comes at 24123 – 24417.
CME:NKD1!Long
by Elliottwave-Forecast
Spooky Trendline NKDSince 2018 NKD1! has been posting diminishing returns within their market. Though, these are new times none of us have witness when it comes to new economic and monetary policy. Do we reject this trend and print yet another lower high? Or does the Japanese market breakout? What is interesting is that during the US market correction that occurred at the start of September, NKD merely chopped. This appears to be a bullish sign, but we shouldn't enter a play at this moment. We will wait for either a breakout or a breakdown to position ourselves in the correct manner.
CME:NKD1!
by UnknownUnicorn1946597
3 Press Low In To Channel Low Bear Failure PotentialSellers have been very strong on the drive down and now breaking lower again with a 3 press low is beginning to show signs of slowing. Each consecutive low is less distance than before and rounding off and it just so happens to be occurring at the channel lows. Buyers are under pressure here and this is a last ditch for them. A break below the low would be a potential reversal signal for 2 legs lower but, assuming bulls hold above the low (or don't allow it to break much), buyers have a great R:R shot at a long that could potentially turn in to a much longer term swing.
CME:NKD1!Long
by SSF-SlingshotFutures
Elliott Wave View: Pullback in Nikkei Should ContinueElliott Wave View of Nikkei (NKD_F) suggests the Index ended the cycle from April 2 low as wave ((3)) at 23630 high. Currently, Index is doing a pullback in wave ((4)) to correct against that cycle. The correction is proposed to be unfolding as a double three Elliott Wave Structure. Down from wave ((3)) high, wave A ended at 22960 low. The bounce in wave B ended at 23325 high. Index then resumed lower and ended wave C at 22840 low. This completed wave (W) in higher degree. Afterwards, Index bounced higher in wave (X) to correct against the cycle from September 3 high. The subdivision of the bounce unfolded as another double three correction. Wave W ended at 23275 high and wave X ended at 23040 low. Wave Y ended at 23310 high, which also completed wave (X) in higher degree. Since then, Index has resumed lower and broke below previous wave (W) low to confirm that next leg lower in (Y) has already started. The 100-161.8% extension of wave (W)-(X) where (Y) can potentially ends is at 22030-22520 area. If reached, that area should see a reaction for 3 waves bounce at least.
CME:NKD1!
by Elliottwave-Forecast
Elliott Wave View: Nikkei (NKD_F) Extending HigherElliott Wave View in Nikkei Futures (NKD_F) suggests the Index has just broken above June 5 high, suggesting the cycle from March low remains alive and the Index has resumed higher. The break higher is likely still part of wave ((5)) of the same cycle from March low. Shorter cycle, 1 hour chart below shows pullback to 21705 ended wave (2). Up from there, the Index ended wave 1 at 22655 high. The internal subdivision of wave 1 unfolded as 5 waves impulse Elliott Wave Structure. Wave ((i)) of 1 ended at 22005 high and wave ((ii)) pullback ended at 21800 low. Rally higher in wave ((iii)) then ended at 22405 high, followed by wave ((iv)) pullback which ended at 22340 low. Wave ((v)) then extended higher and ended at 22655 high. Afterwards, the Index did a pullback in wave 2, which ended at 22205 low. From there, the Index has extended higher in wave 3. Up from wave 2 low, wave ((i)) ended at 22535 high and wave ((ii)) dips ended at 22345 low. Index then extended higher in wave ((iii)) towards 22960 high. The pullback in wave ((iv)) ended at 22670 low. The index can still see another high before ending wave ((v)). This would end wave 3 in the higher degree. Index then could correct within wave 4 before resuming higher again. The latest rally has broken above previous wave 1 high to confirm that the leg higher is already in progress. While pullback stays above 22205 low, expect the dips in 3,7 or 11 swings to find support for more upside.
CME:NKD1!
by Elliottwave-Forecast