NI225, Elliott wave analysis■Outlook of NI225(NIKKEI) on 1M chart.
I think that we are on sub-wave (1) of wave Ⅴ on the Upper Degree shown as Blue-line.
Sub-waves of WaveⅤare Red-line. Probably, The sub-waves of "wave Ⅴ" will be "Impulse".
Sub-wave (1) of waveⅤ looks like completed because of sub-wave 5 of wave (1) broken acceleration channel line.
The trend will switch to a down-trend. Next is wave(2). It probably is a big retrace.
probably DJI will crash, and Nikkei will be linkage to DJI.
If you want to know more, read my idea about DJI.
If the assumption is correct, the target of wave (2) is as follows.
1. 38.2% Fibo levels of wave (1), 17,500.
2. Closing price of sub-wave 4 of Wave(1), 16,400.
3. Closing price of sub-wave ⅳ of Wave4, 14,800.
4. 61.8% Fibo levels of wave (1), 12,300.
5. Resistance line touch, 11,185.
In this scenario, the stop loss level is 30,715.
■Outlook of DJI(Dow),3Days-6months, Dec 19, 2021 idea.
■Outlook of DJI(Dow),1Day, Dec 25, 2021 idea.
