Nikkei Update: charting the retrace before ATH

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:

評論:

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.

評論:

Excellent! The bounce looks to be holding

評論:

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