If price closes without retesting the mode, we might see a steep decline ensue. Entry is at market (below the previous daily low), and the stop loss at the mode. Good luck! Ivan.
I'm a little suspicious of the downside now, thinking equities might rebound a bit higher. But not sure about Nikkei, I'm talking European equities.
IvanLabrie
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Only 2 likes? Interesting...
mkdeep04
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ivan no problem if ppl like or not... am sure all watching silently and following u r comments
any way here is what might https://happen..https://www.tradingview.com/chart/JPN225/PbgPOHJ1-nikkei-eyeing-move-ment-as-marked-on-charts/
17230 imp supp.. if brk then down otherwise i see bounce.. this bounce will give better opp'ty to short.. overall trend is down
IvanLabrie
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Depends on the methodology you use. Some are better at predicting things, other are better reacting but predictions tend be weak.
What matters is that you trade your methodology correctly, abiding by its rules.
I disagree with your chart though, such a projection aiming up is a bit too much I think.
mkdeep04
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predicting is good to certain exten ,, from the chart 17230 area or even 17080 . need to see PA..
from yester low we just completeed 5w move.. weather this high is wA or just correction ? anyway.. lets ride the bear wave for now..
IvanLabrie
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I really don't even want to think in Elliott Wave terms...it's too complex and everyone does it wrong in general.
Just an observation. Not practical in my opinion, overall.