Nikkei 225 1H: Leading Diagonal Wave 3 Underway
Nikkei225 1H Outlook
The large sideways chop with big ups and downs seems to have settled, so I tried counting on the 1H chart.From the Nov 21 low to the Jan 14 high at 54,505, a large zigzag (a)-(b)-(c) completed.Currently forming a downward Leading Diagonal starting from 54,505.
Wave 1 ended at Jan 20 low 51,949.The choppy move since Jan 20 is a Double Three (Flat × Flat) starting from 51,949,
with Jan 29 high 54,098 as the end of the Double Three / Wave 2 of the Leading Diagonal.Now in Wave 3 of the Leading Diagonal.
Invalidation level: 54,098
※ This Leading Diagonal is considered as large wave (a).After (b) correction, expect (c) downleg to follow.Once (c) completes, reversal and new uptrend likely to begin (at this stage).
#nikkei225 #elliottwave #n225