In the early phase, a 5-3-5 Zigzag correction was identified, indicating that after an A-B-C corrective phase, the market resumed an upward trend. This classic correction pattern suggests that although there was a strong retracement, the overall trend remains bullish. 🔹 Double Three Running Flats
The market appears to have formed a Double Three Running Flat, which signals a sideways correction rather than a deep pullback. A Running Flat structure typically suggests that after the correction completes, the trend will resume in its original direction. If this pattern belongs to a larger B wave, an impulsive C wave up is likely to follow. 🔹 Current Structure - WXY Correction
The latest wave count indicates a WXY corrective structure, with [Y] potentially marking the end of the correction. If this belongs to a higher-degree B wave, we could be approaching the start of an impulsive C wave rally. 2. Key Support & Resistance Levels ✅ Major Support Zone
A strong support zone is marked in yellow, where price has rebounded multiple times. As long as the market holds above this level, the likelihood of a bullish reversal increases. 🚨 Major Resistance Zone
Volume Profile shows significant resistance around 38,400, making it a key level to watch. 42,400 is the previous high and a crucial breakout level. If the price pushes above it, the rally could extend further. 3. Volume & Market Strength Analysis 📊 Volume Observations
The spike in volume near the support zone suggests that buyers are stepping in aggressively. If price breaks above key resistance with strong volume, it would confirm the start of an impulsive move. 4. Trading Strategy & Outlook 📌 Short-Term Trading
Look for long opportunities near the support zone, with a stop-loss slightly below the recent low. Initial target: 38,400-39,200 zone. If this level breaks, the next target would be 41,000-42,400. 📌 Mid to Long-Term Positioning
If the WXY structure has completed, this could be the beginning of a larger impulsive rally. Volume accumulation around 38,000 suggests that once price clears this level, a strong bullish continuation is likely. 📌 Risk Management
If the market breaks below the key support zone, a deeper retracement may occur, requiring a reassessment of the wave count. Monitor price action and volume closely to avoid false breakouts. Conclusion ✅ This study applies Elliott Wave principles, Volume Profile, and technical indicators to assess JP225’s trend structure. ✅ The market may be completing its correction phase, with a potential WXY structure signaling the end of the pullback. ✅ Watching for a breakout above Volume Profile resistance could provide confirmation of trend continuation.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.