FxWirePro:Nikkei225 forms Bullish Gartley pattern, good to buy on dips
Harmonic pattern formed - Bullish Gartley pattern Potential Reversal Zone (PRZ) - 19190 Nikkei225 has formed bullish Gartley pattern in the hourly chart ans major support is around 19190. Any break below 19190 confirms m…
Nikkei225 has formed bullish Gartley pattern in the hourly chart ans major support is around 19190. Any break below 19190 confirms minor weakness.
The index shown a decline till 19321 and slightly jumped from that level. It is currently trading around 19458.
On the lower side , 19305 (78.6% retracement of 19190 and 1) and any break below will drag the index till 19190/19128 (trend line joining 18224 and 18973).
•The major resistance is around 19698 (Jan 9th 2017 high) and any break above will take the index till 19917 (161.8% retracement of 19566 and 18986)/20000. The minor resistance is around 19327 (daily Tenken-Sen)./19400.
It is good to buy on dips around 19300 with SL around 19190 for the TP of 19700
